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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 Customer Value, Satisfaction and Loyalty Mark Angelo Reyes MARKMA
Customers – marketing is the art of attracting and keeping profitable customers
Total Customer Benefit – the actual benefits afforded by the product and/or service to the customer
Total Customer Cost - the monetary, time, energy and psychological cost components of the product/service
Perceived Value - The total perceived value of the customers is determined by the difference of the Total Customer Benefit and Total Customer Cost
More Benefits than Costs – Does the benefits out weight the costs?
Competitive Advantage – Are the products/services that you offer superior to competitors/alternatives?
Customer Satisfaction – Analyze what the customer holds important to make it easier to meet the requirements. Once met, there is customer satisfaction.
Customer Satisfaction – Quantifiable measurement methodologies are available to monitor satisfaction levels of the customers.
Customer Loyalty – Customer satisfaction almost always leads to customer loyalty (Loyalty is a commitment to repurchase or re-patronize a preferred product )
Profits – with customer loyalty comes company profits
Total Customer Total Customer Benefit Cost Perceived Value More Benefits Competitive Customer than Costs Advantage Satisfaction Customer Satisfaction Customer Loyalty Profits

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Chapter 5 Kotler Customer value, Satisfaction and Loyalty

  • 1. Chapter 5 Customer Value, Satisfaction and Loyalty Mark Angelo Reyes MARKMA
  • 2. Customers – marketing is the art of attracting and keeping profitable customers
  • 3. Total Customer Benefit – the actual benefits afforded by the product and/or service to the customer
  • 4. Total Customer Cost - the monetary, time, energy and psychological cost components of the product/service
  • 5. Perceived Value - The total perceived value of the customers is determined by the difference of the Total Customer Benefit and Total Customer Cost
  • 6. More Benefits than Costs – Does the benefits out weight the costs?
  • 7. Competitive Advantage – Are the products/services that you offer superior to competitors/alternatives?
  • 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 )
  • 11. Profits – with customer loyalty comes company profits
  • 12. Total Customer Total Customer Benefit Cost Perceived Value More Benefits Competitive Customer than Costs Advantage Satisfaction Customer Satisfaction Customer Loyalty Profits