6 Benchmarking customersatisfaction for best practice
The customer is always right
Harry Gordon Selfridge (1857–1947)
If you mean to profit, learn to please
Charles Churchill (1731–1764)
6.1.1 Customer retention – a key to profitability
Customer retention is normally the direct result of a high level of customer satisfaction. In theory, if customer needs are satisfied, there is no reason for his/her loyalty to change unless the product/service offered is becoming obsolete or poor in value. Slowly but surely, managers involved in service industries or aspects of customer service are beginning to learn that ‘service’ is a word that matters and not just a useful modifier to distinguish their activity from manufacturing.