Customer Satisfaction as a Kind of Nonfinancial Performance Measure
The Effect of Using Customer Satisfaction as an Integral Performance Measure, as evidenced by Chinese Manufacturers
Challenges to manufacturers as well as many other business structures are significant and often carry a great deal of weight in decision making and future business success. Performance measures are also often focused singularly on financial performance, OA, OE i.e. how much revenue the organization has received over time, how much of a certain product was sold and even how much money the organization has saved with regard to improved processes. These financial performance measures are often the core of review with regard to performance and yet there is significant evidence that non-financial performance measures are also an important aspect of doing business, especially in increasingly competitive markets. The manufacturing sector is a sector of business that relies on large sales to small numbers of…… [Read More]
Customer Satisfaction and Bank Loyalty
In today's world the competition has increased so much mainly because of all the globalization taking place around us. As a result of this increase in competition it is very important for all the organizations, including the banking sector, to retain the customers and make sure that they there customer base is increasing instead of decreasing. The most definite way of achieving all this is by making sure that the changes that are brought by the bank are in line with the needs and wants of their customers, for this reason and to gain the competitive edge over other organizations it is very important that the organizations build their customer relationships, bring in product innovations, motivate and train their employees as well as produce the customized products and make the technology better (Titko and Lace, 2010).
However, in case of the Wells Fargo bank it…… [Read More]
Measuring Customer Satisfaction
The modern business environment is flooded with intense competition in most industries and in most markets. In this macro environment it is critical to truly understand the customer. Customers now generally have multiple options for their consumption preferences and can usually find an alternate or substitute product. It is not even the finished good itself that must meet the customer's expectations. Increasingly potential customers are also educated to the business practices of an organization they are planning to do business with in regards to social or environmental performance. Therefore, to truly understand the customer organizations now must actually measure the satisfactions levels of their clients in a systematic and detailed basis. It is no longer sufficient to simply use heuristics or sporadic feedback to gauge performance.
The easiest and most widespread method to collect data about the customer is simply to conduct survey research. This…… [Read More]
Customer Satisfaction Survey
Customer complaints have increased in recent months at the company, a wireless phone carrier called ExpressNet. While customer complaints typically cover a range of consumer concerns, the number of calls reporting problems with reception has increased at rate much greater than for any other issue category. Complaints about reception include call quality, dropped calls, and spotty coverage.
ExpressNet is a wireless phone carrier offering the full spectrum of services: Voice, data, video, and hardware. ecently, ExpressNet has been negotiating for partner relationships with other wireless phone carriers that have broader coverage areas. The company believes these partnerships are an economical and expedient way to address the growing problem of complaints about reception. In the interim, ExpressNet is focused on retaining market share and believes that improved communication with customers during this transition period will ensure that the greatest number of customers stay with the company. In order…… [Read More]
Despite this, however, it did allow for a better understanding of the individuals that came through the restaurant, what their needs were, and whether those needs were met based on the food and the service that they received.
esults and Analysis
Of the numerous individuals who were provided with surveys in the Chili's restaurant in Boerne, Texas over a two-week period, 150 surveys were returned completely filled out. Surveys that were only partially filled out were not counted in the results. Of the 150 surveys that were returned properly, 20 had contact information that the manager could use to gather further information. All 20 of the individuals contacted by phone and/or by email responded to the manager and were willing to discuss problems, concerns, and good things that they had experienced at that particular Chili's location. The questions that were asked on the survey dealt with basics such as age,…… [Read More]
The question of how often the person desires broker contact is relevant, given that the desire for such a personal relationship is an important factor in an individual's selection of financial services online or with a small trading firm. The more someone wants personal contact, very likely, the more he or she is willing to use a real-life broker, specifically a broker at a small firm. But the question of how important the investor thinks it is for a broker to know personal details about family, profession, or hobbies seems potentially irrelevant, rather a specific question about the relevance of family profile and in terms of future financial goals should be included instead.
Are you a user of the services of investing firm x?
How long have you been using investment firm x?
Are you using any other investment firm to manage your assets at present?
What was…… [Read More]
However, there are certain disadvantages that must be taken into consideration regarding the center's program. For example, in certain situations, the center's employees might not be allowed or able to satisfy patients' needs. This affects the program's credibility because the customer perceives this situation as the company not providing the promised services. This also affects the communication process within the program. This leads to lower perceived value.
In addition to this, the objectives that the program intends to reach determine an increase pressure affecting employees' activity. This is because some of these employees might not be sufficiently prepared for the food service program in case. This forces them to increase their efforts in performing their tasks and activities. This situation is likely to determine inefficient communication within the center. For example, employees might feel reluctant to communicating with patients and with their superiors. This leads to conflicts among personnel. In…… [Read More]
Customer Satisfaction Index Suggests More Patience with U.S. Government
Wall Street Journal, December 17, 2001
The American Customer Satisfaction Index is measured quarterly by the University of Michigan Business School in conjunction with the American Society for Quality and the Ann Arbor-based consulting firm, CFI Group. It measures consumer satisfaction with the private sector, however analyses federal agencies once a year. Consumer satisfaction with the IRS this year was up 10.7% from last year. One reason for this is that customers like the electronic filing feature. Scores were higher among those who filed electronically, however, scores were also up among traditional filers as well.
The FAA scored low this year. Consumers in this area were commercial pilots who cited unclear regulations as their reason for dissatisfaction. Even though the consumer satisfaction score was low, it was still up 5.4% from last year.
