MKT 310 Chapter Notes - Chapter 1: Customer Satisfaction, Relationship Marketing, Netflix
6 Sep 2016
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It is not about tricking consumers and make them spend money. Customer satisfaction: if consumers are happy and likely to return. Relationship marketing: getting information from customers to give a better service after. Economic loyalty: have a card to give you points and rewards. If customers are satisfied they are more likely to come back. How much effort are you willing to spend to acquire a customer of satisfy and unsatisfied customer. Future purchases they will make net present value of future purchases. Why marketers should use more experiments than surveys. People they don"t know why they behave certain way. Companies allocate a percentage of their sales to the marketing research department. Lacks rationality, it is not based on size pf the department. It is base don how uncertain we are and the consequences based on it. Depending on the target market you are targeting. It is base don the precision that you want your answer to be.
