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Many firms don’t understand the value of satisfied customers or don’t collect their data correctly, write Claes Fornell, Forrest Morgeson and Tomas Hult.

A debate about whether firms with superior customer satisfaction also earn better-than-average stock returns has been persistent in the academic business and marketing literature (Fornell, Mithas, Morgeson, and Krishnan 2006). Proponents of the customer satisfaction-stock market relationship […]