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Branding Query: Consumer Satisfaction Explained

Consumer Satisfaction

Consumer Satisfaction

We received a mail from Steve, a post grad business student in Sydney, Australia. He questions,

I have been studying marketing this semester and have been allotted an essay on Consumer Satisfaction and Feedback. Through my research on the Internet, I failed to get a simplistic explanation to the issue. Could you please reply back, with your take on the concept?

We answered,

Well, Steve, Consumer Satisfaction is one of the most under-rated marketing practices in the industry today. The Online Market place is evolving into understanding the essentiality of this practice lately though. One of Webalue.com’s KPIs for determining BrandScores is Consumer Feedback. Consumer Feedbacks on Webalue.com indicate insights into consumer loyalty and word-of-mouth activities among a brand’s end-users. Asking your consumers if they would recommend your website (brand) to others can provide valuable insights about how your current business (brand) will develop in the upcoming period (Reichheld, 2003).

Consumer Satisfaction, basically depends on your product’s (or service’s) perceived performance in delivering value relative to your buyer’s expectations. If your product’s performance fails to reach or abide the customer’s expectations, the buyer can be expected to be dissatisfied which could result into negative word-of-mouth and negative reviews could reach potential consumers. On the flip side, if the performance of your product exceeds the customer’s expectations, the buyer would be delighted, resulting in positive word-of-mouths and recommendations. If the product performance only matches the expectations of the customer, the buyers would just be satisfied and may or may not recommend your brand to potential consumers.

Satisfied consumers of your products and services have tendencies to make repeat purchases too, apart from sharing their good experiences about your brand. If your Consumer satisfaction rate is low, a smart way to increase their satisfaction is to only promise things you can surely deliver. Delivering, anything more than that should result into positive image and a delighted buyer.

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Note: If you have a Branding or a Marketing related query for us. Please feel free to ask the question by sending us a mail at info [a t] webalue.com. We would try to answer your query within 48 hours.

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