1.
Customer profit is generating from customer satisfaction level. Customers’ satisfaction level is high, customers are willing to purchase more or buy higher margin product and service. ‘Very satisfied’ and ‘satisfied’ customer has customer profit above average customer profit. ‘Somewhat satisfied’ and ‘neutral’ are still profitable but they are below average customer profit. ‘Very satisfied’ and ‘satisfied’ have highly impact on profitability.
2.
a)
From the two strategies has been tested, hotel ambience been renovated is closely meets the customer profitability objective 290.76 and training and motivation are just 278.86. ‘Very satisfied’ customers contribute in profitability of RM136 whereas staff training ‘very satisfied’ customer contribute in RM106.13. Both sides of ‘satisfied’ customers are still above average customer revenue which hotel ambience is 135 and staff training is 16.8. The only think that thing that makes hotel ambience meets profitability objective is it able to decrease the percentage of ‘very dissatisfied’, ‘dissatisfied’, ‘somewhat dissatisfied’, and ‘neutral’ customers into at least ‘somewhat satisfied’
b)
Hotel ambience improves customer satisfaction was because the purpose of a hotel was making people relax and enjoy their vacation. Before customer enter hotel, the first thing need to satisfy was customer sights. Hotel’s environment must satisfy customer impression for them to feel welcome and relax.
1.2
1.
Net Marketing Contribution (NMC) is the profit generated by marketing and sales expenses. Jacket has the highest NMC of 150 and shoes have the lowest NMC of -20. Marketing Return on Sales (ROS) is percentage of sale generated from net market contribution (NMC). Marketing ROS can easily compared ...
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...ric. The problem that Cracker is facing market share lose is due to lack of awareness and the price of the product. To increase awareness of Cracker, HP needs to invest more on marketing expenses by doing advertising on social media and social network. The second problem was pricing, pricing strategy also play an important role for introduction stage of a product. If HP’s aim is to increase market share, penetration pricing is a suitable pricing strategy. This strategy encourage customer to change to new product by pricing the product in low price.
c.
By increasing prick OK is more efficient compare to improving intent to buy 6.93% to 6.38%. This is due to the related relationship in different area because it works in a chain of command to influence customer to buy Cracker. Price OK increase eventually intent to buy rate and purchase rate will increase together.
High levels of customer satisfaction will not guarantee future sales, but are more likely to result in repeat future sales than indifferent or poor customer service. Moreover, satisfied customers are more likely to try out other products/services in the firm’s range, or recommend it to friends and family. Build on customer loyalty Customer loyalty is valued highly by most businesses and can be
Measuring this satisfaction is an important element of providing better, more effective and efficient services. When customers are not satisfied with a service as provided, the service is neither effective nor efficient and can result in a loss of business. Why do we measure customer satisfaction? The level of customer satisfaction with services is an important factor in developing a system of service provisions such as the 7P's: § Product § People § Price § Physical Evidence § Place § Processes § Promotion Theses areas of any business are responsive to the customers needs while minimising costs and time requirements and maximising the impact of the services on target populations.
We recommend Vikram to use service quality framework (SERVQUAL) as a scale to measure and manage hotel guest’s perception of service quality in terms of five dimensions (session2 slide#45), which are (i) Reliability – OV employee’s ability to dependably and accurately perform the promised service to consistently delight its guests (ii) Assurance – Knowledge and courtesy of OV employees, and their ability to convey trust and confidence. (iii) Empathy – OV’s individualized attention and customized care it offers to its guests and understanding the customer to anticipate guest needs, wants and desires to enlighten the service. (iv)Tangibles – Refers to OV’s lavish tents and other physical facilities, equipment, pleasant appearance of OV personal, etc. (v) Responsiveness – OV’s willingness to help customers and provide prompt
The hotel industry performs within a saturated market, driven by customer loyalty and competitive pricing to stand-out. This competitive nature makes it extremely important to capitalise on strengths while improving on
Close to the Customer: Customer satisfaction is very important throughout all the roles that the business plays. Many companies forget about their customers, whereas successful companies have an obsession with their customers. Excellent product quality and reliability will make a satisfied customer. Great service will keep the customer coming back.
... be on the facilities and services offered by the hotel to accommodate such persons such as the meeting rooms, conference rooms, ball rooms etc. while on the other hand, when aiming at the persons for a pleasurable visit then the marketer would more likely emphasize on the fun and exciting facilities that would interest them such as sports bar, tennis courts, treatment facility etc.
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.
Many scholars believe that customer satisfaction has a crucial role in the success of a business, and is pivotal in increasing the overall profitability of the business (Kotier, 1991). Customer value is gained through the experience they receive from the goods or purchases they have obtained from a certain business. Customer value has various definitions and concepts, Holbrook (1999) stated that it is a kind of “interactive, mutual, and preferred experience”; but simply said, “the term customer value has many meanings.”
The more profitable firms are those that are able to maintain their most valued customers throughout time. To satisfy a customer means to make him faithful and customer satisfaction becomes the index that measures the ability of the firm to produce income for the future.
Customer Satisfaction: Jih (2007) defined Customer satisfaction as a kind of emotional reaction attaining after the customer has used the service.
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.
The Hotel industry has become very important in the past years due to immense traveling and growth of international business. Hotel industry not only plays an important role in the life of people but as well as the economy of the country. Development and advancement in the Hotel industry have rapidly been taking place and especially since the rapid change in technology, it is very important for hotels to be promptly keeping up to date. When the hotel industry is spoken of, there are many famous hotels but one hotel company that has been outstanding in growth and other aspects of business, like in Leadership, Teamwork (Employee turnover), Motivation (Customer retention and satisfaction, Goals and objectives, (changing the way hotel business has worked), and Change within the company; structurally inside and physically outside, adding elements, like entertainment, gaming, and outdoor activities, is the Hilton Hotel Company.
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
...e enough because the company has chosen the best possible way to increase the company performance. The pricing strategy is the company’s best strategy from all because it affected the sales revenue a lot. Although fluctuating the price is quite risky for a business since the customers might order from other companies if the company doesn’t do it properly, but XXX Company manage to done it well so far. The effectiveness might also be seen by the average of sales revenue between January to August from 2011 to 2013.
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.