Professional Documents
Culture Documents
Customer Satisfaction
Customer Satisfaction
Customer Satisfaction
Introduction
Customer satisfaction, business term, is a proportion of how items and services provided by an
organization meet or outperform customer desire. It is seen as a key execution marker inside business
and is a piece of the four points of view of a Balanced Scorecard. In an aggressive commercial centre
where organizations vie for customers, customer fulfillment is viewed as a key differentiator and
progressively has become scratch component of business strategy. There is a generous assemblage of
exact writing that builds up the advantages of consumer satisfaction for firms. Consumer satisfaction
is an uncertain and dynamic idea and the actual manifestation of the condition of fulfillment will shift
from individual to individual and product/administration to item/benefit. The condition of fulfillment
relies upon number of both mental and physical factors which relate with satisfaction practices, for
example, return and suggest rate. The level of fulfillment can likewise shift contingent upon different
alternatives the customer may have and different items against which the customer can think about the
associated items
1. Problem/Need Recognition: This is often identified as the first and most important step in the
Customer's Decision Process. A purchase cannot take place without the recognition of the
need. The need may have been triggered by internal stimuli (such as hunger or thirst) or
external stimuli (such as advertising or word of mouth)
2. Information Search: Having recognised a problem or need, the next step a customer may take
is the Information Search stage, in order to find out what they feel is the best solution. This is
the buyer's effort to search internal and external business environments, in order to identify
and evaluate information sources related to the central buying decision. Your customer may
rely on print, visual, online media or word of mouth for obtaining information.
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3. Evaluation of Alternatives As you might expect, customers will evaluate different products or
brands at this stage on the basis of alternative product attributes – those which have the ability
to deliver the benefits the customer is seeking.
4. Purchase Decision: The penultimate stage is where the purchase takes place. Philip Kotler
(2009) states that the final purchase decision may be 'disrupted' by two factors: negative
feedback from other customers and the level of motivation to accept the feedback. For
example, having gone through the previous three stages, a customer chooses to buy a new
telescope. However, because his very good friend, a keen astronomer, gives him negative
feedback, he will then be bound to change his preference. Furthermore, the decision may be
disrupted due to unforeseen situations such as a sudden job loss or relocation.
5. Post-Purchase Behaviour: In brief, customers will compare products with their previous
expectations and will be either satisfied or dissatisfied. Therefore, these stages are critical in
retaining customers. This can greatly affect the decision process for similar purchases from the
same company in the future, having a knock-on effect at the Information Search stage and
Evaluation of Alternatives stage. If your customer satisfied, this will result in brand loyalty, and
the Information Search and Evaluation of Alternative stages will often be fast-tracked or skipped
altogether.
Customer satisfaction:-Is a term frequently used in marketing. It is a measure of how products and
services supplied by a company meet or surpass customer expectation. Customer satisfaction is
defined as "the number of customers, or percentage of total customers, whose reported experience
with a firm, its products, or its services (ratings) exceeds specified satisfaction goals. "In a survey of
nearly 200 senior marketing managers, 71 percent responded that they found a customer satisfaction
metric very useful in managing and monitoring their businesses.
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"Customer satisfaction provides a leading indicator of customer purchase intentions and loyalty."
"Customer satisfaction data are among the most frequently collected indicators of market
perceptions. Their principal use is twofold:" "Within organizations, the collection, analysis and
dissemination of these data send a message about the importance of tending to customers and
ensuring that they have positive experience with the company's goods and services.
