- 1 A Study On Customer Satisfaction In Big Bazaar
- 1.0.1 Defining Customer Satisfaction:
- 1.0.2 Customer satisfaction in a company can be defined as:
- 1.0.3 Measuring Customer Satisfaction
- 1.0.4 Delighted Customers Are Profitable:
- 1.0.5 Measuring Customer Satisfaction
- 1.0.6 Using satisfaction Surveys to achieve a Competitive advantage Consider these statistics:
- 1.0.7 Satisfaction (and dissatisfaction) affects your organization’s bottom line
- 1.1 PREVIEW
A Study On Customer Satisfaction In Big Bazaar
Defining Customer Satisfaction:
It is a measurement or indicator of the degree to which customers or users of an organization‟s products or services are pleased with those products or services.
Customer satisfaction in a company can be defined as:
- The company’s ability to fulfill the business, emotional, and psychological needs of its customers;
- Quality of service delivery expected by the
- An internal drive to satisfy an unsatisfied need of
- Providing good service in a pleasant manner and meeting the customer’s expectations;
- The measure of the degree to which a product or service meets the customer’s expectations;
- Comparison of expectations versus actual
Measuring Customer Satisfaction
Most companies say that they believe in great customer service, but few set up a system to ensure that they provide it. To deliver excellent customer service takes both understanding what your customers want and the way to see that they receive it.
Delighted Customers Are Profitable:
It is widely accepted that it is almost five times more profitable to sell to an existing customer than to find a new customer. More important, the difference between satisfied customers and very satisfied customers can make a big difference in customer repeat business and the profits. Measuring client satisfaction is very important and distinguishing between degrees of satisfaction by using customer surveys is crucial.
Measuring Customer Satisfaction
There are several ways to gather input from customers. The simplest way to find out how customers feel and what they want is to ask them. If you have only 20 customers, you can talk to each one personally. The advantage of this approach is that you’ll get a personal “feel” for each customer.
The disadvantage is that you’ll gather different information from each customer depending on how the conversation goes.
Customer surveys with a standardized survey question ensure that you will collect the same information from everyone. Remember that few of your customers will be interested in “filling out a questionnaire”. It’s work for them without much reward. By launching a customer survey as an attempt to find out “how we can serve you better” — your customers will feel less put upon.
Here are a few of the possible dimensions that one could measure:
- Quality of product
- Offers and discounts
- Staff‟s behavior
- Complaints or problems
- Billing experience
- Security‟s behavior
- Store‟s ambiance & cleanliness
- Overall experience in store
Using satisfaction Surveys to achieve a Competitive advantage Consider these statistics:
- Only 4% of all customers with problems complain
- The average person with a problem eventually tells 9 other people
- Satisfied patients and customers tell 5 other people about their good treatment
- Cost of acquiring a new customer is usually 5-7 times greater than retaining current ones
- Cost of hiring and training a new employee is up to 10 times greater than retaining current
These facts underscore the need to satisfy your current customers so they remain with your organization. Ensuring their satisfaction is vital to your long-term business survival and profitability. The technology available to both you and your competitors have made it easier to duplicate each other‟s products or services.
Because of this, it is increasingly difficult to rely on features alone to differentiate yourself from the competition. Excellent customer satisfaction is one of the few ways to achieve a sustainable competitive advantage.
The value of satisfaction is often underestimated. Loyal customers affect an organization‟s success, which can be difficult to quantify. Loyal customers grow your business by increasing market share. Over a lifetime, a loyal customer purchases more, purchases at a premium (they are less sensitive to price), costs less to sell to and refers your business to others.
Title – A Study On Customer Satisfaction In Big Bazaar
Author – B.Narendra Rahul
College – Easwari Engineering College