Published by MBA Skool Team, Last Updated: December 21, 2016
What is Moment of Truth?
Moment of truth is that particular instance or the moment when there is interaction between a customer and a firm, when a product is sold or the delivery of a service is done, that can result in the customer forming or changing his opinion about the brand or the firm. Moment of truth is a very important aspect of business as the experience of the customer is of utmost importance and a good experience can have a loyal customers.
There are four Moments of Truth:
Zero Moment Of Truth:
This is the first moment of truth. It happens when a customer has a need which has not been met and the customer is looking for a solution for his/her need to be met. It happens when a customer starts searching for options or alternatives which will fulfill his need. It occurs mainly when a customer checks out various alternatives for fulfilling his needs online on his/her laptop mobile phone or any other wired device and reads reviews about them before buying them.
First Moment of Truth:
This term was introduces by Proctor and Gamble. This occurs when the customer actually interacts with the firm or the product or service. It is what impressions people form or what people think when they come in contact with the product or service. It is the decision point when a person decides whether or not he/she will buy the product.
Second Moment of Truth:
This term was also introduced by Proctor and Gamble. This occurs after the customer has already bought the product and started using it and experiencing it. This moment is as long as the customer keeps using the product. It is very important as it shows the customer whether the brand is delivering the quality it promises.
Ultimate Moment of Truth:
This term was introduced by Solis. The ultimate moment of truth is that moment when customers share their experience about a firm or product with others who are going through their zero moments of truth. In this moment of truth the customer becomes the brand ambassador of the firm or product. If the customers experience with the product was good then the word of mouth spread by the customer will be good, however if the customer’s experience was not good then the customer will spread negative word.
Hence, this concludes the definition of Moment of Truth along with its overview.
This article has been researched & authored by the Business Concepts Team. It has been reviewed & published by the MBA Skool Team. The content on MBA Skool has been created for educational & academic purpose only.
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