Good application of course materials Including conceptual frameworks that help

Good application of course materials including

This preview shows page 6 - 15 out of 34 pages.

Good application of course materialsIncluding conceptual frameworks that help organise facts/observationsCreative, relevant ideasReasonable and well-informed arguments with clear presentation
Background image
Past Exam Questions and CribsAlready on VLEImportant notice:The crib only presents a set of possible answers (sometimes a guide to a set of possible answers). There is no definite answer and even if your answer to a question in the real examination is very different from its crib, you may still get high marks
Background image
CUSTOMER LOYALTY AND RELATIONSHIPS The only path to profitable growth may lie in a company’s ability to get its loyal customers to become, in effect, its marketing department.– Reichheld (2003) (in major readings)
Background image
LoyaltyA deeply held commitment to re-buyor re-patronise a preferred product or service in the future despite situationalinfluences and marketing efforts having the potential to cause switching behavior.• Lifetime value• Price premiumTruths or Myths?(a) “Acquisition cost = 5 X Retention cost”(b) “5% decrease in defection rate = 25% to 85% increase in profits”
Background image
Importance of Customer Satisfaction(and what is the flip side of this picture?)SatisfactionLoyaltyIncreased profitabilityRepeatPurchaseCustomer Lifetime ValueNew PurchasePositive word of mouth(re-read Reichheld 2003 in major readings)
Background image
Determinants of SatisfactionExpectationQualitySatisfactionPrior ExperienceCommunications> or =<
Background image
Building Customer LoyaltyGood ProductRelationshipBuildingSatisfactionLoyaltyTrustCommitmentSocial bondingEmpathyExpectationCommunityClub
Background image
Who (Not) to Keep Loyal(see Narayandas 2005 in major readings)
Background image
Customer Relationship Building: How?
Background image
Image of page 15

You've reached the end of your free preview.

Want to read all 34 pages?

  • Left Quote Icon

    Student Picture

  • Left Quote Icon

    Student Picture

  • Left Quote Icon

    Student Picture