Customer satisfaction:- it is the meaure of how well a company’ product or services meets or exceeds the customer expectation or we can say that it is a measure of happiness of customer which they feel when they do business with your company and consumes product and services provides by you.it provides a critical examination of pitfalls and strength of a comany practices.
GROWTH OF BUSINESS IS ONLY POSSIBLE BY THE CUSTOMER SATISFACTION
there is no doubt that this saying is quietly true because customer satisfaction really plays a vital role in the growth of a business. if acustomer is satisfied with the product or service which are provided by you then he/she will think twice before using of a new product. he/she repeates everytime your product which enhance your business profit which in turn will grow your business. a common mistake which is made by businesses is their belief in the fact that the emergence of new customer automatically translates the growth of your business. most times, businesses make new customers but faces difficulties in retaining old customer. it means, the products and the services which are provided by you are fullfilling the short term needs of the customer and the customer satisfaction is going to decrease and in the long run, they will leave you due to the lack of their satisfaction. it effected your bussiness badly. so growth of business is fully dependent on customer satisfaction.
CUSTOMER SATISFACTION LEADS TO REPEAT SALES
satisfaction is largely influenced by delivery of value provided by a company to their customer. loyality is a direct result of customer satisfaction. loyality of customer means that customer is sticking to supplier on the certain ground though he ore she may be having other option too. it means because of that satisfaction level which your product or service is providing to the customer forces the customer for the consistantly purchasing the product and the service over an extended periods of time. it leads to repeat sales.
CUSTOMER SATISFACTION LEADS TO BUSINESS SUCCESS
ever enterpreneur has some dreams which is associated with its business. and when his dreams come true he says his business is successful. some businessman defines success as monetary rewards but on the other hand, some businessman defines success as positive impact of thier product and services on their customer. success of business is totally dependent of customer satisfaction because it increases customer lifetime value. if there is customer satisfaction, customer will not use bad words which reduces customer churn. customer satisfaction is the leading indicator of consumer repurchase intention which enhances the monetary rewards of your company as well as positive impact of your product that is the success of any business.
CUSTOMER SATISFACTION LEADS TO SURVIVAL OF BUSINESS
the survival of business means that business is continuing to do okay during tough times. the business is still able to pay staff, attract customers and pull in enough profit. survival is the most important objective of any company. in every industry, there are so many competing firms and a lot of competition means that each and every firm is trying to undercut one another in order to sell more of their product and services. at last the firm may get so good at producing the goodthat they are able to sell them at a price which is not beneficial to them in profit making. then the firms will be forced to leave the market because they cannot cover the basic cost of operation. but if your customer is totally satisfied by the quality of your product and the services then they will not move out whether the same product is available on low cost.this leads the survival of your business as your customers are loyal to you which in turn the result of customer satisfaction. so the saying is true that the customer satisfaction leads to survival of business.
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