Are companies more concerned about what’s right or wrong for the customer or about the profit?
This question is one of the most talked topic in the globe. If one has to rate about the frequency of the discussion done on this topic across various areas such as schools, colleges, case studies, PhD’s, family function, friends etc. This topic can be awarded with the most frequently discussed topic. Every customer has this question running in the back of mind always. If we look at the perspective of the customer, then it seems legit for the customer to think on these terms and have a doubt, since the customer is shedding his or her hard earned money on the product and does expect a decent product which will give returns on the money spent.
If we think with the perspective of the company, every company has one mantra which they follow blindly and that is “That customer is the king of the market”. Since the competition has touched heights and it is increasing not just by minutes, but by seconds. It is extremely important to retain the customers and keep customer satisfaction as the top priority.
To answer the question straight, the company is more concerned about what is wrong and what is right for the customer as they see their long term benefit in this. In the long run, if the company wants to increase it’s profits or maintain a strong name in the industry or to stand out among st others, it does need support of the customers.Profit will directly flow, if the customers are happy. However, if in a case where company is more concerned about the profit and not about customer satisfaction, that company will never be able to earn profit in the long run and will be left behind by the other competitors who will have a strong customer base.