Talk about the value of customer trust in a company. Cite instances of brands or businesses you trust and those you don't based on the firms you patronize. Describe what makes you feel trustworthy or suspicious. What transpires when customer confidence is eroded, and how can a business effectively recover from that loss?
Talk about the value of customer trust in a company. Cite instances of brands or businesses you trust and those you don't based on the firms you patronize. Describe what makes you feel trustworthy or suspicious. What transpires when customer confidence is eroded, and how can a business effectively recover from that loss?
Principles Of Marketing
17th Edition
ISBN:9780134492513
Author:Kotler, Philip, Armstrong, Gary (gary M.)
Publisher:Kotler, Philip, Armstrong, Gary (gary M.)
Chapter1: Marketing: Creating Customer Value And Engagement
Section: Chapter Questions
Problem 1.1DQ
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Talk about the value of customer trust in a company. Cite instances of brands or businesses you trust and those you don't based on the firms you patronize. Describe what makes you feel trustworthy or suspicious. What transpires when customer confidence is eroded, and how can a business effectively recover from that loss?
Expert Solution
Step 1: Introduction
Customer trust is the belief that a corporation is trustworthy, honest, and capable. It is critical for every company that wants to flourish in the long run. Customers who trust a firm are more inclined to purchase its products or services and are also more likely to be repeat customers.
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