MKT 702 Chapter Notes - Chapter 5: Upselling, Winback, Customer Attrition
Document Summary
Value creating loyal customer is the heart of every business. The only value that a company will ever create the value that comes from customers the ones you have now and the ones you will have in the future. Profit centre consider the traditional organization where the centric goals is the acquire profit. Customer-perceived value is the difference between the prospective customers evaluation of all the benefits and all the costs and offering and the perceived alternatives. Total customer benefits the perceived monetary value of the bundle of economic, functional and psychological benefits customers expect from a given market offering because of the product, service, people, and image. Total customer costs is the perceived bundle of costs customers expect to incur in evaluating, obtaining, using, and disposing of the given market offering, including monetary, time, energy and psychological costs. Applying value concepts the real cost of anything is the cost of acquiring it.
