It has become very important to have satisfied customers in these times of intense competition. Every company wants to have as many satisfied customers as possible because companies know the taste of having satisfied customers. As a result, measuring customer satisfaction has become mandatory for companies.
A company would have a satisfied and loyal customer only when the value received by the customer is high enough to make the price, which the customer has paid to purchase the product, negligible. But how to know whether a company has been able to create value for its customers?
A new metric called Customer Gratefulness Index (CGI) measures whether customers is grateful to the company who sold the product or service to them and in turn determines whether value has been delivered and loyalty. It is worthwhile to understand that only when a company has delivered value, a customer would be grateful. Once a customer is truly grateful, he or she has an obligation to fulfill, and they do it by being loyal. Thus, Customer Gratefulness Index (CGI) measures both – the value created by the company for the customer and also loyalty.
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