What is the difference between customer satisfaction and customer value?

  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…

Why under-promising and over-delivering is a poor strategy

  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…

Understanding the SERVQUAL Model

  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…

Disconfirmation Model of Customer Satisfaction

  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…

Benefits of Customer Satisfaction

  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…

Customer Value

  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…

Customer Satisfaction in Marketing

  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…