Marketing Achieving Firm Satisfaction Targets Discussion
Question Description
I’m working on a marketing multi-part question and need an explanation and answer to help me learn.
Of the two types of customer expectations, adequate performance expectations fluctuate the most.
Part 1: Describe a situation that would cause adequate expectations to increase, thereby narrowing the width of the zone of tolerance.
A situation that could lead to an increase in adequate performance expectations and the narrowing of the zone of tolerance is a significant industry-wide innovation or improvement. For instance, consider a scenario in which a new technology is introduced in the smartphone market, resulting in smartphones with faster processing speeds, longer battery life, and more advanced features becoming the new industry standard. Customers, who were previously satisfied with smartphones offering standard performance, may now expect these advanced features as the norm. This shift in industry standards can elevate adequate expectations.
Part 2: What might a firm do in this situation to achieve its satisfaction targets?
To achieve its satisfaction targets in such a situation, a firm must adapt to the new performance expectations and industry standards. Strategies may include:
Part 3: Support your post with scholarly RESEARCH on product performance expectations.
To support your post with scholarly research, you can cite academic studies or articles that discuss how customer expectations are influenced by changes in industry standards and technological advancements. Look for research related to the concept of the “zone of tolerance” and how it shifts in response to changing market dynamics. Academic databases like Google Scholar, JSTOR, or research journals in marketing and consumer behavior are excellent sources for such studies. Citing and referencing these sources will add credibility to your response.