MANAGEMENT

Detailed explanation-1: -Why is customer satisfaction important? Satisfaction is important because it means your customer base likes what you are doing. Research shows that customer satisfaction leads to greater customer retention, higher lifetime value and a stronger brand reputation.

Detailed explanation-2: -Customer satisfaction is important because it illustrates whether your customer base likes what you’re doing. Research shows that high satisfaction leads to greater customer retention, higher lifetime value, and a stronger brand reputation. Low customer satisfaction scores are important, too.

Detailed explanation-3: -In simple words, customer satisfaction is a measurement that determines how well a company’s products or services meet customer expectations. It’s one of the most important indicators of purchase intentions and customer loyalty. As such, it helps predict business growth and revenue.

Detailed explanation-4: -One reason most companies hope customers give repeat business is satisfaction with the product. Reasons customers may be satisfied with a product include the overall quality, superior design and specialty characteristics like being gluten-free or having a low carbon footprint.

Detailed explanation-5: -Repeat sales are an example of brand loyalty. If a customer is happy with a particular brand of shampoo, for example, they may purchase the same product-or another related product of the same brand-when it’s time to replace it.