"Although sales or market share can indicate how well a firm is performing currently, satisfaction is
perhaps the best indicator of how likely it is that the firm's customers will make further purchases in
the future. Much research has focused on the relationship between customer satisfaction and
retention. Studies indicate that the ramifications of satisfaction are most strongly realized at the
extremes." On a five-point scale, "individuals who rate their satisfaction level as '5' are likely to
become return customers and might even evangelize for the firm (A second important metric related
to satisfaction is willingness to recommend. This metric is defined as "The percentage of surveyed
customers who indicate that they would recommend a brand to friends." When a customer is
satisfied with a product, he or she might recommend it to friends, relatives and colleagues. This can
be a powerful marketing advantage.) "Individuals who rate their satisfaction level as '1,' by contrast,
are unlikely to return. Further, they can hurt the firm by making negative comments about it to
prospective
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CUSTOMER DELIGHT::
Customer delight is surprising a customer by exceeding his/her expectations and thus creating a
positive emotional reaction. This emotional reaction leads to Word of Mouth. Customer Delight
directly affects sales and profitability of a company as it helps to distinguish the company and its
products and services from the competition. In the past customer satisfaction has been seen as a key
performance indicator. Customer satisfaction measures the extent to which the expectations of a
customer are met (compared to expectations being exceeded).
However, it has been discovered that mere customer satisfaction does not create brand byalty nor does
it encourage positive word of mouth.
Customer Delight can be created by the product itself, by accompanied standard services and by
interaction with people at the front line. The interaction is the greatest source of opportunities to
create delight as it can be personalized and tailored to the specific needs and wishes of the customer.
During contacts with touch points in the company, more than just customer service can be delivered.
The person at the front line can surprise by showing sincere personal interest in the customer, offer
small attentions that might please or find solution specific to particular needs. Those front line
employees are able to develop relationship between the customer and the brand. Elements in creating
motivated staff are: recruiting the right people, motivating them continuously and leading them in a
clear way.
First, make customers loyal As described by Sewell, that finding new customers costs 4 to 9
times more time and money than reselling to an existing client. It is thus commercially
intelligent to retain as many clients as possible.
A second objective is to have customers that are more profitable. Average delighted customers
spend more with less hassle. As can be seen with the list of Van Setten, when all other
elements are correct, clients accord less importance to price (as long as their perception of
price remains reasonable).
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The first four elements in the services marketing mix are the same as those in the traditional
marketing mix. However, given the unique nature of services, the implications of these are slightly
different in case of services.
PRODUCT
In case of services, the 'product' is intangible, heterogeneous and perishable. Moreover, its
production and consumption are inseparable. Hence, there is scope for customizing the offering as
per customer requirements and the actual customer encounter therefore assumes particular
significance. However, too much customization would compromise the standard delivery of the
service and adversely affect its quality. Hence particular care has to be taken in designing the service
offering.
PRICING
Pricing of services is tougher than pricing of goods. While the latter can be priced easily by taking
into account the raw material costs, in case of services attendant costs - such as labor and overhead
costs - also need to be factored in. The final price for the service is then arrived at by including a mark
up for an adequate profit margin.
PLACE
Since service delivery is concurrent with its production and cannot be stored or transported, the
location of the service product assumes importance. Service providers have to give special thought
to where the service would be provided. Thus, a fine dine restaurant is better located in a busy,
upscale market as against on the outskirts of a city. Similarly, a holiday resort is better situated in
the countryside away from the rush and noise of a city.
PROMOTION
Since a service offering can be easily replicated promotion becomes crucial in differentiating a
service offering in the mind of the customer. Thus, service providers offering identical services such
as airlines or banks and insurance companies invest heavily in advertising their services. This is
crucial in attracting customers in a segment where the services providers have nearly identical
offerings. The final three elements of the services marketing mix - people, process and physical
evidence - are unique to the marketing of services.
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PEOPLE
People are a defining factor in a service delivery process, since a service is inseparable from
the person providing it. Thus, a restaurant is known as much for its food as for the service
provided by its staff. The same is true of banks and department stores. Consequently,
customer service training for staff has become a top priority for many organizations today.
PROCESS
The process of service delivery is crucial since it ensures that the same standard of service is repeatedly
delivered to the customers. Therefore, companes have a service blueprint which provides the details of
the service delivery process, often going down to even defining the service script and the greeting
phrases to be used by the service staff.
PHYSICAL EVIDENCE
Since services are intangible in nature, most service providers strive to incorporate certain tangible
elements into their offering to enhance customer experience. Many hair salons invest in comfortable
and stylish sitting areas with magazines and plush sofas for patrons to read and relax while they wait.
Similrly, many restaurants invest heavily in their interior design and decorations to offer a tangible
and unique experience to their guests.
