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Customer Satisfaction in Marketing

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Questions and Answers

What is customer satisfaction in the context of marketing?

A measure of how products and services meet or surpass customer expectation (correct)

The total revenue generated by a company

The number of products sold by a company

The number of customers who have purchased a product

Why are enhancing customer satisfaction and fostering customer loyalty pivotal for businesses?

To expand the company's market reach

To increase the number of products sold

To reduce the cost of production

To improve the balance between customer attitudes before and after the consumption process (correct)

Which theoretical framework is most widely accepted for explaining customer satisfaction?

Contrast Theory

Expectancy Disconfirmation Theory (correct)

Equity Theory

Attribution Theory

What is the primary goal of using various theoretical frameworks to gain insights into customer satisfaction?

To understand and improve customer satisfaction Signup and view all the answers

What is the definition of customer satisfaction as per the text?

The number of customers, or percentage of total customers, whose reported experience with a firm, its products, or its services exceeds specified satisfaction goals Signup and view all the answers

What is the origin of the conceptualization of service quality as a comparison of perceived expectations and perceived performance?

The origin is in the expectancy-disconfirmation paradigm. Signup and view all the answers

How can a business achieve high service quality while remaining economically competitive?

By meeting or exceeding customer expectations. Signup and view all the answers

What is the equation for service quality in its contemporary conceptualization?

SQ = P - E Signup and view all the answers

What are some methods for achieving improvements in service quality?

Improvements to service quality may be achieved by improving operational processes; identifying problems quickly and systematically; establishing valid and reliable service performance measures and measuring customer satisfaction and other performance outcomes. Signup and view all the answers

According to empirical studies, what impact does improved service quality have on profitability and long term economic competitiveness?

Improved service quality increases profitability and long term economic competitiveness. Signup and view all the answers