Aligning customer experience: step 1: use the Wallet Allocation Rule to link satisfaction and share of wallet; step 2: align share of wallet and revenue objectives; step 3: align revenue and profit objectives
American Customer Satisfaction Index (ACSI): comparing McDonald’s, Burger King, and Wendy’s; as customer satisfaction metric; examined as predictor of growth
Arrow Bank (Thailand): description of; examining the NPS of; Wallet Allocation Ruler drivers of share of wallet
AT&T
Averages: fans vs. non-fans satisfaction and spending; how they can be misleading
B
Ball, Lucille
Bank of China (BOC)
Bank of Communications (BANKCOMM) [China]
Banking. See Business banking; Retail banking
Barclays
Barriers. See Market barriers
Boorstin, Daniel J.
Booz & Company
Brand rank: average number of brands used to determine; customers’ relative satisfaction levels and perceived; determining your company’s; difference between first choice and second choice; distinguishing between drivers of satisfaction and drivers of; how different wallet shares result from customer perception of; how to improve your; key drivers of; market barriers to; market share as strongly linked to; percent first choice to determine; share of wallet used to determine; Wallet Allocation Rule strategic issues related to. See also Competitors
Brands: analyzing satisfaction and corresponding first-choice; average number used by customers; buying decision based on competitive alternatives vis-à-vis; collecting data on the wrong; collecting data on the wrong people or use of; conditional-use; customer intention to recommend; damage to Chilean pharmacy retailing; difference between first choice and second choice; drivers of satisfaction and share of wallet for Tim Hortons; high-loyalty; JCPenney rebranded as the JCP; penetration of; percent first choice of; satisfaction with mass market versus niche ; “Share of Best” Grid of; Top-2 box satisfaction scores of Canadian QSR; usage of; Wallet Allocation Rule to calculate share of wallet by. See also Customer switching; Firms
Brazilian grocery retailing: description of; Wallet Allocation Rule to determine business drivers
Brico Dépôt (France)
British Medical Journal
Burger King
Business banking: in Thailand; Wallet allocation Rule drivers of share of wallet. See also Retail banking
Business growth: as CEO focus debate over ACSI and NPS as predictors of; headroom for; relationship between customer satisfaction and; relationship between NPS and; story of HomeBanc Mortgage’s; three variable required for creating organic; word of mouth relationship to. See also Firms
C
Canadian quick-serve restaurant (QSR) market: description of the; drivers of satisfaction and share of wallet for Tim Hortons; NPS or satisfaction-based metrics used by the; Top-2 box satisfaction scores of the
Carrefour Hyper (Brazil)
Castorama (France)
Centennial Medical Center
Change. See Organizational change
Chedraui (Mexico)
Chief executive officers (CEOs): customer loyalty as top priority of; organization change role of the; profits and growth focus of; typical attitude toward marketing by
Chief marketing officers (CMOs): customer loyalty as top priority of; customer loyalty metrics tracked by; evidence of distrust of CEO toward their; organization change role of the
China Construction Bank (CCB)
China Merchants Bank (CMB)
China’s People’s Liberation Army
Chinese retail banking: customer relationship management (CRM) strategy used in; description of; satisfaction, Wallet Allocation Rule, and share of wallet in
Cirque du Soleil
Citibank
Clinical Evidence study
CNBS Financial Group
Coca-Cola
Comerial Mexicana (Mexico)
Companies. See Firms
Competitors: analysis to determine reasons for customer use of; determining how much of your customers’ money goes to; understanding why your customers use your; Wallet Allocation Rule and impact of your brand; Wallet Allocation Rule case study on customer purchase from. See also Brand rank; Wallet Allocation Rule practice cases
Conditional-use brands
Cooperative de Consumo (Coop) [Brazil]
Credit unions. See U.S. credit unions
Cumulative customer profitability
Current Account Switch Guarantee (UK)
