Question

If the company decides to move forward with its international expansion, what types of new customer categories will be created? Will the new customer constituents resemble the existing ones? Perform a hypothetical customer profitability model analysis on the new customers.

Answer 1

Its international expansion,

When establishing in a new country, businesses have to consider all aspects of the formation process such as in-country banking, data privacy and protection policies, set-up and transfer of benefits, pensions and healthcare contracts, and much more.

In order to employ workers in the new country, however, three very important steps must be completed:

A.Form an in-country legal entity

B .Set up as an employer

C .Register with Social Security authorities

Customer satisfaction reflects the expectations and experiences that the customer has with a product or service. Consumer expectations reflect both past and current product evaluation and user experiences.

Understanding the following 7 customer expectations form the definitions below is critical before you set out to measure customer satisfaction and increase customer loyalty.

1.Explicit Expectations

Explicit expectations are mental targets for product performance, such as well-identified performance standards.

2.Implicit Expectations

Implicit expectations reflect established norms of performance. Implicit expectations are established by business in general, other companies, industries, and even cultures.

An implicit reference might include wording such as “Compared with other companies…” or “Compared to the leading brand…”

3.Static Performance Expectations

Static performance customer expectations address how performance and quality are defined for a specific application. Performance measures related to quality of outcome may include the evaluation of accessibility, customization, dependability, timeliness, accuracy, and user-friendly interfaces.

4.Dynamic Performance Expectations

Dynamic performance customer expectations are about how the product or service is expected to evolve over time. Dynamic expectations may be about the changes in support, product, or service needed to meet future business or use environments.

5. Technological Expectations

Technological customer expectations focus on the evolving state of the product category.

For example, mobile phones are continually evolving, leading to higher expectations of new features.

6. Interpersonal Expectations

Interpersonal customer expectations reflect the relationship between the customer and the product or service provider.

Person to person relationships are increasingly important, especially where products require support for proper use and functioning.

7. Situational Expectations

In building a customer satisfaction survey, it is also helpful to evaluate why pre-purchase expectations or post-purchase satisfaction may or may not be fulfilled or even measurable.