... 74 Determinants of Customers' Satisfaction for Stock Broking Services - An Empirical Analysis Dr Rajeev K Shukla*, Dr Ajit Upadhyaya** Liberalization and deregulation of financial sector have opened multidimensional growth opportunities for the financial service providers at the same time it has provided more profitable investment opportunities to the investors to invest their money in more diversified range of products. In this competitive environment it is very crucial to every business firm to ensure satisfaction to its customers. The main purpose of the study was to know the expectations and the satisfaction levels of investors with the services provided by the Broking Firms. The research was Descriptive in nature. Random Stratified sampling method used for collecting data from 80 respondents. Self structured questionnaire comprising of 25 statements was used. Degree of customer satisfaction measured with the help of Five point Likert scale ranging from Strongly Agree (5) to Strongly Disagree (1). Mean, Standard Deviation and one way ANOVA (Analysis of Variance) used for the data analysis. The study of Customer Satisfaction in Stock Broking Agencies has revealed that Customer Satisfaction in broking agencies is highly influenced by attributes of services and the way in which these services are delivered to the customer's. It was found in the study that customer's perceived significantly differently many of the services provided by the broking agencies. ...
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...Customer satisfaction survey questions for 5 star hotel. (Closed-ended questions) 1. How is the cleanliness of your room when you first entered your room? a. Extremely clean b. Clean c. Neutral d. Dirty e. Extremely dirty -This question enables us to find out about customer’s satisfaction on room cleanliness as well as effectiveness of cleaning staffs. 2. How would you rate our hotel’s facilities (e.g. gym, swimming pool, ball room, conference room and others) Please state the facilities that you have used during your stay : _________ a. Extremely Satisfied b. Satisfied c. Neutral d. Unsatisfied e. Extremely Unsatisfied -This question aims to find out about customer’s satisfaction on hotel’s facilities as well as efficiency of the facilities maintenance department. 3. How satisfied are you of the hotel’s parking (cleanliness, how well is it managed)? a. Extremely Satisfied (It’s one of the best I’ve ever seen!) b. Satisfied (Not bad… ample parking spaces and reasonably clean) c. Neutral (Not much to comment / I don’t drive here) d. Unsatisfied (I rather park outside) e. Extremely Unsatisfied (You call that a parking??!) -This question asks customers regarding their satisfaction on the hotel’s parking in terms of cleanliness and how well is it managed. 4. Was what you experienced (use of rooms, parking, facilities and other services) during your stay worth the price you paid? a. Extremely...
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...6. 4 Customer Growth Processes Growth Objectives (1) Create cross market by offering online ordering based on international pizza appetite that will drive the revenue growth. (2) Strengthen the customer evolution by improving the pizza delivery service on the right time. (3) Offering healthy Pizza menu to the customer as value added satisfaction to improve customer development. (4) Providing PULSE system to ensure the quality of pizza offering in order to achieve the customer growth. Growth Objectives (1) Create cross market by offering online ordering based on international pizza appetite that will drive the revenue growth. (2) Strengthen the customer evolution by improving the pizza delivery service on the right time. (3) Offering healthy Pizza menu to the customer as value added satisfaction to improve customer development. (4) Providing PULSE system to ensure the quality of pizza offering in order to achieve the customer growth. Customer Management Process Customer Management Process Acquisition Acquisition Retention Retention Growth Growth Selection Selection 6.4.1 Define the objectives in Customer Growth Processes. No | CLS & BLS | Growth Objective | | | Ensure Quality | Cross Sell Customer | Enhance Relationship | Solution Selling | | CLS | | | | | 1 | Increase Domino’s online ordering traffic to cater growing international appetite for fast food. | - | (1) | - | - | 2 | Developing pizza delivery targeting consumers...
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...Factors Affecting Customer Satisfaction in Restaurants Industry in Batticaloa Region Virudsana Thayaleswaran Department of Management, Eastern University, Sri Lanka. Abstract The purpose this study is to investigate, compare and evaluate the determinants of the customers’ satisfaction in fast food industry. Quality service, price, environment are used as an independent variables and customers satisfaction use as dependent variable. The research is quantitative in nature and random sampling technique has been used for data collection through a questionnaire survey and the sample size for this study was 100. Data have been analyzed through correlation and, multiple regressions. Key Words: Customers satisfaction, Service Quality, Price. Introduction In today’s competitive market services within the same industries become increase and due to this reason services industries differentiate the delivery of the services and product create positioning through the different communication channels (Wallin Andreassen, 1998). As for as services are concerned there is more need to be focused while marketing services offerings to the other region or nation. There must be some controls over it because it has to be marketed finely and keeping in mind the culture and customs of other nation. Services can be best offered by understanding the need of international market and the trends of people about the services there. There might be a need of changing some rules or offering while...
