Tutorial Question:Customer Relationship Management

Tutorial Question:Customer Relationship Management

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Companies that understand customer behavior can formulate strategies for the marketing of their products to influence customer satisfaction. Consumers react differently to product features, prices, place and promotion. Other considerations include the purchaser’s environment and technological features of the product. Consumer satisfaction can be an emotional response based on consumption of the product and previous experience or a response based upon knowledge of the product. When consumers are satisfied with the product, they form a sort of loyalty to the products and will purchase it repeatedly. Since they are satisfied with the product, they recommend it to family and friends thereby initiating a whole new circle of consumers, which benefits the company financially by increasing its customers

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