Is There a Relationship between Cost Management and Customer Satisfaction and Business Reputation?

[Suba]

Cost management refers to cost planning and control, while customer satisfaction is public recognition of products and business performance and business reputation refers to public assessment and appreciation of the business/company

A high level of customer satisfaction is often used as an expectation that sales targets will be achieved and vice versa. The level of customer satisfaction will greatly influence or be closely related to business reputation, increasing customer satisfaction will also automatically strengthen the reputation of the business brand, in addition, business reputation is also influenced by several factors such as communication and customer service, product quality and company responsibility. Business reputation is a very valuable intangible asset and needs to be maintained and preserved so that it not only takes time but also requires a lot of money so that cost management is needed. What do you think, agree or not?

 

[Augusta]

Everything you mentioned are all inter related. You would always need one to create the needed satisfaction for the customers. you need to manage your cost and keep business reputation high

 

[eLdavis]

Yes they are related to some extent. While the goal is to create customer satisfaction, we must also ensure to manage your cost of production as well.

 

[Xtynehappy]

Those mentioned three products are very different but they are closely related for sure

 

[Starmix]

Of course there is a relationship. When the customers are not satisfied with the services the reputation of the company or business will be crucial. Rumors will rock around.

 

[Fidelia]

Trying to manage costs too much would affects the quality of products that you offer and the customer are not satisfied with it. That would give the business a negative reputation.

 

[Kross]

In as much as cost has to be minimized, it should not be at the detriment of quality and reputation of the business.

 

[Springtime]

Though customer satisfaction and maintaining a good reputation are essential, keeping track of the operating cost is also essential to ensure the business is making a profit.