What is Customer Satisfaction ?
February 12, 2025
International Retail Industry’s evolution can be traced to the period around 1990s with the ECR – Efficient Consumer Response initiatives that led to the evolution of new supply chain trends and gave the industry a new dimension. Europe is said to have spearheaded the evolution closely followed by US. The implementation of new supply chain […]
Discounting merchandise to increase sales has always been an important strategy used by the retail sector. However, in the past few years, the number of times that this strategy has been used has increased manifold. This is the reason why the strategy is no longer as effective as it once was. The entire premise of […]
E Commerce is growing day by day in both B2B and B2C context. Retailing industry including Fashion Retail and Grocery retailing have caught on to the bandwagon and have begun to offer E trading or Online Shopping. In the early 1990s we saw Companies setting up websites with very little understanding of E Commerce and […]
Scheduling directly refers to the patterns of time in which the advertisement is going to run. It helps fixing up the time slots according to the advertiser so that the message to be delivered will reach target audience in a proper way with proper timings. There are basically three models of advertising scheduling as follows: […]
What is Inventory Management? Inventory refers to the goods stocked for future use. Every retail chain has its own warehouse to stock the merchandise to be used when the existing stock replenishes. Inventory management refers to the storage of products to be used at the time of crisis. The retailer keeps a track of the […]
It is necessarily required for an organization to interact and communicate with customers on a regular basis to increase customer loyalty. In these interactions and communications it is required to learn and determine all individual customer needs and respond accordingly.
Following are some important aspects which suppliers should always keep in mind to increase customer loyalty:
It is important for the suppliers to identify the factors which force the customers to get emotionally attached with them and should mould this information accordingly to enhance this emotional relationship.
There can be a range of factors for customers that develops these emotional attachment with suppliers, some of which are discussed below:
In industrial sector, the products provided by suppliers are actually used by customers for production purpose.
Hence unavailability, malfunctioning or low performance of these products could highly affect the profitability in business. By nullifying all these factors and providing high valued service and high end products which are available all the time develops a sense of credibility among the customers. In such case customers develop faith and belief in supplier which obviously increases customer loyalty.
In today’s competitive business marketplace, customer satisfaction is an important performance exponent and basic differentiator of business strategies. However, a satisfied customer may be or may not be loyal but an unsatisfied customer potentially seeks other options and may migrate easily.
Hence it is important for the supplier to identify dissatisfaction factors and develop corrective measures to cope up with.
It is often seen that if these corrective measures are implemented successfully to improve satisfaction then satisfaction level increases to a much higher level as compared to a normal satisfied customer.
A satisfied customer mostly tends to be a loyal customer hence customer satisfaction is an important factor that increases customer loyalty.
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