Introduction To The Study
A customer is a person who demands the products or services offered by the marketer or supplier. Whereas the term consumer refers to the end user of the product or service. They may or may not be the customer.
- Satisfaction is a person’s feeling of pleasure or disappointment resulting from comparing a product’s perceived performance (or outcome) with the performance he expects of it.
- Complete customer satisfaction is achieved by understanding customer requirements and delivering superior quality goods and services.
Defining customer value and satisfaction. Over 38 years ago, Peter Drucker observed that a company’s first task is “To create customers” However, customers face a vast array of products and brand choices, prices and suppliers. How do they make their choices? We believe that our customers estimate which offer will deliver the most value. Customer value maximizes within the bounds of rich costs and limited knowledge, whether or not the offer lives up to value expectation affects both satisfaction and repurchase probability.
Customer perceived value
Our premise is that customers will buy from the firm that they see as offering the highest perceived value (CPV) is the difference between the prospective customer’s evaluation of all the benefits and all the costs of an offering & the perceived alternatives. Total customer value is the perceived monetary value of the bundle of economic functional and psychological benefits customers expect from a given market offering.
Total customer cost is the bundle of costs customers expect to incur in evaluating, obtaining, using and disposing of the given market offering.
Total Customer Satisfaction:
Whether the buyer is satisfied after the purchase depends on the offer’s performance in relation to the buyer’s expectation. In general, satisfaction is a person feeling of pleasure or disappointment resulting from compiling products’ perceived Performance (or outcome) in relation to his or her expectations. If the performance falls short of expectations, performance matches the expectation, the customer is satisfied. If the performance exceeds expectations the customer is highly satisfied or delighted.
The link between customer satisfaction and customer loyalty is not proportional. Suppose customer satisfaction is rated on a scale from one to five at a very low level of customer satisfaction (that is at level one), customers are likely to abandon the company and even bad mouth it. At levels two to four, customers are fairly satisfied but still find it easy to switch when a better offer comes along. At level five, the customer is very likely to repurchase and even spread the good word or delight creators an emotional bond with the brand or company not just a rational preference.
Title – A Project Report On Customer Satisfaction At Ananta Granites/strong>
Author – N/A
College – N/A
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