Investment:
In a major boost to the 'Make in India' initiative, the Government of India has received investment
proposals of over Rs 1,10,000 crores (US$ 16.56 billion) in the last 12 months from various
companies including Airbus, Phillips, Thomson, Samsung, LG and Flextronics among others.
India has become one of the most attractive destinations for investments in the manufacturing sector.
Government Initiative:
In a bid to push the 'Make in India' initiative to the global level, Mr. Narendra Modi, Prime
Minister of India, pitched India as a manufacturing destination at the World International Fair in
Germany's Hannover earler this year. Mr. Modi showcased India as a business friendly destination to
attract foreign businesses to invest and manufacture in the country.
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Customer relationship management (CRM) is a system for managing a company': interactions with
current and future customers. It often involves using technology to organize, automate and
synchronize sales, marketing, customer service, and technical support.
Types
Customer relationship management systems track and measure marketing campaigns over multiple
networks. These systems can track customer analysis by customer clicks and sales. Places where
CRM is used include call centers, social media, direct mail, data storage files, banks, and customer
data queries.
CM systems are customer relationship management platforms. The goal of the system is to track,
record, store in databases, and then data mine the information in a way that increases customer
relations (predominantly increased ARPU, and decreased churn). The CRM codifies the interactions
between you and your customers so that you can maximize sales and profit using analytics and KPIs
to give the users as much information on where to focus their marketing and customer service to
maximize revenue and decrease idle and unproductive contact with your customers. The contact
channels (now aiming to be omni-channel from multi-channel use such operational methods as
contact centers. The CM software is installed in the contact centers. and help direct customers to the
right agent COI self-empowered knowledge. CRM software can also be used to identify and reward
loyal customers over a period of time.
The modern environment requires one business to interact with another via the web. According to a
Sweeney Group definition, CRM is "all the tools, technologies and procedures to manage, improve,
or facilitate sales, support and related interactions with customers, prospects, and business partners
throughout the enterprise". It assumes that CRM is involved in every B2B transaction.
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Characteristics of CRM
Well-designed RM includes the following characteristics:
2. Sales force automation. SFA is a technique of using software to automate the business
4. Opportunity management. This feature helps the company to manage unpredictable growth
and demand and implement a good forecasting model to integrate sales history with sales
projections.
Implementing CRM to the company
The following are general guidelines on implementing a CRM system
Make a strategic decision on what problems you want your CRM system to address,
what improvements or changes it should bring in the business processes of the
organization.
Choose an appropriate project manager. Typically IT will be engaged, however a
manager with a customer service/sales and marketing business focus should be
involved, as the impact of the project will be mainly on the business side.
Ensure executive sponsorship and top management support
Empower team members with the required authority to complete the tasks. Select the
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correct implementation partner. They must have both vertical and horizontal business
knowledge, as well as technical expertise.
employees with the ability to respond to customer situations quickly without the need
to
Anticipate that the customer will be asking questions. They may be easy, they be
hard. But encourage them anyway. If you cannot provide an answer, promise to find
out the answer from someone who can.
Be patient, look from the customer's point of view and work from there. This point of
view will always give you the best outlook on the situation.
Customer satisfaction is an abstract concept and the actual manifestation of the state
of satisfaction will vary from person to person and product/service to
product/service. The state of satisfaction depends on a number of both psychological
and physical variables which correlate with satisfaction behaviors such as return and
recommend rate. The level of satisfaction can also vary depending on other factors
the customer, such as other products against which the customer can compare the
organization's products.
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Organizations need to retain existing customers while targeting non-customers.
Measuring customer satisfaction provides an indication of how successful the
organization is at providing products and/or services to the marketplace.
CUSTOMER ANALYSIS - CONSUMPTION AND POST-PURCHASE BEHAVIOR
Consumption is the possession and/or use of goods and services and the benefits they
deliver.
Consumption situation
Physical context: time and place of consumption
Social context: the presence of others
Consumption episode: the set of items belonging to the same event and occurring in
temporal proximity
Consumption system: a bundle of goods and services that are consumed over time in
multiple episodes
The level of satisfaction or dissatisfaction we experience depends upon how well the
product's performance meets our expectations.
