The Reign of the Customer: Customer-Centric Approaches to Improving Satisfaction (Hardcover, 2020)

Foreword Dr. Claes Fornell, Founder of the ACSI Chapter 1 Introduction to the American Customer Satisfaction Index (ACSI), Plus an Interview with Claes Fornell Chapter 2 Customer Expectations - Or, "What do your Customers Expect?" 2.1. Are Expectations Racing Upwards? "'Rapidly rising customer expectations' are often referenced as a warning to marketers; failure to meet these lofty and ever-rising new expectations could mean doom. But have customer expectations really been spiraling out of control, constantly racing upwards and forcing firms to always strive for new, perhaps unachievable heights?" 2.2. Who Expects the Most, and Why? "Customer expectations vary significantly across industries. For some industries, consumers think they will get little, while others expect the world. Which industries have the least and most demanding consumers walk through the door, where do the differences come from, and why do they matter?" 2.3. The Expectations-Satisfaction Gap "While consumers tend to have "rational" expectations, and thus expectations tend to be roughly aligned with perceived quality and customer satisfaction, some consumers have expectations far above delivered satisfaction, while other companies and industries tend to exceed expectations." 2.4. It's a Trap! Avoid the "We Always Exceed Expectations" Promise "Always exceeding expectations is, at least in the aggregate, somewhere between extremely difficult and downright impossible; very few companies consistently exceed expectations, as we examined above. Rather, firms should set strong but realistic expectations, strive to meet these expectations every time, and exceed them when possible." Detailed Table of Contents ( Continued ) Chapter 3 Perceived Quality - Or, "Does Performance Matter?" 3.1. Has Quality Improved? "'Total quality management' and process improvement initiatives - along with related customer-centric principles - have been the focus of engineers and marketers for several decades now. But have these principles translated to action and change? Has quality actually improved over the last 25 years?" 3.2. Products vs. Services "Selling products and providing high-quality customer service are very different activities. Why do consumers find products of higher quality than services? In our service-centric economies, will services ever be delivered that match or even exceed products in consumer-perceived quality?" 3.3. What Matters Most? It's Quality, Stupid "Many companies market largely on price as the core customer value; discounting and price incentivization still holds a position of prominence among the traditional "4Ps" as a marketing strategy. But what has a bigger impact on customer satisfaction, price or quality?" 3.4. Customization Trumps Reliability "As elements of overall quality perceptions, customization (goodness of fit) and reliability (durability) are key. But which is more important to consumers in driving their satisfaction?" Chapter 4 Perceived Value - Or, "Is it All About Price?" 4.1. Are Consumers Seeing Better Value? "In some ways, companies are more efficient than ever before, squeezing savings and improving profitability throughout the value chain. But have these efficiencies trickled-down to the customer? Have customers' perceptions of value improved over the past 25 years?" 4.2. Who are the Value Leaders? "Some companies, like subscription television service providers, offer very poor value propositions. Some companies wow their customers with an exceptional price-to-quality ratio. Who are the value leaders and laggards across the American economy?" Detailed Table of Contents ( Continued ) 4.3. Where does Value Matter Most? "While quality tends to trump value (and expectations) in driving customer satisfaction, a select few industries are value-centric, with consumers seeking competitive pr