Americans were more pleased with government services than…… [Read More]
and, as the article points out, this is unfair because the company where the good was purchased is making a profit from the consumer twice, first from the actual transaction, and second by selling and sharing the consumer's identity and buying habits -- with other purveyors.
This article makes some excellent points, but there are some questions as to the broad brushstrokes with which the author paints the argument. First of all, it seems like consumers do get some benefit from marketers knowing their information besides customer complaints being answered, otherwise consumers would never volunteer their information. Consumers do often volunteer their opinions through market research, for fun, or also because in their own personal cost-benefit analysis, they feel that the chance to win a gift card or to get a coupon is worth sacrificing a bit of information to the marketer. Also, consumers benefit from having goods and promotions…… [Read More]
The results of the data analysis are presented below in both tabular, graphic and narrative analyses formats.
Validity refers to the establishment of evidence that the measurement is actually measuring the intended construct. Measures can be reliable without being valid, but cannot be valid without being reliable. To develop a model by which validity issues could be assessed we used the validation model developed by Chandler and Lyon (2001) in which there are several approaches for establishing construct validity, including (a) content validity, (b) the substantive component of construct validity, - the structural component of construct validity, and (d) external validity.
Reliability refers to the consistency and stability of a score from a measurement scale (Chandler and Lyon, 2001). For the purposes of this study, reliability was gauged using the responses from the like categories of the online survey.
Chapter 2: Review of Related Literature
ackground and Overview.…… [Read More]
The Telecoms Industry
In the study by Lai, Griffin and Babin (2009) entitled “How quality, value, image, and satisfaction create loyalty at a Chinese telecom,” the researchers used an integrative model to assess the relationship between multiple variables related to consumers’ experience of telecoms in China. The researchers conducted a survey of 118 Chinese telecommunications customers and found that service quality has a direct impact on value perception. Value and customer satisfaction, moreover, were found to determine the extent to which the customer would be loyal to the firm. Corporate image perceptions were also found to impact customer satisfaction. The researchers were able to conclude that customer satisfaction and service quality do make a substantial difference in determining whether customers will be retained or not.
Kim, Park and Jeong (2004) examined how a Korean telecommunications company focused on retaining customers in their article entitled “The effects of customer satisfaction and…… [Read More]
2 of the respondents were self-employed and 11.2% of respondent were white-collar workers with 1.2% of respondents being blue-collar workers. The following chart shows the factor analysis results with VARIMAX rotation of traveler's perceptions of hotel attributes in the study of Choi and Chu (2000).
Factor Analysis Results with VARIMAX Rotation of Traveler's Perceptions of Hotel Attributes
Source: Choi and Chu (2000)
The following chart shows a 'regression analysis results of hotel factors according to Asian and Western travellers overall satisfaction levels.
Regression Analysis Results of Hotel Factors According to Asian and Western Travelers Overall Satisfaction Levels
Source: Choi and Chu (2000)
2.3.1 Definition of customer loyalty
Kandampully and Suhartanto (2000) define a loyal customer as "a customer who purchases from the same service provider whenever possible, and who continues to recommend or maintain a positive attitude toward the service provider" (p. 346).
2.3.2 Loyalty dimensions
There is…… [Read More]
In addition, there will be a follow-up interview process to capture specific area of low customer satisfaction scores. These scores will be used for process improvement and business process reengineering within the company. One of the most critical aspects of these measures is the need to use them to fundamentally re-architect the company and make it more customer-centric. This is critical for the Zapper to reflect customers' needs and requirements and for the company to have a very solid fidelity and transparency to its customers.
Measuring and Acting on Gaps Between Customer Expectations and Experiences
One of the innate strengths of the SEVQUAL methodology is the ability to quickly assess the differences between expectations and experiences quickly, and in very quantitative terms. These differences across expectations and experiences are measured with a minimum of 32 different variables, which can be highly effective in pinpointing just what areas of public relations,…… [Read More]
Measuring Customer Satisfaction
As markets get smaller, many organizations are rushing to increase customer satisfaction and keep their existing customers rather than dedicating extra resources to go after likely new customers. Measuring customer satisfaction is a fairly new idea to many corporations that have been focused solely on income statements and balance sheets (Cacioppo, n.d.).
Identification of Best Practices
Surveys are a superb foundation for customer testimonials and permit one to benchmark their routine for future assessment. In order to carry out a victorious client satisfaction survey, one that must create one that clients have the time and tendency to reply to, and that looks into the kinds of things that will really help improve performance. The query must be asked to draw out how ones clients see their performance has met their precise desires by way of the good or service. By plainly classifying the company's goal for putting…… [Read More]
satisfaction scores do not seem necessarily low or high and they illustrate many interesting trends. For example, there are many fluctuations that are evident. One example is that it appears that the overall satisfaction with appliances has slowly decreased from a high of 85 in 2000 to a low of 80 in 2008. It would be interesting to investigate the reasons in which appliances received higher ratings in 2000 than in the rest of the years. The appliances rating in 2000 was actually the highest rating of any of the different categories provided. It could be the case that after 2000, companies began to implement cost cutting strategies that reduced the quality of the appliances; or it could also represent a statistical error or a poor quality data set. However, it would be impossible to determine why the decrease occurred without further investigation.
