2i Customer needs and expectations

Question 1

What are customer needs?

Answer 1

Customer needs are the essential requirements that customers intend to fulfil with the purchase of a good or service from a business.

Question 2

What are customer expectations?

Answer 2

Customer expectations are the values or benefits that customers seek when purchasing a good or service from a business.

Question 3

What is customer retention?

Answer 3

Customer retention is the ability of a business to keep its customers over time and is a measure of customer loyalty. (use of loyalty cards)

Question 4

real world example?

Answer 4

The Iconic is an Australian online fashion retailer. Since its launch in 2011, The Iconic has consistently exceeded customer needs and kept up with changing customer expectations. According to The Iconic’s Chief Operating Officer, Anna Lee, customers of The Iconic have consistently rated their customer service interactions with scores of over 90%. The Iconic aims to resolve customer problems as quickly as possible, with a dedicated customer service team of 100 staff who manage queries through phone, online chat, social media and email channels. In addition, The Iconic offers customers free 30 day returns for purchased goods and a range of delivery options to increase customer convenience, such as same day delivery and express delivery