Objectives • Define value & satisfaction understand how to deliver them • The nature of high-performance businesses • How to attract & retain customers • Improving customer profitability • Total quality management
Determinants of Customer Delivered Value Image value Personnel value Services value Total customer value Product value Customer delivered value Monetary cost Time cost Energy cost Psychic cost Total customer cost
Satisfaction is a person’s feelings of pleasure or disappointment resulting from comparing a product’s perceived performance (or outcome) in relation to his or her expectations.
High Performance Business Set strategies to satisfy key. . . By improving critical business. . . and aligning. . . Stakeholders Processes Resources Organization
Firm infrastructure Market. Out. Serving Inbound Operabound ice Logistics tions and Logistics sales Primary Activities in Procurement in Technology Development Ma rg Human resource management rg Ma Support Activities The Generic Value Chain
Levi Strauss’ Value-Delivery Network Order Du Pont (Fibers) Order Milliken (Fabric) Delivery Order Levi’s (Apparel) Delivery Order Sears (Retail) Delivery Customer Delivery Competition is between networks, not companies. The winner is the company with the better network.
Satisfied Customers: • Are loyal longer • Buy more (new products & upgrades) • Spread favorable word-of-mouth • Are more brand loyal (less price sensitive) • Offer feedback • Reduce transaction costs
Levels of Relationship Marketing High margin Medium margin Low margin Many customers/ distributors Accountable Reactive Basic or reactive Medium number of customers/ distributors Proactive Accountable Reactive Few customers/ distributors Partnership Proactive Accountable
Customer Development Suspects First-time Prospects customers Disqualified prospects Repeat customers Clients Inactive or ex-customers Advocates Partners
Customer/Product Profitability Analysis Customers C 1 P r o d u c t s P 1 P 2 P 3 P 4 + + + High profit customer C 2 C 3 + + - - Mixed-bag customer Losing customer Highly profitable product Profitable product Losing product Mixed-bag product
The Profit Triangle ns Competitive advantage Va tio ra lue pe cr lo ea na tio er n Int Profit
Quality • #1 Quality is the totality of features and characteristics of a product or service that bear on its ability to satisfy stated or implied needs.
Review • Define value & satisfaction understand how to deliver them • The nature of high-performance businesses • How to attract & retain customers • Improving customer profitability • Total quality management
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