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Chapter 5
Creating Customer Value, Satisfaction, and Loyalty
In This Chapter, We Will Address the Following Questions
1. What are customer value, satisfaction, and loyalty, and how can companies deliver them?
2. What is the lifetime value of customers, and how can marketers maximize it?
3. How can companies attract and retain the right customers and cultivate strong customer relationships?
4. What are the pros and cons of database marketing?
Today, companies face their toughest competition ever. Moving from a product-and-sales philosophy to a
holistic marketing philosophy, however, gives them a better chance of outperforming the competition. The
cornerstone of a well-conceived holistic marketing orientation is strong customer relationships. Marketers must
connect with customers—informing, engaging, and maybe even energizing them in the process. Customer
centered companies are adept at building customer relationships, not just products; they are skilled in market
engineering, not just product engineering.
Building Customer Value, Satisfaction, and Loyalty
creating loyal customers is at the heart of every business.
The only value your company will ever create is the value that comes from customers— the ones you have now
and the ones you will have in the future. Businesses succeed by getting, keeping, and growing customers.
Customers are the only reason you build factories, hire employees, schedule meetings, lay fiber-optic lines, or
engage in any business activity. Without customers, you don’t have a business.
Chapter 5
Creating Customer Value, Satisfaction, and Loyalty
In This Chapter, We Will Address the Following Questions
1. What are customer value, satisfaction, and loyalty, and how can companies deliver them?
2. What is the lifetime value of customers, and how can marketers maximize it?
3. How can companies attract and retain the right customers and cultivate strong customer relationships?
4. What are the pros and cons of database marketing?
Today, companies face their toughest competition ever. Moving from a product-and-sales philosophy to a
holistic marketing philosophy, however, gives them a better chance of outperforming the competition. The
cornerstone of a well-conceived holistic marketing orientation is strong customer relationships. Marketers must
connect with customers—informing, engaging, and maybe even energizing them in the process. Customer
centered companies are adept at building customer relationships, not just products; they are skilled in market
engineering, not just product engineering.
Building Customer Value, Satisfaction, and Loyalty
creating loyal customers is at the heart of every business.
The only value your company will ever create is the value that comes from customers— the ones you have now
and the ones you will have in the future. Businesses succeed by getting, keeping, and growing customers.
Customers are the only reason you build factories, hire employees, schedule meetings, lay fiber-optic lines, or
engage in any business activity. Without customers, you don’t have a business.
