Rick Wartzman
speaker
65 appearances
1 recordings
1 series
first heard Jun 2022
last heard Jun 2022
Rick Wartzman’s voice in public audio — every appearance, attributed to the second.
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Appearances
WSJ Your Money Briefing · Why Consumers Are Willing to Pay More for Some Brands · 10 Jun 2022
podcast
And what we found is that in some industries, there was a strong positive correlation between two variables.
And that means when net profit margin goes up, customer satisfaction actually goes up.
Oh, pleasure.
Look, all companies want to cultivate in their customer base a kind of brand loyalty.
But companies come at it in different ways.
And what we found in our research is that some industries are better positioned than other industries
to pass along price increases, generally speaking.
It varies, of course, company to company within that industry, but generally speaking, some are relatively well positioned and some have to be warier about passing along price increases.
Yeah.
So what we did in our research is we looked at the correlation.
So kind of a statistical relationship between companies across different industries.
And the correlation was between their net profit margin.
Right.
So how much profit they are earning as a percentage of their total sales and their customer satisfaction.
We measure that.
customer satisfaction as part of our annual company rankings.
And what we found is that in some industries, there was a strong positive correlation between those two variables.
And that means when one goes up, net profit margin goes up, customer satisfaction actually goes up.
What that suggests is that those are industries that by and large are reinvesting some of that profit back into their relationship with customers.
They're innovating, they're providing better service and so on.
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