What is Customer Value?Customer value is a key topic in the study of marketing. But what is meant by customer value? It varies by customer, so let’s look at a few examples of how consumers see value. In each case the consumer’s statement gives some insight into how they assess value.As you will see, value […]
How Consumers See Value Find Out More...
What are some possible benefits and costs when determining customer value?A fundamental concept in successful marketing activities is the offering of value to the firm’s target market/s.Benefits are delivered through design aspects and product attributes that provide some advantage or positive outcome for the end-consumer. The more benefits perceived by the consumer, the more likely
List of Benefits and Costs Find Out More...
List of SERVQUAL QuestionsBelow is a table (and a diagram at the bottom) containing the 22 questions originally used to construct the SERVQUAL model. There are several issues to note about the structure of the SERVQUAL questionnaire:About half the questions are posed as a negative question (as highlighted in the below table). This approach was
SERVQUAL’s 22 Questions Find Out More...
Learn about the key differences between service quality and customer satisfaction in marketing and customer service. Find out why it’s important for companies to achieve both high levels of service quality and customer satisfaction for long-term success.
Service Quality versus Customer Satisfaction Find Out More...
What is meant by “execution” in an advertising sense?In advertising and communication programs, one of the challenges is to execute a good creative idea.Marketing students sometimes have difficultly understanding how an idea may or may not be executed well.This is because, in theory, once a creative campaign has been planned out, its execution should be
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A Good Example for Understanding PositioningPositioning is how the firm or brand wants to be perceived by consumers relative to its competitors. It is a very important topic in the study of marketing and usually forms the basis of a firm’s competitive strategy. Typically the firm structures its entire range of marketing mix elements around
Positioning Example: Banks versus Credit Unions Find Out More...
Is a High Customer Satisfaction Goal Worthwhile?The ongoing pursuit of high customer satisfaction (CSAT) scores may have a negative impact on the firm’s profitability over time.While there are substantial benefits stemming from high CSAT, it is important to balance both the needs of the firm and its customers.Because of the interplay between the consumer’s expectations
High Customer Satisfaction Goals May Lead to Reduced Profitability Find Out More...
Overtime most customers will be “just” satisfiedMany organizations find it frustrating that their customer satisfaction (CSat) scores reach a plateau and it becomes very difficult to achieve real increases in CSat. However, this is caused “naturally” and, overtime, all firms will find that their customer base primarily fits into the “just satisfied” range on their
Why most customers are just satisfied Find Out More...
Is Pursuing High Customer Satisfaction Worthwhile?The relationship between high customer satisfaction, leading to increased customer retention (loyalty), resulting in increased long-term profitability is generally well supported by academic research and commercial practice.But there are situations and industries where this logical relationship may not hold true. Therefore, when reviewing customer satisfaction issues it is important to
The High Customer Satisfaction and Low Profitability Paradox Find Out More...
A value proposition is the overall package of perceived value (that is, key benefits less costs) offered by a product (or by a firm or brand).
Value Proposition Find Out More...