I don't think that companies should ever…… [Read More]
This irritated the client, but the situation was the worst when he took the family on an international trip and found that their seats has been reassigned to the non-Premier areas of the aircraft with less legroom. This also happened on subsequent flights, and the client felt that he was treated like baggage. (Sturm, 2004) It has already been seen that this airline is concerned about their customers, yet the airline succeeded in irritating a customer with what the customer feels is "lack of gratitude." One is sure that what the airline staff did was according to the laws, but the client was unhappy. This is generally the result of not being able to communicate in a manner that makes clients happy. Thus methods of implementation are probably as important as the policies themselves.
Let us now look at another airline from the list. Delta Air Lines chief customer service…… [Read More]
Customer Management Practices at AC Guy Ltd.
For services businesses that deliver highly specialized knowledge and expertise to customers, their ability to set reasonable and realistic expectations and then deliver exceptional experiences is critical to their long-term growth. The essence of customer management in services businesses including each area of the heating, ventilation and air conditioning (HVAC) industry is predicated on this concept of customer management. Concentrating on setting realistic expectations then delivering excellent experiences is the essence of excellence in customer management. Creating expectations and delivering remarkable experiences for customers in service industries gets quickly beyond technical ability to the innate sense of what really matters to customers and addressing those issues clearly, candidly and honestly (Ang, Buttle, 2009). The bottom line is that by continually delivering exceptional customer service experiences based on realistic expectations builds trust and reinforces a reputation of excellence in customer service. Trust is the…… [Read More]
It is possible to find examples of nearly every service business in existence using SEVQUAL or a variation of this methodology to quantify customer service performance. An interesting second development is the correlation found between customer satisfaction, market share and profitability (Anderson, Fornell, Lehmann, 1994). Based on the strength of this association many companies are investing heavily in analytics to evaluate just how effective their customer service strategies are in earning satisfaction in the short-term and trust in the long-term.
Values-based differentiation and advanced methodologies for measuring customer satisfaction are re-ordering the global marketing landscape today. The emphasis on analytics is what many multinational and global marketers are using to unify these strategies, with the core focus being on how to translate their many combined efforts into the role of trusted advisor (Dimitriadis, Kouremenos, Kyrezis, 2011). Trust is the most powerful differentiator there is and is also highly effective…… [Read More]
Domination of the high-profit vending segment.
2. Low-cost distribution system.
3. Revamping of its organization system.
Through consolidation of control over the network of bottlers the low-cost distribution system became a reality. The skills that were vital to management of the bottling end of the business were addressed through plants operations, regional marketing and distribution. Wise (2001) According to the AMR Research Supply Chain Top 25: "The basis of competition for winning companies in today's economy is supply chain superiority." The AMR report further states that Demand-driven supply networks (DDSN) have replaced the traditional push model that worked so well in the 20th century. The customer-centric model is what is termed a "pull-model" that, according to the AMR report does the following:
Embeds product innovation
Manages demand proactively
Utilizes stochastic optimization methods to deal with variability.
The result is: "A nimbler business that leverages intellectual assets and more quickly seizes…… [Read More]
Customer relationship management (CM) is an essential component of organizational management. The purpose of this discussion is to focus on a CM strategy for United Behavioral Health a subsidiary of United Health Care . . United Behavioral Health is dedicated to presenting customers with high quality, cost-effective, managed mental health and substance abuse services to its customers. The investigation suggests that the company's core values have been successfully implemented into the company's CM Strategy. The current CM strategy utilizes technology to allow customers to voice their opinions. Currently the company's website ubhweb.uhc.com provides a page that offers help to members that are experiencing problems. In addition, it provides customers with "coaches" that can help whenever problems arise. The company's customers are currently divided into three different groups; the employer division, the health plan division and the public sector. We found testimonials of customers who were extremely satisfied with the care…… [Read More]
Even customers who are satisfied with something do not always return to that specific business, especially if the business is somewhat out of the way or relatively inconvenient to get to (Jackson, Cunningham, & Cunningham, 1988).
Customer loyalty is generally thought to be achieved when a customer returns to buy something that they have bought before from the same company (Jackson, Cunningham, & Cunningham, 1988). There are many other ways to measure loyalty statistically, but it basically boils down to a customer returning to a business even though there are so many other choices available (Jackson, Cunningham, & Cunningham, 1988).
There are many ways to increase customer loyalty and it is significant to discuss some of them here (Rackham, Honey, Colbert, Fields, Hinson, Morgran, Morris, Sugden, & Tribe, 1971). One of the best ways is to meet or exceed many of the service standards that others in the industry have…… [Read More]
Also, while there are numerous similar products being sold in the market, the Apple products make statements, and this -- combined with the multitude of features and the high quality -- stimulates clients to pay the larger price for the Apple products.
Apple's interest in the consumers and what they have to say is immense and it can be observed in all instances, from the manufacturing of the products to integrate customer opinions, to the interaction with the customers before, during and after the purchase, even to the design of the Apple stores. Unlike any other technology creator and retailer, Apple has opened fashionable and appealing stores, in which customers from all over the world can first hand test the Apple products. The employees in the stores encourage visitors to test the products, introduce them to the features and they encourage the visitors to give their feedback.
At a more…… [Read More]
The 8'X16' units are, for example, both upscale and practical. The interiors are pristine white, with lighted entrances. The units also include air conditioning or heating, according to the demands of the season. There is fluorescent lighting, flushable toilets, non-potable fresh water sinks and skylights. Maximum privacy is ensured by fully enclosed stalls, while soap dispensers and paper towel holders are included. Women's Accommodations include three stalls and one sink, while Men's Accommodations include one stall, three urinals, and one sink.
