Towards a better measure of customer experience

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Information about Towards a better measure of customer experience
Marketing

Published on February 22, 2014

Author: anindyamallick85

Source: slideshare.net

Description

This deck is to summarize my understanding of a paper that I downloaded from WARC

Towards a better measure of customer experience - Philip Klaus & Stan Makla

LOYALTY INTENTIONS H2 H4 CUSTOMER EXPERIENCE H1 CUSTOMER SATISFACTION H5 H3 WORD-OFMOUTH+BEHAVIOUR HYPOTHESES

Experience Quality Scale (ExQ) 1. High value service (e.g. mortgage) 2. Mass service (e.g. fuel) 3. Utility service (e.g. retail banking) 4. Hedonic service (e.g. retailing of luxury lifestyle goods like sports fashion) • ExQ=f(product experience, outcome focus, moments of truth, peace of mind)

Product Experience Importance of customer’s perception of having choices and the ability to compare different things (offerings)

Outcome Focus Reducing customer’s transaction cost such as seeking out and qualifying new providers, reflecting the importance of goal-oriented experiences in consumer behaviour

Moments of Truth Importance of service recovery and flexibility in dealing with customers, once complications arise

Peace of Mind Customer’s assessment of all the interactions with the service provider before, during and after purchase of service

INSIGHTS

Customer’s experience perceptions have a large influence on customer satisfaction for all services • • • • • H1: H2: H3: H4: H5: Cust sat = 0.64 x Cust exp Loyalty = 0.59 x Cust exp WOM = 0.63 x Cust exp Behavioral/Loyalty intention = 0.57 x Cust sat WOM Behavior = 0.46 x Cust sat

Moments of Truth and Peace of Mind have greatest effect on customer satisfaction, loyalty and WOM behavior • Cust sat = 0.37 x Peace of mind • Cust sat = 0.34 x Moment of Truth + 0.32 x WOM • Loyalty Intention = 0.37 x Moment of Truth

SUMMARY

Service Evaluation Customer Experience Loyalty Intention

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