Customer Satisfaction and Its Impact on The Future Costs of Selling - Lim, L. G., Tuli, K. R., & Grewal, R. (2020)

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Customer Satisfaction and Its Impact on The Future Costs of Selling - Lim, L. G., Tuli, K. R., & Grewal, R. (2020)

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Themes

Customer satisfaction, future costs, selling, US firm, COS Cost Of Sales, literature review

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Abstract

The article by Lim et al. (2020) provides a combination of empirical along with theoretical research on the existence of a linkage between customer satisfaction and a firm's future selling costs (COS). The study investigates the matters not adequately scrutinized in dealing with customer satisfaction and how they affect the firms' Perception of eye-catching (COS) by weaving together the conditions required to persuade customers and offer them an opportunity for convenience.

Executive Summary
What is the Specific Problem Being Addressed?
What are the Main Findings of the article?
How many themes were identified from the literature
Was the literature review applicable to the study, current, and thorough?
Were there gaps in the literature review?
What was the methodology used?
What is the article's relevance to the field of knowledge?
What are the specific strengths and weaknesses of the article?
Based on the article, what future research needs to be accomplished in this area?
What are your key points and takeaways after analyzing the article?

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Extract

[...] Industry Growth as a strategic marketing approach becomes more apparent as the cautions of customers' preferences in a growing industry get more obvious (Kuncoro & Kusumawati, 2021). Last but not least, we define labor-intensive industry sectors as companies mainly using employees to produce or carry out any services. Word-of-mouth is an essential factor in labor-intensive industries that depend more on customers. Thus, customer satisfaction is more of a determinant of COS. Was the literature review applicable to the study, current, and thorough? [...]

[...] A. D. P., & Kusumawati, N. (2021). a Study of Customer Preference, Customer Perceived Value, Sales Promotion, and Social Media Marketing Towards Purchase Decision of Sleeping Product in Generation Z. Advanced International Journal of Business, Entrepreneurship and SMEs, 3(9), 265-276. [...]

[...] Nonetheless, its tendency to emphasize the big US firms with a consumer approach and potential endogeneity issues could limit the generalizability, hence a call upon future research of its applicability to other industries/contexts. References Lim, L. G., Tuli, K. R., & Grewal, R. (2020). Customer satisfaction and its impact on the future costs of selling. Journal of Marketing, 84(4), 23-44. Ullah, S., Akhtar, P., & Zaefarian, G. (2018). Dealing with endogeneity bias: The generalized method of moments (GMM) for panel data. Industrial Marketing Management, 71, 69-78. Kuncoro, H. [...]

[...] Every industry might come with unique features, which are the gaps that should be addressed. - Cultural and Geographical Variations: The review does not explore the impact of cultural or geographical factors on customer satisfaction and their effect on future COS. - Technological Influence: The influence of new technologies and digital platforms on customer satisfaction, as well as its effect on the COS, is also not considered in this thesis. What was the methodology used? Qualitative, quantitative, mixed? Was the chosen methodology appropriate for the study? Why or why not? [...]

[...] Theme one highlights that customer satisfaction influences an organization's future COS (Cost of Selling). This research has proved that customer satisfaction improves customer loyalty, price sensitivity reduction, and the willingness of customers to pay more. These effects are reflected in a drop in commission amount and a reduction in marketing costs. Additionally, such customers are likely to act as primitive marketers through positive word-of-mouth, which can reduce future advertising and marketing costs. Moreover, satisfied customers possess tolerance for inconvenience, which can translate into a reduction in the money spent to generate convenience. [...]

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