HTH 102 Lecture Notes - Lecture 7: Customer Satisfaction, Job Satisfaction, Colt New Service

• School: Ryerson University
• Department: Hospitality and Tourism Management
• Course: HTH 102
• Professor: Christopher Gibbs

Document Summary

Service profit chain companies increased stock value by 147% while nearest competitors only increased stock value 110: customer loyalty drives profitability and growth, customer satisfaction drives customer loyalty. More likely to consolidate their purchases and spread positive wom. Service designed and delivered to meet targeted customer needs: value drives customer satisfaction, quality and productivity drive value. Better knowledge = better meet their needs of the customer than. Employee loyalty drives service quality and productivity. If we get happy employees first, we need an environment that keeps them encaged. Employees will get better at what they are doing the more skills (mastery) Customer stays and buy more, motivates and refers to friends (customer retention. No lay offs, turnovers, cut in pays. Herded onto planes with no assigned seats. More likely to work hard, get better and stay loyal. Come to work and does their job happily. Helps business grow because share same goals.