Customer satisfaction

Definition

Customer satisfaction measures how products or services provided by a company meet or surpass a customer's expectations. It is crucial for businesses as it helps in retaining customers and encouraging repeat purchases.

Related terms

Marketing Concept:

A business philosophy that emphasizes understanding and meeting the needs and wants of customers through all aspects of a company’s operations.

Customer Loyalty:

The result of consistently positive emotional experiences, physical attribute-based satisfaction, and perceived value of an experience, which includes the product or services.

Product Quality: Refers to the characteristics and features of a product that determine its ability to satisfy stated or implied customer needs