MRKT 354 Chapter Notes -Net Promoter, Customer Retention, Customer Satisfaction
19 Nov 2012
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Chapter 1: in today"s globally competitive world, customers expect more, have more choices, and are less brand loyal. Customer focus and profitability the major benefit of a strong customer focus is long-run survival. Western companies have been criticized for their short-term perspective which lacks strong customer focus and a commitment to customer relations. Businesses with a strong customer focus not only outperform their competition over the long term, but they also realize higher profits in the short run. A business with a weak customer focus underwhelms the customer and shareholders it only has a superficial understanding of the customer and the market and its competition. An essential performance metric is customer satisfaction. One of the ways to compute this is by a customer satisfaction index (csi) which is based on customers ratings of their overall satisfaction. Derived from a 6 point scale that ranges from zero for very dissatisfied to.
