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Customer Focus and Managing Customer Loyalty

Customer Focus and Managing Customer Loyalty. Chapter One Market orientation and customer focus The importance of customer satisfaction, retention, and loyalty Building a measure of customer loyalty Customer relationship management Marketing knowledge. Weak Customer Focus.

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Customer Focus and Managing Customer Loyalty

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  1. Customer Focus and Managing Customer Loyalty Chapter One • Market orientation and customer focus • The importance of customer satisfaction, retention, and loyalty • Building a measure of customer loyalty • Customer relationship management • Marketing knowledge

  2. Weak Customer Focus

  3. Strong Customer Focus Insert figure 1.2 here

  4. Customer Satisfaction • Measuring Customer Satisfaction • Customer Satisfaction Index (CSI) • Why is it important? • Directly correlated to profits • Leading indicator of operating performance • Impact of Dissatisfied Customers

  5. Customer Satisfaction and Retention • Why is customer retention important? • Cost of replacing/maintaining customers • Lifetime value of a customer • How does a firm retain customers? • Encouraging complaints

  6. Measuring Customer Retention

  7. Customer Loyalty • Measuring Customer Loyalty • Customer Loyalty Index (CLI) • Why is it important? • Customer Recommendations

  8. Why is CRM important? Not all customers are desirable Goal of CRM Build Customer Loyalty Classification of Customers High Potentials Top Performers Non Profits Underachievers Customer Relationship Management • New Customer vs. Win-Back Customer

  9. Customer Relationship Management

  10. Marketing Orientation Three Drivers of Marketing Orientation: • Marketing Knowledge • Marketing Leadership • Employee Satisfaction Three Pillars of Marketing Orientation: • Customer Focus • Competitor Orientation • Team Approach

  11. Marketing Orientation and Marketing Knowledge

  12. Marketing Excellence Survey

  13. Takeaways/Review • Customer Focus • Market Orientation • Customer Satisfaction • Customer Retention • Customer Loyalty • Key Performance Metrics • Profit impacts of retention, exit, and satisfaction • Customer Relationship Management (CRM) • Marketing Knowledge • Exercises • Marketing Performance Tools

  14. Marketing Performance Tools Customer Satisfaction and Customer Profitability

  15. Marketing Performance Tools Customer Retention and Customer Loyalty

  16. Marketing Performance Tools Lifetime Value of a Customer

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