The natural concept of chains is that they are as strong as their links. Hence to make a chain strong, the links must be made strong. The service-profit chain is based on this concept. A theory evolved by a group of researchers from Harvard University in the nineties, it dissects the levers that translate good service into profitability. These levers are represented by links in an eight-link chain as depicted below. The service Profit Chain The service-profit chain works this […]
Monthly Archives: March 2018
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One question you need to ask your customers
When you deliver the right service at the right price, at the right time, and to the agreed-upon specifications, it does not lead to customer loyalty. This is because you’ve only made the customer satisfied and mere satisfaction does not lead to loyalty. In fact, independent studies confirm that customers who are merely satisfied are still very likely to purchase from another source. However, that is not to say that there is no correlation between customer satisfaction and loyalty. There […]