A finite time period of possession is necessary to determine satisfaction.
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WHAT IS AN INDUSTRY
We all have heard of the term *Market". But what meaning does it signify? What is a market made
upon? and why must every business be so concerned about it?
The term 'market' represents both physical and online places where interaction between buyer and
seller essentially results in financial transactions, where the seller sells a product/service to the
concerned buyer in exchange for money.
There are two main components that make up a market, a buyer and a seller. Another word we often
use in place of buyer is consumer or customer. Whereas a seller is an individual firm that
manufactures product/service for its customers in order to sell them at a profit. Businesses must be
most concerned about the market they serve in because that market acts for them as a primary source
of revenue. If the market is not sizeable or profitable enough, then no business can earn a significant
revenue to sustain and carry on its operations for longer.
Having discussed about what a market is, let's dig deeper into the meaning of industry, which is
primarily concerned with sellers. The term "Industry" refers to a group of firms (or sellers) who
manufacture similar products/services for sale. In an industry, each firm competes against each other
to attract maximum buyers and hence, increase its profit for sustaining in the market.
TYPES OF INDUSTRIES
With so many businesses we see and do transactions with on a daily basis, it isimportant to understand
and have the basic knowledge of what particular industry does a business belong to. We broadly
classify industries in India as-
Textile Industry
The textile industry is primarily concerned with the design, production and distribution of yarn,
cloth and clothing. The raw material may be natural, or synthetic using products of the chemical
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industry.
IT Industry in India is perhaps the most interesting to talk about since they are leaders ininnovation. It
is one of the most competitive industries as well. Firms that are engaged inproviding Business
Solutions, Consultancy services, and PO fall under the IT Industry. Some common names under this
industry includes Tata Consultancy Services. Mindtree.Infosys, HCL Technologies, and Wipro Ltd.
Telecommunications Industry
Firms under Telecom industry are engaged in providing Communications and Internet solutions to
Individuals and Businesses. Telecom industry is one of the fastest growing and employs the largest
workforce after IT Industry. Firms under this industry includes of Bharti Artel, Reliance
Communications, Verizon, Tata Teleservices, and BSNL
Construction Industry
Businesses that are involved mainly in developing real estate projects e.g.. Residential Buildings,
Malls, and Offices come under Construction Industry. This industry is sometimes also referred to as
Real Estate Industry. Major businesses under this industry includes Hindustan Construction Co, L&T
Engineering, NCC, Shapoorji Pallonji Group, and BrigadeConstruction .
Firms under this industry are retail in nature i.e., present as retail stores selling a wide variety of
consumer goods like household items, apparels, and electronic appliances of their own brand and other
brands as well. Some businesses in this industry include Star Bazaar (a Tata and TESCO Enterprise),
Pantaloons (an Aditya Birla Group Enterprise), Reliance Fresh.Mart. and various other local
departmental stores.
Automobile Industry
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Firms that are involved primarily in manufacturing automobiles of any category (e.%.Motorcycles,
Tractors, and Trucks) come under Automobile industry. There are end
number of firms under this particular industry including Tata motors, Mahindra, Suzuki. Bajaj. TVS
Motors, and Jeep, just to name a very few of them.
CHARACTERISTICS OF INDUSTRY
Barriers to entry
Barriers to entry implies how difficult it can be for new competitors to enter a particularindustry. For
example, barriers for entering hospitality industry are relatively less.
Competition
As discussed, an industry is made up of a number of firms. These firms compete against eachother to
become the leader and secure their own growth.
Production
Firms in an industry are mainly engaged in production of goods and services. These productsand
services can be classified as consumer (intended for consumer sale) and industrial (intended for sale to
another business).
Growth in the production of rice as well as growing interest for rice among consumers are central
point for driving the endeavours of producers to make inventive commercial rice cookers, which is
foreseen to support the growth of the commercial rice cooker market.
