Service Industry Essay

925 Words2 Pages

Chapter 1 Introduction 1. Introduction 1.1 General Indian Service Industry has emerged as one of the fastest and largest growing sector across the globe it’s just because of this that it has been a substantial contributor towards employment and global output. It is growing at a faster rate as compared to Manufacturing sector and agricultural sector. Service Sector contributes about 55% of GDP of India during 2006-07. Service Sector contributes about 68.6% of the overall growth in GDP from 2002 to 2007. Service Sectors of the Indian economy are given below:- • Financial Services. • Hotels and Restaurants. • Community Services. • IT enabled Services. • Telecommunications. • Information Technology.[1] There exist a wide range of activities in Indian service segment such transportation, trading, finance, communication, business service, real estate, social services, community services and personal services. Indian economy has now transitioned from agricultural based economy to knowledge based economy. IT i.e. Information Technology comes out to be one of the major functional stems of this type of economy [1]. IT keeps on being a dominating sector for the overall growth of the Indian Industry. Entertainment and media has come up with another upcoming major service industry. It is mainly a knowledgeable sector that has small and large players that spread throughout the country. Major derivatives of media are music, broadcast, television and live entertainment they all combine to play a great role that create great value by spreading awareness among the people about the programmes and policies of the country by giving them the full information. Customer satisfaction is considered to be as a scale to measure about how... ... middle of paper ... ...omer Management costs decreased. Customer Relationship Management further leads to a loyal customer so here comes the concept of Customer Loyalty. Quality of Services offered by the organisation is strongly loyalty. Major Drivers of Customer loyalty are as follows:- • Customer Relationship. • Switching Cost. • Customer Satisfaction. • Waiting Time. • Dependability. • Quality. • Trust. • Perceived Value. • Corporate and Brand Image. [1] 1.2 Motivation Researchers have proposed models on customer satisfaction index in service industry but they all very much specific for a particular industry there must exists a single model that be fitted to every service domain. The requirement of a customer satisfaction index in a service industry in India motivated me to research on Indian Customers and to propose a model that can very much be useful for every service industry.

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