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...Science of Customer Satisfaction The American Customer Satisfaction Index uses customer interviews as input to a multi-equation econometric model developed at the University of Michigan's Ross School of Business. The ACSI model is a cause-and-effect model with indices for drivers of satisfaction on the left side (customer expectations, perceived quality, and perceived value), satisfaction (ACSI) in the center, and outcomes of satisfaction on the right side (customer complaints and customer loyalty, including customer retention and price tolerance). The indexes (shown in the diagram below) are multivariable components measured by several questions that are weighted within the model. The questions assess customer evaluations of the determinants of each index. Indexes are reported on a 0 to 100 scale. The survey and modeling methodology quantifies the strength of the effect of the index on the left to the one to which the arrow points on the right. These arrows represent "impacts." The ACSI model is self-weighting to maximize the explanation of customer satisfaction (ACSI) on customer loyalty. Looking at the indexes and impacts, users can determine which drivers of satisfaction, if improved, would have the most effect on customer loyalty. [pic] 1 Customer Satisfaction (ACSI) The customer satisfaction (ACSI) index score is calculated as a weighted average of three survey questions that measure different facets of satisfaction with a product or service. ACSI researchers...
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...need to provide excellent customer service to them as a means of profitability and survival. Understanding the factors behind customer service and its effect on customer loyalty is an important issue for the retail banking industry. This brings up the question “Does customer service influence customer loyalty?” With that question in mind, the following review acknowledges the importance of customer service to customer loyalty and also looks at what factors influence loyalty. The examination takes a look at service and its quality, and the overall effect it has on customer satisfaction and customer loyalty. The findings conclude a direct association among customer service, service quality, customer satisfaction and consumer bank loyalty. Introduction It is generally agreed that the top 3 constructs of building loyalty are: customer service, service quality, and customer satisfaction. This is especially true in people centric service businesses such as retail banking. In today’s competitive business environment many banks are focusing their efforts on having a loyal customer base. Thus, the question arises, “Does customer service influence customer loyalty?” The following is a review of current literature on the topic of customer service and its effect on customer’s loyalty to their bank. The review has three focuses (I) customer services’ effect on loyalty, (II) service quality’s effect on loyalty, and (III) customer satisfactions effect on loyalty. Review of Related...
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...SERVICE QUALITY AND CUSTOMER SATISFACTION: ANTECEDENTS OF CUSTOMER’S RE-PATRONAGE INTENTIONS YAP SHEAU FENa KEW MEI LIAN KDU College ABSTRACT This study was designed to examine the relationship between service quality, customer satisfaction and customer’s re-patronage intentions in the context of the restaurant industry. The respondents were 377 restaurant patrons who completed the self-administered questionnaire. Pearson Correlation analysis indicated that service quality and customer satisfaction had a direct positive effect on customer’s re-patronage intentions. Multiple Linear Regression highlighted customer satisfaction as a stronger predictor of re-patronage intentions compared to service quality. Possible interpretations, limitations, and implications for marketing professionals are discussed. Key words: Service Quality, Customer Satisfaction, Re-patronage Intentions, Restaurant INTRODUCTION In today’s fast-paced and increasingly competitive market, the bottom line of a firm’s marketing strategies and tactics is to make profits and contribute to the growth of the company. Customer satisfaction, quality and retention are global issues that affect all organizations, be it large or small, profit or non-profit, global or local. Many companies are interested in studying, evaluating and implementing marketing strategies that aim at improving customer retention and maximizing share of customers in view of the beneficial effects on the financial performance for the firm...
