Customer satisfaction index Essay
A company’s success mainly depends on how well the company can achieve its objectives. Most profit making company’s success depends on high levels of revenue and stable financial reports. For this to be achieved customer satisfaction must be a top priority to the company. Customer satisfaction involves the ability of the company to attract and maintain its market by ensuring customers expectation and utility levels are met. According to American Customer Satisfaction Index (ACSI) total quality management tends to determine the costs and customer satisfaction.
This is because when goods are of high quality, costs incurred in repairs and customer compensation is minimal. Human resource department is also essential in improving customer services. In most cases companies that really on human resource tend to have a lower revenue level and weak customer service. As proven by National ACSI score the reason behind human resource related problems, is the constant analysis in company’s profit levels without taking concern of employee requirements.
Customer satisfaction should be a responsibility of the entire company since it’s includes quality assurance, well designed management and customer relationship. However, the bottom employees such as the sales representatives and supply departments who directly deal with the customers are the most
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It’s essential to determine how a company rates in the industry in terms customer satisfaction. The rolling basis method can used to establish the company performance. The overall customer satisfaction, expectation disconfirmation and performance vs deal results of several company’s industry are recorded in a scale of 1-10. The data can easy be collected by use of interviews, questionnaires or observation of the customers’ market behavior. Bottom line, quality assurance and customer satisfaction are the key factors to improving company revenues and attaining stated objectives.
References 1. Anderson, Eugene W. , Claes Fornell & Sanal K. Mazvancheryl, (2004), “Customer Satisfaction and Shareholder Value,” Journal of Marketing, Vol. 68, October, 172-185. 2. Fornell, Claes, (2007), The Satisfied Customer: Winners and Losers in the Battle for Buyer Preference. N. Y. : Palgrave Macmillan. 3. Luo, Xueming and C. B. Bhattacharya. (2006) “Corporate Social Responsibility, Customer Satisfaction, and Market Value. ” Journal of Marketing,