The 8'X30' Deluxe spares nothing in terms of quality, including sophisticated units of luxury restrooms, shiny black sinks, black urinals, and black toilets, along with other luxury elements such as and AM/FM stereo system, runners, and rugs. Women's Accommodations include five stalls and two sinks, while Men's Accommodations include two stalls, two urinals and two sinks.
Service Recovery and Guarantees
Indy Portable Toilets guarantees customers satisfaction in terms of…… [Read More]
The study will utilize random sampling technique at three different grocery locations. The researcher will administer the study to customers who are shopping at the store. The researcher will ask the customer questions about what influenced their decision to shop at that particular store that day.
Data Collection Method
The primary data collection method for the study will be quantitative. Quantitative study methods are most useful when the data can be transformed into t numerical data point. This study will compare the importance of the factors being examined through a Likert-type survey questionnaire. Study participants will fill out and return the study results immediately to the researcher onsite.
Contribution of Study
This study will contribute to a better understanding of the importance of customer loyalty cards to the decision to shop at a particular grocer. The study will help manager, policy makers, and other researchers better understand how…… [Read More]
There are processes engrained in many healthcare providers that also protect the political balance of power and any change of these processes is seen as a demotion of political clout by senior managers. In many healthcare providers the accounting and finance departments are more concerned with managing their invoices and getting the bills out on time and accurate than ensuring a high level of customer service is delivered (Fishman, 2006). A second major factor in healthcare companies not addressing this issue of automating their systems is that there is the perception of new systems being a threat to the data itself; there is fear that once the date is put into the system it will somehow be lost or compromised. This fear of a lack of control over the data is often driven by information systems departments, who also fear their jobs will be taken over by the new system.…… [Read More]
As has been mentioned in the introduction, the four tactics that comprise this strategy include providing a dedicated and exclusive customer service manager to the largest accounts due to their complex, often urgent, and difficult-to-solve problems and requests; the use of value-added promotions and coupons including added services that by themselves would be only marginally successful yet when bundled with other tactics appears to be working; the utilization of segmentation strategies for isolating the unmet needs of customers and designing loyalty programs for them and developing product line extensions to fulfill those needs; and the development of event-based marketing programs to involve and include customers in the major decisions surrounding the company. Our CEO is a big believer in advisory councils and uses these both for market research and customer retention.
The company excels at execution yet relies on anecdotal and a very imprecise methodology for actually quantifying the impact…… [Read More]
Affecting Customer Loyalty
Customer Grade Course
This research study introduces a comprehensive conceptual framework of customer loyalty within the retail sector. It emphasizes on the perceived loyalty amongst fast moving consumer goods and attempts to explore the moderating effects of the various different factors that might influence them.
The researcher will begin by creating an understanding of the term "customer loyalty" and its significance importance in the retail sector. Additionally, the researcher shall also attempt to explore the purchase decisions made by the consumers and what really prompts them to be loyal to certain brands of product while simultaneously evaluating the importance of price, quality, brand or any other factor that might impact their loyalty status and purchase decision.
Finally, the research study will conclude by delineating the factors which impacts consumer loyalty at the same time trying to establish a means of measuring the impact of consumer…… [Read More]
This creates a strong customer base that can help the company through financially difficult periods and gives the company a leeway in terms of price control and product development. A company that can keep customers also tends to have a higher market share than its competitors. Customer care usually works its way back around and acts as advertising through the company, generally by word of mouth from satisfied customers. The more impressed a customer is with the service and care provided, the more likely they will be to recommend the business and mention its virtues to friends and family, increasing the customer pool through indirect advertising.
To ensure that out clients are assured of their pick and choice, as the Marketing director I recommend that the company gives warranties to all the electronics that ordinarily our competitors would not give. It is noted by the research conducted by…… [Read More]
Tesco, the largest UK company, employs 260,000 people. This corporation has global aspirations and has come a long way in a relatively short period of time" (2003, p. 3).
According to the company's promotional literature, the employment figure for 2003 has almost doubled today, as shown in Table 1 below.
Current Key Figures for Tesco
Staff in the UK
Total stores in the UK
Number of markets
China, Czech Republic, Hungary, India, Japan, Malaysia, Poland, Republic of Ireland, Slovakia, South Korea, Thailand, Turkey, UK, USA
Note: Facts correct October 2010
Source: Tesco Quick Facts 2010
Figure 1. Respective Number of Tesco Retail Formats in the U.K.
