Monday 11-2

Monday 11-2 - ImportanceofCustomer Satisfaction...

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The average business does not hear  from 96% of its unhappy customers For every complaint received, 26  customers actually have the same  problem The average person with a problem tells  9 or 10 people, 13 percent will tell more  than 20 Importance of                  Customer  Satisfaction
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Customer Retention Acquisition of customers can cost 5 times more  than retaining current customers The average business loses 10% of its  customers each year A 5% reduction to the customer defection rate  can increase profits by 25% to 85% Improving customer retention by 2 percent can  decrease costs by as much as 10 percent The customer profit rate increases over the life  of a retained customer
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Factors influencing  Complaint Behavior Level of dissatisfaction of the consumer Attitude of the consumer toward  complaining Amount of benefit to be gained Personality of the consumer Attributions Customer king ?
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Attribution Theory Affects our CS/D in terms of: Stability - happen often?   Temporary? Focus - internal/external Controllability - could something  have been done to prevent this?
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Attribution Theory 2x2x2 - Stable/unstable;  internal/external;  controllable/uncontrollable The plane is late Give me a description of an  attribution that is unstable, external,  and controllable 
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Service Recovery What do you do if something  goes wrong? What do you as a consumer  look for in response to  service failures?  
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Service Recovery 1. Getting people to complain 5-10% of dissatisfied customers choose to  complain 2. Effective resolution  Fair procedures  Fair outcomes  Fair interactions
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This note was uploaded on 02/11/2010 for the course MKT MKT 300 taught by Professor Eaton during the Spring '10 term at ASU.

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Monday 11-2 - ImportanceofCustomer Satisfaction...

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