Podcast
Questions and Answers
What is the key factor that influences customer satisfaction?
What is the key factor that influences customer satisfaction?
What is the primary task of marketing?
What is the primary task of marketing?
What is the outcome of marketing helping to create public awareness of a company's products and services?
What is the outcome of marketing helping to create public awareness of a company's products and services?
What is the purpose of marketers continuously aiming to create an image of the company?
What is the purpose of marketers continuously aiming to create an image of the company?
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What is the equation used to determine the level of a customer's satisfaction?
What is the equation used to determine the level of a customer's satisfaction?
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What is the primary purpose of associating a brand name with images, logos, or captions in advertisements?
What is the primary purpose of associating a brand name with images, logos, or captions in advertisements?
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Which of the following is NOT a type of utility created by marketing?
Which of the following is NOT a type of utility created by marketing?
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What is the primary benefit of marketing to customers in terms of product choices?
What is the primary benefit of marketing to customers in terms of product choices?
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How has technology impacted marketing, according to the text?
How has technology impacted marketing, according to the text?
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What is a social responsibility initiative mentioned in the text?
What is a social responsibility initiative mentioned in the text?
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Study Notes
Customer Satisfaction
- Customer satisfaction occurs when their expectations match the actual performance of a product.
- Customer satisfaction is a personal experience that varies from individual to individual.
- Satisfaction can be measured by comparing pre-purchase expectations and post-purchase experience.
- The equation to determine customer satisfaction is: Customer Satisfaction = Experience - Expectation
Importance of Marketing
To Marketers
- Marketing promotes product awareness to the public through heavy advertising, sales promotion, personal selling, and direct marketing.
- Marketing helps enhance product sales and revenue growth by creating awareness and generating sales.
- Marketing builds company reputation by creating an image of the company in the public's eyes.
To Customers
- Marketing promotes product awareness to the public, creating awareness about products and services.
- Marketing helps in enhancing product sales by generating sales and revenue growth.
- Marketing builds a company's reputation, creating an image of the company in the public's eyes.
- Marketing creates utilities, such as form, place, time, information, and possession utility.
- Marketing provides a large number of choices available to customers.
- Marketing offers more platforms available to customers, including offline and online platforms.
To the Society
- Marketing is a source of employment, offering a wide range of career opportunities in personal selling, packaging, advertising, marketing research, consultancy, distribution, and channel sales.
- Marketing contributes to the welfare of customers and stakeholders through corporate social responsibility initiatives.
- Examples of corporate social responsibility initiatives include HUL's Behaviour Change Program and 'Help A Child Reach 5'.
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Description
This quiz covers the concept of customer satisfaction, its measurement, and importance in marketing. Learn how expectations and experience impact satisfaction and how it's measured.
