Unit 1.3 Building Customer Satisfaction,Value, and Retention

business school 705721VIT Marketing Management

Building Satisfaction, Building Customer Customer Satisfacti Satisfaction, Satisfaction, on, Value, Value, and and Retention Retention EK BUNCH ek@ba.cmu.ac Department of Marketi Faculty of Business Administrati Chiang Mai Univers

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1. Customer Satisfaction  The

level of a person’s felt state resulting from comparing a product’s perceived product’s perceived performance in relation to the person’s expectations









What A Highly Satisfied Customer Does  Stays

loyal longer

 Buys

more as the company introduces new products and upgrades existing products

 Talks  Pays

favorably about the company and its products

less attention to competing brands and advertising and is less sensitive to price









How Customers Handle Dissatisfaction  Take

no action  Take some form of public action Seek redress directly from business firms Take legal action to obtain redress Complain to business, public, or governmental go vernmental agencies 











Methods of Tracking and Measuring Customer Satisfaction

Complaint and

Customer satisfaction

Ghost shopping

Lost customer









2. Customer Perceived Value  The

difference between total customer value and total customer cost  Total Customer Value The bundle of benefits customers expect from a given product or service  Total Customer Cost 











Determinants of Customer Perceived Value Customer Customer perceived perceived value











Value Chain s tr i e t o i v p i p t u c S A

Firm Infrastructure











3. Retaining Customer 

The need for customer retention Offensive marketing typically marketing typically costs more than defensive marketing











Customer Development Process DisqualifiedInactive or prospectsex-customers

Partners











Customer Relationship Management (CRM)  The

task of creating strong



































































































Unit 1.3 Building Customer Satisfaction,Value, and Retention

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