Tuesday, February 19, 2013

Customer satisfaction vs customer value. 1/29/13

Are customer satisfaction and customer value interdependent or mutually exclusive?  Can satisfaction occur simultaneously with low customer value?

I believe customer satisfaction and customer value go hand and hand which portrays them being interdependent rather than mutually exclusive.  Customer satisfaction is one of the most important factors in sales and making sure your business succeeds.  If your customers are not satisfied with your product or service, they won't be your customers for long.  Customer value is what the customer gets from the product or service and what they had to give in order to get it.  That ties right in with customer satisfaction because customers are most satisfied when they get good results and don't have to give up much for it.  As a customer to a lot of different things myself, I am always most satisfied when the price is low for the product or service I am paying. However, better things cost more and if they are proven to be successful, then deserve to be worth more money.  I don't believe satisfaction can occur simultaneously with low customer value because good customer value brings satisfaction to the customer.  Nobody would be happy or satisfied if they paid for a product or service and it broke or didn't work.  Customer satisfaction and customer value are interdependent and the businesses that match both of those together with their product or service are the most successful.

Although customer satisfaction and customer value are interdependent, which one is more important?

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