How CSAT can be improved with AI/ML

In the context of AI and ML solutions, let's rephrase and modernize the traditional concepts of customer satisfaction, including the 3 Major Areas and 5 Ps:


**1. Enhanced Customer Satisfaction Dimensions:**

   

   Within the realm of customer satisfaction, three vital dimensions are identified: 


   - **Perceived Quality:** This dimension centers on the customer's assessment of a product or service's excellence.


   - **Perceived Value:** It delves into how customers gauge the cost-effectiveness and benefits of their purchases.


   - **Perceived Service:** This aspect measures the degree of satisfaction customers experience during their interactions with company representatives and customer support teams.


**2. Modern Customer Satisfaction Factors:**


   Customer satisfaction is influenced by five pivotal factors, often referred to as the "Five Ps":


   - **Product:** This encompasses the tangible offerings, encompassing features, design, quality, brand reputation, and packaging, all of which can be fine-tuned using AI and ML insights.


   - **Price:** The perceived value during a purchase, which AI and ML can optimize by analyzing market data and customer behavior.


   - **Place:** Pertains to the distribution and accessibility of products or services. AI can optimize supply chains and distribution networks.


   - **Promotion:** Involves various marketing efforts, including advertising and public relations, which AI can tailor to target audiences effectively.


   - **People:** Refers to the customer experience and interactions with company representatives, where AI-driven chatbots and virtual assistants can play a significant role.


Incorporating AI and ML solutions into these dimensions and factors of customer satisfaction enables companies to gain deeper insights, enhance product quality, optimize pricing strategies, improve service interactions, and refine marketing efforts, ultimately leading to higher levels of customer satisfaction and loyalty.

-------------

 The traditional 3 major areas and 5Ps of Customer satisfaction were :

What are the 3 Major Areas of Customer Satisfaction?

The three major areas of customer satisfaction are perceived quality, perceived value, and perceived service. Here's a closer look:


Perceived Quality: Refers to the customer's opinion of the quality of a product or service.

Perceived Value: How customers feel about the cost-benefit of purchasing an item or service.

Perceived Service: The satisfaction level that customers feel about their interactions with company representatives and customer service teams.

What are the 5 Ps of Customer Satisfaction?

The 5 Ps of customer satisfaction are product, price, place, promotion, and people.


Product is the tangible good or service a company offers, and it encompasses features, design, quality, brand, and packaging.

Price refers to the value customers perceive when they purchase an item and how competitive it is compared to other offerings in the market.

Place relates to how products get distributed and accessed by consumers.

Promotion includes any marketing efforts by the company, including advertising, public relations, and sales promotions.

People refer to customer experience and interactions with customer service representatives.


Ref https://www.medallia.com/experience-101/glossary/customer-satisfaction/

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