Customer satisfaction
Customer satisfaction (often abbreviated as CSAT, more correctly CSat) is a term frequently used in marketing. It is a measure of how products and services supplied by a company meet or surpass customer expectation. Customer satisfaction is defined as "the number of customers, or percentage of total customers, whose reported experience with a firm, its products, or its services (ratings) exceeds specified satisfaction goals."The Marketing Accountability Standards Board (MASB) endorses the definitions, purposes, and constructs of classes of measures that appear in Marketing Metrics as part of its ongoing Common Language in Marketing Project. In a survey of nearly 200 senior marketing managers, 71 percent responded that they found a customer satisfaction metric very useful in managing and monitoring their businesses.It is seen as a key performance indicator within business and is often part of a Balanced Scorecard.
Harry Gordon Selfridge
Harry Gordon Selfridge, Sr. (11 January 1858 – 8 May 1947) was an American-British retail magnate who founded the London-based department store Selfridges. His 20-year leadership of Selfridges led to his becoming one of the most respected and wealthy retail magnates in the United Kingdom. He was known as the 'Earl of Oxford Street'.Born in Ripon, Wisconsin, Selfridge delivered newspapers and left school at 14 when he found work at a bank in Jackson, Michigan.
John Wanamaker
John Wanamaker (July 11, 1838 – December 12, 1922) was an American merchant and religious, civic and political figure, considered by some to be a proponent of advertising and a "pioneer in marketing". He was born in Philadelphia, Pennsylvania, and served as U.S. Postmaster General.
Marshall Field
Marshall Field (August 18, 1834 – January 16, 1906) was an American entrepreneur and the founder of Marshall Field and Company, the Chicago-based department stores. His business was renowned for its then-exceptional level of quality and customer service. Field is also known for some of his philanthropic donations, providing funding for the Field Museum of Natural History and donating land for the campus of the University of Chicago.
Caveat emptor
Caveat emptor (UK: , US: ) is Latin for "Let the buyer beware"
(from caveat, "may he beware", a subjunctive form of cavēre, "to beware" + ēmptor, "buyer"). Generally, caveat emptor is the contract law principle that controls the sale of real property after the date of closing, but may also apply to sales of other goods. The phrase caveat emptor and its use as a disclaimer of warranties arise from the fact that buyers typically have less information about the good or service they are purchasing, while the seller has more information. The quality of this situation is known as 'information asymmetry'.
César Ritz
César Ritz (23 February 1850 – 24 October 1918) was a Swiss hotelier and founder of several hotels, most famously the Hôtel Ritz in Paris and the Ritz and Carlton Hotels in London (the forerunners of the modern Ritz-Carlton Hotel Company). He was known as "king of hoteliers, and hotelier to kings," and it is from his name and that of his hotels that the term ritzy derives.
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