week 2 - Marketing management Week 2 Customers, customers,...

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Marketing  Marketing  management management Week 2 – Customers,  Week 2 – Customers,  customers, customers! customers, customers!
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Customers, et al. Customers, et al. Objectives - Week 2 1. Identify the central role of customers 2. Explain why relationships matter in marketing 3. Explain how marketing organisations retain customers 4. Explain the importance of customer orientation in people  and processes, including the place of internal marketing  and employee retention 5. Discuss the implementation of quality marketing 6. Discuss the critical issue of quality
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Customers Customers Without customers all organisations will  cease to exist
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Repeat purchase (loyal  Repeat purchase (loyal  customers) customers) Virtually all businesses need repeat  customers!  It is well know in marketing that selling to  repeat customers is much more cost- effective than to first timers (often by a  factor of 4 or 5) Thus the aim of every organisation is to  build the number of repeat customers  (often known as ‘loyal’)
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Value (as perceived by  Value (as perceived by  customer) customer) Customers will buy from the firm that they believe can provide  them with the highest customer delivered value When customers decide on the value they get from a product  or service they will only consider the features that are  important to them Customers’ perceptions of the value of a product or service is  a strong predictor of purchase and their experience with the  product will influence repeat purchase An important part of the experience is customer satisfaction  (defined in Wk 1)
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Value Value The concept of value is complex Essentially, it is value-for-money
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week 2 - Marketing management Week 2 Customers, customers,...

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