Relationship Building Blocks: Customer Value and Satisfaction:
The key to building lasting customer relationships is to create superior customer value and satisfaction.
Satisfied customers are more likely to be loyal customers, and loyal customers are more likely to give the company a larger share of their business.
Customer Value: A customer buys from the firm that offers the highest customer perceived value - the customer’s evaluation of the difference between all the benefits and all the costs of a marketing offer relative to those of competing offers. Customers often do not judge product values and costs accurately or objectively.