The degree to which a product or service meets or exceeds customer expectations and needs. It measures how happy customers are with their experience and likelihood to continue doing business with a company.
The phrase gained prominence in the 1980s during the customer service revolution, though 'satisfaction' comes from Latin 'satisfacere' (to do enough). The concept became central to business strategy as companies shifted from product-focused to customer-focused approaches.
Research shows that fully satisfied customers are 2.6 times more likely to remain loyal than merely satisfied ones, yet many companies don't distinguish between these levels. The gap between 'satisfied' and 'delighted' customers often determines long-term business success.
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