Source: Based on tabular data in Tesco Quick Facts 2010
A brief summary of the company's guiding corporate strategy is provided in…… [Read More]
The real estate concept is very different in Great Britain. It consists of a system of bidding and auction. Still this obstacle did not stop Countrywide's management from seeing a wave of change. Many other companies had already seen Great Britain as an entry point into the rest of Europe. These success stories are Safeway, al-Mart and Pizza Hut to name a few. The means to acquiring a ready-made company within Great Britain was the next step. At this point, it was understood that independently opening a Countrywide branch there would be too risky. The strategy was to acquire or create a joint venture with a company that already existed where Countrywide could slowly take over meanwhile slowly introducing that workforce to American mortgage knowledge and skills (Globalhomeloans.com, 2005). The irony in this situation is that Countrywide may have been cocky. After all, the situation is very favorable and almost…… [Read More]
Customers and Self-Service |
Why Customers Don't Want to Talk to You
This article written by Matthew Dixon, Nick Toman and ick Delisi (2013) clarifies why most customers prefer self-service when they are in firms and service/ product providers. As indicated by Atkinson and Cohen (2015) half of associated customers lean toward self-service while tending to post-purchase item issues. 32% like to use self-service along with access to an actual expert support representative. This information is vital for organizations as they get the chance to comprehend that connected customers have a special service demand that is specifically with a longing to make sense of specialized item issues by themselves, without expert, live help. The part of self-service both inside for firms, and remotely for consumer-facing self-service choices has come about as an emerging significance to companies and organizations. This could be highly favorable to firms from both a customer satisfaction…… [Read More]
Customers' uying ehaviour
The success of any for profit business organization is dependent on the customers that avail of their products or services. ut making sure that these customers continuously patronize the offerings of the organization requires detailed knowledge and understanding of customers' buying behaviours. These purchasing attitudes comprise of several aspects and each of this has to be taken into consideration to ensure that customers will continually buying from the organization. Not only are the regular customers should be the focus of the business but new customers as well in order to increase sales thereby providing optimum revenue that provides business continuity and resilience. The factors that influence customers buying behaviours are varied but they are four general categories thereof namely: personal, social, psychological, and cultural (hasin 2010; rown 2008). All four are equally important but one or some are more important than others especially with regards to the…… [Read More]
The purpose of this research is to investigate customer's loyalty throughout the dimensions of satisfaction, trust and commitment for mobile phone industry in Bangkok, Thailand. In addition, this research also provides practical knowledge which customers are dissimilar in satisfaction and look for different levels of relationship with mobile phones. To sum up briefly, it is completely useful for marketers to comprehend which paradigms affect customers to create good relationship with companies in order to sustain the customer's loyalty.
These are research objectives which are needed to be accomplished in order to reach the above research aim which are stated as following:
To study the relationship marketing to the mobile phone industry in Thailand.
To study the customer satisfactions factor to the mobile phone.
To identify the relationship between various component satisfaction and trust.
To identify the relationship between various component satisfaction and commitment.
To identify the…… [Read More]
The employees should be firmly committed to the firm, they are the face of a firm (also its eyes and ears). The staff focus should be involved in the process management, also their measurement and knowledge as well as initial contact with customers, all contribute to the performance of the organization.
Firms need to provide results on a consistent basis, be innovative and should respond quickly to any changes in environment for giving exceptional results and satisfying customers. Further in continuous improvement, aspects such as redesign of processes or services, upgraded technology systems, proper paperwork should be focused upon. Continuous improvement requires all firms' members to look for opportunities to improve. Overall, the continuous improvement process involves customers, leadership, employees and quality. It is the customers who determine if the firm is providing quality. They are the judges of it. The leadership is useful for setting direction of the firm.…… [Read More]
Customer Value Funnel Approach. The reference appends four sources in APA format.
The "customer value funnel approach" (p. 153) is a highly significant implement for clearly comprehending and evaluating business mechanisms and other marketing-related critical situations. esides a priceless strategic marketing framework, this approach focuses on the satisfaction of customers, the main marketing target of various giants in the business industry to reap the benefits of high productivity and massive volume due to broad clientele. As Stanley Slater states "As marketers, we should be committed to the proposition that the creation of customer value must be the reason for the firm's existence and certainly for its success" (p. 153).
Hence for effective business practices and performance, customer values play a vital role and therefore all focal organizations must take into consideration all the four levels of the Customer Value Funnel approach just like Southwest Airline did when it began…… [Read More]
As the authors note the study utilizes more reflective constructs rather than formative (Hsu et al., 140). KBCP is measured through ease of navigation of the KB and other similar questions. SSE refers to the problem solving experiences of customers through independent use. PA is operationalized as "possible factors for customers to select a certain brand" (Hsu et al., 140). The other dependent variable PI is measured through would you buy this brand?
The problem of purchase intention is complex and it is not possible to capture the variability within the construct with a single question. Additionally consideration should be given to directly measure the value received from prior experience with the product or service. While there seems to be a tacit acceptance of this variable its omission from the model limits the explicative power of the model. It is reasonable to assume that self-efficacy is correlated to the prior…… [Read More]
Much marketing research has been done on analysing customer behaviour and retention. As a consequence, it is crucial for online companies to create a loyal customer base, as well as to monitor the profitability of each segment (Reinartz and Kumar, 2002)
Definition of customer e-loyalty
Customer loyalty has been defined as "a deeply held commitment to re-buy or re-patronize a preferred product/service consistently in the future, thereby causing repetitive same-brand or same brand-set purchasing, despite situational influences and marketing efforts having the potential to cause switching behaviour" (Oliver, 1999). This general definition appears to apply to e-loyalty as well. Another briefer and more specific definition is provided by Anderson and Srinivasan (2003), who define e-loyalty as "the customer's favourable attitude toward an electronic business, resulting in repeat purchasing behaviour" (p. ____).
Since it is considered difficult to gain loyal customers on the internet without directly contact (Gommans et al., 2001),…… [Read More]
anking and financial services includes such firms as investment banks, commercial banks, brokerage firms, and credit card institutions. The common it pulse throughout the daily operations of these organizations involves utilizing systems to communicate between branches and subsidiaries, establishing operations throughout the world, communicating with the end customer in order to facilitate transactions, and analyzing customer and market attributes in order to reduce uncertainties in such aspects as pricing policies" (p. 24). Some of the more salient issues affecting the financial services industry today are described further in Table ____ below.
Examples of utilization of information technology in order to enhance efficiency and productivity by the financial services industry.
Description of Impact
Credit card institutions store, retrieve, and analyze vast amounts of demographic customer information enabling them to more accurately target potential markets for new products and also identify less-attractive, credit-risk customers.
