Gaining a competitive advantage through customer satisfaction. (Faculty Corner): An article from: Bank Marketing

This digital document is an article from Bank Marketing, published by Bank Marketing Assn. on December 1, 1992. The length of the article is 1724 words. The page length shown above is based on a typical 300-word page. The article is delivered in HTML format and is available in your Amazon.com Digital Locker immediately after purchase. You can view it with any web browser.

From the supplier: Banks can increase their competitiveness by being customer-driven. Studies show that companies that deliver superior customer satisfaction are the ones that achieve superior profit performance. The importance of customer satisfaction is underscored by the fact that the Malcolm Baldrige National Quality Award considers it as the single most important measure of excellent performance. Customer satisfaction should not be confused with quality of service because the former focuses on delivery systems designed to meet customer demands while the latter refers to systems that conform to some internal set of standards set by the company. Banks that do not pursue superior customer satisfaction stand to have their profits be adversely affected by the costs of lost customers, lost opportunity revenue, customer replacement costs and customer recovery costs.

Citation Details
Title: Gaining a competitive advantage through customer satisfaction. (Faculty Corner)
Author: Rex Bennett
Publication:Bank Marketing (Magazine/Journal)
Date: December 1, 1992
Publisher: Bank Marketing Assn.
Volume: v24 Issue: n12 Page: p24(3)

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