kotcha18 - Chapter18 CompetitiveStrategies:Attracting,...

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1     Chapter 18 Competitive Strategies: Attracting,  Retaining, and Growing  Customers
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2 What is Relationship  Marketing?   Relationship Marketing is the  Process of Creating, Maintaining,  and Enhancing Strong, Value- Laden Relationships With  Customers and Other  Stakeholders.
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3 Customer Relationship  Marketing Why the new emphasis on retaining and  growing customers? Changing demographics, more sophisticated  competitors, and overcapacity in many industries  means fewer customers. Costs five times as much to attract a new  customer as to keep a current one satisfied. Losing a customer means losing the entire  stream of purchases over a lifetime of patronage  -  the customer lifetime value .
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4 Customer Delivered Value  (Fig. 18.1)
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5 Customer Satisfaction Expectations are Based on  Customer’s Past Buying  Experiences, the Opinions of  Information and Promises. Product  Falls Short  of  Expectation s Customer is  Dissatisfied Product  Matches  Expectations Customer is  Satisfied Product  Exceeds  Expectation s Customer is  Highly  Satisfied      or       Delighted!
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6 Customer Satisfaction Today’s most successful companies are raising  expectations – and delivering performance to  match. These companies embrace total customer  satisfaction . Firm that seeks total customer satisfaction 
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This note was uploaded on 06/03/2011 for the course AED 402 taught by Professor Larson during the Spring '11 term at University of Florida.

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kotcha18 - Chapter18 CompetitiveStrategies:Attracting,...

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