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...consideration to persuade the buyer’s purchasing decision i.e good image of corporate encourages purchase from one company by abridge decision rules. (Bateson 1995) stated that the service quality is generally conceptualized as an attitude, the evaluation of the service offered. Quality is basically made up from a series of evaluated experiences and are usually fluctuates less comparatively than attitudes built from the satisfaction emotions. Parasuraman et al. (1988) stated that the customers judge the service quality on the basis of overall firm’s superiority and excellence. According to (Gronroos, 2000) the evaluation of service quality by customers could be judge through the interaction process that exactly happens or perceived by customers leave a critical impacts on customers. (Parasuraman et al., 1988; Aydin and Özer, 2005; Ismail et al., 2006; etc.) If service is high in quality it is regarded as a key to succeed in most competitive service markets. Many researchers have indicated that the customer satisfaction and the customer’s trust in that service firm is directly influence by the service quality being provided. The pre-purchase expectations if fulfilled with the kind of service quality being provided the customers might be satisfied. The telecom industry which is basically the service industry, the service quality is an important factor to develop the...
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...UNDERSTANDING WORKPLACE CULTURE: CUSTOMERS EXPECTATIONS AND SERVICE QUALITY Introduction Workplace culture basically is the feel of a workplace, the way things are done, and the way people communicate and work. It is essentially the psychology of an organisation, a set of goals, beliefs, structures and behaviours. In this regard, an organisation can be compared to a person. One person can be smart, innovative and quick to adopt technology while another person can be secure, steady, reliable and consistent. Culture is created by the interaction of leadership and employees. Truly, a lot of effort is invested in many organisations to create a culture that helps the organisation better achieve its goals and business plans. This is because an organisation’s culture can be positive or negative. For example, one organisation might feel that through support, teamwork and sharing of ideas they can foster innovation that would help them bring new and exciting products to the market, while another may encourage achievement and competition by focusing on success of their consultants to attract motivated staff who can in turn help capture more market share. However, whatever the idea an organisation may have, the culture is the environment or habitat in which employees operate. This environment powerfully shapes employees’ feelings, experiences, opinions, the connection with their organisation and their interaction with their colleagues. Some elements of culture are immediately apparent...
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...1.0 Introduction Customer call centers are increasingly playing a crucial role in providing higher customer satisfaction (Anton, 1997). Many business organizations have invest heavily in call centers as they see it as an effective way to keep customer satisfied as well as gaining competitive advantages. The purpose of this study is to critically access the operational method and strategies adopted in a technical support department of a call center in order to provide maximum customer satisfaction. The selected organization is a multinational information technology (IT) corporation from the United State. The company provides IT related hardware and services to home and business users across 120 countries. It has about hundred thousand employees in 30 locations worldwide. The organization emphasizes on delivering exceptional customer experience and treat customer satisfaction as its priority focus. 2.0 The organization functional groups The organization consists of eight functional groups that work closely together to achieve organizational goal. The functional group can be categorized under two functional type; external customer facing and internal customer facing. The external customer facing functional groups are sales and marketing, technical support and customer service department. The internal customer facing functional group are human resource, finance and accounting, information system, procurement and logistic, and product design and development department. Operation...
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...time saving way to grab a bite. With the hectic lifestyle nowadays, it is no surprise that more people tend to eating-out in fast food restaurants. Thus, fast food restaurants are competing among each other, advertising their brands in order to attract customers. As the customers now have a huge range of fast food patterns and restaurants to choose, local fast food restaurants have to be sensitive in current demand and be innovative to ensure they meet their customer satisfaction. This research will focus only on service quality as a factor influencing customer’s satisfactions. The aim is to do an investigation about the service quality and customer satisfaction at A&W restaurant, Seksyen 7, Shah Alam. Using 5 SERVQUAL instruments, questionnaires will be designed and distributed to respondents. The findings will create awareness of service quality and customer satisfaction, thus help to develop future marketing strategy. 1.0 Introduction 1.1 Fast Food Industry The fast food industry is also known as Quick Service Restaurants (QSR). As its name suggests, fast food is any food that can be prepared and served within a short span of time. That being said, the concept encompasses all those restaurants and stores which sell or serve preheated or precooked food items to its customers (www.buzzle.com/articles/fast-food-industry.html) According to Bender and Bender (2001), fast food is a general term used for a limited menu of foods that lend themselves to production line techniques...
