SBANC
Small Business Advancement National Center University of Central Arkansas — Conway Arkansas
115H, College of Business - University of Central Arkansas - 201 Donaghey Ave. Conway, AR Issue: 806 - February 25th, 2014
Upcoming Conferences Who: Allied Academies AA
Where: Nashville, TN
What: Spring Int’l Conference When: March 26-28, 2014
SLU
ICSB
Who: Saint Louis University
When: April 5-6, 2014
What: Gateway Entrepreneurship Research Conference
Where: St. Louis, MO
Who: International Council for Small Business
When: June 11-14, 2014 Where: Dublin, Ireland
What: ICSB World Conference
INTE
ICSM
Who: INTE
When: June 25-27, 2014
What: 5th Int’l Conference on New Horizons in Education
Where: Paris, France
Who: International Conference on Services Management
When: December 10-12, 2014
What: Int’l Conference
Where: Macau S.A.R., China
Announcements SBANC
The Small Business Advancement National Center is pleased to announce that we have revamped our website and newsletter. All questions and comments would be greatly appreciated.
GCSAMA
Central Piedmont Community College & the Charlotte Business Journal will host the Global Competitive Summit and Advanced Manufacturing Awards 2014 on March 12, 2014 in Charlotte, NC. RICE Business Plan Competition
RBPC
When: April 10 –12, 2014 Applications Due: February 21, 2014
ICSB
IETC
Case Study Competition & Workshop: The competition is open to any person who is a member of ECSB / ICSB or is attending the ICSB 2014 World Conference. The prize for the competition is €250. Deadline is April 30th, 2014.
The International Educational Technology Conference will be held in Chicago, USA from September 3-5, 2014.
Call for Papers HSGBI
Who: Healthcare Systems and Global Business Issues What: 8
EUMMAS
SBR
ISSBS
th
Int’l Conference
When: June 23-25, 2014 Where: Lincolnshire, England Deadline: May 15, 2014
Who: European Marketing & Management Association
When: June 6-8, 2014
What: 2014 Conference
Deadline: April 1, 2014
Who: Society of Business Research
When: March 20-22, 2014
What: 2014 Int’l Conference
Deadline: March 4, 2014
Who: International School for Social & Business Studies
When: June 25-27, 2014
What: MakeLearn Conference
Deadline: March 15, 2014
Where: Sarajevo, Bosnia
Where: Phoenix, Arizona
Where: Portorož, Slovenia
Tip
Enhancing Customer Satisfaction
Marketers monitor customer satisfaction through various methods of mar-
of the Week
ket research. As part of an ongoing relationship with customers, marketers must continually measure and improve how well they meet customer
“If you work just for money, you’ll never make it, but if you love what you’re doing and you always put the customer first, success will be yours.” - Ray Kroc This information is also a vital
customers. If goods or ser-
step in setting up a system to
vices are worse than ex-
measure customer satisfac-
pected, a company may start
tion. Marketers must carefully
to lose customers. The Amer-
monitor the characteristics of
ican Customer Satisfaction
their product that really matter
Index (ACSI) is a nationwide
to customers. They also must
tool to provide information
remain constantly alert to new
about customer satisfaction
elements that might affect sat-
with product quality. Con-
isfaction.
ducting more than 70,000 tel-
Satisfaction can be measured
ephone interviews a year, it
Understanding
in terms of the gaps between
tracks customer responses to
Customer Needs
what customers expect and
more than 5,000 brands pro-
what the perceive the have
duced by about 225 compa-
received. Such gaps can pro-
nies and 200 federal agen-
Knowledge of what cus-
duce favorable or unfavorable
cies. Some of the firms ASCI
tomers need, want, and
impressions. Goods or ser-
rates are H.J. Heinz, General
expect is a central con-
vices may be better or worse
Mills, Hill’s Pet Nutrition, Ni-
cern of companies fo-
then expected . If the are bet-
ke, and Liz Claiborne. Each
cused on building long-
ter, marketers can use the op-
rating is based on 250 cus-
term relationships.
portunity to create loyal
tomer interviews. Marketers
needs. There are three major steps that are involved in this process: understanding customer needs, obtaining customer feedback, and instituting an ongoing program to ensure customer satisfaction.
