Chapter 5 Kotler Customer value, Satisfaction and Loyalty
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This document discusses key concepts relating to customer value, satisfaction, and loyalty. It defines total customer benefit as the actual benefits of a product or service to the customer. Total customer cost refers to the monetary, time, energy, and psychological costs of a product or service. Perceived value is determined by the difference between total customer benefit and total customer cost. Customer satisfaction results from a product or service offering more benefits than costs and competitive advantages over alternatives. Satisfaction leads to customer loyalty, which in turn leads to company profits.
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Chapter 5 Kotler Customer value, Satisfaction and Loyalty
8. Customer Satisfaction –
Analyze what the customer holds
important to make it easier to meet the
requirements. Once met, there is
customer satisfaction.
9. Customer Satisfaction –
Quantifiable measurement
methodologies are available to monitor
satisfaction levels of the customers.
10. Customer Loyalty –
Customer satisfaction almost
always leads to customer
loyalty (Loyalty is a
commitment to repurchase or
re-patronize a preferred
product )
12. Total Customer Total Customer
Benefit Cost Perceived Value
More Benefits Competitive Customer
than Costs Advantage Satisfaction
Customer
Satisfaction Customer Loyalty Profits