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 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
Strong Customer Focus Insert figure 1.2 here
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
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
Customer Loyalty • Measuring Customer Loyalty • Customer Loyalty Index (CLI) • Why is it important? • Customer Recommendations
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
Marketing Orientation Three Drivers of Marketing Orientation: • Marketing Knowledge • Marketing Leadership • Employee Satisfaction Three Pillars of Marketing Orientation: • Customer Focus • Competitor Orientation • Team Approach
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
Marketing Performance Tools Customer Satisfaction and Customer Profitability
Marketing Performance Tools Customer Retention and Customer Loyalty
Marketing Performance Tools Lifetime Value of a Customer