Claes Fornell is an expert on customer satisfaction analytics and capital asset management.

Background

Born in

Sweden Sweden, formally the Kingdom of Sweden,The United Nations Group of Experts on Geographical Names states that the country's formal name is the Kingdom of SwedenUNGEGN World Geographical Names, Sweden./ref> is a Nordic country located on ...

in 1947, Claes Fornell received a Doctorate of Economics in 1976 from

Lund University , motto = Ad utrumque , mottoeng = Prepared for both , established = , type = Public research university , budget = SEK 9 billion Stephen M. Ross School of Business The Stephen M. Ross School of Business, also known as Michigan Ross, is the business school of the University of Michigan, a public research university in Ann Arbor, Michigan. Founded in 1924, the school is ranked among the best business schools i ...

University of Michigan , mottoeng = "Arts, Knowledge, Truth" , former_names = Catholepistemiad, or University of Michigania (1817–1821) , budget = $10.3 billion (2021) , endowment = $17 billion (2021)As o ...

. Professor Fornell has also been on the faculty of Duke University, Northwestern University, the Stockholm School of Economics and INSEAD. In 2009, at the 100-year anniversary of the Stockholm School of Economics, Fornell was awarded an Honorary Doctorate of Economics. He also holds honorary professorships from

Renmin University The Renmin University of China (RUC; ) is a national key public research university in Beijing, China. The university is affiliated to the Ministry of Education, and co-funded by the Ministry and the Beijing Municipal People's Government. RUC ...

(2005) and Tianjin University (2007).

Research and writing

Fornell's research centers on the development and 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 The American Customer Satisfaction Index (ACSI) is an economic indicator that measures the satisfaction of consumers across the U.S. economy. It is produced by the American Customer Satisfaction Index (ACSI LLC) based in Ann Arbor, Michigan. The AC ...

(ACSI) – 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,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. along with a variety of company-level financial performance metri

and tracks customer satisfaction for more than 400 companies. ACSI scores are predictive of return on investment, net cash flow, and stock returns.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.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.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.Anderson, E.W., C. Fornell & S.K. Mazvancheryl (2004). "Customer Satisfaction and Shareholder Value." ''Journal of Marketing'', Vol. 68, October, 172-185. The ACSI technology, for which Fornell was awarded a US patent (US 8,666,515 B2) in 2014, has been used in many countries in addition to the United States, including Australia, China, Finland, France, Germany, Great Britain, India, Italy, the Netherlands, Singapore, South Africa, South Korea, Spain, Sweden, Switzerland, the United Arab Emirates (Dubai), and others. Claes Fornell is the lead author of several articles linking customer satisfaction to stock returns, demonstrating that portfolios of firms with high ACSI scores consistently outperform the market.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. He has also written several books. Among them are ''Consumer Input for Marketing Decisions'' (Praeger, 1976), ''A Second Generation of Multivariate Analysis'' (Praeger, 1980), ''The Satisfied Customer: Winners and Losers in the Battle for Buyer Preference'' (Palgrave Macmillan, 2007), and ''The Reign of the Customer: Customer-Centric Approaches for Improving Satisfaction'' (Springer 2020). According to the "International Journal of Research in Marketing,"Roberts, J., U. Kayande, and S. Stremersch (2013) "From Academic Research to Marketing Practice: Exploring the Marketing Science Value Chain," ''International Journal of Research in Marketing'', In Press.

Business

Claes Fornell is the founder and chairman of CFI Group, an international consulting firm specializing in assisting companies with measuring and optimizing customer satisfaction for improved consumer utility and company financial return. He is also the founder of American Customer Satisfaction ETF (Ticker: ACSI) that invests in public companies with strong customer satisfaction, and Detroit Vineyards, a winery with a pedigree dated to 1702 when Antoine de la Mothe Cadillac established the first vineyard in Detroit.

References

External links

* * {{DEFAULTSORT:Fornell, Claes American businesspeople Ross School of Business faculty Lund University alumni University of California, Berkeley alumni Duke University faculty Northwestern University faculty Living people Year of birth missing (living people) Place of birth missing (living people)