Executives Overestimate Value of Service as Loyalty Driver: PwC Study

Here’s an unexpected result: this PwC study finds executives overestimate the weight that consumers place on good service: 25% of executives list it as a reason for loyalty compared with just 11% of consumers. On the other hand, consumers are more likely than executives to cite bad service as a reason for leaving (37% vs 26%). Executives also underestimate the importance of product and overestimate the impact of price. Much to ponder – including how well responses to surveys like these reflect actual behavior.