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Copyright Ramón Sala Garrido 2015

Abstract

One of marketers' chief objectives is to achieve customer loyalty, which is a key factor for profitable growth. Therefore, they need to develop a strategy that attracts and maintains customers, giving them adequate motives, both tangible (prices and promotions) and intangible (personalized service and treatment), to satisfy a customer and make him loyal to the company. Finding a way to accurately measure satisfaction and customer loyalty is very important. With regard to typical Relationship Marketing measures, we can consider listening to customers, which can help to achieve a competitive sustainable advantage. Customer satisfaction surveys are essential tools for listening to customers. Short questionnaires have gained considerable acceptance among marketers as a means to achieve a customer satisfaction measure. Our research provides an indication of the benefits of a short questionnaire (one/three questions). We find that the number of questions survey is significantly related to the participation in the survey (Net Promoter Score) or NPS. We also prove that a the three question survey is more likely to have more participants than a traditional survey (Maximum Potential Score or MPS). Our main goal is to analyse one method as a potential predictor of customer loyalty. Using surveys, we attempt to empirically establish the causal factors in determining the satisfaction of customers. This paper describes a maximum potential operating model that captures with a three questions survey, important elements for a successful customer-focused strategy. MPS may give us lower participation rates than NPS but important information that helps to convert unhappy customers or just satisfied customers, into loyal customers.

Details

Title
MAXIMUM POTENTIAL SCORE (MPS): AN OPERATING MODEL FOR A SUCCESSFUL CUSTOMER-FOCUSED STRATEGY
Author
González, José Manuel Cabello; Galguera, Laura; De La Rúa, Francisco Ruiz
Pages
105-115
Publication year
2015
Publication date
2015
Publisher
Ramón Sala Garrido
e-ISSN
1575605X
Source type
Scholarly Journal
Language of publication
English
ProQuest document ID
1788738176
Copyright
Copyright Ramón Sala Garrido 2015