PAPERmaking! g FROM THE PUBLISHERS OF PAPER TECHNOLOGY Volume 1, Number 1, 2015
economic fluctuations, not all of them have the same proclivity towards risk, which is related to their self-perception of capacity to handle these challenges. Desertion generated by business performance The reasons for desertion resulting from business performance are related to the value proposition it offers its customers. The satisfaction components show results of quantitative studies on the customer level of satisfaction. The graph (Figure 2) shows the components of customer satisfaction. The lowest satisfaction level was related to product features.
Satisfaction with product features: The market research uncovered the following issues related to dissatisfaction with the product features. ᇏ Model centred on a single product: The single-product approach results in processes and a culture that make the offer inflexible and limited in reach. Considering the nature of the micro- entrepreneur’s activity, flexibility is one key element to promoting client retention. ᇏ Product perceived as standard: Customers perceive that price, amounts, and the methodology (accessibility) are more or less the same among the operating organisations. The new product developments have limited innovations and add little value to the customer, however complicated the business control and operation. ᇏ Changing product features: The customers are very much concerned about the new product in the market and new features. So, the customer does not stick with one company for long; instead they shift most often for the use and desire of new features. In the case of mobiles and banking service we have found the major shift by the consumers. ᇏ Company policies and norms: There are companies which change their policies very quickly; in return the customers feel cheated. So, the customers like to change and their desertion is likely. ᇏ Competitive prices by the companies: When companies, in an effort to increase profitability, increase the price of the product, so, customers switch from one company to another as an advantage to buy product from other company. Satisfaction with customer service: Though the industry still has a lot of ground to cover with respect to improving customer service, since customers have lower expectations
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Article 5 – Marketing (customers)
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