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...Introduction 2 Theoretical background 3 Service quality 3 Service Quality Evaluation Models 4 1. SERVQUAL Model 4 Description of the company 5 Starbucks 5 Importance of Marketing Research for Service Quality 5 Research objectives 5 Methodology 6 Questionnaire 6 Questionnaire description 6 Interview 8 Appendices 9 Appendix 1 (Questionnaire) 9 Appendix 2 10 (Interview map) 10 References 11 Introduction Recently the new trend that is developing is narrowed towards offering to the customer good service despite the good product. Having high service quality is accepted as one strong competitive advantage that is difficultly built but it brings high success for the company if managed properly. Service quality is following the perceptions of the customer of what he/she thinks that quality of service is about and meeting exactly their expectation. Theoretical background Service quality Defining service quality may mainly be based on assumptions because of the intangible nature that services have. Moreover, different circumstances might shape the definition of service quality differently. (Brown, 1999) Despite the intangibility that describes the services, the second very important element when giving theory based on service quality is that services are heterogeneous. Presenting them varies from producer to producer or from client to client. Finally, the last characteristic describing the services is the inseparability of the production and...
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... is becoming more sophisticated concerning the quality of service they require or expect”( Daubert 2002) . These factors may negatively affect the MFIs. In fact, the microfinance industry is losing customers because of both the aggressive competition and MFIs’ weakness to satisfy their clients (Urguizo 2006). This simple description shows why MFIs are concerned about customer satisfaction and retention. It justifies also why they must “pay attention to understand their customers’ preferences and priorities” (IFAD 2007) to survive in a competitive environment. The microfinance industry is quite slowly in becoming more “market oriented” and it seems that customer satisfaction is one of the important tools to run a business and to achieve the mission statement (on sustainability and outreach) in this sector. Customer satisfaction is an evaluative process, it is defined as “… a judgment that a product of service feature, or the product or service itself, provided (or is providing) a pleasurable level of consumption related fulfillment, including levels of under or over fulfillment” (Oliver 1997, 13) cited by ( Swaid 2007; Hom 2002). Customer satisfaction is “captured as positive feeling (satisfaction), indifference or negative feelings (dissatisfaction)” (Bhattacherjee, 2001) cited by (Swaid 2007). It is a short-term attitude that can readily change given a constellation of circumstances. Therefore, satisfaction is not a static idea and it changes as soon as a client finds...
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...vital for any kind of business or service organization. Quality management emphasis on the ways those are used in improving and controlling quality. Quality control management intended to identify and prevent products those contains faults from reaching customers. Since the foundation of Toyota, it has been successfully carried out its quality control activities in a steadfast manner and it results in the top ratings from their customers. Toyota uses some key principles to maintain their quality control management system and those principles are such as, 'Customer First', 'Quality First' Go & see at the scene', and these principles were established and imposed when the Toyota company was founded. TASK 1 Concepts of quality of Toyota Automobile Company and discussion over ‘what drives Toyota to meet their customer requirements and quality.’ The improvement of products and work quality in the production and distribution by listening to "Voice of the customer" is the core concept behind Toyota's quality control activities. When there was a merger between the ‘Toyota Motor Co., Ltd’ and ‘Toyota Motor Sales Co. Ltd.’ in 1982 in order to forming the new ‘Toyota Motor Corporation’, and for the customer’s assistance some operations that had been carried out by various departments then to satisfy customers were unified in order to establishing the ‘Customer Relations Division’. The Toyota Company tries it’s best to ensure the enhanced satisfaction to their customers by delivering...
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...issue of Customer’s switching to other service providers have been the cause of intensive research from many years now and have given rise to many theories.Due to the increased competition in the telecommunication industry it has become extremely important for the companies to pay attention towards retaining of the customers.This research study particularly investigated the causes of customer switching behavior.A prolific way to gain the knowledge about the switching behavior of customers is basically to examine the various factors that play imtegral role in switching behavior. This qualitative research study has offered new insights by defining and identifying the customer’s rationale to switch from one service provider to another. The model is estimated using the data set on the number of switching behavior. A total of 100 respondents were surveyed to identify the factors that have a greater effect on the customer satisfaction.The data were analyzed by the Optimal Scaling (Categorical Regression)to test the hypothesis. The model identified that… CHAPTER ONE: INTRODUCTION This research tried to find out the underlying factors that made the customer to switchover to another service provider in telecom industry. The telecommunication industry is one of the most important industries of the world. In order to gain competitive advantage as competition is getting more and more intense, the companies are compelled to innovate and do their best for the customer satisfaction. As in the...
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