Brief summary of the theory and progression in the field
Customer satisfaction is considered to be an important strategic objective for managers from different regions of the world. Customer satisfaction and delight is considered to have to a great impact on the retention of consumers and their loyalty (Ryu, Lee and Gon Kim, 2012). The ultimate result that the organization will achieve is the they can keep the consumer around themselves for a longer period of time. In words customer satisfaction can be defined as the measure of expectation of various customer product or service provided by an organization which can be easily met.
In the coming pages of this report four article have been reviewed regarding the topic of customer satisfaction. A brief summary of all the four article has been summarized in the discussion portion of the report. Similarities and difference in the four article has been discussed in the coming of report. Limitation and further research on the topic has been analyzed and discussed in the coming pages of the report.
Brief summary of the theory
Customer satisfaction is considered to be an important objective for various managers round the globe. Customer satisfaction is considered to be a fundamental method for long term value of behavior of customer (Abd-El-Salam, Shawky and El-Nahas, 2013). Most of the research focus on certain areas likes satisfaction and retention. After analysis the relation between customer satisfaction and outcomes of business it has two keys values namely changes related to satisfaction which are positively and non-linearly related to particular service provider over a given period of time. The initial level of satisfaction to change in level of satisfaction which generally respond to sharing the value of various kinds of wallet. Secondly, the finding focus on relationship between sharing of wallet and its satisfaction. It focusses on income and value of length of relationship which are considered to be significant models. The ultimate goal of this article is to focus on the fact the manager should not improvisation of level of satisfaction without having a proper idea regarding the relationship with various customers (Abd-El-Salam, Shawky and El-Nahas, 2013). Customer are well aware of the fact regarding the various kinds of offering which are made by competitors and aims in providing some level of competition. Any kinds of change in level of customer satisfaction can aim in providing certain of results in inflow and outflow of money a firm.
Common findings among the four article
Common themes/findings across the four articles
The common finding among the four article is the main objective regarding the customer satisfaction programs which is used for increasing the rate of retention for various customers. It focusses on linking between loyalty and satisfaction for customers (Shanka, 2012). The four article focus on growth on an organization in an industry. With the growth of markets as slow or competitive firms are more accustomed on the retaining of their customers. Customer retention is taken to be an easier and reliable source of superior performance. For proper customer retention various organization have initiated a variety of activities which is inclusive of programs on customer satisfaction. For having customer satisfaction various researchers have paid full attention for the management of quality and impact or effect of service of quality on the kinds of profit. The four articles have focused on the process which ultimately forms the expectation of various kinds of services performance (Jhandir, 2012). Apart from this the four article have focused on performance implication on various kinds of investment for improving the quality of services and retention of customer. All the four articles have discussed about a term known as switching cost. Switching cost is nothing but the cost which is incurred by various customers in changing the providers that would not incurred by them if they have stayed with previous or earlier stated provider.
Different findings among the four article
The first article among the four focus on predictive abilities and value of relevance idea for non-financial performance measures. By making use of customer and data of business for support has been provided regarding the customer satisfaction which is considered to be a leading indication for purchase behavior which comprises of retention, revenue and growth of revenue. Firm level satisfaction of customer generally focusses economic value of stock market (Haghighi et al., 2012). The second article focus on the American Customer Satisfaction Index (ASCI) which is a new type of market depended measurement of various industries and economic sectors. This article focus on the nature and need of ASCI and theory dependent on the model of ASCI. The third article focus on the various programs related to satisfaction of customers which ultimately aims in increasing the rate or speed of retention. While the last or four article is all about empirical research between customer satisfaction and outcomes on business.
Limitation
The articles were reviewed in order to obtain proper information from it. It generally has certain number of limitation like the article focuses on relationship between the overall level of satisfaction (Brodie et al., 2013). Comprehensive model may result which can easily focus on relationship between level of satisfaction which focus on improvisation on the percentage of business which improvise the percentage of business which their business can provide to the competition offered by their respective competitors. Apart from this the article also focused on investing with certain areas namely age, income and education with two situational parameters namely expertise and tenure related to it.
Future Research
Future research need to be carried out on the fact regarding the presence of statistical relationship among various kinds of customers. Additional research must be conducted to have proper understanding regarding the both kind of longitudinal relationship between satisfaction and sharing of wallet (Jahanshani et al., 2014). Further research need to be carried out in various customer characteristics in various countries and industries related to it.
Conclusion
From the above discussion it can be concluded that this report is all about customer satisfaction which is well term used by various managers of the different organization. In the introduction portion of the report a proper definition of customer satisfaction has been provided. In the above pages of the report four articles has been reviewed on the topic of customer satisfaction. After that an analysis has been done regarding the similarities and difference on four article which chosen for this report. Limitation and further research on the given topic has been discussed in details in the above pages of the report. An idea has been provided regarding American Customer Satisfaction Index (ASCI) and its need in present market.
References
Abd-El-Salam, E.M., Shawky, A.Y. and El-Nahas, T., 2013. The impact of corporate image and reputation on service quality, customer satisfaction and customer loyalty: testing the mediating role. Case analysis in an international service company. Journal of Business and Retail Management Research, 8(1). Khan, I., 2012. Impact of customer satisfaction and retention on customer loyalty. International Journal of Scientific & Technology Research, 1(2), pp.106-110.
Brodie, R.J., Ilic, A., Juric, B. and Hollebeek, L., 2013. Consumer engagement in a virtual brand community: An exploratory analysis. Journal of Business Research, 66(1), pp.105-114.
Haghighi, M., Dorosti, A., Rahnama, A. and Hoseinpour, A., 2012. Evaluation of factors affecting customer loyalty in the restaurant industry. African Journal of Business Management, 6(14), p.5039.
Jahanshani, A.A., Hajizadeh, G.M.A., Mirdhamadi, S.A., Nawaser, K. and Khaksar, S.M.S., 2014. Study the effects of customer service and product quality on customer satisfaction and loyalty.
Jhandir, S.U., 2012. Customer satisfaction, perceived service quality and mediating role of perceived value.
Ryu, K., Lee, H.R. and Gon Kim, W., 2012. The influence of the quality of the physical environment, food, and service on restaurant image, customer perceived value, customer satisfaction, and behavioral intentions. International Journal of Contemporary Hospitality Management, 24(2), pp.200-223.
Shanka, M.S., 2012. Bank service quality, customer satisfaction and loyalty in Ethiopian banking sector. Journal of Business Administration and Management Sciences Research, 1(1), pp.001-009.
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