Asking each and every customer is advantageous in as much as the company will know everyone’s feelings, and disadvantageous because the company will have to collect this information from each customer (National Business Research Institute, 2009) Customer satisfaction has been a subject of great interest to organizations and researchers alike. The principal objective of organizations is to maximize profits and to minimize cost. Profit minimization can be achieved through increase in sales with lesser costs. One of the factors that can help to increase ales is customer satisfaction, because satisfaction leads to customer loyalty (Wilson et al.
2008) When a consumer/customer is contented with either the product or services it is termed satisfaction. Satisfaction can also be a person’s feelings of pleasure or disappointment that results from comparing a product’s perceived performance or outcome with their expectations. (Kettle & Keller, 2009) “the simplest way to know how customers feel, and what they want is to ask them” (Levy, 2009) “an organization that consistently satisfies its customers, enjoy higher detention levels and greater profitability due to increase customer loyalty” (Wicks & Retiling, 2009) Unmask J.
ND Bong V. O. (2008) examine the level of customer satisfaction with regard to Bum’s training services. The study investigates the dimensions of service quality that have significant effect on customer satisfaction in Bum’s training services. The study finds that the dimensions of service quality and customer knowledge are positively correlated to customer satisfaction among Bum’s corporate clients. However, only four factors, namely, competence, credibility, accessibility, and tangibles have significant effect on customer satisfaction.
Therefore, the management of IBM should focus efforts on upgrading areas of competence, credibility, accessibility and tangibles in order to continually increase customer satisfaction for continued profitability and success in training business. Mishear J. K. And Gain M. (2007) study various dimensions of customer satisfaction in nationalized and private sector banks. Two-stage factor analysis is computed to arrive at the dimensions of customer satisfaction.
The study analyzes ten factors and five dimensions of customer satisfaction for nationalized and private sector banks respectively. The study concludes that satisfaction of the customers is an invaluTABLE asset for the modern organizations, providing unmatched competitive edge, it helps in building long term relationship as well as brand equity. The best approach to customer retention is to deliver high level of customer satisfaction that result in, strong customer loyalty.
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