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Jemshah
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Asked: 2023-01-20T15:37:37+00:00 In:

Outline five characteristics that highly satisfied customers exhibit. (10 marks)November 2022

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Outline five characteristics that highly satisfied customers exhibit. (10 marks)November 2022

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    1. Loyalty: Highly satisfied customers are more likely to be loyal to a brand and continue to purchase products and services from the company.
    2. Positive word-of-mouth: Highly satisfied customers are more likely to recommend a brand to their friends, family, and colleagues, providing valuable word-of-mouth marketing.
    3. Low price sensitivity: Highly satisfied customers tend to be less sensitive to price changes and are more willing to pay a premium for a product or service they trust and value.
    4. Forgiveness: Highly satisfied customers are more likely to forgive a company for mistakes or service failures, and are more likely to give the company a second chance.
    5. Positive feedback: Highly satisfied customers tend to provide positive feedback and constructive criticism, helping the company improve its products or services.
    6. High retention rate: Highly satisfied customers tend to stick with the company for a longer period of time, resulting in a higher retention rate.
    7. Repeat purchases: Highly satisfied customers are more likely to make repeat purchases, resulting in more revenue for the company.
    8. Higher profit margin: Highly satisfied customers tend to generate more profit for the company, due to their loyalty and willingness to pay a premium for products or services.
    9. Brand Ambassadors: Highly satisfied customers tend to act as brand ambassadors, promoting the company and its products or services to others.
    10. Low rate of switching: Highly satisfied customers tend to have a low rate of switching to competitors, which helps the company to maintain its market share.
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