The satisfied customer : winners and losers in the battle for buyer preference

In a world where consumers have access to an abundance of free information about purchase alternatives, business managers must adapt to a startling new reality. What businesses and investors must realize, says Fornell, is that customers know something that Wall Street has yet to figure out. __The Satisfied Customer__ makes the case that global market forces are all pointing towards one inevitable truth: the cost of poor service will soon be borne by the companies that serve it – not the customers that receive it. __The Satisfied Customer__ prepares managers and investors for a major shift in economic power thatВ will change how capital moves, how corporate assets areВ managed,В and ultimately, how business is done.This book describes how companiesВ that underestimate theВ newly-empowered customerВ are punished by product and equity markets alike, and offers practical advice on how to prosper when buyers are kings and investment capital fuels their power. The implications of the newly-empowered buyer turn much of conventional business practice on its head. __The Satisfied Customer__ explains how superior financial returns can go hand-in-hand with reduced risk; why customer satisfaction should __not__ be maximized, but customer complaints should; why exceeding customer expectations is a bad idea; why getting too close to customers should be avoided, how customer loyalty can sometimes be too costly, and why high productivity is not always a good thing. According to the __New York Times__, Claes FornellвЂTMs American Customer Satisfaction Index (ACSI) is the definitive benchmark for how consumers feel about the products they buy. __The Satisfied Customer__ draws from the ACSI database and CFI Group cases, including examples from Amazon.com, American Airlines, Apple, AT&T, Best Buy, Chrysler, Circuit City, Comcast, Costco, Charter Communications, Dell, Double Tree Club Hotel, eBay, Electrolux, Florida Marlins, Ford, Gateway, Google, Haier, H&R Block, Hyundai, KLM, Kmart, McDonaldвЂTMs, Northwest Airlines, Microsoft, Southwest Airlines, Sprint Nextel, the Swedish Postal Service, Time Warner, Toyota, Trader JoeвЂTMs, Volvo, Whole Foods, and many others, to reveal the winners and losers in the battle for buyer preference. In a world where consumers have access to an abundance of free information about purchase alternatives, business managers must adapt to a startling new reality. What businesses and investors must realize, says Fornell, is that customers know something that Wall Street has yet to figure out. The Satisfied Customer makes the case that global market forces are all pointing towards one inevitable truth: the cost of poor service will soon be borne by the companies that serve it – not the customers that receive it. The Satisfied Customer prepares managers and investors for a major shift in economic power thatВ will change how capital moves, how corporate assets areВ managed,В and ultimately, how business is done. This book describes how companiesВ that underestimate theВ newly-empowered customerВ are punished by product and equity markets alike, and offers practical advice on how to prosper when buyers are kings and investment capital fuels their power. The implications of the newly-empowered buyer turn much of conventional business practice on its head. The Satisfied Customer explains how superior financial returns can go hand-in-hand with reduced risk; why customer satisfaction should not be maximized, but customer complaints should; why exceeding customer expectations is a bad idea; why getting too close to customers should be avoided, how customer loyalty can sometimes be too costly, and why high productivity is not always a good thing. According to the New York Times , Claes FornellвЂTMs American Customer Satisfaction Index (ACSI) is the definitive benchmark for how consumers feel about the products they buy. The Satisfied Customer draws from the ACSI database and CFI Group cases, including examples from Amazon.com, American Airlines, Apple, AT&T, Best Buy, Chrysler, Circuit City, Comcast, Costco, Charter Communications, Dell, Double Tree Club Hotel, eBay, Electrolux, Florida Marlins, Ford, Gateway, Google, Haier, H&R Block, Hyundai, KLM, Kmart, McDonaldвЂTMs, Northwest Airlines, Microsoft, Southwest Airlines, Sprint Nextel, the Swedish Postal Service, Time Warner, Toyota, Trader JoeвЂTMs, Volvo, Whole Foods, and many others, to reveal the winners and losers in the battle for buyer preference. "In our world of increasingly available information technology and rapid globalization, the shifting balance of power between buyers and sellers is often overlooked. The implications for business are tremendous, Claes Fornell argues, as he turns much of conventional business practice on its head." "Fornell describes how to harness increasing buyer power in ways that are often paradoxical and at odds with current practice, and how businesses and investors can benefit from better managing their newly empowered customers. What businesses must realize, he explains, is that customers know something that Wall Street has yet to figure out." "According to the New York Times, Claes Fornell's American Customer Satisfaction Index (ACSI) is the definitive benchmark for how buyers feel about the products they are sold. Drawing on the results of the ACSI database and including examples from BestBuy, Dell, Amazon.com, Haier, and many other companies, he reveals the losers and the winners in big business in the customer satisfaction arena. He also explains how to quantify and increase the financial value of a firm's customer relationships - what he calls the Customer Asset. Fornell has provided consulting services to a wide array of companies throughout the world and demonstrates an in-depth understanding of the important issues. This book provides a key strategic tool for modern management and is an indispensable guide to maximizing customer assets."--Jacket Contents......Page 6 List of Figures and Tables......Page 8 1 Introduction......Page 10 2 The Big Picture......Page 40 3 The Science of Customer Satisfaction......Page 72 4 When Customer Satisfaction Matters and When It Doesn’t......Page 108 5 Customer Satisfaction and Stock Returns: The Power of the Obvious......Page 142 6 Things Aren’t Always What They Seem: Inadvertently Damaging Customer Assets......Page 164 7 Customer Asset Management: Offense Versus Defense......Page 190 8 Putting the Numbers to Work......Page 220 Notes......Page 240 A......Page 248 C......Page 249 F......Page 251 J......Page 252 M......Page 253 P......Page 254 S......Page 255 Y......Page 256 Arguing that a positive customer relationship is a business's most important asset, a modern blueprint for achieving and maintaining customer satisfaction draws on examples from top companies to address key areas of concern. 30,000 first printing.