Question

• List four of the six reasons why Customer Satisfaction is important.

• Explain the difference between measuring the quality of a manufactured product vs. the quality of a service product.

• A typical company gets 65 percent of its business from existing customers. Explain why it is so important to understand this concept.

• Three of the ways customers are segmented are demographics, geographic, and “vital few and useful many.” Provide an example of each and why you’ve elected to use these examples to focus your business decisions.

• Contrast the mindset of traditional management with that of TQM.

Answer 1

Customer satisfaction is how customers or people are happy to use the products or sevices offered by the company. It is always important to every organisation or firm to stand in the economy and to make their own benefits through their business.

The reasons for customer satisfaction is important is;
1) It matters even more than the price.
2) It keeps the brand ahead of the other competitors in the market.
3) It promotes customer retention and customer loyalty towards them.
4) It reduces the negtive word of mouth about the brand and products.

Difference between measuring the quality of a manufactred product and quality of service product. Customer satisfaction is impact by product & serice quality. In the purchase intentions of a customer, customer loyalty and ultimately an organizations or firms fund stream are affected by customer satisfaction.

In that consumer loyalty has an immediate relationship to a positive income stream, the achievement of a business is service and product quality.
In that item quality methods an association's capacity to deliver minimal effort items at a high volume, quantitative instruments are every now and again used to gauge item quality. The instruments every now and again used to gauge administration quality, item quality evaluation devices assess how much an item to its proper determinations.

The company have 65% of business amoung their existing customers because of the loyalty and customer satisfaction towards the company from the public.