expectations.oThe link between customer satisfaction and customer loyalty is not proportionaloThe following practices can help to recover customer goodwill after a negative experience.Set up a seven-day, 24-hour toll-free hotline (by phone, fax, or e-mail) to receive and act on complaints—make it easy for the customer to complain. Contact the complaining customer as quickly as possible. The slower the response, the more dis- satisfaction may grow and lead to negative word of mouth. Accept responsibility for the customer’s disappointment; don’t blame the customer.Use friendly, empathic customer service people.Resolve the complaint swiftly and to the customer’s satisfaction. Some complaining customers are looking for a sign that the company cares, not for compensation.oSatisfaction will also depend on product and service quality.Quality is the totality of features and characteristics of a product or service that bear on its ability to satisfy stated or implied needs.Maximizing Customer Lifetime ValueoUltimately, marketing is the art of attracting and keeping profitable customers.oThe well-known 80–20 rule states that 80 percent or more of the company’s profits come from the top 20 percent of its customers.
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