Customer Satisfaction Entrepreneurship 6, 2013

Class Objectives 1.Students are aware how customer satisfaction plays a role in business sustainability 2.Students understand aspects that govern your customer satisfaction Entrepreneurship 6, 2013

Are your customers satisfied? Entrepreneurship 6, 2013

"Customer satisfaction is the degree to which the needs, desires, and expectations of the customers will come and met or exceeded through a transaction that will result in repeat purchase or loyalty that continues“ (Band, 1991) Entrepreneurship 6, 2013

Customer Satisfaction Customer Loyalties Positive Feedback Repeat Order Cross Selling New Customers Entrepreneurship 6, 2013

Customer Satisfaction Typology Before Sales Satisfaction Deals with ease of finding information, ease of shopping process and availability of alternative product in the market Wikstorm (1981) Product and Price Satisfaction Deals with Price performance satisfaction After Sales Satisfaction Deals with after-sales service and product experience Marketplace Structure / Performance Satisfaction Deals with marketing system process, advertising model and process oriented model Entrepreneurship 6, 2013

Factors of Customer Satisfaction Topics Entrepreneurship 6, 2013

The Big 8 Factors Performance Features *Hanan and Karp, 1991 Reliability Conformance Durability Serviceability Aesthetics Perceived Quality Entrepreneurship 6, 2013

Performance Entrepreneurship 6, 2013

Features Entrepreneurship 6, 2013

Reliability Entrepreneurship 6, 2013

Conformance Entrepreneurship 6, 2013

Durability Entrepreneurship 6, 2013

Serviceability Entrepreneurship 6, 2013

Aesthetics KIA Sportage 2011, Red Dot Awards 2011 Entrepreneurship 6, 2013

Perceived Quality Entrepreneurship 6, 2013

Customer Loyalties Topics Entrepreneurship 6, 2013

How to lose your Customer Entrepreneurship 6, 2013

Customer Reaction Loyal Customer will give positive feedback to you and other potential customers Satisfied Customer will recommend product to other people Satisfied Customer will give positive feedback when asked Entrepreneurship 6, 2013

What are some of the simplest ways to show your customers that you value them? Smile at them and genuinely greet them. get to know your customers names and preferences. Learn how your customers use your products and services. Ask for their ideas and suggestions on how to improve or change your products or business.

Entrepreneurship 6, 2013

Service Profit Chain Employee Satisfaction Value Customer Satisfaction Customer Loyalty Profit & Growth Result from high quality support services and policies Create by satisfied, loyal and productive employee Influenced value of services provided for customer Result from customer satisfaction Stimulated primarily by customer loyalty Entrepreneurship 6, 2013

“As your Customers needs change you company needs to change to meet them” Entrepreneurship 6, 2013

Improving Customer Service Topics Entrepreneurship 6, 2013

Improving Customer Service 1.Stay in contact with customers on a regular basis Ask customers if they want to be updated by . Follow-up after each sale to see if they are satisfied with their purchase. Send an out a few days after their purchase, another in a week or two, and then another in a month. *Catherine Franz, Ten Ways To Help You Improve Your Customer Service Entrepreneurship 6, 2013

2.Create a customer focus group by inviting 10 to 20 loyal customers to meet regularly. Alternatively, send out a monthly survey to this group asking for ideas and input on how to improve your customer service. Give them a reward. Pay them, give them a gift certificate, or send them free product. 3.Have a web site that is easy to navigate. Add a frequently asked question's "FAQ" page and explain anything that might confuse your customers or visitors. Follow-up with an electronic survey with questions on how to increase your site's user- friendliness. Entrepreneurship 6, 2013

4. Resolve customer complaints quickly and completely. Answer all and phone calls within a few hours. This will show your customers you really care about them. 5. Don't make your customers or visitors hunt for your contact information. Make it easy for them to contact you. Offer as many contact methods as possible. Hyperlink all your addresses so they don't have to find or type it. Offer a toll free number. Entrepreneurship 6, 2013

6.If you have strategic alliances or employees, make sure they are familiar with your customer service policy. Give your employees bonuses or incentives to practice excellent customer service. Tell employees to be flexible with each individual customer, each one has different concerns, needs and wants. 7.Give your customers more than they expect. Send thank you gifts to long time customers. them greeting cards on holidays or birthdays if you have their address or online cards if you only have their e- mail address and name. Give bonuses to your customers who make a big purchase or multiple purchases. Entrepreneurship 6, 2013

8.U-welcome, please, and thank you and can never be over used. Be polite no matter what. Admit and apologize for mistakes quickly and make it up to them in BIG ways if you want them to continue being a customer. 9.Reward in points -- give customers a point for every dollar they spend. Set up a points-earned sheet. E- mail the customer an update monthly. If they send you a referral they get 10 points, if they buy something add 10 more points. 10.If your business is local, invite customers to your office for lunches, parties, barbecues, dances, seminars or other special events.

Entrepreneurship 6, 2013

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