Customer loyalty: as CEO and CMO top priority; customer retention and; how share of wallet is increased through; research on failure to turn customer satisfaction into; spending as demonstration of; word of mouth through. See also Customers
Customer Loyalty Is Priceless (Gitomer)
Customer loyalty myths: loyal customer cost less to serve; loyal customers are less price sensitive
Customer profitability: aligning revenue and objectives for; aligning satisfaction, revenue, share of wallet, and; CEO focus on growth and; customer revenue versus profit issue of; top 20 percent of customers generating majority of
Customer retention: business importance of; shifts in company strategies to ensure
Customer satisfaction: aligning share of wallet, revenue, profit, and; analyzing first-choice selection corresponding to; averages and misleading belief that share of wallet is tied to; averages of fans vs. non-fans average spending and; Chinese banking industry’s CRM approach to; distinguishing between drivers of rank and drivers of; drivers of Tim Hortons; first choice brands and; Gossen’s second law on; high-sales stores and; hospitals and patient satisfaction rates; implications for managers of spending not linked to; mass market brand market share and; with mass market versus niche brands; mistake of taking short-termism approach to; Montgomery Ward’s promise on; as relative to competitive alternatives; research on relationship between business outcomes and; return on investment for Groupon offers and; Wallet Allocation Rule used to link share of wallet and; Wallet Allocation Rule used with metric of; as weak predictor of share of wallet . See also Customer satisfaction relationships; Wallet Allocation Rule practice cases
Customer Satisfaction Is Worthless (Gitomer)
Customer satisfaction metrics: American Customer Satisfaction Index (ACSI); Canadian quick-serve restaurant (WSR) use of; ecological fallacy of incorrectly using; how averages can be misleading; how managers use and misuse; issue of inputting erroneous values to; purchase intention; recommend intention; statistically significance concept of; three must-have; tracked by CMOs; Wallet Allocation Rule as the “best,” . See also Net Promoter Score (NPS); Share of wallet; Wallet Allocation Rule
Customer satisfaction must-haves metrics: average number of brands used as; determining how much of your customers’ money goes to competitors as; percent first choice; share of wallet as
Customer satisfaction relationships: between burger chain market share and satisfaction ; between business outcomes and satisfaction; between market share and satisfaction, ; between NPS and satisfaction; between price and satisfaction; between share of wallet to satisfaction. See also Customer satisfaction
Customer switching: enticing; Lloyds TSB customer “barriers to,” ; needs-offer gap and; UK banking Current Account Switch Guarantee for. See also Brands
Customers: breakdown of their experience with marketing; collecting data on the wrong people or; cumulative customer profitability of; difference between brand first choice and second choice by; efforts to understand minds’ of; enticing them to switch; Field of Dreams mentality regarding; JCP rebranding failure to capture; purchase intention of; retaining; steps for aligning experience of; wallet shares as result of perception of performance by; word of mouth to attract new. See also Customer loyalty
D
David, Packard
Deloitte
Deming, W. Edwards
Deutsche Bank
Dia (Brazil)
Disney
“Disruptive Innovation” award
DIY (do-it-yourself) retailing [France]: description of the; drivers of share of wallet for top
Dollar Stores
Drivers: business banking share of wallet; Chilean pharmacy retailing share of wallet vs. NPS; distinguishing between satisfaction and brand; French DIY (do-it-yourself) retailing share of wallet; key brand rank; measuring the wrong; MENA retail banking share of wallet vs. NPS; perceptual map of grocer retailing share of wallet; “share of mind” retail banking; Tim Hortons satisfaction and share of wallet; Turkish retail banking satisfaction vs. share of wallet; U.S. credit union; Wallet Allocation Rule to determine Brazilian grocery retailing,
Drucker, Peter
E
Ecological fallacy: description and causes of; National Geographic video example of
Economist magazine
Eisenhower, Dwight D.
