Is Costumer satisfaction and costumer value interdependent or mutually exclusive? Can satisfaction occur simultaneously with low value?
Costumer satisfaction as defined in our MKTG textbook "is the customer's evaluation of a good or service in terms of whether that good or service has met their needs and expectations." While customer value is "the relationship between benefits and the sacrifice necessary to obtain them." So based off that I believe that these two are interdependent. If a product or service doesn't generate high enough value than the customer's satisfaction will most likely fall too. An example of this could be how the way music has been played over the past 50 years. Once record players were what people needed to buy to play music. There was high customer value and it led to high satisfaction. Then over the years new technologies have made playing music easier and more compact. CD players took over and the sacrifice to have a record player was greater than the benefits so costumer value went down. In the 21st century the Ipod was released and the value for that was high. With that came the lowering of satisfaction of the CD player and all its problems were not enough to save it. Soon something better than the Ipod will come out and the pattern will repeat.
What do you think about costumer satisfaction and value? What ways do you think costumer satisfaction can happen with low costumer value?.
