Exam 10: Developing and Maintaining Long-Term Customer Relationships

Larger financial institutions now offer a wide range of services under one roof,from banking to stock trading.These institutions have moved away from increasing their market share to instead focus on increasing their:

__________ is defined as a business philosophy aimed at defining and increasing customer value in ways that motivate customers to remain loyal.

With respect to competitive advantages,many see __________ as the most important asset that an organization can possess,as it stems from the value generated by the trust,commitment,cooperation,and interdependence among relationship partners.

In times past,developing and implementing the "right" marketing strategy was all about __________.In today's economy,however,that emphasis has shifted to developing strategies that attract and retain customers over the long term.

Discuss the relationship between customer expectations and customer satisfaction.What might cause expectations to be higher or lower? How is the zone of tolerance a useful diagnostic tool in terms of developing strategies aimed at improving customer satisfaction?