Asking each and every customer is advantageous in as much as the company will know everyone's feelings, and disadvantageous because the company will have to collect this information from each customer (National Business Research Institute, 2009)
Customer satisfaction has been a subject of great interest to organizations and researchers alike. The principal objective of organizations is to maximize profits and to minimize cost. Profit maximization can be achieved through increase in sales with lesser costs. One of the factors that can help to increase sales is customer satisfaction, because satisfaction leads to customer loyalty (Wilson et al., 2008)
When a consumer/customer is contented with either the product or services it is termed satisfaction. Satisfaction can also be a person's feelings of pleasure or disappointment that results from comparing a product's perceived performance or outcome with their expectations. (Kotler & Keller, 2009)
"the simplest way to know how customers feel, and what they want is to ask them" (Levy, 2009)
"an organization that consistently satisfies its customers, enjoy higher retention levels and greater profitability due to increase customer loyalty" (Wicks & Roethlein, 2009)
Munusamy J. and Fong V. O. (2008) examine the level of customer satisfaction with regard to IBBM’s training services. The study investigates the dimensions of service quality that have significant effect on customer satisfaction in IBBM’s training services. The study finds that the dimensions of service quality and customer knowledge are positively correlated to customer satisfaction among IBBM’s corporate clients. However, only four factors, namely, competence, credibility, accessibility, and tangibles have significant effect on customer satisfaction. Therefore, the management of IBBM should focus efforts on upgrading areas of competence, credibility, accessibility and tangibles in order to continually increase customer satisfaction for...
Please join StudyMode to read the full document