Learning

Competency:
Module 3
Customer Value

Learning Competency:

Explain the value of customer and define customer relationship

LEARNING CONTENT

After going through this module, you are expected to:

1. define the value of customers; and

2. identify and describe “relationship development strategies”

ASSESSMENT

Written Work
Interactive class discussion

CUSTOMER VALUE
Most Essential Learning Competency:
1.
Define the value of customers; and
2.
Identify and describe “relationship development strategies
Most Essential Learning Competency:
1.
Define the value of customers; and
2.
Identify and describe “relationship development strategies
Pre-Test

Matching-Type.

Directions: Match letters in the box below in the following statements and write
it in the space provided before the number.

1. It is not just in the way that every company says that they do. Make sure
that every interaction you have with your customers shows them that they are
valued.

2. Encourage shoppers to return to stores where they frequently make

purchases.

3. Like a lot of what we’ve been mentioning, it comes back to interactions.

While electronic communication is great, and often preferred, having a face-to-
face meeting can help the customer feel valued.

4. The act of taking care of the customer's needs by providing and delivering
professional, helpful, high quality service and assistance before, during, and
after the customer's requirements are met.

5. All customers should be treated professionally, which means the use of

competence or skill expected of the professional. Professionalism shows the
customer they're cared for
According to Serrano, Relationship Marketing includes activities aimed at
developing and managing trusting and long-term relationships with larger
customers. (Customer profile, buying patterns and history of contacts
are kept in a sales database) Relationship marketing is a strategy
designed for customer loyalty, interaction, and long-term engagement to be
fostered.

long-term engagement to be fostered. Customer Relationship focuses more on

long-
term customer retention than acquiring large numbers of new and potentially
single-
transaction customers.
Customer Value is the relationship between benefits and the costs including
money,
stress, and time to sacrifice that is necessary to get those benefits. Or simply
stated in
a mathematical equation: Benefits – Cost = Customer Value
Customer Relationship focuses more on long-term customer retention than on
acquiring large numbers of new and potentially single-transaction customers.
Customer Value is the relationship between benefits and costs including
money, stress, and time to sacrifice that is necessary to get those benefits. Or
simply stated in a mathematical equation: Benefits – Cost = Customer Value

Importance of Customer Value

1.
Designing and providing superior customer value are the keys to successful
business strategy in the 21st century.
2.
Value reigns supreme in today’s marketplace and marketspace.
3.
Customers will not pay more than a product is worth and will reward
excellence.
4.
A customer-centric culture provides focus and direction for the organization,
ensuring that exceptional value will be offered to customers.
5.
Designing and delivering superior customer value propels organizations to
market
leadership positions in today’s highly competitive global markets –
absolute
advantage.
6.
Providing outstanding customer value has become a mandate for
management.
Importance of Customer Value

1.Designing and providing superior customer value are the keys to successful
business strategy in the 21st century.

2. Value reigns supreme in today’s marketplace and marketspace.

3. Customers will not pay more than a product is worth and will reward
excellence.

4. A customer-centric culture provides focus and direction for the organization,

ensuring that exceptional value will be offered to customers.

5. Designing and delivering superior customer value propels organizations to

market leadership positions in today’s highly competitive global
markets – absolute advantage.

6. Providing outstanding customer value has become a mandate for

management.

Relationship Marketing -will make earlier agents of change look

inadequate. The key facilitator is technology available to marketers. CRM weds
the
individual customer and technology in ways that are unique. These
fourth-wave
relationships, propelled by a confluence of technological advances, will
themselves
change at geometric rates. (1) One-to-one marketing, (2) Database marketing,
(3)
Integrated marketing, and (4) Interactivity.
Customer Relationship Marketing will make earlier agents of
change look inadequate. The key facilitator is technology available to
marketers. CRM weds the individual customer and technology in ways
that are unique. These urth-wave relationships, propelled by a confluence
of technological advances, will themselves change at geometric rates. (1) One-
to-one marketing, (2) Database marketing, (3) Integrated marketing, and (4)
Inter activity.

9 Relationship Marketing Strategies and Tools

There are some actionable relationship marketing strategies that we hope will
be successful for you and your business from www.powerobjects.com

1. Networking - Networking, online and off, can be a powerful relationship

marketing technique. This isn’t just for job seekers! Think about the
interests that you have as a business, and then join groups that share
your affinities.

2. Cherish Each Customer - Not just in the way that every company says
that they do. Make sure that every interaction you have with your
customers shows them that they are valued.

