Operations Due Diligence: An M&A Guide for Investors and Business

CUSTOMER SATISFACTION AS A COMPETITIVE DISCRIMINATOR

Customer satisfaction is often the result of the customers’ experience with one particular product, and this experience then establishes the customers’ perception of the entire business. However, the customers’ perception of the product and business is also a result of what they hear about a product rather than their direct experience using it. “I heard that product is expensive” or “My neighbor has one, and it’s always in the shop getting fixed” or “It’s just too hard to learn to use that software.” Of course, interactions with those customers who have had direct experience with a product can be a business’s opportunity to drive customer satisfaction and improve recurring sales. “I bought ...