Overview
Synthesize the article linked below and relate back to the quoted texts too. You may also relate the readings and concepts to events and happenings you are exposed to in the real world, to personal experiences, or to information you have learned in classes.
"A company’s emphasis on customer satisfaction develops as a consequence of a customer orientation. Firms with a customer orientation set an expectation that all employees should seek to provide value to the customer in a way that meets, or exceeds, the customer’s expectations. A customer orientation makes up a part of the marketing concept, the idea that a firm’s long-term success must include a companywide effort to satisfy customer needs and wants."
"About 78 percent of consumers have changed their minds about buying a good or service because of a poor service experience.
On average, over time, loyal customers bring in up to 10 times as much revenue as the value of their first purchase.
It takes up to 12 positive experiences with a customer to make up for 1 unresolved negative experience a customer has.
News of bad customer service reaches more than twice as many people as comments about a good service experience a person or business has.
Perhaps most importantly, it is six to seven times more expensive to get a new customer than it is to keep an existing customer."