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Consumer Behavior (MKT 530) Fall, 2015 Assignment No.1 Due Date: 01 December, 2015

Consumer Behavior (MKT 530) Fall, 2015
Assignment No.1
Due Date: 01 December, 2015
Total Marks: 10 Marks
Topic: Customer satisfaction
NOTE: Be proactive in submission, don’t wait for due date
Objective of Assignment
The basic objective of this assignment is to make students familiar with the importance of
understanding the customer satisfaction.
Learning Outcomes
After attempting this assignment students will be able to:
• Comprehend the practical implications of customer satisfaction in building the
loyal customers and generating customer value.
• Understand the essential role of customer satisfaction as a marketing tool.
The most important asset of any organization is its customers. Company use different tools to
satisfy and retain their customers. When a customer is satisfied with companies offerings it
becomes their strength for the company in market. Researchers define consumer satisfaction in
different ways, but normally it is believed that customer satisfaction measures how well the
expectations of a customer concerning a product or service provided by any company have been
met. It has different dimensions like quality of product and the quality of services provided to
customers. Companies use different techniques to make their customers happy with them for
example many fast food chains in order to give their customers an excellent experience and
satisfaction provide quality foods with good services at reasonable price. They give clean and
hygienic environment to make their customers feel good while enjoying their food. Such
companies provide convenience to customers in shape of having ideal locations of their food
chains, parking area and 24 hours of operations. When a customer places an order than he knows
that he is receiving a consistent satisfactory food at reasonable price. All these efforts are
directed to generate customer value.
Companies provide high level of services or benefits to satisfy their customers and increase
customer value. There are certain cases where satisfied customers pay more cost to enjoy these
benefits offered by company around us.
Keeping in view the above background, in your opinion why do companies strive to create
customer value? Mention any five reasons with logical justification.
Note: Your answer should not exceed 500 words.
Marking Scheme: 10 Marks
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understanding or visit http://linguistics.byu.edu/faculty/henrichsenl/apa/APA01.html
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Replies to This Discussion

Please Discuss here about this assignment.Thanks

Our main purpose here discussion not just Solution

We are here with you hands in hands to facilitate your learning and do not appreciate the idea of copying or replicating solutions.

Companies strive to create customer value to:

  1. Improves customer satisfaction.
  2. Fosters repeat customers and customer loyalty.
  3. Increases customer advocacy and referrals.
  4. Reduces customer churn.
  5. Creates a competitive advantage.
  6. Increases revenue and sales.
  7. Builds stronger customer relationships.

Is this correct answer..?? Please guide me if i am wrong..

Dear Students Don’t wait for solution post your problems here and discuss ... after discussion a perfect solution will come in a result. So, Start it now, replies here give your comments according to your knowledge and understandings....

OMG..... still no discussion.... 

yaar plz ye to btayen k
question hai keya

customer value create kesey karni hai ya customer value zaruri kiu hai?

customer value ko increase kry k liye companies q koshish kr rhi hain...?????
ye hai question

I have done it...

MKT530 solution 2015





To sustain in the market:

Mostly companies strive to create customer value because they want to sustain in the market through higher customer valued .Higher valued customers are backbone for any company to be more competitive in the market.

Retain good customers:

Companies strive to create customer value because they want to retain good customer who bring about increased revenue, lower customer acquisition costs and increased referrals.

Determining which customers to serve:

Customer value offer the opportunity to companies to determine which customers can be retained or given a higher level of services.

Help to recognize customer choice & customer segments:

Companies striving with customer value realizes the importance of the customer choice quality services understanding and the identification of the customer segments ,their needs and expectations.

To formulate future strategies:

Companies benchmark itself against what the best to strive in market to provide more superior customer value to its targeted customers. So Companies with vision to strive for higher customer values identify such gaps and develop actions & future strategies to fill such gaps.

is this a complete ans???????????


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