Which of the following BEST describes customer satisfaction?
A) It is important only to companies that have a differential competitive advantage.
B) It is the same as customer value.
C) It determines what kind of marketing strategy will be used.
D) It refers to the customer's feeling that a product has met or exceeded expectations.

Question

Quizplus · Accepted Answer

Customer satisfaction refers to the level of happiness a customer feels about a product or service they have purchased. It is based on their perception of whether the product or service met their expectations or exceeded them. Therefore, option D is the most appropriate definition. Options A and C are incorrect because customer satisfaction is important for all companies, not just those with a differential competitive advantage, and it does not determine the marketing strategy used but rather informs it. Option B is incorrect because customer value is a different concept altogether, referring to the benefits a customer receives in relation to the cost they pay.

Which of the Following BEST Describes Customer Satisfaction