A company that wanted to measure its customers' levels of satisfaction should:
A) Not bother with determining why some customers are no longer buying its products
B) Rely solely on customer satisfaction measures as determined through survey and personal interview techniques
C) Not be concerned with how much a customer is buying from distributors of similar products
D) Look at customer satisfaction measures, annual retention rates as well as the frequency and size of customer purchases to determine customer satisfaction. Use an external market research company to determine customer satisfaction in order to make sure that the collected data are not biased

Question

Quizplus · Accepted Answer

In order to accurately measure customer satisfaction, a company should look at various factors such as customer satisfaction measures, annual retention rates, and the frequency and size of customer purchases. This provides a more comprehensive understanding of how satisfied customers are with the company and its products. It is also important to ensure that the data collected is unbiased, which can be achieved through the use of an external market research company. Simply relying on customer satisfaction measures through surveys and interviews may not provide a complete picture of customer satisfaction. Additionally, not being concerned with how much a customer is buying from distributors of similar products can lead to a lack of understanding of the company's competitive environment. Lastly, not bothering to determine why some customers are no longer buying its products can result in missed opportunities for improvement.

A Company That Wanted to Measure Its Customers' Levels of Satisfaction