This allows them to…… [Read More]
difficulty with customer retention for Storz & Bickel is that their chief high-end product, the Volcano Vaporizer, lacks "planned obsolescence."
I am using the term that was devised by Alfred P. Sloan for the Ford Motor Company, but this is now basically a strategy implemented by all major manufacturing corporations -- in some sense, the point of an iPhone 5 is that it will eventually be made obsolete by an iPhone 6, and thus customer retention strategies are built around maintaining brand loyalty. As Medeiros (2003) writes about the original planned obsolescence strategy: "Sloan's idea was that automobiles should change each year, and should each year become more expensive (at least to the cost of production)….Each year, the new-model cars would have more improvements added on, different engines, different styling, different comfort features" (287).
The problem is that this strategy -- which works well with Ford automobiles or Apple iPhones…… [Read More]
We shall, for the purposes of this paper, accept the proposition that we are moving from a culture that can be categorized as "you get what I give" to one where the customer is always right. In the real world, there are companies that do either, depending on their business model. But for the sake of argument we will assume the position of a company that is seeking to shift from the former to a more customer-centric vision of customer service. There are two elements to such a shift -- operational and cultural. Operations can be laid out in such a way that barriers to customer service that may have existed in the past are now removed, for example. Yet, because service is inherently customer-oriented, based on interactions, it is critical that the organization shifts to a customer-service-based culture. This is a massive cultural shift from an organizational…… [Read More]
Customer Loyalty Program
In today's highly competitive marketing climate, the only way to ensure revenue is to retain customers; move purchasers to customers, and enhance the customer satisfaction index for all clients. Customer loyalty and customer satisfaction are not synonymous, however, and they have differing meanings to different types of customers. Usually, customer satisfaction is a quantitative measurement of client attitudes about products, services, branding, or delivery. Customer loyalty is both the behavior of the customer (repeat clients) or a strong and robust attitude about the brand or service that makes shopping habitual. It is this loyalty of behavior that has a direct correlation to sales and market share since, depending on product or service, the amount a quality of competition varies significantly (Hallowell, 1996). Research also shows us that the place to enhance these issues is that the retail point of purchase; this is the place in which all…… [Read More]
Customer Satisfaction, Loyalty, Management and Empowerment
I am not sure if I would be considered a most valuable customer at Verizon, but I am guessing not. I am a relatively low revenue customer for them, basically an average customer in terms of what they would make off of me. If you consider the different elements that go into a most valuable customer, they are the profitability, the timing of the revenue, the referrals that such customers can generate, their retention, the add-ons and the customer's brand, and feedback (Moltz, 2015). Of these, maybe on retention, but otherwise I would consider myself to be a generally average customer. Corporate customers are worth a lot more money, and there are consumers who are generally bigger spenders with add-ons and the like.
The lifetime value of a most valuable customer would be unknown. Corporate customers are the most valuable, and each of them…… [Read More]
Globalization is complete.
Scientists develop new ways of treating or even curing once terminal diseases, computer science helps rising communication bridges between once inseparable worlds, people and goods need less than a day to travel from Europe to America, for example, television is broadcasting news instantly and simultaneously in various parts of the globe, cloning is not a notion made up by science fiction literature writers anymore. On the other side, the suicidal rate is growing; the global warming is an indisputable fact, terrorism is threatening the whole world, Africa is still a continent where poverty and misery are at home, despite diamonds and oil, more and more people in the economic advanced countries are isolating themselves, believing that communication by means of a computer is much better than face-to-face interaction. In the end, it is a matter of ethics. Lab discoveries are good in many fields as long as…… [Read More]
Managing relationships is one of the critical success factors in managing sales. What form might relationships between selling organisations and customers take?
There are many forms that relationships taken between selling organizations and customers. The most critical determinant of how the relationships and selling organizations is the business model of the company itself. For those companies whose business models are predicated on solving complex, intricate problems for customers, direct selling relationships are the most common. The reliance on a consultative, relationship-based selling strategy is often used by companies whose business models focus on complex, challenging problems other businesses have. This approach to selling often puts the role of being a trusted advisor at the center of the selling relationship strategies (Czerniawska, 2005).
In companies who have products that rely primarily on price and availability, the selling relationship are focused on direct selling, persuasive selling, and price-based selling (Leibowitz,…… [Read More]
All those nice customer-friendly marketing techniques notwithstanding, hite notes, customer-centered personalization can't work well without being linked with high-quality, high-visibility customer service.
Even some of the most successful corporations, like IBM, apparently stumbled along for a time, totally failing to "get it" when it came to customer-centric strategies. According to the industry publication Chain Store Age, in the early 1990s, a customer-centric culture "was foreign to Big Blue" - and to al-Mart - until fairly recently. The writer goes on to explain that when considering al-Mart and Target (two retail giants that are becoming "more alike than different"), "sameness" is a "trap" that happens when a company "takes its eye off the brand to focus on the numbers, loyalty goes by the wayside. It happened to Sears," the article asserts.
RESISTANCE TO CCS/CRM: In the Jossey-Bass book, Designing The Customer-Centric Organization (Galbraith 2005), the author suggests that businesses that hesitate…… [Read More]
Lastly differentiating on the extent of experience our customers have had with Internet-based software is useful in defining how much extra time is necessary for software application training.
Discuss your efforts to create customer intimacy.
