MKT 702 Lecture Notes - Lecture 5: Customer Relationship Management, Activity-Based Costing, Customer Retention
25 Jan 2017
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Document Summary
Traditional organization chart: top management- middle management- front line people- customers. Modern customer oriented organization chart: customers- front line people- middle management- top management, manages involved at every level in knowing, meeting and serving customers. Applying value concepts: customer value analysis- to reveal company"s strengths and weaknesses relative to competitor. Identify the major attributes and benefits customers value. Assess the quantitative importance of the different attributes and benefits. Assess the company"s and competitors performances on the different customer values against their rated importance. Examine how customers in a specific segment rate the company"s performance against a specific major competitor on an individual attribute or benefit basis. Delivering high customer value: customer loyalty has varying degrees to specific stores, brands and companies. Total customer satisfaction: satisfaction: person"s feelings of pleasure or disappointment that result from comparing a product"s perceived performance with his or her expectation, monitoring satisfaction: Measuring regularly because one way of customer retention.
