Which of the Following Is True for Customer Satisfaction

question 131

Multiple Choice

Which of the following is true for customer satisfaction?

• A) Satisfaction is a deeply held commitment to rebuy or repatronize a preferred product despite situational influences.
• B) Consumers often form more favorable perceptions of a product with a brand that is new.
• C) The ultimate goal of a customer-centered firm is to create high customer satisfaction.
• D) Only increased customer satisfaction can help a company increase its profits.
• E) Greater customer satisfaction has also been linked to higher returns and lower risk in the stock market.

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Definitions:

Expected Utility

The expected value of an individual’s total utility given uncertainty about future outcomes.

Repairs

Activities or processes aimed at restoring a damaged, broken, or malfunctioning object to its original or operating condition.

Risk-Averse

Risk-averse describes individuals or entities that prefer to avoid risk and would rather choose a certain outcome over a gamble with potentially higher, but uncertain, rewards.

Expected Value

The anticipated value for an investment or probability-weighted average of all possible values in a probabilistic scenario.