Tuesday, January 29, 2013

Customer Satisfaction and Customer Value

Are customer satisfaction and customer value interdependent or mutually exclusive? Can satisfaction occur simultaneously with low customer value?

According to the customer satisfaction and customer value's definitions it appears that the two are mutually exclusive. They survive by the other. If the value of the product is high there is no guarentee that it will sell due to the consumers. Due to some being price sensitive, the product would have to deliver a benefit that is worth the money; or there won't be a sale. By providing the product with a good value to consumers, customer satisfaction would correspond directly to that value. This would mean that the product has met the needs and expectations of the consumers. This also allows the leeway for satisfaction to occur simultaneously with low customer value. Companies such as Walmart, strive to provide the consumers with low costing products that will meet the needs and expectations of the consumers. In fact that is what the company has always focused on. 

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