Value is Related to Customer Benefits

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Presentation transcript:

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 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

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

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

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

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

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