1. New businesses are frequently launched as a means to smooth over dissatisfact

Question

1. New businesses are frequently launched as a means to smooth over dissatisfaction with a current glitch in the industry. Pick some industry and solve its customer dissatisfaction problem(s). For example, if you find flying annoying, or you're not happy with your dentist, what changes could you make to enter that industry and enhance customer satisfaction (and be profitable)?

b. Go online and find the average length of a "lifetime" for purchases in the categories of: houses, cars, gym memberships, baby diapers, birth control pills.

Explanation / Answer

Answer:- A lot of issues can be identified related to the dissatisfied customers particularly in the banking industry. In order to improve the customer satisfaction level in this industry, the below mentioned steps can be adopted:-

The level of satisfaction can be improved among the customers if the bank focuses more on providing better services and employs courteous, decent, well-mannered employees who know how to serve a customer. Most of the banks are still struggling in having the right mix of customer service.

Answer;- average length of a "lifetime" for purchases is given as below:-

Houses:-13 years as per National association of home builders

Cars:- 5 years

gym memberships:- 3 years

baby diapers;- 2 years

birth control pills:- 1 year

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