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Exceeding Expectations: Enhancing Customer Value for Loyalty and Satisfaction

In today's competitive market, understanding what constitutes A+ value in the eyes of customers is crucial. This chapter explores the concept of perceived value, emphasizing the intrinsic and associated values that influence customer loyalty. Learn to apply seven key strategies to enhance customer perceptions, including effective packaging, guarantees, and creating memorable experiences. Recognize the costs associated with diminished value perceptions and the importance of an entire customer experience that aligns with customer needs. Elevate both customer and employee value to drive sustainable success.

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Exceeding Expectations: Enhancing Customer Value for Loyalty and Satisfaction

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  1. Chapter 10 Exceed Expectations with Value

  2. Objectives • Define what constitutes A-plus value in the minds of customers • Understand intrinsic and associated value which can affect a customer’s loyalty to you or your company • Apply seven categories of actions to enhance the customer’s perception of value

  3. Define A + Value • Perceived value: • Subjective perception of the tradeoff between multiple benefits and sacrifices, relative to competition • People expect to get what they pay for.

  4. Recognize the Cost of Diminished Perceptions of Value

  5. Create an Enhanced Sense of Intrinsic and Associated Value Intrinsic Value Extrinsic Value Entire customer experience • Does the product meet the customers needs?

  6. Seven Ways to Enhance the Perception of Value • Packaging • Guarantees/Warranties • Goodness of Product Fit • Memorable Experiences • Uniqueness and Shared Values • Credibility • Add-ons

  7. A + Value and Your Employees • Apply the seven ways to your employees

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