Further, The growing usage of commercial rice cooker that that permits users to cook a wide range of
grains, from wild rice to white rice, brown rice, oats, and polenta. Additionally, expanding shopper
tendency toward brown rice is prompting the demand for industrial rice cookers, which is anticipated
to drive the global commercial rice cooker market in the foreseeable future.
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Ascend in the semi-urban as well as urban population and t the spending intensity of people are the
key factors enabling the development of the commercial rice cooker market in the near future. The
ascent in the tendency of people for secluded kitchen and the growing interest for advanced and
attractive kitchen appliances are expected to improve the commercial rice cooker market growth in
the coming forecast period.
Rising consumer awareness concerning about the protection of gas and force has uplifted the
assignment of other cooking strategies, for example, electric commercial rice cooker which can
lessen cooking time by around 80%.
Market players are advancing more in product development and improvement exercises and with the
innovation progression on cooking strategies which make rewarding open doors for the electric
commercial rice cooker in the worldwide market. Further, electric commercial rice cooker
safeguards the food against getting burnt while the food is being prepared. A few top culinary
specialists recommend electric commercial rice cooker since they keep up basic supplements instead
of customary cooking methods for bubbling and steaming.
High cost of commercial rice cookers, growing crop failure, and lack of stockrooms are major
factors expected to challenge the global industrial rice cooker market in the forecast period.
In this current circumstance of the COVID-19 pandemic, continuing business activities has gotten
especially troublesome as practically all the manufacturing units are shut and the production has been
halted through which many small scale manufacturers are facing losses. Thus, in the existing situation
for the global commercial rice cooker market is facing various challenges.
The Global Rice Cooker Markets subject to witness a substantial growth due to the increasing rice
consumption in the both underdeveloped and developing economies across the globe. Increasing
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import and export activities in the Asia Pacific and African region is expected to foster market growth
over the forecast period. Increasing popularity of the rice cookers market is attributed to its capability
to cook rice evenly, keeping the grain neither separate, undercooked nor overcooked. Globally, the
market is predicted to grow at a CAGR of 3.5% over the forecast period, providing numerous
opportunities for market players to invest in research and development of the rice cooker market. The
recent technological advancement and development of the novel products such as electric rice cookers
are expected fuel market demand over the upcoming years. Additionally, excessive features such as
measuring cups for the rice and marking on the pots to quantify the amount of water required to cook
rice are expected to boost market demand for rice cookers in the near future.
Company Profile
Hiwin India (Smrithi industries) was founded in 2010, located in Hyderabad city, Telangana state
province. With the last 4 years effort, hiwin develop into a professional home appliance manufacturer
of range Tower fan, pedestal fan, gas stoves, gas hobs, Rice cookers and induction cookers.
Hiwin has more than 150 employees, a workshop area of 20000 m2 and 2 advanced automatic
production lines. 1 lines for induction cooker with yearly output more than 2,400,000PCS; 1 lines
for tower fan with yearly output more than 200000 PCS. We have induced ERP system to manage
material and production in 2007 and running it successfully now. Meanwhile, Our products have
related international quality certificate , such as ISO 9001-2008, ACCAB, ODC,
We take pride in providing custom design solutions for highly quality projects resulting in products
that have surfaced to huge cost savings for the customer. We have an in-house tool- room and
research center with the state of the art machinery for providing turn-key solutions to the clients
.
We are equipped with all the latest technology machines, moulding equipments,tools and
softwares, which enables us to take on the most challenging projects and help us fulfil customer
requirements and meet their quality expectations at affordable cost.
Our sales turnover more than doubled every year since last 2 years. And we have major share for
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most of the products we deal for India market, we also enjoy good sales in other markets. In the
upcoming years, we will bend ourselves to upgrade our R&D competence and run our company in
rule and systematic. In order to upgrade our key competition ability, we will keep enhancing the
internal training, improving our products' quality and limiting the cost always. Meanwhile, we are
going to develop more sales opportunity in South American market as well the European market.
Hiwin India (Smrithi industries) is leading OEM / ODM supplier in the industry.