3. Listen to Your Customers - Listen to your customers! Every business

says they do, but not all follow through or apply what they’ve heard.
Even listening and responding to compliments can be eneficial.
People love knowing they’ve been heard. Even complaints can be a
blessing in disguise. People often just want someone to share their
concerns with.

4. 4.Build a Brand Identity - A memorable brand will make it easy for

customers to find you and your product(s). Customers will
gravitate toward what they find that is memorable.

5. 5.Give Your Customers Free Information - What’s better than

free? Not much. Your customers are seeking information about your
product(s). They have questions. Give them answers! Identify the topics
and interests your customers have.
6. 6.Loyalty Rewards - Loyalty programs encourage shoppers to return to
stores where they frequently make purchases.

7. Communicate Often - relationships are based on

communication. Your customers and users want to communicate with
you, so be sure to communicate with them often. Relationship marketing
works well when you strive to be there for your customers.

8. Special Events - Holding a special event for your existing or prospective

customers is a great way to build relationships.

9. Face-To-Face Time - Like a lot of what we’ve been mentioning, it comes

back to interactions. While electronic communication is great, and often
preferred, having a face-to-face meeting can help the customer feel
valued.

10. 4.
11. Build a Brand Identity - A memorable brand will make it easy
for customers to find
12. you and your product(s). Customers will gravitate toward
what they find that is
13. memorable.
14. 5.
15. Give Your Customers Free Information - What’s better
than free? Not much. Your
16. customers are seeking information about your product(s). They
have questions. Give
17. them answers! Identify the topics and interests your customers
have.
18. 6.
19. Loyalty Rewards - Loyalty programs encourage shoppers to return
to stores
20. where they frequently make purchases.
21. 7.
22. Communicate Often - Relationships are based on
communication. Your
23. customers and users want to communicate with you, so be sure to
communicate with
24. them often. Relationship marketing works well when you strive to
be there for your
25. customers.
26. 8.
 27. Special Events - Holding a special event for your existing or
prospective
28. customers is a great way to build relationships.
29. 9.
30. Face-To-Face Time - Like a lot of what we’ve been mentioning, it
comes back to
31. interactions. While electronic communication is great, and often
preferred, having a
32. face-to-face meeting can help the customer feel valued.
Customer service is the act of taking care of the customer's needs by
providing and delivering professional, helpful, high quality service and
assistance before, during, and after the customer's requirements are met.
Customer service is meeting the needs and desires of any customer. Some
characteristics of good customer service include: Characteristics of Good
Customer Service:

•Promptness: Promises for delivery of products must be on time. Delays

and cancellations of products should be avoided.

•Politeness: Politeness is almost a lost art. Saying 'hello,' 'good afternoon,'

'sir', and 'thank you very much' are a part of good customer service. For any
business, using good manners is appropriate whether the customer makes a
purchase or not.

•Professionalism: All customers should be treated professionally, which

means the use of competence or skill expected of the professional.
Professionalism shows the customer they're cared for.

•Personalization: Using the customer's name is very effective in

producing loyalty. Customers like the idea that whom they do business with
knows them on a personal level

Source: D365, Joe (2017, June 02). 9 Relationship Marketing Strategies

and Tools – Power Objects: Microsoft Dynamics 365 Blog. Retrieved
June 30, 2020, from
https://www.powerobjects.com/blog/2015/07/16/9- relationship-marketing-
strategies-and-tools
Directions: Answer the following questions below. Write your answer in yellow
pad paper.
Activity 1: Is Customer Relationship Marketing differ from Relationship
Marketing? Explain.
Activity 2: Can you site or illustrate businesses who use customer service
strategy? How this
help the business? Explain

SELF-EVALUATION

Directions: Answer the following questions below. Write your answer in yellow
pad paper.

Activity 1: Is Customer Relationship Marketing different from Relationship

Marketing? Explain.

Activity 2: Can you site or illustrate businesses that use customer service
strategy? How this help the business? Explain

Remember:
Customers are very important to companies. They provide a competitive
advantage. Because of customers, companies can achieve. High market share
lead which means high sales in terms of volume and pesos. Customers are also
influencers and models for they spread good things about your company and
your services. Also, they are the reason for the company’s existence. Finally,
customers can make or break a company.
Activity No. 3

MODIFIED TRUE OR FALSE:

Directions: Write Correct if the statement regarding customer value is true and
correct but write the correct word/s if the statement is false.

