Creating long-term loyalty relationships - Building customer value, satisfaction and loyalty
7 important questions on Creating long-term loyalty relationships - Building customer value, satisfaction and loyalty
Explain the difference between the traditional organization chart and the modern chart.
- Managers that believe the customer is the only true "profit center" consider the pyramid in which the top managers are at the top, management is in the middle, and frontline people and customers are at the bottom.
- Successful marketing companies consider the inverted pyramid with customers at the top and top managers at the bottom.
What is customer perceived value (CPV)?
Explain the total customer benefit and cost.
- Total customer benefit: perceived money 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 cost: perceived bundle of costs customers expect to incur in evaluating, obtaining, using and disposing of the given market offering, including money, time, energy, and psychological costs.
- Higher grades + faster learning
- Never study anything twice
- 100% sure, 100% understanding
For my 1st exam I got a C. Then, I started looking for ways to learn better and I came across Study Smart. Since then I have scored a A+, A, A- and another A. I highly recommend it to everyone who wants to hear it. I am so happy with it!!
I was struggling to finish all my first-year subjects for 3 years. Then I discovered Study Smart, which helped me to finish all of them within 3 months.
Because of StudySmart, things are going well in many ways. Before, I always had study stress and no time for anything. Now I feel calm and confident (because of the program). I used to score a B, now I usually score an A or A+.
Hey Chris, I really want to thank you very much for developing the platform, I usually got around C for my exams, now I scored an A+, an A and a A- !!
Since using Study Smart, my average has increased significantly. I even completed a statistics course with a A+ while I'm bad at statistics. I took on extra courses this year, because of Study Smart. Thanks so much!
Ever since I started studying with StudySmart I passed all my exams !!! No more re-sits!! At first, I was happy with a pass and now I only get good grades. Many thanks!
I aced all the courses I studied with Study Smart. For law, I first scored a D, and now an A! I’m 100% sure that I’ll pass all the courses I study with Study Smart.
I always thought I studied well. My grades were fine. I could never have imagined that applying these study skills would have such a huge and direct impact on my grades, my speed and the pleasure I have in learning.
For the first time, I finally feel totally confident about the way I learn. I have the perfect overview and make great progress in terms of speed and the grades I get. Thanks, Chris!
I immediately started to enjoy learning again, and my grades soared. All of a sudden, everything went better. I highly recommend Study Smart to all students..
Being able to create my materials online made the process of studying so much smoother and quicker. I no longer have to spend a huge amount of my time on creating my summaries.
At first, my notes were a mess. Now I use Study Smart to take my notes in a perfectly structured way. It helps me to save a lot of time and do other things I enjoy.
Students that study with Study Smart get better grades. The system applies all the learning methods in such a way that both well-performing students and students who struggle perform much better.
Hi Chris, I would like to thank you very much. Last year I scored C on a course, and this year I got an A+ thanks to your method! Thank you very much!
The largest effect is that my child is more enthusiastic about school! Every parent wants their children to be happy at school, Study Smart made it happen.
In high school, I failed several exams, and that has really changed now. I actually needed this tool very much back then. Since I started studying with StudySmart, I haven't had any D's. My average score is now an A and those are results I would have never had in the past
With my old method, I passed only 3 out of 8 courses. Since I started taking my notes digitally in Study Smart, I have passed all my courses on the first try. For me, StudySmart takes away the stress of wondering if I will pass or not.
Thanks to StudySmart, I passed all my exams, and with better grades than before! On top of that, I have mastered a very good study method now, which I am confident will help me earn my degree.
What are the steps in a customer value analysis?
- Identify the major attributes and benefits of the customers value
- Assess the quantitative importance of the different attributes and benefits.
- Assess the company's and competitor's performances on the different customer values against their rated importance.
- Examine how customers in a specific segment rate the company's performance against a specific major competitor on an individual attribute or benefit basis.
- Monitor customer values over time.
What are the 2 alternatives for the seller at disadvantage?
- Increase the total customer benefit
- Decrease the total customer cost
What are the measuring techniques for monitoring satisfaction?
- Periodic surveys
- Monitoring customer loss rate
- Hire mystery shoppers to report on strong and weak points experienced in buying the company's and competitor's products.
What procedures can help to recover customer goodwill?
- Set up a 24/7 free hotline to receive and act on customer complaints.
- Contact the complaining customer as quickly as possible.
- Accept responsibility for the customer's disappointment; don't blame the customer.
- Use customer service people who are emphatic.
- Resolve the complaint swiftly and to the customer's satisfaction. Some customers are not looking for compensation as much as a sign that the company cares.
The question on the page originate from the summary of the following study material:
- A unique study and practice tool
- Never study anything twice again
- Get the grades you hope for
- 100% sure, 100% understanding
