What is total customer satisfaction, Marketing Management

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Question 1:

(a) What is total customer satisfaction.
(b) How will customer safisfaction be measured.
(c) Describe the importance of customer value creation and discuss ways to improve those value discipline.

Question 2:

(a) Show whether customer loyalty is synonymous to profitability.
(b) What will a loyalty programme reasonably do.
(c) What are the pitfalls to avoid when choosing a loyalty strategy.

Question 3:

(a) What is understand by customer equity.
(b) Compare and contrast the concept of Recency Frequency and Monetary Value (RFM) and Customer Lifetime Value (CLTV).
(c) How valuable is the "word-of-mouth" concept.

Question 4:

(a) Describe the concept of Customer Relationship Management (CRM).
(b) Show the benefits and difficulties in launching and implementing a CRM system.
(c) What are the pitfalls to avoid to make sure a successful CRM system.


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