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 are 4 needs and expectations?

Answer 3

1. Customer convenience
2. High quality good or service
3. social responsibility
4. Responsive customer service

Question 4

What is customer retention?

Answer 4

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

Question 5

Is this an example of customer needs and expectations?
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.

Answer 5

Yes