As our company relies intensively on long-term relationships with customers, taking a very active approach to creating customer intimacy is critical to our business. Our approach is to first concentrate on total accountability for our software by having our CEO visit each and every customer just after an installation to show a high degree of support and accountability. Next, we offer each customer the opportunity to join a customer advisory council specific to their industry and special interests. At present there are three customer advisory councils which give customers an opportunity to discuss their concerns, interested in new product ideas and see what is presently in development.
How will you customize your offering for particular…… [Read More]
Question 6: We have outine o egula measues of custome sevice.
At a scoe of 3, which indicates that the company's senio management sees
thei pefomance as neutal on this specific question, indicating the
consultancy has pocesses in place fo outinely measuing custome
sevice. Yet fom the esponses to ealie questions it is clea that
thee is a lack of commitment and a lack of ugency to using these outine
o egula measues to quantify thei pefomance in custome sevice
What the consultancy needs to specifically focus on is ceating a set of
custome listening stategies, and as been mentioned befoe, Voice of the
Custome pogams, to develop the discipline of gaining valuable custome
feedback on thei pefomance. A patten is beginning to emege in the
question esponses of senio management on the one hand seeing custome
centicity as a coe stength of the company, yet thee ae no…… [Read More]
The consequences of even a few dissatisfied customers can be enormous: "Dissatisfied customers turn to competitors; loyal customers spend more, refer new clients, and are less costly to do business with" (Arendt & Harris, 1998, p. 27). The authors point out that because it costs about five times more to gain a new customer than to keep an existing one, and since dissatisfied customers tell at least twice as many friends about bad experiences than they tell about good ones, it is clearly to the small business owner or manager's advantage to seek high levels of customer satisfaction and retention.
According to Gebhardt and Townsend (1990), although the notion that little things can add up to have an enormous positive effect has gained wide acceptance, many companies continue to remain sluggish in their response to the reality that little things can also have an immensely negative impact on a company's…… [Read More]
In support of this overarching aim, the following objectives were also be used.
he proposed study has three objectives as follows:
o deliver a comprehensive and critical review of the relevant literature concerning the relevant issues.
o administer a custom survey to various luxury hotel managers concerning their current branding strategies to identify commonalities and significant differences.
o provide a synthesis of the secondary and primary research that can be used as a set of best industry practices for promoting brand awareness and customer satisfaction in the hotel industry today.
Statement of Study Problem.
A wide range of factors have been cited in the literature for the growth of branding within the hotel industry, with virtually all authorities agreeing that the basic motive for such initiatives is increased profitability and a sustainable competitive advantage. In this regard, Allen (2007) reports that, "What has recently come…… [Read More]
Based on the attributes of luxury brand, the luxury brand requires special marketing strategy to achieve brand objectives. The strategy assists in developing global brand reputation as well as forming brand awareness within the global competitive environment. (Moore and Birtwistle 2005).
In the contemporary marketing environment, experiential marketing has become a cornerstone of marketing, and retailing for luxury brand. Experiential marketing is the technique of viewing consumer as an emotional and rational being who aims to achieve pleasurable experiences. (Atwal et al. 2008). Typically, experiential marketing offers customer memorable experiences in order to achieve customer satisfaction and competitive market advantages. The experiential marketing uses different tools to create the memorable experiences for customers. For example, experiential marketing organizes entertainment for customers in order to educate them, allow them to escape the reality, as well as giving them aesthetic objects or places to see. Experiential marketers use different tools to create…… [Read More]
Consequently, marketing efforts become more and more important.
Glyn Atwal and Alistair Williams (2009) for instance argue that the creators of luxury products have to use marketing efforts to identify new customers' needs even before the customers become aware of these needs. In other words, they have to "stay in front of luxury consumers" (Atwal and Williams, 2009, p.338). And in order to do so, the luxury products manufacturers strive to create positive experiences for their customers in order to inspire them and to stimulate their purchase decisions.
Otherwise put, in the context of luxury products, experiential marketing is growingly present and critical and this is due to the complex nature of the luxury sector. Here, the producers seek to transmit the image of high quality, product authenticity, as well as performance. However, aside from these statements, the luxury products must also transmit and sell a customer experience; and this…… [Read More]
organizations customer markets fundamental business models • In a 3- 5-page paper, apply framework -market analysis (external labor markets, internal labor markets, capital markets, customer markets) conduct a compensation strategy analysis competitive landscape organizations • In addition, organization, highly influential, large population job organization apply question, "What economic difference organization performance job, poor, mediocre outstanding?" Post a multiple market analysis.
Competitive Landscape Analysis on Three Companies
Coca Cola Competitive Landscape Analysis
External Labor markets
Coca Cola is one of the most well-known companies on international level. The company is an established brand with high popularity. Coca Cola has built in time significant emotional attachment to this brand from customers, employees, and business partners. Therefore, it is expected that numerous individuals want to work for the company. Coca Cola has developed a recruitment and selection process oriented towards external sources of recruitment especially regarding entry level and mid level positions. This…… [Read More]
It also suggests that user patterns are predictable to a certain degree and that these patterns could be used to develop effective affiliate marketing programs. However, research also indicates that in addition to knowing when and how to market, there are also times when it is wise not to market. Only ads that are relevant to the users interests should be used, otherwise it has a negative impact on the user, as they become annoyed and produce no economic benefit (Broder, Ciaramita, and Fontoura et al., 2008). Ad relevance is important to consider in the launch of a successful affiliate program.
