Marketing management
Customer satisfation and customer value. How are those related?
Since this is not my area of expertise, I searched Google under the key words "customer satisfaction value" to get these possible sources:
http://www.adamssixsigma.com/Newsletters/measure_value.htm
http://www.crm2day.com/highlights/EpVlVFZukypFKdpVuU.php
http://www.mckinsey.com/practices/marketing/ourknowledge/pdf/Solutions_Customer_Satisfaction.pdf
http://www.1000ventures.com/business_guide/crosscuttings/customer_satisfaction.html
http://72.14.253.104/search?q=cache:dOCd_YBhoasJ:www.kpmg.de/about/press_office/11543.htm+customer+satisfaction+value&hl=en&ct=clnk&cd=10&gl=us&client=safari
In the future, you can find the information you desire more quickly, if you use appropriate key words to do your own search.
I hope this helps. Thanks for asking.
Customer satisfaction and customer value are two important concepts in marketing management, and they are closely related. Customer satisfaction refers to the degree to which a customer is satisfied with a product or service. It is typically measured through surveys or feedback mechanisms, and it reflects the customer's perception of the overall experience with a company or brand.
On the other hand, customer value refers to the benefits and quality that a customer derives from purchasing and using a product or service. It encompasses both the tangible and intangible aspects of the offering, including features, price, convenience, and customer support.
The relationship between customer satisfaction and customer value lies in the fact that satisfied customers tend to perceive greater value in a product or service. When customers are satisfied, they are more likely to believe that they have received a fair exchange between the benefits they received and the costs associated with the product. This positive perception of value can lead to increased customer loyalty, repeat purchases, and positive word-of-mouth recommendations.
In essence, customer satisfaction is an important driver of customer value. By delivering products and services that meet or exceed customer expectations, companies can enhance customer satisfaction and ultimately increase the perceived value of their offerings. This, in turn, can lead to long-term customer relationships and business success.
Sources:
- Adams Six Sigma: Measure Value to Drive Customer Satisfaction (http://www.adamssixsigma.com/Newsletters/measure_value.htm)
- CRM2DAY: The Relationship between Customer Satisfaction and Customer Value (http://www.crm2day.com/highlights/EpVlVFZukypFKdpVuU.php)
- McKinsey & Company: Solutions: Customer Satisfaction (http://www.mckinsey.com/practices/marketing/ourknowledge/pdf/Solutions_Customer_Satisfaction.pdf)
- 1000ventures: Customer Satisfaction (http://www.1000ventures.com/business_guide/crosscuttings/customer_satisfaction.html)
- KPMG: Customer Satisfaction - Consistent & Individual (http://72.14.253.104/search?q=cache:dOCd_YBhoasJ:www.kpmg.de/about/press_office/11543.htm+customer+satisfaction+value&hl=en&ct=clnk&cd=10&gl=us&client=safari)