Abstract
The world is becoming increasingly more global, interconnected, and, by population, significantly larger. An increase in worldwide population of billions of people in the last decades means more potential customers for small, medium, and large companies in the dynamic international marketplace. More customers also mean more diversity in what companies can and should do to achieve an optimal level of customer satisfaction. But it is important to connect all the dots in the international business ecosystem, via strategic linkages and robust scientific customer-experience metrics, for a company to develop and deliver on customer satisfaction.
Portions of this chapter are based on two of the authors’ earlier articles: Morgeson III, Forrest V., Tomas Hult, and Pratyush Nidhi Sharma (2015). “Cross-National Differences in Consumer Satisfaction: Mobile Services in Emerging and Developed Markets.” Journal of International Marketing, 23(2), 1–24; Morgeson III, Forrest V., Sunil Mithas, Timothy L. Keiningham, and Lerzan Aksoy (2011). “An Investigation of the Cross-National Determinants of Customer Satisfaction.” Journal of the Academy of Marketing Science, 39(2), 198–215.
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Notes
- 1.
Schwab, Klaus. “Globalization 4.0—What Does It Mean?” World Economic Forum, November 5, 2018, https://www.weforum.org/agenda/2018/11/globalization-4-what-does-it-mean-how-it-will-benefit-everyone
- 2.
The international business ecosystem is defined as the organisms of the business world—including stakeholders, organizations, and countries—involved in exchanges, production, business functions, and cross-border trade through both marketplace competition and cooperation—Hult, G. Tomas M., Maria Alejandra Gonzalez-Perez and Katarina Lagerström (2020). “The Theoretical Evolution and Use of the Uppsala Model of Internationalization in the International Business Ecosystem.” Journal of International Business Studies, 51(1).
- 3.
Silverblatt, Howard (2019). S&P 5002018: Global Sales. Accessed online at: https://us.spindices.com/indexology/djia-and-sp-500/sp-500-global-sales
- 4.
For good analyses of these companies’ challenges in internationalizing in certain markets, see: Sang-Hun, Choe. “Wal-Mart Selling Stores and Leaving South Korea,” New York Times, May 23, 2006. Accessed online at: https://www.nytimes.com/2006/05/23/business/worldbusiness/walmart-selling-stores-and-leaving-south-korea.html; Bhasin, Kim. “Why IKEA Took China By Storm, While Home Depot Failed Miserably,” Business Insider, September 14, 2012. Accessed online at: https://www.businessinsider.com/ikea-home-depot-china-failed-2012-9
- 5.
Palacio, Xabier. “ESOMAR’s Latest Global Market Research Report Values Global Research and Data Industry Market at US $80 billion,” ResearchWorld.com. Accessed online at: https://www.researchworld.com/esomars-latest-global-market-research-report-values-global-research-and-data-industry-market-at-us-80-billion/
- 6.
Brooke, Zach. “3 Common Pitfalls of International Market Research (and How to Avoid Them),” American Marketing Association, October 1, 2017. Accessed online at: https://www.ama.org/marketing-news/3-common-pitfalls-of-international-market-research-and-how-to-avoid-them/
- 7.
For this and other information on Big Data, see: Baesens, Bart (2014). Analytics in a Big Data World, Wiley and SAS Business Series.
- 8.
For more information on these national indexes of satisfaction based on the ACSI model, visit the ACSI website at: https://www.theacsi.org/products-and-services/international/global-csi
References and Further Reading
Baesens, Bart (2014). Analytics in a Big Data World. Wiley and SAS Business Series.
Bhasin, K. (2012, September 14). Why IKEA Took China By Storm, While Home Depot Failed Miserably. Business Insider. Retrieved from https://www.businessinsider.com/ikea-home-depot-china-failed-2012-9
Brooke, Z. (2017, October 1). 3 Common Pitfalls of International Market Research (and How to Avoid Them). American Marketing Association. Retrieved from https://www.ama.org/marketing-news/3-common-pitfalls-of-international-market-research-and-how-to-avoid-them/
Friedman, T. (2005). The World is Flat: A Brief History of the Twenty-first Century. New York, NY: Farrar, Straus and Giroux.
Hollister, D., Tadgerson, R., Closs, D. J., & Hult, G. T. M. (2016). Second Shift: The Inside Story of the Keep GM Movement. New York: McGraw Hill Professional.
Hult, G. T. M., Closs, D. J., & Frayer, D. (2014). Global Supply Chain Management: Leveraging Processes, Measurements, and Tools for Strategic Corporate Advantage. New York: McGraw-Hill Professional.
Morgeson, F. V., III, Hult, T., & Sharma, P. N. (2015). Cross-National Differences in Consumer Satisfaction: Mobile Services in Emerging and Developed Markets. Journal of International Marketing, 23(2), 1–24.
Morgeson, F. V., III, Mithas, S., Keiningham, T. L., & Aksoy, L. (2011). An Investigation of the Cross-National Determinants of Customer Satisfaction. Journal of the Academy of Marketing Science, 39(2), 198–215.
Palacio, X. ESOMAR’s Latest Global Market Research Report Values Global Research and Data Industry Market at US $80 billion. ResearchWorld.com. Retrieved from https://www.researchworld.com/esomars-latest-global-market-research-report-values-global-research-and-data-industry-market-at-us-80-billion/
Rosling, H. (2018). Factfulness: Ten Reasons We’re Wrong About the World—And Why Things Are Better Thank We Think. New York: Flatiron Books.
Sang-Hun, C. (2006, May 23). Wal-Mart Selling Stores and Leaving South Korea. New York Times. Retrieved from https://www.nytimes.com/2006/05/23/business/worldbusiness/walmart-selling-stores-and-leaving-south-korea.html
Silverblatt, H. (2019). S&P 500 2018: Global Sales. Retrieved from https://us.spindices.com/indexology/djia-and-sp-500/sp-500-global-sales
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Fornell, C., Morgeson, F.V., Hult, G.T.M., VanAmburg, D. (2020). Your Future: Opportunities for Customer Centricity and Satisfaction. In: The Reign of the Customer. Palgrave Macmillan, Cham. https://doi.org/10.1007/978-3-030-13562-1_9
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