1. Unit 22

2.  The difference between the price at which a business buys a product and the price that it sells it for can be very large. This presents a business opportunity.  What can the unit price be reduced to if bought in bulk? What if there is no need for a shop, why not use a warehouse and sell directly to the customer over the Internet?

3.  Understand the meaning of the term “customer Satisfaction”  Explain how effective customer satisfaction includes fulfilling customer orders accurately and on time and dealing with complaints  Recognise the importance of customer satisfaction in the success of a business.  Appreciate the importance of repeat purchases for a business.

4.  Customer Service – the experience a customer gets when dealing with a business and the extent to which the experience meets or exceeds the expectations.  Customer satisfaction – a measure of how much the products meet the customer expectations.  Repeat Purchase – also called repeat business, the likelihood of buying from the same company/business again.

5.  The experience the customer has in dealing with a business is called Customer Service If that experience is good then the customer will use the business again.  Getting customer and hanging on to them is an important issue for many businesses.  Customer service covers many areas; the way a customer is treated; the quality of the products; the knowledge of the staff; after sales service; etc

6.  All Write Round Robin.  What are all the things that can make up good customer service? Online and in a shop?  Thinking time 30 seconds  List as many things that make good customer service.  ALL write them down in a list adding to the ones that you have in your list.

7. In a business plan the customer service points may be listed.  Convenient to the customer either on line or in a shop,  Website design must be good,  Website accessibility – 24/7,  Orders dispatched quickly,  Orders must be 100% accurate, also sometimes required by Law  Complaints need to be dealt with immediatly

8.  Customer Satisfaction must be at the core of every business if it is to be successful.  Dissatisfied customers may not buy again from the business & may talk about what has gone wrong with other potential customers.  The reputation of the company may be at stake!  If customers are satisfied they will ‘spread the word’, word of mouth can be a very good way of promoting the business.

9.  Many businesses rely on repeat business or repeat purchases.  This is when buy time and time again from the same firm, Shoppers may use the same supermarket each week or same travel agent when going on holiday.  There are a number of ways to keep customers coming back:- ◦ Cheaper prices, ◦ Effective deliveries ◦ Loyalty cards ◦ Promotions

12.  Chapter 22 Homework