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Marketing 3: Managing Customer Dynamics (The Customer Pyramid (Zeithaml)…
Marketing 3: Managing Customer Dynamics
Chapter 3: Managing Customer Dynamics
(2) Approaches to Managing Customer Dynamics
Customer Dynamic Segmentation Approach
Expansion
Retention
Acquisition
Lost Customer Analysis
CLV Approach
RFM
Lifecycle Approach
Product Lifecycle
Industry Lifecycle
Customer Lifecycle
(3) Framework for Managing Customer Dynamics
Inputs
Outputs
Process for Managing Customer Dynamics (5 Steps)
(1) Introduction
All Customers Change
Sources of Customer Dynamics
Chapter 7: Relationship-Based SCA
(2) Relationship Marketing Strategy
Maintaining Relationships
Preventing the Bad
Betrayal
Loyalty Programs
Targeting and Adapting Relationship Strategies
4 Factors that Affect Customers´Desire for Relationships
Factors that Leverage Relationship Marketing Delivery Effectiveness
Building Relationships
Relationship Dynamics and Lifecycle Stages
Growth
Maturity
Exploratory
Decline/Recovery
(3) Managing Relationship-Based SCA
Measuring Relationship Equity
Building Relationship Equity
Step 1: Developing a Strong Relationship Foundation
Step 2: Implementing Marketing and Loyalty Programs
Social RM Programs
Structural RM Programs
Financial RM Programs
(1) Introduction
Relationship Marketing Basics
Effectiveness
Relationship Value
Relationship Equity
CRM
Relationships as SCA
MP3
Barriers
Relationship Equity
Trust + Commitment
Relationship Quality, Breadth, Composition
4 Benefits from Relationship Equity
CRM in Today´s World (Haenlein)
(2) How CRM has Changed
Churn Prevention and Loyalty to Product Portfolio
CRM can Backfire (Deal Optimization)
Multi-faceted, Complex and Difficult Valuation
Hard to Value Customer Equity
Lots of Valuation Techniques (CLV, Knowledge Value etc.)
Relationship Maintenance Cost and Profitability
More Demanding Customers
Higher Efforts = Higher Maintenance Costs
Attacks by Competitors
Relationship Types and Relationship Termination
Termination Flexibility = Value
Interactions on Firm- and Customer Level
Risk and Return Balance in Portfolio
Customers Interact: Social Influence
WOM to Leverage Interaction
Strategic Behavior on Both Sides
Emotions -> Unpredictable Behavior
Big Data -> Influence on Customers
(3) CRM in the Future
Few Good Men
Ethical Problem: Personal Data
Ethical/Legal Limits?
Color of Money
Many Firms don't use CRM Techniques
Linear CRM doesn't make Sense because of Interdependency
Rainmaker
Professional Influencer on SM (Invest?)
Positive or Negative WOM
Social Network
Find out Influential Hubs (Clusters of Customers
Are all Customers in the same Social Media ?
Interdependency
(1) CRM as It Used to Be
Customer Relationships are Stand-Alone Investments that Increase in Revenue and Profit over Time
1970´s: ProductLine-Prof-Anal.
1980´s: Customers as Investments
Customer Relationships are like Loving Marriages in which both Parties live happy
Explore the Relationship (Trial->Repeat)
Relationship Expansion
Create Awareness
Commitment
Customer Relationship Valuation is easy and linear, accounting for acquisition, development and retention
Predict Retention Rate, Growth Rate and Profit/Period
Only needs a positive NPV
Linear Process: Acquisition, Development, Retention
The Customer Pyramid (Zeithaml)
(4) Necessary Conditions for Tiers
Different Service Quality Perceptions
Diff. Incidence and Volume Drivers
Different Identifiable Profiles
Different Impact of Improving SERVQUAL on Profitability
(5) The Customer Pyramid
Platinum Tier
Gold Tier
Iron Tier
Lead Tier
(3) Limits Of Traditional Segmentation
Doesn't´t Account for Profitability
Need for Data
(6) When the Pyramid Should Be Used
When Customers Want Different Service Levels
When Customers are WTP for Different Service Levels
When Service Resources are Limited
When Customers Define Value in Different Ways
(2) Service Quality -> Profitability
Link can be Strengthened
(7) Customer Alchemy
Turning Iron into Gold
Getting the Lead Out
Turning Gold into Platinum
(1) Introduction
Importance of Profitability
Increase Overall Profitability