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MKT 7000 Chapters 2 Chapter 2 includes two key concepts that will play important roles in MKT 7000 Customer Satisfaction p34ff Plus Attracting retaining customers p46ff Business as a Porter System p40ff 2000 Prentice Hall The Business as a System 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 2000 Prentice Hall 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 2000 Prentice Hall Quality 1 2000 Prentice Hall Quality is the totality of features and characteristics of a product or service that bear on its ability to satisfy stated or implied needs Determinants of Customer Delivered Value Image Image value value Personnel Personnel value value Services Services value value Total Total customer customer value value Product Product value value Customer Customer delivered delivered value value Monetary Monetary cost cost Time Time cost cost Energy Energy cost cost Psychic Psychic cost cost 2000 Prentice Hall Total Total customer customer cost cost Customer Development Suspects First time Prospects customers Disqualified prospects 2000 Prentice Hall Repeat customers Clients Inactive or ex customers Advocates Partners 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 2000 Prentice Hall High Performance Business Set strategies to satisfy key By improving critical business and aligning 2000 Prentice Hall Stakeholders Processes Resources Organization The Generic Value Chain Human resource management n rgi Technology Development Ma Support Activities Firm infrastructure 2000 Prentice Hall Primary Activities

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