We emphasize that theories about customers and products are very practical but most companies fail to formalize them.  They have various ideas about who their Customer’s are and why they buy or don't buy a product or service.  But, these ideas often lack context and ignore the interrelationships that would provide an understanding of process (such as the steps involved in purchasing from the consumer's point-of-view). 

This is where a theory can help. 

Markinetics developed a fairly simple theory of customer satisfaction for a well known restaurant chain.  Developing the theory began by considering all of the reasons why one would be satisfied or dissatisfied.  Then, the

way these reasons could possibly influence each other was considered and the links among the variables were made explicit. Then we tested the theoryNext, we identified the actionable areas to focus on.  While the perception of speed of service is the most important driver of satisfaction, we also found that reducing wait time (an action) impacts the perception of speed of service which in turn impacts satisfaction.  We also found that improvement on certain variables such as cleanliness is a waste of time with respect to increasing satisfaction.  Our theory of satisfaction provided a framework for both action and the allocation of resources.

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