Final answer:
According to an American Express study, it is true that 7 out of 10 consumers spent more with companies that deliver excellent customer service. Superior service is a factor that can significantly influence consumer spending and loyalty towards a company.
Step-by-step explanation:
True or false? According to a study done by American Express, 7 out of 10 consumers indicate they've spent more money with a company because it delivers great service. This statement is True. Various studies over the years, including those by American Express, have consistently shown a majority of consumers are willing to spend more with companies they feel provide superior customer service.
In today's competitive market, customer service has become a critical aspect for businesses. Offering better service not only satisfies customers but also often leads to a willingness to spend more, as mentioned in the American Express survey result. Moreover, providing quality service fosters customer loyalty and can be a key differentiator from competitors.
From the shared text snippets, the importance of service can also resonate in the context of consumer choices and reliability of service providers, such as mentioned with AT&T and other phone service providers in Chapter 12. It is clear that the level of service can have significant implications for consumer spending habits and overall satisfaction with a product or provider.