Customer Satisfaction.pptx

CUSTOMER RESEARCH Name :- xxxxxxxxxxxx MBA Roll No:-

MEANING • It is a measure of how products and services supplied by a •

company meet or surpass the customer’s expectations. Customer expectation is the needs, wants, and preconceived ideas of a customer about a product or a service.

• If customer expectations are met then the customer is satisfied.

WHO ARE CUSTOMERS • Internal Customer :

are people, departments, units and groups within an organization served by what we do.

• External Customer :

are end users of the organization's product or services depositors, borrowers, investors, etc.

Why customer satisfaction • Customer is the boss of the market. • Customer dictates market trends and direction. • The organization is dependent on the customer and not the other way round.

• Customer satisfaction means loyalty towards the organization. • The satisfied customers will help in bringing the new customers by the “word of mouth”.

Factors affecting customer satisfaction • PRICE - Micromax • QUALITY - Rolls royce • SERVICE - Dell • BRAND NAME - Apple • REPUTATION - Nokia • FEATURES - Samsung

LEVELS OF CUSTOMER SATISFACTION 1. Basic Needs (Dissatisfiers) • A service that the costumer takes for granted. He expects it to be present in the product.

• Absence of this need will lead to dissatisfaction for the customer but the presence of it will not lead to any satisfaction as such.

• Performance needs (satisfiers) • It is a need or want of the customer which he specifically asks for.

• Better the performance more will be the satisfaction of the customer.

• These factors becomes the benchmarks in the competitive market.

• Excitement Needs (delighters) • A delighter is an unspoken or unexpected requirement of a customer.

• It leads to very high level of satisfaction or customer delight. • Absence of delighters does not result in customer dissatisfaction while its presence will enhance customer satisfaction.

CUSTOMER SATISFACTION FACTS • 5% increase in loyalty can increase profits by 25% to 85%. • Only 4% of unsatisfied customers will complain. • An unhappy customer tells 9 other people. • A happy customers tells to about 5 other people.

CUSTOMER SATISFACTION PROCESS • Step 1: • Step 2: • Step 3: • Step 4: • Step 5:

Understanding customer expectations Promises to customers Execution Ongoing dialog with a customer Customer satisfaction surveys

CUSTOMER RETENTION • Customer satisfaction should lead to customer loyalty and customer retention.

• This is the real test and bottom line- when the customer repeatedly comes back to you for repeat orders and to purchase new products manufactured by you. (In spite of stiff competition and multiple Suppliers/Sources! )

• Firm orders received or cash payments registered , market share, customer referrals and customer retention are an indication of your customer success and penetration in the market.

CUSTOMER FEEDBACK • Customer feedback must be continually done and monitored.

It enables an organization to:

• Discover customer’s dissatisfaction • Discover relative priorities of quality • Identify customer need • Determine opportunities for improvement

How to ensure customer satisfaction • Surveys • Customer feedback • Comparison with alternatives • Employee feedback • Internet/blogs • Toll free numbers

Quality and Customer Expectations • Quality is defined as excellence in the product or service that fulfills or exceeds the expectations of the customer. • There are 9 dimensions of quality that may be found in products that produce customer satisfaction. • Though quality is an abstract perception, it has a quantitative measure Q= (P / E ) , where Q=quality, P= performance(as measured by the manufacturer.), and E = expectations( of the customer).

9 Dimensions Of Quality