MKT 702 Study Guide - Customer Relationship Management, Personalized Marketing, Permission Marketing
Document Summary
Total customer benefit: perceived monetary value of the bundle of economic, functional, and psychological benefits customers expect from a given market offering because of product, service, people, and image. Total customer cost: perceived bundle of costs customers expect to incur in evaluating, obtaining, using, an disposing given market offering, including monetary, time, energy, and psychological costs. Customer value analysis: reveals company"s strengths and weaknesses relative to those of various competitors. Buyers operate under various constraints and occasionally make choices that give more weight to their personal benefits than company"s benefit. Loyalty: deeply head commitment to re-buy or re-patronize preferred product or service in the future despite situational influences and marketing efforts having potential to cause switching behaviour. Value proposition: consists of whole cluster of benefits the company promises to deliver; it is more than the core positioning of the offering. Value-delivery system: all experiences customer will have on the way to obtaining and using offering.
