What is a “Value Proposition”? A key aspect of a successful marketing strategy is the clear definition and communication of a sought-after value proposition. A good way to think about the firm’s value proposition is consider what is different and beneficial about the firm’s (or brand’s) offering/s in the marketplace. Over time, firms/brands will … Read more…
Customer Satisfaction (CSat) and Customer Value are Different Concepts in Marketing Customer satisfaction and value are both fundamental concepts in the understanding of marketing. It is important to note that while they are highly interrelated, they also operate independently. Essentially, value is when a consumer perceives that they will get a good deal from … Read more…
Don’t Under-promise and Over-deliver! It’s a common cliché to under-promise and over-deliver, which even some marketing consultants and professional speakers have tended to suggest. The problem with this approach is that it is based on a very simplistic understanding of the customer satisfaction model and is a very poor strategic choice for a firm. … Read more…
About the SERVQUAL (or RATER) Model (Note: This model is also referred to as the RATER model, which stands for the five service factors it measures, namely: reliability, assurance, tangibles, empathy and responsiveness.) As is indicated by the name of this model, SERVQUAL is a measure of service quality. Essentially it is a form … Read more…
What are the limitations of CSat? (Customer Satisfaction) As we know, there are many benefits of customer satisfaction and many firms strive to maximize their CSat scores. In service firms in particulars, customer satisfaction is often their key marketing goal (and most significant marketing metric) that is regularly tracked and assessed. However, there are … Read more…
Introduction to the Disconfirmation Model of Consumer Satisfaction Essentially customer satisfaction is the consumer’s evaluation of how well the firm (usually a service firm) has lived up to their promises. As outlined in the general discussion of customer satisfaction, consumers compare their initial expectations of likely value against their perception of the actual value … Read more…
Key Benefits of Customer Satisfaction in Marketing Customer satisfaction is a fundamental concept addressed in all marketing textbooks and many organizations consider it the most important marketing goal, because it should deliver ongoing customer loyalty and resultant enhanced profitability. But there are actually many more benefits of customer satisfaction, as shown and discussed in … Read more…
What is customer value? Customer value is a fundamental concept in the study of marketing and is usually covered in the opening chapter of a marketing textbook. Virtually all organizations strive to deliver good overall value for both their current and potential customers value. Without providing true customer value firms will be unable to … Read more…
Understanding Customer Satisfaction Customer satisfaction is a fundamental concept in modern marketing. In many organizations, customer satisfaction is considered the most important marketing metric, primarily because it is considered a key driver of customer loyalty and bottom-line financial performance. In most cases, customer satisfaction is more important to service firms (as opposed to manufacturers). … Read more…
