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MBA Full Project

MBA Full Project

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Published by dinesh8777

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Categories:Topics, Art & Design
Published by: dinesh8777 on Sep 07, 2010
Copyright:Attribution Non-commercial

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03/17/2014

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1
INTRODUCTION
 
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INTRODUCTION
The modern concepts of marketing realized that measuring consumer needs or  behavior was not enough.´ CONSUMER SATISFICATION´ should be the core and then thecorrect perception on which marketing policies of our organization should be built.³Management must think of itself not as producing products but as providing customer creating value satisfaction.´Customer satisfaction has a vital role in sustaining and improving hold on the market.Brief descriptions about the various measures that are needed to improve customer orientationhave also been dealt with.Consider the fact todays customer face a plenitude of products in every category.Customer will be having high and raising expectation of quality and service. In the face of their vast choices, the customer will gravitate to the offering that the best meet their individual needsand expectation. They will buy one of the bases of their perception value.Therefore it is not surprising that today¶s winning companies are those succeed best insatisfying indeed delighting their target customer. They pay extreme attention to quality andservice to meeting and even exceeding customer expectation. They complete vigorously and atthe co-operated smartly with their strategy partners in their supply and distribution chain. They pursue efficiently and yet are responsible and flexible.Customer satisfaction is the outcome felt by buyers who have expectation. Customers aresatisfied when their expectation are met and delighted when their expectations are exceeded.Satisfied customers remain loyal longer, buy more, and are less sensitive and talk favorableabout the company. From this it is clear that the satisfied customer will be less sensitive towardsthe fluctuating price and offensive marketing typically cost more than defensive marketing, because it requires much effort and cost to induce satisfied customers to switch away from their current suppliers. We should also consider the fact that ³the cost of attracting a new customer may be five times the cost of keeping the current customer happy.´ Therefore the companies areintending in developing stronger bones and loyalty with their customers.
DEFINITION OF CUSTOMER SATISFACTION
Customer satisfaction refers to the extent to which customers are happy with the productsand services provided by a business. Customer satisfaction levels can be measured using surveytechniques and questionnaires
 
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DEFINITIONS:
Definition 1:
Customer satisfaction is equivalent to making sure that product and service performance meets customer expectations.
Definition 2:
Customer satisfaction is the perception of the customer that the outcome of a business transaction is equal to or greater than his/her expectation.
Definition 3:
Customer satisfaction occurs when acquisition of products and/or services provides a minimum negative departure from expectations when compared with other acquisitions. Gaining high levels of customer satisfaction is very important to a business becausesatisfaction customers are most likely to be loyal and to make repeat orders and to use a widerange of services offered by a business There are many factors which lead in high levels of customer satisfaction including. Products and services which are customer focused and hence provide high levels of value for money. What is clear about customer satisfaction is thatcustomers are most likely to appreciate the goods and services that they buy if they are made tofeel special. This occurs when they feel that the products and services that they buy have beenspecially produced for them or for people like them.
BENEFITS OF CUSTOMER SATISFACTION
The importance of customer satisfaction and support is increasingly becoming a vital businessissue as organization realize the benefits of Customer Relationship Management (CRM) for  providing effective customer service. Professionals working within customer focused businessor those running call centres or help desks, need to keep informed about the latest customer satisfaction techniques for running a valuable customer service function. From small customer service departments to large call centres, the importance of developing a valued relationshipwith customers using CRM is essential to support customer and long-term business growth.
What Do Customers Want?
Before we begin to create tools to measure the level of satisfaction, it is important to develop aclear understanding of what exactly the customer wants. We need to know what our customersexpect from the products and services we provide.Customer expectations have two types ± 
y
 
Expressed

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