5CUSTOMER EXPERIENCE Flashcards
What is customer experience (CX)?
The sum of all the interactions a consumer has with a brand as well as their opinion of the brand.
How does customer experience impact brand equity?
CX drives brand equity by influencing consumer attitudes about positive brand attributes and favorable consequences of brand use.
What are the key consumer shifts in fashion?
From a supply-driven to a demand-driven value chain, end of ownership, growing sustainability awareness, impatience, and radical transparency.
What are the new elements of customer experience in fashion?
Omnichannel fashion and new customer journeys.
What is a key aspect of reinventing fashion marketing?
Utilizing omnichannel strategies and adapting to new customer journeys.
What interactions contribute to customer experience?
Visiting the website/store, using a mobile app, speaking to staff, reading marketing emails, and social media interactions.
What does it mean that customer experience is holistic?
It considers the impact of all interactions and feelings together, not just a single interaction.
What does Net Promoter Score (NPS) measure?
Customer loyalty.
What is the NPS survey question?
“How likely is it that you would recommend [Organization X/Product Y/Service Z] to a friend or colleague?” (Rating 0-10).
What does Customer Satisfaction Score (CSAT) measure?
Customer satisfaction with a brand’s products or services.
What is the CSAT survey question?
“How would you rate your overall satisfaction with the [goods/service] you received?” (Rating 1-5).
What does Customer Effort Score (CES) measure?
How effortlessly customers can interact with a brand.
What is the CES survey question?
“How easy was it to deal with our company today?” (Options: easy, neither, difficult).
What does customer sentiment measure?
How people feel about your business (positive, negative, or neutral).
How is customer sentiment typically measured?
Through customer surveys, reviews, social media, and call transcripts using AI and natural language processing.
What does customer emotional intensity measure?
The intensity of customers’ feelings about their experiences with your brand.
How is customer emotional intensity calculated?
On a 1 to 5 scale denoting effort, categorized into low (1), medium (2-3), and high (4-5) intensity.
What are some other key customer experience metrics?
Retention loyalty, purchase loyalty, quality measures (disappointing, meeting, exceeding expectations).
How has fashion consumption evolved in the 20th and 21st centuries?
From Haute Couture runway to fast-fashion stores (20th century) and from fast-fashion brands to influencer-driven ultra-fast fashion (21st century).
What challenge does the proliferation of fashion offerings pose?
Exponential growth in SKUs with improved quality and decreasing prices versus limited retail space, customer buying time, disposable income, and attention.
What are some significant consumer shifts affecting fashion?
End of ownership, growing sustainability awareness, impatience, and radical transparency.
How are consumers empowered in the digital age?
They have access to more information, social networks, digital devices, and are involved in product and service development.
What are prosumers?
Consumers who are collaborative users rather than owners, engaged in sharing economy and fashion rentals, and are savvy, demanding, and price/quality-sensitive.
What is the traditional conversion funnel in fashion retail?
A linear process pushing the product towards the customer.
How has the customer journey in fashion evolved?
From a linear funnel to a circular cycle where consumers engage in awareness, evaluation, selection, transaction, and sharing.
How does technology impact the traditional customer journey?
By providing new touchpoints and enhancing engagement across different stages of the journey.
What is omnichannel fashion?
The integration and management of all channels and touchpoints to provide a seamless customer experience.
What is multi-channel retailing?
Combining offline and online channels for consistent pricing and cross-selling.
What are the dimensions of omnichannel integration?
Integrated promotion, product and price, transaction information, information access, order fulfillment, and customer service.
What are the new trends in fashion retailing?
Concentration and internationalization, new types of retailers, growth in services retailing, pricing pressures, and customer-focused innovation.
How are fashion brands leveraging influencers?
By collaborating with influencers and measuring success through social media metrics like followers, posts, likes, and engagement.
What is market segmentation?
Dividing customers into smaller groups based on characteristics like age, income, personality traits, or behavior to optimize marketing strategies.
What are some strategic choices in retail for enhancing customer experience?
Market segmentation, collaborations with influencers, social media marketing, and adapting to omnichannel strategies.
