Posted in Marketing and Strategy Terms, Total Reads: 3127
Definition: Customer Satisfaction
Customer satisfaction measures how well a firm is able to meet the expectations of customers. Customer satisfaction is a key concept in marketing, as a firm cannot retain its customers unless it has highly satisfied customers.
The following are some of the factors that are necessary of customer satisfaction:
- Quality Product at right price
- Proper after Sales Service
- Delivering the promised benefits
The customer satisfaction is measured through feedbacks and surveys. Surveys are specially designed for past customers to measure their satisfaction level on various parameters. Customer satisfaction becomes more important in highly competitive industries like FMCG products, where the customer can change its loyalty quickly.