ADMS 3220 Lecture Notes - Lecture 3: Customer Satisfaction
19 Dec 2015
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Product: the most central of the 4ps, the ultimate consumer purchase, which can be either a good or service. What is it that the company is well-suited to offer to its customers: the goal is to create mutually beneficial exchanges that result in long-term. Services cannot be stored; they"re produced and consumed instantly. Services experience and credence qualities: variability. Services are not given the same way every time: core is essential to the product offering, value-added is supplemental and is used to identify competition and, dynamic strategies: differentiate. Core businesses may change as industries and firm"s competencies change (ex: ibm went from pcs to it solutions) Depth: number of products in a line. Chapter 14 customer satisfaction and customer relationships. Customer evaluations include: customer satisfaction, perceptions of quality, customers" intentions of repurchase and word of mouth, etc. Loyal customers are more profitable because: simulate revenue growth, are less expensive to serve, refer new customers, willing to pay a premium price.
