A latest book written by the Heaths- Chip and Dan- titled The Power of Moments: Why Certain Moments have Extraordinary Impact,the writers speak about defining moments in business that characterize relationships. They start off by pondering loudly whether companies would be better advised to chase those customers who have provided very poor feedback in the first place, or those who lie in the middle so can be improved upon. To this extent they quote a marketing research assignment carried out by Forrester, that says that most companies would do better to follow the latter strategy rather than the former. Most positive relationships between customers and service providers arise out of four crucial elements. Those are- elevation, pride, connection and insight. The success of customer experiences to a large extent depends on more of these elements being present. Sometimes one can improvise to cater to more elements as done during the evolution of the MRI system. Southwest Airlines is another example where an unintended error by a flight attendant was picked up as a marketing ploy. The business analytics team suggested that the quip be used to make the trips more fun for travelers and this resulted in an upward swing to the tune of US$ 140 million.

Source:https://www.strategy-business.com/article/Creating-Defining-Moments-for-Your-Customers?gko=d025f

Uploaded Date:19 January 2018