BU121 Lecture Notes - Perceptual Mapping, Relationship Marketing, Customer Relationship Management
Document Summary
Produce (before) - > sales -> customer orientation (now) Ratio of benefits to the sacrifice necessary to obtain. Create customer value those benefits sacrificies (price isn"t only thing that matters) customers will pay premium for superior customer service. Businesses that provide customer value believe many: deliver customer satisfaction. Customer"s feeling that produce/service has met or exceeded expectations. Build relationships long-term partnerships with customers value, providing customer satisfaction -> repeat sales & referrals -> increase in sales, market share, profits organization uses to track, organize info about current and prospective customers. Target market: group of customers to whom you wish to direct your product toward, group of customers whose wants/needs have not been met by competition. Product usage - behaviour sensitivity to market factors, occasions, loyalty. Benefits sought (why do they use the product?) Volume (usage rate, user status, readiness to buy),
