Service Trumps Product as Customers' Top Priority, CMO Survey Finds

Elisabeth A. Sullivan
Marketing News Weekly
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Key Takeaways
  • ​​The CMO Survey, a poll of top U.S. marketers conducted by Duke University in partnership with the AMA, was released in February and included insights from nearly 300 marketers.
  • Twenty-three percent of respondents cited excellent service as their customers’ top priority in 2015, compared with 22% who pointed to superior product quality, 21% who chose trusting relationships and 15% who indicated that low prices would win out. 
  • Marketers' 2015 budgets are projected to increase by 8.7%, the highest growth rate in three years, according to the survey.

     

Customers in 2015 appear to be more concerned about the quality of the service that they receive from vendors and retailers than the quality or price of the product, according to the latest findings from The CMO Survey, a twice-annual poll of top U.S. marketers conducted by Duke University in partnership with the AMA. The latest survey, released in February, included insights from nearly 300 marketers, 84% of whom hold titles of vice president or higher.

Twenty-three percent of respondents cited excellent service as their customers’ top priority in 2015, compared with 22% who pointed to superior product quality, 21% who chose trusting relationships and 15% who indicated that low prices would win out. Superior innovation was chosen by just 14%, yet it made considerable gains over February 2014 results, when just 9% of respondents indicated that customers would consider innovation a top priority. The brand came in last among customer priorities, with only 5% of marketers saying that it’s a primary concern.


These findings could give an indication of how marketers plan to spend their 2015 budgets, which are projected to increase by 8.7%, the highest growth rate in three years, according to the survey.

 

For the full findings from The CMO Survey, visit CMOsurvey.org. And to hear from survey founder Christine Moorman, check out her upcoming blog post, available on March 2, at Blog.AMA.org.​

 


Author Bio:

Elisabeth A. Sullivan
Elisabeth A. Sullivan is the editor in chief of Marketing News and director of publishing for the AMA's magazines and e-newsletters. Contact her at esullivan@ama.org.
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