EU Commission
Evidence-based management
“Evidence-Based Management” (Pfeffer and Sutton)
Extra (Brazil)
F
Farmacias Ahumada (Chile)
Farmacias Cruz Verde (Chile)
Favaro, Ken
Field of Dreams mentality
Firms: CEO focus on growth of; customer first and second choices among brands and ; customer profitability of; determining competitive rank of your; marketing budgets of; revenue of ; Wallet Allocation Rule bringing organizational change in; Wallet Allocation Rule strategic issues related to operations of. See also Brands; Business growth
First choice brands: brand ranked by percent of exclusive; difference between second choice and; satisfaction and
Five Guys Burgers and Fries
Florida Power & Light
Fordham University
Fornell, Claes
G
Garanti Bank (Turkey)
German retail banking: ATMs used as part of; cooperative banks (Volkbanken and Raiffeisenbanken) of; description of; direct banks (Internet banks); private banks of; savings banks (Sparkassen) of; “three pillars” of
Ghent University
Gitomer, Jeffrey
Gossen’s second law
Great Recession (2008): comparing Walmart and Target same store sales; increased Walmart same-store sales during; short-termism consequences demonstrated during the
Grocer retailing: in Brazil; perceptual map of drivers of share of wallet for; perceptual map reflecting barriers to use; Wallet Allocation Rule case study on; Wallet Allocation Rule to examine Mexican supermarket chains
Groupon offers
Growth. See Business growth
Gupta, Sunil
H
Harley Davidson
Harvard Business Review: on creating organic growth; on customer loyalty and share of wallet study; on customer retention strategies; on customer revenue versus profit issue; on customer word of mouth; “Don’t let the math scare you” quote from; on evidence-based management; on net income growth study findings; on Wallet Allocation Rule study findings
Harvard Business School
Headroom for growth
Heraclitus
Hewlett-Packard
High-loyalty brands
Hippocratic Oath
Hofmeyr, Jan
Holley, Charles
Home Federal Savings & Loan
HomeBanc Mortgage Corporation
Hospital satisfaction rates
HSBC
Hypermarket competition
I
IBM
IMD Business School
Industrial and Commercial Bank of China (ICBC)
ING Bank
International Journal of Bank Marketing
Ipsos Loyalty
I Bank (Turkey)
J
JCP
JCPenney
Jiffy Lube
Johnson, Ron
Journal of Marketing
Journal of Patient Safety
Journal of Service Management
K
Kaplan, Robert S.
Keiningham, Timothy L.
Key Performance Indicators (KPIs): average number of brands used as; percent first choice as; share of wallet as
Kmart
Koestler, Arthur
Kroger
Kumar, V.
L
Leeflang, Peter S. H.
Lehmann, Donald
Leo Burnett Worldwide
Leone, Robert P.
Leroy Merlin (France)
Lerzan, Aksoy
Lloyds TSB: impact of negative and positive barriers for ; improving fees and services to increase share of wallet; ordered spilt (2008) of; potential market impact on competitors from change in performance of; separated into Lloyds Bank and TSB
Lloyds TSB customers: “barriers to switching” for ; description of the; other banks used as a percent of the total; Wallet Allocation Rule driver analysis of
Louw, Alice
Loyalty Myths (Keiningham, Vavra, Lerzan, and Aksoy)
M
Malcolm Baldrige National Quality Award
Management practice: analyzing satisfaction and corresponding first-choice selection; customer satisfaction versus market share ; evidence-based; must-have marketing metrics for
Managers: aligning satisfaction, revenue, share of wallet, and profit; business results of share of wallet focus by; Field of Dreams mentality by; how satisfaction metrics are used and misused by; lack of insight in how to use competitive rank by; misleading belief of spending link to satisfaction; ramifications of the Wallet Allocation Rule for; satisfaction does not link to spending implications for; short-termism mistake by; understanding key drivers and barriers to share of wallet; understanding of opportunities for growth and ROIs; Wallet Allocation Rule strategic issues for; Wallet Allocation Rule’s customer-centric perspective for
Market barriers: affordability; distribution channel; Lloyds TSB; measuring the wrong; perceptual map reflecting grocery retailer; shared buying decision
Market share: deconstructing; formula for calculating; how to improve your rank and; JCP rebranding failure to capture; mass market brand satisfaction and; relationship between burger chain satisfaction and; relationship between customer satisfaction and, ; as strongly linked to competitive rank
Market share components: penetration; share of wallet; usage. See also Share of wallet
Marketing: annual budgets set aside for; breakdown of customer experience with; Peter Drucker on the aim of; typical CEO attitude toward; word of mouth
Mass market brands: satisfaction and market share of; satisfaction with niche versus
McDonald’s
McKinsey & Company
McKinsey study
Medical errors
Medical treatment failure rates
Meer, David
MENA retail banking: description of; drivers of share of wallet vs. drivers of NPS
Metrics. See Customer satisfaction metrics
Mexican supermarket chains
Microsoft Excel
Microsoft windows
Money-losing delighters
Montgomery Ward
Mt. Sinai School of Medicine
“My metric is best” argument
N
Narayanan, V. G.
