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american customer satisfaction index(ACSI?

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  1. 1. About ACSI • The American Customer Satisfaction Index was started in the United States in 1994 by researchers at the University of Michigan in conjunction with the American Society for Quality in Milwaukee, Wisconsin, and CFI Group in Ann Arbor, Michigan. • The ACSI model was derived from a model originally implemented in 1989 in Sweden called the Swedish Customer Satisfaction Barometer (SCSB). Claes Fornell, Chair of ACSI LLC and CFI Group, developed the model and methodology for both the Swedish and American versions. • Hailed as the "Father of Customer Satisfaction," Claes Fornell is without question one of the most influential scholars in marketing science today. His name can be found on 3 of the top 15 most academically cited papers from the leading sources in the field— Journal of Marketing, Journal of Marketing Research, Marketing Science, and Management Science.
  2. 2. ACSI Model The American Customer Satisfaction Index (ACSI) is an independent national benchmark of customer satisfaction with the quality of products and services available to household consumers in the United States. Each year, roughly 70,000 customers are surveyed about the products and services they use the most. The survey data serve as inputs to an econometric model that benchmarks customer satisfaction with more than 230 companies in 43 industries and 10 economic sectors, as well as over 100 services, programs, and websites of federal government agencies.l
  3. 3. CONT…. The American Customer Satisfaction Index (ACSI) is an economic indicator based on modeling of customer evaluations of the quality of goods and services purchased in the United States and produced by both domestic and foreign firms with substantial U.S. market shares  The ACSI’s time-tested, scientific model provides key insights across the entire customer experience.  The ACSI’s benchmark results are strongly related to a number of essential indicators  Micro level- companies that display high levels of customer satisfaction tend to have higher earnings and stock returns relative to competitors  Macro level-customer satisfaction has been shown to be predictive of both consumer spending and gross domestic product growth.
  4. 4. ACSI Structure The American Customer Satisfaction Index (ACSI) collects survey data at the individual customer level to provide insights across the entire customer experience . The national customer satisfaction benchmark—  national ACSI score—is an aggregation of all sectors and industries measured by the ACSI.  more than 230 major companies that provide goods and services to U.S. consumers.  Specifically, the national ACSI benchmark represents the average of all sector scores, weighted by each sector’s contribution to the U.S. gross domestic product (GDP).  The national ACSI benchmark is updated each quarter and serves as an indicator of the health of the U.S. economy.
  5. 5. ACSI Methodology Customer Complaint Perceived Quality Perceived Value Customer Expectations Customer Satisfaction Customer Loyalty
  6. 6. Economic Indicator The American Customer Satisfaction Index is an important indicator of the nation’s economic performance, both for individual firms and for the economy at large.  Customer satisfaction is a leading indicator of company financial performance.  Stocks of companies with high ACSI scores tend to do better than stocks of companies with low scores.  Economic growth is dependent on producing not only more, but also better, products and services.  Manufactured goods tend to score higher for customer satisfaction than do services  Mergers and acquisitions have a generally negative effect on customer satisfaction, particularly among service industries.
  7. 7. Industrial scores Internet service provider 65 Subscribe T.S 68 Internet Socila media 68 Airlines 69 Helth Insurance 72 Internet Retail 82 Food manufaturing 83 Automobile 83 soft drink 84 T.V player/ Recorder 85 0 10 20 30 40 Series 1 50 60 70 80 90 100
  8. 8. Automobile score score Dodge (Chrysler) 79 Chevrolet (GM) 79 Jeep (Chrysler) Mazda 80 82 Honda 86 Toyota (Toyota) 86 Subaru 86 Lexus (Toyota) Mercedes-Benz (Daimler) 87 88
  9. 9. ACSI Household Appliance and Electronics Report 2013 • Personal computers ACSI scores
  10. 10. Household Appliance ACSI Scores