Chapter 8 Flashcards
What is another name for Touchpoint
point of contact.
in terms of marketing, its the first point of contact customers have with a company.
What is channel in terms of communication between companies and the customers
refers to the method by which companies and customers interact with eachother.
There are typically two kinds of channel insurance companies use to connect with clients. What are they?
- communincation channels- focus on the transfer of information between customers and companies
- distribution channels. - focus on the product purchases and other sales-related gransactions.
Define a customer experience
the impression of a company that a customer forms over time as a result of a series of encounters with the company.
What is “the customer journey”?
the path each individual customer travels with a company, including every interaction across every touchpoint and every communication and distribution channel.
What is included in the customers perspective of the customers journey?
how they FEEL during company interactions and include
- the time spent researching the company’s products
- how a customer understandings and use the products
- the ease of the purchase process
- the ease of communicating with teh company
- satisfaction
What is a digital ecosustem
networks of companies and individuals that share services and generate mutual benefits.
What is a customer journey map
a visual framework for understanding all the ways in which customers interact with a company.
the paths defferent types of cusotmers take thorugh their relationship with the company and the different channels they use are noted on the map.
Where do companies get the information to create a customer journey maps?
data analytic tools, data mining and social media analysis, enable companies to collect and analyze data.l
Define customer experience management (CEM)
an enterprise-wide business strategy that focuses on developing an understanding of the customer and then using this understanding to improve customer interactions with the company and to match products and services to individual customer needs.
What is the equation to measure “Total Customer Value”
Total customer benefit - total customer cost
what term is given to customers who continue to do business with a company despite the influences and maketing efforts of competing companies exhibit
customer loyalty
Why does customer loyalty produce values for companies, ie what does customer loyalty do?
- generates NB thorugh referrals
- provide steady, dependable income
- provide opportunities for multiple or repeat purchases
- provide feedback that companies can use to evaluate and improve their products and services
Customer loyalty reduces customer defection. Define this
customer abandoment of a current company for a competing company.
Customers wants choices of communication channels. Name some examples
face 2 face email phone text social media mail web/chat mobile apps
What do you call the coordination of all of a comapny’s communications to deliver a clear, consistent message about the company and its products?
Integrated marketing communications (IMC_
Unifying all of a company’s marketing messages into one comprehensive plan enables the company to do what?
- develop and maintain a brand identity
- avoid duplications in marketing messages
- avoid using confusing or mixed marketing messages
- contribute to a consistent customer experience
How do companies develop an IMC program?
by analyzing how they can best communicate with customers in target markets and then brining objectives and strategies for internal and external customers together into an overall IMC strategy.
All communications from a company should be what? (3 C’s)
clear
consistent
complementary
what is omnichannel distribution
uses multiple integrated options that give customers choices and enable comapnies to create personalized interations with customers and business partners.
What are the 3 primary types of distribution systems?
- personal selling distribution systems
- intermediary distribution systems
- direct distribution systems
Define a personal selling distribution system
commissioned, fee-based, or salaried sales representatives offer insurance products through oral and written presentations made to prospective customers
Define intermediary distribution system
financial institutions or other 3rd party organizations distribute an insurer’s products
Define a direct distribution system
insurers conduct the sales process by communicating directly with customers
True or False
insueres rarely modify their distribution channels to meet changing customer demands
False, they frequently modify them. They success often depends on how effectively it selects, manages, and intefrates its distribution channels.
