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customer value,satisfaction & loyalty

customer value,satisfaction & loyalty

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Published by: api-3755979 on Oct 15, 2008
Copyright:Attribution Non-commercial

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05/09/2014

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1
1
Focusing on
Focusing on
Customers
Customers
Chapter 4
Chapter 4
Key Idea
Key Idea

To create satisfied customers, the
organization needs to identify
customers\u2019 needs, design the
production and service systems to
meet those needs, and measure the
results as the basis for
improvement.

3
3
Importance of Customer
Importance of Customer
Satisfaction and Loyalty
Satisfaction and Loyalty
\ue000\u201c
\u201cSatisfaction is an attitude; loyalty is a
Satisfaction is an attitude; loyalty is a
behavior\u201d
behavior\u201d
\ue000Loyal customers spend more, are
Loyal customers spend more, are
willing to pay higher prices, refer new
willing to pay higher prices, refer new
clients, and are less costly to do
clients, and are less costly to do
business with.
business with.
\ue000It costs five times more to find a new
It costs five times more to find a new
customer than to keep an existing one
customer than to keep an existing one
happy.
happy.
\ue000A firm cannot create loyal customers
A firm cannot create loyal customers
without first creating satisfied
without first creating satisfied
customers.
customers.

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