A customer is any organization or individual with which you have done business over the past twelve months. Customer means the party to which the goods are to be supplied or service rendered by the supplier provide a definition for the customer upon two approaches: with reference to loyalty, a customer is a person that assesses the quality of the offered products and services and on process-oriented approach, the customer is the person or group that receives the work output.
By Vavra, T.G., consumer satisfaction is a satisfactory post-purchase experience with a product or service given an existing purchase expectation.
According to Westbrook and Reilly:
“The buyer’s cognitive state of being adequately or inadequately rewarded for the sacrifices he has undergone. Thus the satisfaction levels are a function of the difference between the perceived performance and expectation.
A customer has one of the three broad levels of satisfaction as follows: If performance fails short of expectations customer is dissatisfied If performance matches expectations customer is satisfied If performance is more significant than expectations customer is highly satisfied pleased or delighted.
To be successful, organizations must look into the needs and wants of their customers. That is why many researchers and academicians have continuously emphasized the importance of customer satisfaction, loyalty, and retention. Customer satisfaction is important because many researches have shown that customer satisfaction positively affects an organization’s profitability. Due to this, the consequences of customer satisfaction and dissatisfaction must be considered. There is also a positive connection between customer satisfaction, loyalty, and retention.
Factors Affecting Customer Satisfaction:
Customer satisfaction is the ultimate and final opinion of the customer about the vendor and its product. It is shaped by the vendor’s performance or the perception of customers about vendor performance on the following factors: Capability – financial, technological, project management, managerial Engineering, and technology.
- Vendor’s ability to meet commitments
- Customer service
- Complaint handling
- Product – efficiency, quality, price, performance
- Appearance and customer-friendly features Life cycle
- Smooth and trouble-free operation and Maintenance requirements
Title -A Project Report On Customer Satisfaction Towards “Paytm Mobile Wallet” In Svu, Tirupati
Author – V. Vignesh kumar
College – Sri Venkateswara University Tirupati
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