Claes Fornell

Claes Fornell is an expert on customer satisfaction measurement and asset measurement.[1]

Contents

Background

Born and raised in Sweden, Fornell received a Doctorate of Economics in 1976 from the University of Lund, Sweden. He also holds an honorary professorship from Tianjin University.[1]

Fornell was previously on the faculty at Duke University (1977-1978) and Northwestern University (1978-1980). He came to Ann Arbor, Michigan in 1980 to take a position at the University of Michigan, where he was appointed the Donald C. Cook professorship in 1988. He has also been a visiting professor at INSEAD (France), the Helsinki School of Economics (Finland), and the Stockholm School of Economics (Sweden).

Research and writing

Fornell's research centers on the application of advanced quantitative methods for understanding how to obtain high financial returns and lower risk at the same time. It was the convergence of these interests that led Fornell, in 1994, to found the American Customer Satisfaction Index – a monthly economic indicator of the quality of economic output, as experienced by the users of that output. ACSI is a predictor of consumer spending and economic growth at the macro level,[2] and tracks about 235 individual companies. Individual and company ACSI scores are predictive of company return on investment, net cash flow, and stock returns.[3][4][5][6]

Fornell is the lead author of several articles linking customer satisfaction to stock returns, demonstrating that a portfolio of firms with high ACSI scores consistently outperform the market.[3][4][5][7] Fornell has also written several books. Among them are Consumer Input for Marketing Decisions (Praeger, 1976) and A Second Generation of Multivariate Analysis (Praeger, 1980). His most recent book, The Satisfied Customer: Winners and Losers in the Battle for Buyer Preference (Palgrave Macmillan, 2007), draws on findings from the ACSI as well as his experiences helping companies manage their customer relationships.

References

  1. ^ a b "Professor Claes Fornell Awarded Honorary Professor of Tianjin University". Tianjin University. 2002-02-02. Archived from the original on 2008-06-13. http://web.archive.org/web/20080613102512/http://www.tju.edu.cn/english/news/news.jsp?infoid=12445. 
  2. ^ Fornell, C., R.T. Rust and M.G. Dekimpe (2010). "The Effect of Customer Satisfaction on Consumer Spending Growth," Journal of Marketing Research, 47(1), 28-35.
  3. ^ a b Fornell, C., S. Mithas, F.V. Morgeson III, and M.S. Krishnan (2006). "Customer Satisfaction and Stock Prices: High Returns, Low Risk," Journal of Marketing, 70(1), 3−14.
  4. ^ a b Fornell, C., S. Mithas, and F.V. Morgeson III (2009). "The Economic and Statistical Significance of Stock Returns on Customer Satisfaction," Marketing Science, 28(5), 820-825.
  5. ^ a b Fornell, C., S. Mithas, F.V. Morgeson III (2009). "The Statistical Significance of Portfolio Returns," International Journal of Research in Marketing, 26(2), 162-163.
  6. ^ Anderson, E.W., C. Fornell & S.K. Mazvancheryl (2004). "Customer Satisfaction and Shareholder Value." Journal of Marketing, Vol. 68, October, 172-185.
  7. ^ Morgan, N.A. & L. Rego (2006). "The Value of Different Customer Satisfaction and Loyalty Metrics in Predicting Business Performance." Marketing Science, Vol. 25(5), 425-439.

External links