Ransford Basics Certificate Course in Building Customer value

In general, satisfaction is a person’s feelings of pleasure or disappointment that result from comparing a product or service’s perceived performance (or outcome) to expectations.  If the performance or experience falls short ofexpectations, the customer is dissatisfied. If it matches expectations,the customer is satisfied. If it exceeds expectations, the customer is highly satisfied or delighted. Customer assessments of product or service performance depend on many factors, including the type of loyalty relationship the customer has with the brand. Consumers often form more favorable perceptions of a product with a brand they already feel positive about. Research has also shown an asymmetric effect ofproduct performance and expectations on satisfaction: The negative effect on customer satisfaction of failing to meet expectations is disproportionally stronger than the positive effect of exceeding expectations. Although the customer-centered firm seeks to create high customer satis...