Which statement best defines customer satisfaction as defined in the text?

Question $9$ options:

It refers to any formula used to calculate the cost of acquiring a new customer or replacing a current one.

It refers to a five$-$step process for creating contingency or backup plans to better serve customers when problems arise or things do not go as expected.

It refers to the process of a customer switching between products or companies, often simply to get a better price, contract, rebate, or warranty.

It refers to a term that is used to describe how well an organization is doing in providing products and services that meet or exceed a customer's needs and expectations.