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: Connecting with Customers

Building Long-Term Customer Relationships

In this chapter, we will address the following questions:

  • 1. How can companies deliver customer value, satisfaction, and loyalty? (Page 79)
  • 2. What is the lifetime value of customers, and how can marketers maximize it? (Page 83)
  • 3. How can companies attract and retain the right customers and cultivate strong customer relationships and communities? (Page 84)

Marketing Management at Pandora

Technological advances have changed the way consumers purchase, listen to, and share music, and music-streaming services are in a virtual arms race for their loyalty. Internet radio company Pandora has staked a claim to be the market leader with its automated music discovery and recommendation service, which has helped attract more than 200 million registered users. Based on a listener’s musical selection, Pandora recommends other musical selections. Listener feedback to those recommendations and more than 400 different musical attributes judged by professional music lovers are combined and analyzed to suggest future songs. Pandora launched its smart-phone app in 2008, making its service available “anywhere, anytime.” Now Pandora faces steep competition from Spotify and other rivals, each of which has unique features that may drive customer preference and loyalty.1

Successful marketers carefully cultivate customer satisfaction and loyalty. In this chapter, we spell out the different ways they can go about winning customers, encouraging loyalty, and beating competitors.

 
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