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REMEMBER THIS!Concept:
Measuring Satisfaction
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There several techniques to measure There several techniques to measure customer satisfaction. customer satisfaction. Kotler gives 4:Kotler gives 4:
LOYAL
• Periodic surveys
• Customer Loss Rate
• Mystery Shoppers
• Monitor Competitive Performance
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I can say that we all did a science experiment at least once in our lives.
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I can say that we all did a science experiment at least once in our lives.
Even if some do experiments regularly,
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I can say that we all did a science experiment at least once in our lives.
Even if some do experiments regularly,everyone has felt this:
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I can say that we all did a science experiment at least once in our lives.
Even if some do experiments regularly,everyone has felt this:
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And you might have done this, too:
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And you might have done this, too:
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But all of you must have remembered these things:
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• where all your observations, inferences and conclusions are written down
• questions are answered
laboratory report laboratory report #1. You always make a#1. You always make a
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#1. #1.
• questions are answered by the consumers
• observations, inferences and conclusions about the product/service are formulated
laboratory report laboratory report = = periodic surveysperiodic surveys
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• Losses are inevitable.
• A few reagent spills is a usual occurrence.
• You really can’t achieve 100% yield.
#2. Reagent spills#2. Reagent spills
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#2. Reagent spills#2. Reagent spills
• You really can’t get 100% of the pie.
• You lose your share in the process.
• High customer attrition is a serious issue.
= = Customer Loss RateCustomer Loss Rate
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• In most experiments, you don’t really what results are.
• You can hypothesized but you are still partially in the dark.
#3. Unforeseen #3. Unforeseen circumstances / results circumstances / results
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#3. Unforeseen #3. Unforeseen circumstances / results circumstances / results
= Mystery= Mystery ShopperShopper
• Companies hire them to pose as potential buyers
• To report on strong and weak points of the product/service and the company
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#4. If you really don’t know what to do, #4. If you really don’t know what to do,
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#4. If you really don’t know what to do, #4. If you really don’t know what to do, it’s easy to look at what your neighbor is doing…it’s easy to look at what your neighbor is doing…
• The feeling of being at a loss is usual.
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#4. If you really don’t know what to do, #4. If you really don’t know what to do, it’s easy to look at what your neighbor is doing…it’s easy to look at what your neighbor is doing…
Disclaimer: applicable for undergraduate experiments only
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#4. If you really don’t know what to do, #4. If you really don’t know what to do, it’s easy to look at what your neighbor is doing…it’s easy to look at what your neighbor is doing…
• Companies buy competitor products and evaluate those against their own product.
• Gives insights about the market and its consumers
= = Competitive monitoringCompetitive monitoring
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In summary…In summary…
MEASURING CUSTOMER SATISFACTIONMEASURING CUSTOMER SATISFACTION
Periodic survey = Lab report
Customer Loss Rate = Reagent Spills
Mystery shoppers = Unforeseen Circumstances
Competitive Monitoring = copy neighbor
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REMEMBER THIS!Concept:Measuring Satisfaction