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Customer Acquisition,
Satisfaction and Retention:
Building Relationship for
Adding Value
MM-EPYP- Session 1 1
Main Points
• Designing a Customer-Driven Marketing
Strategy
• Preparing a Marketing Plan and
Programme
• Building Customer Relationships, and
• Capturing Value from Customers
MM-EPYP- Session 1 2
Designing a Customer-Driven
Marketing Strategy
• To design a winning marketing strategy, the
marketing manager must answer two
important questions:
1.What customers will we serve
(what is our target market)?and
2. How can we serve these customers
best (what is our value proposition)?
MM-EPYP- Session 1 3
Choosing a Value Proposition
• It determines how a company will
differentiate and position itself in the
marketplace.
• A company’s value proposition is the set
of benefits or values it promises to
deliver to consumers to satisfy their
needs.
MM-EPYP- Session 1 4
Choosing a Value Proposition-
The Citi Card Way
MM-EPYP- Session 1 5
Preparing a Marketing Plan and
Programme
Marketing Mix
Product variety
Channels
Quality
Design
Place Coverage
Features Product Assortments
Brand name
Locations
Packaging
Sizes
Target Inventory
Services
Market Transport
Warranties
Returns
Price Promotion
List
price Sales promotion
Discounts Advertising
Allowances Salesforce
Public
Payment period MM-EPYP- Session 1 relations 6
MM-EPYP- Session 1 7
Customer Satisfaction
C.S. depends on the product’s
perceived performance relative to a
buyer’s expectations.
MM-EPYP- Session 1 8
Customer Value or Profit: A
Marketer’s Dilemma!
Profit
Customer Value
MM-EPYP- Session 1 9
Customer Relationship Levels
and Tools
• Basic relationships
• Full partnerships
• Frequency marketing programmes
• Club marketing programmes
MM-EPYP- Session 1 10
The Tools of CRM
MM-EPYP- Session 1 11
The Changing Nature of Customer
Relationships
• Relating with more carefully selected
customers
• Relating for long term
• Relating directly
MM-EPYP- Session 1 12
Customer Life Expectancy and
Customer Retention
Years
Customer Life (purchase period)
20
10
5
Source: Market-Based
Management, Roger
0 J. Best (4th Ed) PHI.
MM-EPYP- Session 1 14
Capturing Value from Customers cont.d…
Low
Strangers Barnacles
Short-term Long-term
Customers Customers
Projected Loyalty
MM-EPYP- Session 1 16