“
at the companies profiled can
use such rankings to measure how well they satisfy customer needs. To avoid unfavorable ser-
“Because unhappy customers typically talk about their buying experiences more than happy customers do, the cost of dissatisfaction is high.”
vice gaps, marketers need to keep in touch with the needs of current and po-
or websites addresses in their
answered customer emails,
tential customers. The
advertising. Most firms rely on
creating waves of excitement
must look beyond tradi-
reactive methods of collecting
among Apple users around
tional performance
feedback. Rather than solicit
the world. His successor Tim
measures and explore the
complaints, the might, for ex-
Cook, also answers customer
factors that determine
ample, monitor Usenet, other
emails. Some companies hire
purchasing behavior to
online discussion groups, and
mystery shoppers who visit
formulate customer –
popular blogs to track custom-
or call businesses posing as
based missions, goals,
er comments and attitudes
customers to evaluate the
and performance stand-
about the value received. Mar-
service they receive. Their
ards.
keters at the cable company
unbiased appraisals usually
Comcast reviews postings on
are conducted semiannually
blogs, message boards, and
or quarterly to monitor em-
social networking sites. Dell
ployees, diagnose problem
learned the hard way that ig-
areas in customer service,
noring negative blog posts an-
and measure the impact of
noyed customers and failed to
employee training.
solve the underlying prob-
Because unhappy customers
lems. The company has since
typically talk about their buy-
created its own social media
ing experiences more than
site (Direct2Dell) for the “Dell
happy customers do, the cost
community “ and an idea-
of dissatisfaction is high. One
sharing site at IdeaStorm.com.
instance of poor complaint
The turnaround Dell made to
handling at an upscale fitness
achieve customer service ex-
club, for instance, could cost
cellence is now legendary.
the gym thousands of dollars
Even the late Steve Jobs, Ap-
in lost membership fees. If
ple’s co-founder, occasionally
the membership fee is $1,000,
Obtaining Customer Feedback and Ensuring Satisfaction
The second step in measuring customer satisfaction is to compile feedback from customers regarding present performance. Increasingly, marketers try to improve customers’ access to their companies by including
“
toll-free phone numbers
and the disgruntled customer tells seven people,
“People often have greater loyalty to a company after
the club could lose $7,000.
a conflict has been resolved than if they had never
So it makes sense to try to resolve problems quickly.
complained at all.”
In addition to training employees to resolve complaints, firms can benefit from providing several different ways for customers to make their dissatisfaction known, including prepaid mail questionnaires, telephone help lines, comment cards, and face-toface exit surveys as people leave the premises. Any method that makes it easier to for customers to complain actually benefits the firm. Customer com-
calling, or mailing surveys to customers to gauge their level of satisfaction with the organization’s products or services. Many retailers, such as Burger King, Dunkin’ Donuts, and Hallmark, use their receipts to communicate a customer survey. Customers are directed to a toll-free phone number or website to complete a survey, and respondents receive a code that entitles them to a discount on a future purchase.
plaints offer firms the op-
The Denny’s restaurant chain
portunity to overcome
maintains a special website,
problems and prove their
www.DennysListens.com,
commitment to service.
where customers can leave
People often have greater
feed-back about their recent
Source:
loyalty to a company after
dining experience. Customers
Contemporary Marketing
a conflict has been re-
answer questions about the
solved than if they had
service, including how long
never complained at all.
they waited to be greeted,
Boone & Kurtz
seated, and served. Denny’s
Cengage Learning
Many organizations also use proactive methods to assess customer satisfac-
“
tion, including visiting,
management uses the feedback to improve service standards.
16th Edition
Page 352-353 Copyright 2014
We generate fears while we sit. We over come them by action. Fear is natures way of warning us to get busy. - D r. H e n r y L i n k
Feature Paper
”
SBANC Staff Director Dr. Don B. Bradley III
Development Intern James Vire
EXPLORING THE MARKET ORIENTATION—NEW PRODUCT PERFORMANCE LINKAGE INTHE MANUFACTURING SECTOR: THE ROLE OF ORGANIZATIONAL CAPABILITIES
Development Intern Joshua Tucker
This paper was written by Türkan Dursun , Texas A & M University and Ceyhan Kilic an independent marketing consultant. The paper was presented at the 2013 ACME National Conference .
Comments?
Abstract The high product failure rate has been a major concern for businesses for decades. The increasing level of technological advancement, consumer expectations, and domestic as well as international competitive pressures continue to reduce the product life cycle for new products. In this environment, it has become extremely important for companies to understand the critical drivers of new product success and failure and to be able to develop successful products for markets.
The Small Business Advancement National has recently made immense changes to the layout of its website, SBAER.UCA.EDU, as well as its Newsletter. We welcome constructive criticism, comments, and of course, all questions throughout this transition.
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