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Value is Related to Customer Benefits

Value is Related to Customer Benefits. Utility – the want-satisfying power of a good or service Types of Utility Form Place Time Ownership. Lifetime Value of a Customer.

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Value is Related to Customer Benefits

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  1. Value is Related to Customer Benefits • Utility – the want-satisfying power of a good or service • Types of Utility • Form • Place • Time • Ownership

  2. Lifetime Value of a Customer • Lifetime value of a customer – present value of the stream of future profits expected over a customer’s lifetime of purchases • Firing a customer – encouraging a customer to find alternative sources from which to purchase

  3. Communicating Value in the Sales Message • Product quality • Channel deliverables (supply chain) • Integrated marketing communications (IMC) • Synergy between sales and marketing

  4. Communicating Value in the Sales Message • Execution of marketing mix programs • Quality of the buyer-seller relationship (trust) • Service quality • Salesperson professionalism

  5. Synergy Between Sales and Marketing • Seamless organizational processes focused on managing customer relationships strengthen the value proposition • When sales and marketing are not synergistic, the customer is marginalized

  6. Execution of Marketing Mix Programs • Product • Place - for distribution, or getting the product into the hands of the customer • Price • Promotion - marketing communications

  7. Quality of the Buyer-Seller Relationship • The quality of the buyer-seller relationship is measured by trust • Trust - a belief by one party that the other party will fulfill its obligations • Trust is essential to successful relationship selling • Trust signifies that a salesperson has the customer’s long-term interests at heart

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