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Building Customer Satisfaction through Quality, Service, and Value

Building Customer Satisfaction through Quality, Service, and Value. Objectives. Define value & satisfaction - understand how to deliver them The nature of high-performance businesses How to attract & retain customers Improving customer profitability Total quality management. Image value.

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Building Customer Satisfaction through Quality, Service, and Value

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  1. Building Customer Satisfaction through Quality, Service, and Value

  2. Objectives • Define value & satisfaction - understand how to deliver them • The nature of high-performance businesses • How to attract & retain customers • Improving customer profitability • Total quality management

  3. Image value Personnel value Total customer value Services value Product value Customer delivered value Monetary cost Time cost Total customer cost Energy cost Psychic cost Determinants of Customer Delivered Value

  4. Satisfaction is a person’s feelings of pleasure or disappointment resulting from comparing a product’s perceived performance (or outcome) in relation to his or her expectations.

  5. Set strategies to satisfy key... Stake- holders By improving critical business... Processes and aligning... Organization Resources High Performance Business

  6. Firm infrastructure Human resource management Support Activities Margin Technology Development Procurement Opera- tions Inbound Logistics Out- bound Logistics Market- ing and sales Margin Serv- ice Primary Activities The Generic Value Chain

  7. Order Order Order Order Du Pont (Fibers) Milliken (Fabric) Levi’s (Apparel) Customer Delivery Delivery Delivery Delivery Levi Strauss’ Value-Delivery Network Sears (Retail) Competition is between networks, not companies. The winner is the company with the better network.

  8. Satisfied Customers: • Are loyal longer • Buy more (new products & upgrades) • Spread favorable word-of-mouth • Are more brand loyal (less price sensitive) • Offer feedback • Reduce transaction costs

  9. High margin Medium margin Low margin Many customers/ distributors Accountable Reactive Basic or reactive Medium number of customers/ distributors Proactive Accountable Reactive Few customers/ distributors Partnership Proactive Accountable Levels of Relationship Marketing

  10. Prospects First-time customers Repeat customers Clients Advocates Partners Disqualified prospects Inactive or ex-customers Customer Development Suspects

  11. Customers C1 C2 C3 Products P1 + + + Highly profitable product P2 + Profitable product P3 - - Losing product P4 + - Mixed-bag product High profit customer Mixed-bag customer Losing customer Customer/Product Profitability Analysis

  12. The Profit Triangle Profit Value creation Internal operations Competitive advantage

  13. Quality • Quality is the totality of features and characteristics of a product or service that bear on its ability to satisfy stated or implied needs. #1

  14. Review • Define value & satisfaction - understand how to deliver them • The nature of high-performance businesses • How to attract & retain customers • Improving customer profitability • Total quality management

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