National Geographic video
Needs-offer gap
Net Promoter Score (NPS): banks in Turkey’s satisfaction, share of wallet, and; comparing Wallet Allocation Rule accuracy to; comparison of ACSI and; description of; effective application of data of; examined as predictor of growth; grocer’s Wallet Allocation Rule case study on use of; HomeBanc Mortgage Corporation’s; how averages can be misleading; how managers use and misuse satisfaction metrics like; Jiffy Lube; MENA retail banking drivers of share of wallet vs. drivers of; relationship between business growth and; relationship between customer satisfaction and; of Thailand’s Arrow Bank; of the top three pharmacies in Chile; of U.S. credit unions; Wallet Allocation Rule used with; as weak predictor of share of wallet . See also Customer satisfaction metrics
Net Promoter Score (NPS) classification: Detractors; Passives; Promoters
New York Times
Newman, David
Next Gen Market Research Award for Disruptive Innovation
Niche brands: customer expectations of; satisfaction with mass market versus
Northwestern University
O
Organizational change: painful gap between CEO and CMO driving; resistance to; Wallet Allocation Rule implemented for. See also Change
P
Patient satisfaction
Penetration: description of; strategy to increase
Pepsi
Perception of performance: customer’s; share of wallet due to customer’s
Performance standards
Petersen, J. Andrew
Pfeffer, Jeffrey
Pharmacy retailing (Chile): damaged brand image of; description of the; drivers of share of wallet vs. drivers of NPS for Cruz Verde; NPS of the top three pharmacies; Wallet Allocation Rule applied to the
Price: myth that loyal customers are less sensitive to; relationship between satisfaction and
Price-based competition: failure of JCP’s changed approach to; Groupon offers for; Wallet Allocation Rule case study on grocer and
Profit. See Customer profitability
Project Impact (Walmart)
Purchase intention: marketing spent attempting to understand; Wallet Allocation Rule used with
Q
Quick-serve restaurants (QSRs). See Canadian quick-serve restaurant (QSR) market
R
R-square: to assess satisfaction/NPS metric links to share of wallet; Microsoft Excel formula for calculating
Rank. See Brand rank
Recommend intention
Reichheld, Fred
Reinartz, W.
Restaurants: ACSI of U.S. burger chains ; Canadian quick-serve; distribution channel barriers for
Retail banking: in China; drivers of share by credit union customers in; in Germany; in MENA (Middle East and North Africa); share of deposits in; in South Africa; in Turkey; understanding drivers of “share of mind” in; in the United Kingdom. See also Business banking
Return on investment (ROI): of Groupon offers; manager understanding of opportunities for growth and; strategies for maximizing
Return on Quality (Rust, Zahorik, and Keiningham)
Revenue: aligning satisfaction, profitability, share of wallet, and; cumulative customer profitability; profit versus
Rosenzweig, Phil
Rust, Roland T.
S
Safeway
Salcobrand (Chile)
Sasser, W. Earl, Jr.
