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7 Cards in this Set
- Front
- Back
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what's involved in an exchange?
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transaction
(trade of values btwn parties) relationship (building LT relationship with consumers, distributors, dealers and suppliers) |
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what's customer value?
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benefit that the customer gains from owning and using a product compared to the cost of obtaining the product
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what are the 2 sides of customer value?
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- values offered to customers
- values of firms |
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What's the relationship btwn value of customers and value to customers?
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high / low - vulnerable customers
low / low - lost causes high / high - star customers low / high - free riders |
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what are the drivers of customer profitability?
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profit patterns
(what they buy, how much they buy, etc) defection patterns (how long they stay) |
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what's customer lifetime value?
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the present value of all future profits generated from a customer
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what are the benefits of CLV?
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shift the management's focus from:
product -> customers transaction -> relationship short term -> long term market share -> customer value volume -> quality |
