2.3 Customer Value According to David Jobber (1995), marketing- oriented organization endeavor to create customer value with a specific end goal of attracting and retaining customers. Their main aim is to deliver better esteem to their targeted customers. In doing as such, they actualize the advertising idea by meeting and exceeding customer’s needs better than the competitions. Customer value is a customer’s perceived preference for an assessment of those products, attributes, characteristics, performance and outcome emerging from utilize, that encourages (or block), accomplishing the customers goal and objective in use situations. Woodruff (1997) Furthermore, Zeithaml (1988), stated that “perceived value is the consumers overall evaluation …show more content…
This incorporates the likelihood to produce right quality of product at right price. • Service Quality: This dimension is the last and final factor of the value it appears when the customer has made up his mind to purchase a product or service. Service quality decides the relationship between the customer and the store. 2.4 Customer Satisfaction According to Kotler & Keller (2000) defined satisfaction as “a person’s feeling of pleasure or disappointment which result from comparing, a product perceived performance or outcome against his/her expectations. Hoyer (2008) also defined customer satisfaction and perceptions of quality are label we use to summarize a set of observable related to the product or services. Customer satisfaction measures the expectation of a customer relating to the product and services provided by the retail stores. Satisfied customers tend to be loyal to the organization and make more and more purchase from the same store, which in turn is beneficial for the organization. According to Hoyer and Maclnnis (2001) satisfaction can be compared with the feeling of acceptance, relief, pleasure and …show more content…
According to Martinez – Ruiz et al (2010) states, in this modern age customers are always on the look for their conveniences. For this the researcher has used some of the elements such as; membership card, parking lots, and children’s area. For example, the availability of parking lots in the hypermarket can provide convenience for customer who has a car thus leading to positive impact on the customer satisfaction. Membership card can provide customers with special promotions, offers and discounts. 2.5.3 Product Quality: According to C.D.Edward (1968) stated quality consists of capacity to satisfy wants. Quality is the degree to which the product satisfies the want or needs of a targeted consumers, H.L.Gilmore (1974). Quality is any aspect of the product, including the service included in the contract of sales, which influences the demand curve, R.Dorfman & P.O.Steiner (1954). For this research the researcher has used three elements that are, freshness of the product and variety & availability of the product, as these elements helps the hypermarket to server different kind of taste and preference to their
Customer satisfaction is what makes a customer come back again for another experience. The customers know the kind of treatment they are going to receive before they enter the store.
Marketing oriented companies are ones that allow the wants and needs of consumers and potential customers to drive the firm's tactical decisions.
Williams, P. & Naumann, E. 2011, "Customer satisfaction and business performance: a firm-level analysis", The Journal of Services Marketing, vol. 25, no. 1, pp. 20-32.
The understanding of the marketing concept has been evolving through time as firms seek to flourish in the long-term. The marketing concept is an aspect of the marketing philosophy that implements a solution to customer needs. On a basic level the marketing philosophy is comprised of three parts: customer orientation, integrated effort, and profit direction. When aligned with corporate values and vision, the marketing concept 's strong consumer focus can help a firm stay competitive while reaping organizational success.
Oliver, R. L. (1981). Measurement and evaluation of satisfaction processes in retail settings. Journal of Retailing , 25-48.
Customer satisfaction is a key ingredient to the success of any business.It is the most important factor that creates repeated customers. Some people know it but do not realize its importance. If a customer of yours is satisfied with one of your products or services, chances are this customer will purchase more of your products or services, which will increase your revenue. Therefore, in order to have your new or existing customers buy more from you, you will have to follow techniques that work. Customer satisfaction takes a very important place in Marketing. As much as you think that your marketing strategies should help you generate sales, think about how the same marketing strategies could help you achieve Customer satisfaction. There are a lot of elements involved with Customer satisfaction.
While the quality of a product can be perceived differently among consumers today, consumers often place qualities onto products based on its price, brand reputation, store image, market share, produc...
Customer satisfaction is the overriding factor for the successful operation. Sales of the supermarket can grow when it makes its customers satisfied with the goods or services by best policy to fit customers’ requirement. So, it can be told that customer satisfaction is followed by customer revisiting or repurchasing. They can also tell their acquaintances about products or services as good. Customer satisfaction and sales might be linked directly, companies have to check the factors periodically such as quality, schedule, layout, inventory and so on to lift customer satisfaction because even small factors that employees didn’t recognize can affect consumer satisfaction enormously.
Customer satisfaction is noted to be an ambiguous area with no conceptual framework, especially in public transportation (Kostakis & Pandelis, 2009). Customer Satisfaction is indeed intangible and a central concept in marketing literature (Angelova & Zekiri, 2011), business and the academic world (Tikkanen & Alajoutsijaui, 2002). It has attracted an increasing interest and importance since 1950’s till today (Bilgin, 2010). The actual manifestation of satisfaction would differ from person to person and product/service to product/service. Peyton, et al., (2003) note that it would indeed be an understatement to say that there is no general agreement on how to define satisfaction. The most commonly used conceptualizations are based on two perspectives: cumulative and transaction (Gandhi & Kang, 2006). Several authors agree that there is a need to adopt cumulative definition of satisfaction (Johnson, 2002) because cumulative satisfaction is a more fundamental indicator of the firm's past, current, and future performance (Hsu, 2008) instead of specific transactional information about a product or service encounter.
As indicated by American Society for Quality: "A subjective term for which every individual has his or her own definition. In technical usage, quality can have two meanings: the characteristics of a product or service that bear on its ability to satisfy stated or implied needs; And a product or service free of deficiencies.”
The third imperative trait of brand equity is perceived quality. As per D. Aaker (1991), perceived quality is the customer’s observation about the overall nature of the product. The recognition about the item quality is subjective and it is built by various learning of a similar product specification.
Satisfaction: A Conceptual Relationship. International Journal of Management Research and Reviews, 3(5), 2855-2862. Retrieved from http://search.proquest.com/docview/1417475767?accountid=10818
Achieving customer satisfaction is paramount in the business world today. Customer satisfactions assists you, assists the customer, as well assists the company and or business as a whole. According to Nelson “The level of satisfaction a customer has with a company has profound effects. Studies have found that the level of customer’s satisfaction has a positive effect on profitability:
When assessing the quality of a product it is important to understand the thought process of a customer as sales are generated through them. A customer generally has a preconceived idea about the product or service, after consuming they would have perception on how the product or service performed; if the product or service does perform to expectation or even beyond, it would be perceived as a quality product.
It’s subjective opinion or psychology of customers. Satisfaction is often confused with loyalty. The range of customer’s emotion is shown with surprise, contentment, happy, unhappy or relief. The entire gap between perceived quality and expected quality is influenced customer satisfaction. Customer loyalty is always is frequency buying action.