16   Satisfaction, value, trust and fairness in consumer relationships

Learning objectives

At the end of this chapter you should:

•  understand the nature of customer satisfaction and customer value;

•  be aware of the issues associated with measuring and monitoring customer satisfaction;

•  understand the importance of trust and fairness in organisations’ interactions with their customers.

16.1 Introduction

One of the fundamental principles of marketing is that an organisation can enhance its performance by ensuring that it responds to and satisfies customer needs. This simple idea is at the heart of the service–profit chain as outlined in the previous chapter. In the long run businesses that fail to deliver customer satisfaction go out of ...

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