Affiliate marketing is only beginning to gain the academic interest that it deserves. As the literature found, affiliate marketing can be an excellent means to reach a target market. However, ad relevance is important. This research indicated that the user wants quality information and something that they can…… [Read More]
As Moore and Anderson emphasize, "Another driver is that distance education students have as much right to expect effective library services as traditional on-campus students. Therefore, services have been enhanced to ensure easy access and equitable delivery of resources and services" (p. 384).
Clearly, then, although the mission of many university libraries to provide the resources and tools students need to achieve successful academic outcomes has not changed in substantive ways in recent years, technological innovations have demanded that they transform the manner in which they achieve these missions. A survey of university librarians conducted by Moore and Anderson (2003) determined that, "y far the major thrust of the libraries surveyed was the inclusion of information literacy skills into the curriculum, either imbedded into the discipline-specific information or as assessable tests within foundation or first-year subjects" (p. 382). The provision of these types of services, Moore and Anderson suggest, may…… [Read More]
Alliances and partnerships that enrich the customer service experience of any online self-service application are exceptionally effective across other industries as well.
The introduction and support of an online self-service application is a multifaceted and highly coordinated strategy that requires system and process integration to be successful. In addition the support for roles-based access and preferences definitions is also critically important as consumers are increasingly expecting this from their online applications and will often reject and not use those that assume a one-size-fits-all mentality in their design. Finally gaining user input and designing with consideration of their needs is crucial for change management to occur. As online self-service is part of a CM strategy in many organizations (egan & O'Connor, 2002) the marketing of the application in addition to its inherent value must both be actively communication clearly.
Sven C. Berger. (2009). Self-service technology for sales purposes in…… [Read More]
65). This level of customer service could reasonably be expected to affect customer perceptions of quality of the service they were provided, making this an important CM metric to monitor as well.
These two components of success, customer satisfaction with the initial inquiry and customer perceptions of quality of the service they were provided thereafter, can be measured in several ways. For instance, customer satisfaction could be measured using a brief telephonic survey following the conclusion of the customer inquiry that simply asked customers to rate their satisfaction on a continuum ranging from "highly satisfied" to "highly dissatisfied" and the results recorded, trended and opportunities for improvement identified (Silverman, 2005). This would be a completely objective way to assess customer satisfaction, but response rates would likely be low, especially if the survey required significant amounts of time to complete (Neuman, 2003). In the alternative, the customer's level of satisfaction could…… [Read More]
(2009). Tipskey.com. Retrieved April 2013 from: http://www.tipskey.com/article/advanced_flowchart/
Kock, E., ed. (2007). ystems Analysis & Design Fundamentals. Thousand Oaks, CA: age.
Mind Tools, (2012). Flow Charting. Retrieved April 2013 from: http://www.mindtools.com/pages/article/newTMC_97.htm
Phone Call In
ystem Creates Automatic Ticket
Elevated and Marked Urgent
Return to customer, follow up for satisfaction
Cannot solve in-house
Can solve in house, instruct technician
Elevate to upervisor
Implement olution from upervisor
Is this solved?
Receive Product Back - Test
end out to specialist; inform client of delay
Arrange for unit to be mailed in -- once it arrives, tag with Ticket number
Analyze and Address Issue
Analyze and Address Issue
Elevate and Assign to Tech…… [Read More]
However, simply hiring more people is only a part of the solution; in addition, these new employees, as well as current employees need additional training in order to allow them to serve customers more rapidly and in a more friendly manner. These goals should be tied to a compensation/bonus program for employees if the levels of customer satisfaction in the areas of improvement are enhanced. By doing so, the needs of the firm, its customers and employees are all met, thereby fulfilling the role of an effective business entity.
Brown, a. (2004, August). What's Brewing at Starbucks?. Black Enterprise, 35, 25.
Clark, P. (1999). Organisations in Action: Competition between Contexts. London: outledge.
Culpan, . (2002). Global Business Alliances: Theory and Practice. Westport, CT: Quorum Books.
John, J. (2003). Fundamentals of Customer-Focused Management: Competing through Service. Westport, CT: Praeger.
Karp, H. (1998, February). Worth More Than a Hill of Beans:…… [Read More]
One of the aspects of the balanced scorecard framework is the customer service perspective. This perspective is based on the idea that there is "an increasing realization of the importance of customer focus and customer satisfaction in any business" (BSI, 2013). The general idea is that there is a strong link between pleasing the customer and achieving the desired financial results in particular. If nothing else, it is critical that the customer is able to be happy, because that encourages return customers, and these are essential to the success of any business. When a business pursues other objectives at the expense of the customer, then the business is unlikely to thrive.
At the Cattaraugus ehabilitation Center, there are several elements to the customer perspective. First, the patient outcome is the most important thing. That is the reason why we are in existence, to provide the best service and…… [Read More]
Heart hospitals are foregoing the traditional systems with a model known as patient-focused care. In this model patients stay in one room throughout the entire procedure, rather than the traditional method of waiting for beds to open as they transfer from one unit to another. This one-room approach also works to reduce the time spent in the hospital. The Heart Hospital, which has 12 beds, usually sends patients home in three days, in comparison to five to seven days in a conventional hospital.
In addition, medical staff is generally paid higher salaries at specialty hospitals. Nurses can earn between $5 and $7 more per hour than their counterparts in traditional hospitals (tringer, 2001).
A study by health care research firm HCIA.com in Maryland demonstrates that the amenities of specialty hospitals are winning over more and more patients (tringer, 2001). The study revealed that two public hospitals performed between 25% and…… [Read More]