1. Simply stated in a mathematical equation: Benefits – Cost= Customer

Satisfaction.
2. Pyramiding, online and off, can be a powerful relationship marketing
technique. This isn’t just for job seekers! Think about the interests that you
have as a business, and then join groups that share your affinities.
3. Loyalty Rewards – Loyalty programs encourage shoppers to return to stores
where they frequently make purchases.
4. Customer service is the act of taking care of the customer's needs by
providing and delivering professional, helpful, high quality service and
assistance before, during, and after the customer's requirements are met.
5. Promptness is using the customer's name is very effective in producing
loyalty. Customers like the idea that whom they do business with knows them
on a personal level

Activity No. 4

Identification
Directions: Read each statement below carefully and fill in the blanks with the
correct answer.

1. It is almost a lost art. Saying 'hello,' 'good afternoon,' 'sir', and 'thank you
very much' are a part of good customer service. For any business, using good
manners is appropriate whether the customer makes a purchase or not.
2. It is the relationship between benefits and the costs including money, stress,
and time to sacrifice that is necessary to get those benefits.
3. It is the act of taking care of the customer's needs by providing and
delivering professional, helpful, high quality service and assistance before,
during, and after the customer's requirements are met. Customer service is
meeting the needs and desires of any customer.
4. It includes activities aimed at developing and managing trusting and long-
term relationships with larger customers.
5. Relationships are based on communication. Your customers and users want
to communicate with you, so be sure to communicate with them often.
Relationship marketing works well when you strive to be there for your
customers

Additional Activities:

Reflective Learning Sheet:

During the current COVID-19 pandemic, global markets are severely disrupted.
Businesses are forced to explore innovative solutions to overcome the growing
negative implications of this unprecedented crisis. Business environments are
affected, and few had close because of this pandemic situation. Due to various
quarantine measures imposed by the government. The existing business
continuity plans may not be enough to address the fast-changing variables
presented by COVID-19 pandemic.

Source: Roxas-Divinagracia, M. T. (n.d.). Responding to the potential

business impacts of COVID-19 (Deals and Corporate Finance).
Retrieved June 30, 2020, from
https://www.pwc.com/ph/en/advisory/deals-advisory/responding-to-the-
potential-business-impacts-of-covid-19--deals-.html

Reflective Question. Can businesses still use concept of Customer Value

despite of this pandemic situation? Explain
References:
Armstrong, Gary (2013). Marketing: An introduction 11th, Global ed. Harlow,
England: Pearson
Attar, Asiyeh, (2019) CONTEMPORARY TYPES OF MARKETING, Retrieved
from
https://blog.ubrik.com/types-of-marketing
Garrovillas, Eduardo P ( 2007), Out of the Box Marketing Principles, that
work and make sense.
Books Atbp. Publishing Corp
Go, Josiah (1996). Contemporary Marketing Strategy in the Philippine Setting,
Manila: National Bookstore
MEDINA, ROBERTO G. (2008), Principles of marketing revised edition REX
Bookstore.
Microsoft Dynamics 365, (2015, July 16). RELATIONSHIP Marketing Strategies
and
tools
Retrieved from https://www.powerobjects.com/blog/2015/07/16/9-
relationship-
marketing-
strategies-and-tools/
Serrano, Angelita C. (2019) Principles of Marketing, published by
Unlimited Books Library
Services & Publishing Inc, ISBN: 978-971-9654-30-8.
Singh, Deepesh (2013, September 11). 6 Market Models of Relationship
Marketing Retrieved from
https://topbullets.com/2013/09/11/six- markets-model-relationship-
marketing- crm
Armstrong, Gary (2013). Marketing: An introduction 11th, Global ed. Harlow,
England: Pearson Attar, Asiyeh, (2019)
CONTEMPORARY TYPES OF MARKETING,
Retrievedfromhttps://blog.ubrik.com/types-of-marketingGarrovillas, Eduardo
P ( 2007), Out of the Box Marketing Principles, that work and make
sense. Books Atbp. Publishing CorpGo, Josiah (1996).
Contemporary Marketing Strategy in the Philippine Setting, Manila: National
Bookstore MEDINA, ROBERTO G. (2008), Principles of marketing revised
edition REX Bookstore. Microsoft Dynamics 365, (2015, July 16).
RELATIONSHIP Marketing Strategies and tools Retrieved from
https://www.powerobjects.com/blog/2015/07/16/9-relationship- marketing-
strategies-and-tools/Serrano, Angelita C. (2019)
Principles of Marketing, published by Unlimited Books Library
Services & Publishing Inc, ISBN: 978-971-9654-30-8.Singh, Deepesh (2013,
September 11).
6 Market Models of Relationship Marketing Retrieved
fromhttps://topbullets.com/2013/09/11/six- markets-model-relationship-
marketing- crm