External Relationships
Introduction An organization is concerned with maintaining a healthy relationship with suppliers and customer, with whom they interact daily. However, for an organization to be successful, it has to maintain healthy and fruitful relation with all the stakeholders. These stakeholders may or may not be directly involved in the market. But they impact how business […]
Porters Five Forces Analysis of Samsung
Introduction Porter’s Five Forces methodology is used in this article to analyze the business strategies of white goods makers like Samsung. This tool is a handy method to assess how each of the market drivers impact the companies like Samsung and then based on the analysis, suitable business strategies can be devised. Further, companies like […]
Importance of Relationship Marketing
The recent trend seen in the Organizations across the world is that they are faced with changing times and the changing economies and business is forcing them to change themselves too. Organizations today have no option but to change and evolve. The change has to do with every aspect of business and not limited to […]
CSR and Corporate Governance: Two Sides of the Same Coin
In previous articles, we discussed how effective corporate governance is essential for a well functioning economy and how the practice of good corporate governance is the lubricant that greases the machine of the corporate world. We had also discussed how the practice of corporate social responsibility or CSR is a step in the direction of […]
Marketing Strategies for the Age of Consumer Fragmentation and the Age of Digital
The Fragmentation of the Consumer Segments and the Rise of Hyper Personalization We live in the Age of Fragmentation where consumer markets are so niche and granular that conventional marketing strategies are ineffective. Everywhere we look around us, we find that consumer markets are no longer monoliths or can be classified into broad Demographic, Regional, […]
Customer satisfaction is the overall impression of customer about the supplier and the products and services delivered by the supplier. Following are the important factors that could affect customer satisfaction:
The above factors could be widely classified under two categories i.e. suppliers behavior and performance of product and services. The supplier’s behavior mostly depends on the behavior of its senior subordinates, managers and internal employees.
All the functional activities like customer response, direct product and maintenance services, complaint management etc. are the factors that rely on how skillful and trained the internal and human resources of the supplier are.
The second category is regarding all the products and services. This depends on the capability of supplier to how to nurture the products and service efficiently and how skilled the employees are.
It’s all about how the skills are implemented to demonstrate engineering, re-engineering and technological aspects of the products and services.
The quality and efficaciousness of the products is also an important factor that enables compatible and hassle free functions and operations. This bears to lower maintenance and higher life of the product which is highly admired by the customers.
If the product is having some problem or compatibility issues and requires frequent maintenance and support than the customers could get irritated and possibilities of sudden divert is there which lead to supplier’s financial loss. In the same way if the product is expecting huge amount of financial and manual resources then customers could get a feeling of dissatisfaction and worry. However, if these aspects are handled efficiently by giving class services and dealing with complaints effectively then dissatisfied customers could be converted into long time satisfied customers and retaining them becomes easy.
It is practically impossible for the supplier to provide all the above explained features. There are always some positive as well as negative features in products and services which could lead to delight or irritate customers.
The final opinion is the sum of overall experiences which a customer percept. But it is also true that more the positive aspects, the more the customer is satisfied. Hence the aim of the supplier should be always to enhance these positive feelings among all the customers to increase customer satisfaction.
The supplier must identify how to enhance these positive aspects to maximum level by analyzing the customer’s data and information using CRM system. The individual liking and disliking of customers differ from customer to customer. It is hence required to target a customer and identify individual requirement to make them satisfied.
Having discussed the above factors that affect customer satisfaction we can say that higher the satisfaction level, higher is the sentimental attachment of customers with the specific brand of product and also with the supplier. This helps in making a strong and healthy customer-supplier bonding. This bonding forces the customer to be tied up with that particular supplier and chances of defection are very less.
Hence customer satisfaction is very important panorama that every supplier should focus on to establish a renounced position in the global market and enhance business and profit.
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