Tuesday, January 29, 2013

Q2 Customer Satisfaction vs. Customer Value


                     Customer Satisfaction and customer value is interdependent. When a customer is looking to purchase a particular product they are looking to get what they perceive to be the best value for the product. In order for them to find the best valued product they take into account factors such as how well the product works, cost, quality, customer service and support, and reliability. Each customer rates and ranks these factors differently but all are part of how the customer values a product.  These factors are graded by the experience the customer has with the company and how the product meets the customers’ expectations. The evaluation of those two areas determines if the customer believes he or she received a good or bad value. If the customer does believe they’ve received a good value then they are satisfied, if not then they are unsatisfied. 

Which of the factors of value to a customer do you think is most important to customer satisfaction? Why?

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