Sears
“Share of Best” Grid
Share of deposits (retail banking): definition of; drivers of U.S. credit union customer; relationship of various metrics to U.S. credit union
“Share of mind,“
Share of wallet: aligning satisfaction, revenue, profit, and; averages and misleading belief that satisfaction is tied to; averages of fans vs. non-fans average satisfaction and; barriers to; based on competitive alternatives vis-à-vis brands; business results of manager focus on; correlations between Wallet Allocation Rule and; as demonstration of customer loyalty; description of; determining brand rank using; drivers for the top DIY retailers in France; drivers of satisfaction vs. drivers of; drivers of Tim Hortons; how customer loyalty increases; implications for managers of satisfaction not linked to; key drivers of; perceptual map of drivers of different grocery retailers,’; pharmacy retailer Cruz Verde drivers of NPS vs. drivers of; relationship between satisfaction to; as resulting from customer perception of competitive rank; satisfaction and NPS as weak predictors of; strategy to increase; Wallet Allocation Rule to calculate brand-level; Wallet Allocation Rule used to identify opportunities to expand; Wallet Allocation Rule used to link satisfaction and; Walmart stores in Mexico and their declining; Zipf distribution used to calculate the. See also Customer satisfaction metrics; Market share components
Shared buying decision barrier
Sharma, Samrat
Short-termism
Simon, William S.
Soriana (Mexico)
South African retail banking
Store-level satisfaction
Stuart, Jennifer Ames
Supermarkets. See Grocer retailing
Surety Bank
Sutton, Robert
Switching. See Customer switching
T
Target
Tijs, Marleen
Tim Hortons (Canada)
Trade Joe’s
Turkish retail banking: comparison of drivers of satisfaction and share of wallet; description of; satisfaction, NPS, and share of wallet for
Türkiye is Bankasi (I Bank) [Turkey]
U
UK Payments Council
The Ultimate Question (Reichheld)
United Kingdom retail banking: analysis of Lloyds TSB customers ; characteristics of; Current Account Switch Guarantee impact on the
U.S. credit union customers: drivers of share of deposits for retail banks by; relationship of various metrics to share of deposits by; study on usage by (2012); top driver of rank for
U.S. credit unions: description of; low fees of; NPS of; Wallet Allocation Rule score of
U.S. Department of Defense
Usage: description of; strategy to increase
V
Van Doorn, Jenny
Vanderbilt University
Vavra, Terry G.
Verizon
W
Wallace Company
Wallard, Henri
Wallet Allocation Rule advantages of applying the; average number of brands used to track; barriers to share of wallet under the; as the “best” metric; on buying decision being based on brand vis-à-vis competitive alternatives; correlations between share of wallet and; cross-cultural application of; customer-centric perspective of the; customer satisfaction put in competitive context using the; discovery of the; Disruptive Innovation award for; formula for calculating; for identifying opportunities to expand share of wallet; key drivers to share of wallet under the; linking satisfaction and share of wallet using the; as not being a panacea; performance standards required for effective; ramifications for managers of the; strategic issues of the; Zipf’s law foundation of. See also Customer satisfaction metrics
Wallet Allocation Rule data issues: inputting erroneous values; measuring the wrong brands; measuring the wrong people; measuring the wrong things
Wallet Allocation Rule implementation: circumstances leading to; disruptive innovation and benefits of; Rule 1: get the data right for; Rule 2: set the right performance standards for
Wallet Allocation Rule practice cases: in Canadian quick-serve restuarant (QSR) market ; cross-cultural application of; grocer case study of; in pharmacy retailing in Chile; steps for applying the; in UK retail banking market; in U.S. credit unions. See also Competitors; Customer satisfaction
Wallet Allocation Rule steps: 1: survey customers on their regular brand use; 2: gauge
satisfaction for each brand used; 3: calculate brand-level share of wallet
Wallet Allocation Rule/share of wallet correlations: changes and predicted changes in individual wallet share; by firm/brand preference and number of competitors; pattern of rank and wallet share; research findings on the. See also Share of wallet
Walmart: comparing same store sales of Target and; low ACSI scores and dominant market share of; as mass market brand; Mexican grocery market share held by; Project Impact and loss of sales by; same-store sales increases (2008) experienced by; stores in Brazil
The Washington Post
Wendy’s
Whole Foods
Wolf, Linda
Word of mouth
Y
Yapi ve Kredi Bankasi (Yapi Kredi) [Turkey]
Z
Zahorik, Anthony J.
“Zero Defections: Quality Comes to Services” (Reichheld and Sasser)