CUSTOMER ANALYSIS. Course: Marketing Management.

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1 CUSTOMER ANALYSIS Course: Marketing Management

2 Traditional vs Modern Customer-Oriented Company Organization

3 Who is customer? Initiator User/consumer Purchase, use and consumption Influencer Purchaser Decider

4 Consumer Behavior What Influences it? Cultural Factors Social Factors Personal Factors Key Psychological Processes: Motivation Perception Learning Memory

5 Understanding customers: the key questions HOW Do they use the product? WHO Is involved in buying and consuming? WHAT Are their choice criteria? CUSTOMERS WHERE Do they buy? WHY Do they buy/use the product? WHEN Do they buy/use the product?

6 Five-Stage Model of Consumer Buying Process Problem recognition Information search Evaluation of alternatives Purchase decision Postpurchase behavior

7 Customer Perceived Value Based on the difference between what the customer gets and what customer gives for different possible choices Increase Value: raising economic, functional, or emotional benefits and/or reducing one or more of the various types of costs

8 Customer Value Analysis STEPS: 1. Identify the major attributes and benefits that customers value 2. Assess the quantitative importance of the different attributes and benefit 3. Assess the company's and competitors' performances on the different customer values against their rated importance 4. Examine how customers in a specific segment rate the company's performance against a specific major competitor on an individual attribute or benefit basis 5. Monitor customer values over time

9 Total Customer Satisfaction Measurement Techniques: Periodic surveys Customer loss rate Mystery shoppers The fact: no matter how perfectly designed and implemented a marketing program is, mistakes will happen Solution: Make it easy for the customer to complain toll-free numbers, Web sites, and addresses (quick answer and two-way communication)

10 Customer Lifetime Value The net present value of the cash flows attributed to the relationship with a customer Emphasis on customer service and long-term customer satisfaction Maximizing long-term customer profitability For planning customer investment and help to adopt a long-term perspective

11 Conceptual Framework for Modeling Customer Lifetime Value Steps to calculate CLV: 1. forecasting of remaining customer lifetime in years 2. forecasting of future revenues year-by-year, based on estimation about future products purchased and price paid 3. estimation of costs for delivering those products 4. calculation of the net present value of these future amount

12 Customer Relationship Management The process of carefully managing detailed information about individual customers and all customers touch points to maximize customer loyalty Improve loyalty and retention: Interacting with customer Developing loyalty programs Personalizing marketing Creating institutional ties

13 Influencing Buyer Behavior Personality and Self Personality and Self--Concept C Personality Brand personality Sincerity Excitement Competence Sophistication Ruggedness Self-concept Person s actual self -concept Ideal self-concept Others self-concept

14 Influencing Buyer Behavior Psychological Factors Motivation Motive Freud s Theory Laddering Projective techniques

15 Influencing Buyer Behavior Maslow s Theory Maslow s Hierarchy of Needs

16 Influencing Buyer Behavior Herzberg s Theory Dissatisfiers Satisfiers

17 Influencing Buyer Behavior Perception Selective attention People are more likely to notice stimuli than relate to a current need People are more likely to notice stimuli than they anticipate People are more likely to notice stimuli whose deviations are large in relation to the normal size of the stimuli Selective distortion Selective retention

18 Influencing Buyer Behavior Learning Drive Cues Discrimination Beliefs and Attitudes Belief Spreading activation Attitude

19 Organizational buying The business market versus the consumer market Business market Fewer buyers Larger buyers Close suppliercustomer relationship Geographically concentrated buyers Derived demand Inelastic demand Professional purchasing Fluctuating demand Several buying influences Multiple sales calls Directed purchasing Reciprocity Leasing

20 Organizational buying Buying Situations Straight rebuy Modified rebuy New Task Systems Buying and Selling Systems buying Turnkey solution Systems selling

21 Participants in the Business Buying Process The Buying Center Initiators Users Influencers Deciders Approvers Buyers Gatekeepers Key buying influencers Multilevel in-depth selling

22 Major Influences on Industrial Buying Behavior

23 Major Influences on Buying Decisions Environmental Factors Organizational Factors Purchasing-Department Upgrading Cross-Functional Roles Centralized Purchasing Decentralized Purchasing of Small-Ticket Items Internet Purchasing

24 Major Influences on Buying Decisions Other Organizational Factors Long-Term Contracts Vendor-managed inventory Continuous replenishment programs Purchasing-Performance Evaluation and Buyers Professional Development Improved Supply Chain Management Lean Production Just-in-time

25 Major Influences on Buying Decisions Interpersonal and Individual Factors Cultural Factors France Germany Japan Korea Latin America Indonesia

26 The Purchasing/Procurement Process Three Company Purchasing Orientations Buying Orientation Commoditization Multisourcing Procurement Orientation Materials requirement planning (MRP) Supply Chain Management Orientation

27 The Purchasing/Procurement Process Types of Purchasing Processes Routine products Leverage products Strategic products Bottleneck products

28 The Purchasing/Procurement Process Stages in the Buying Process Problem Recognition General Need Description and Product Specification Product value analysis Supplier Search Vertical hubs Functional hubs Direct external links to major suppliers Buying alliances Company buying sites Request for proposals (RFPs)

29 The Purchasing/Procurement Process Proposal Solicitation Supplier Selection Customer value assessment Routine-order products Procedural-problem products Political-problem products Order-Routine Specification Blanket contract Stockless purchase plans Performance Review Buyflow map

30 Major Influences on Industrial Buying Behavior

31 Institutional and Government Markets Institutional market

32 References Kotler, P., & Keller, K.L. (2009). Marketing Management, 13/E. New Jersey: Prentice-Hall. Hooley, G., et.al. (2008). Marketing Strategy and Competitive Positioning, 4/E. Prentice Hall.

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