Roles and Responsibilities of a Store Manager
Retail Store A fixed set up or location offering merchandise in small quantities to the consumers for their end-use is called a retail store. Store Manager An individual responsible for managing the overall functioning of the store is called a store manager. A store manager takes care of the day to day operations of the […]
Business to Business Marketing Mix
Organization A sells office files, notepads, and all sorts of office stationery to organization B, C and D. Organization A does not deal with Peter — an end-user who would like to buy two pencils for his son Tom. Business to business marketing refers to the transaction of goods and services between businesses. Marketing mix […]
8 Stages of Product Development Process
Companies first find the target market than segment and then customers. After these companies go about developing products, which may be product modification or it may be a completely new product. Product offerings are increasing every year as consumers are looking for more and more variety of products. Companies which are unable to churn out […]
Book Building Process – How Are Prices of Shares Decided in an IPO ?
Companies all over the world use either fixed pricing or book building as a mechanism to price their shares. Over the period of time, the fixed price mechanism has become obsolete and book building has become the de-facto mechanism used in pricing shares while conducting an initial public offer (IPO). In this article, we will […]
Managing Integrated Marketing Communications
Companies need to develop strategies to improve brand image and brand awareness. The important aspect of spreading brand awareness and brand image is through communication. Companies need to establish a communication channel to win the new customers and retain existing customer. This communication is not restricted just to customer but also stakeholders in the value […]
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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