July 23, 2009

Who Wants Low Prices Or Good Customer Service?

Examining Four Segments Of Consumers Across 12 Industries

by Bruce D. Temkin

with William Chu, Angela Beckers

Executive Summary (This is a document excerpt)

In previous research, Forrester found that US consumers looked for good customer service more often than lower prices. To understand this dynamic in more detail, we created four segments of consumers: Service Seekers, Price Seekers, Price & Service Seekers, and Others. We examined these segments across 12 industries. Some of the findings include: Banks have the most Service Seekers, TV service providers have the most Price Seekers, credit card Service Seekers often have children, insurance Service Seekers tend to be affluent, and both airline and hotel Price Seekers often have college degrees.

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