Hiwin spent 10 years sourcing and creating direct relationships with manufacturer's. Our local office in
the Telangana has been designed to coordinate quick quotes, provide constant updates, and track all
data needed to communicate with and expedite all client orders ensuring a smooth transition from
placement of orders to delivery , while avoiding the inconvenience and complexities for our customers
of dealing directly with factories overseas. We do OEM/ODM for popular brands in the industry, we
have huge art of technology equipment machinery like the CNC, Lathe Machines, Moulding machine,
Die making machines, We customize die making for customer specific needs. We have specialist who
can design and mould any customer specific design.
We are original design manufacturer (ODM) company we designs and manufactures a product which
are specified and eventually branded by another firm for sale.
Our business model has grown in size in recent years and many are now sufficient in size to handle
production for multiple clients, often providing a large portion of overall production. A primary
attribute of this business model is that the ODM owns and/or designs in-house the products that are
branded by the buying firm, we build customer specific moulds, allumium moulds.
We offer cost effective products to the customers intern results in Low people investment, infrastructure
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Basic information
Exporter
Trader
Additional Business
Importer
Statutory Profile
AXIS BANK
Banker AXIS BANK
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RESEARCH METHODOLOGY
Review of literature:
Homburg, C., & Giering, A. (2001). Focussed on Previous inquiry on the link between customer
satisfaction and loyalty has mostly neglected the difficulty of moderator variables. During a consumer‐
durables context the authors analyse the moderating impact of selected personal characteristics on the
satisfaction–loyalty link. The empirical findings, that square measure supported multiple‐group
causative analysis, show that the strength of the link between customer satisfaction and loyalty is
powerfully influenced by characteristics of the customer. Specifically, selection seeking, age, and
financial gain square measure found to be necessary moderators of the satisfaction–loyalty
relationship. © 2001 John Wiley & Sons, Inc.
Murali, S., Pugazhendhi, S., & Muralidharan, C. (2016).studied about After sales services (ASS)
square measure activities that crop up when the acquisition of the merchandise by customers and
square measure dedicated to supporting customers within the use and disposal of products. ASS will
produce property relationships with customers and contribute considerably to customer satisfaction.
the aim of this study is to gauge the ASS quality by mensuration the extent of customer satisfaction
(CS), customer retention (CR) and customer loyalty (CL) through the SERVQUAL dimensions
comprising of ASS attributes and conjointly to envision that such ASS-based dimensions of
SERVQUAL has to be targeted additional on up the standard of ASS with the thought of companies
concerned in producing the house appliances. For this purpose analysis models were planned to look
at the influence of ASS attributes on Cs, Cr and CL for 3 totally different product like stove, Water
setup and Mixer Grinder from the house appliances sector and tested by multivariate analysis analyses
on knowledge collected through the structured survey form, with a five-point Likert scale. The study
has incontestable the appliance of multivariate analysis analysis in learning the influence of ASS
attributes on Cs, CR and CL, and also the results of the study have helped in analysing the
performance.
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Bayus, B. L. (1992). Focussed on in the tutorial literature, the modelling of brand name alternative and
switch behavior encompasses a long history for of times purchased grocery. Comparable efforts with
customer consumer durables, however, area unit typically absent. This paper presents Associate in
nursing application of the complete switch model projected by capital of Sri Lanka and Morrison
(1989) to a collection of 4 major home appliances. Appliance complete loyalty, however, is shown to
be a perform of the temporal order of replacements, an element that has not entered into the modelling
of packed product. As a result, the complete switch matrices area unit analysed over the replacement
cycle.
Yang, C. C. (2003). Focused on The improvement of service quality has become a serious strategy for
up aggressiveness. The identification of customers’ necessities so the and also the} measuring of
satisfaction levels square measure therefore 2 crucial activities for enterprises. However, corporations
oft fail to know customer necessities, and also the usual strategies for measure customer satisfaction
square measure incomplete. this analysis establishes AN integrated model for achieving multiple
targets in measure service quality, i.e. to spot the necessary quality attributes that square measure
known by customers; to know customer satisfaction levels with relevancy these quality attributes; to
get the distinction between employees’ perceptions and also the customers’ perceptions of those
quality attributes; to use the analytic results to boost service quality; and to spot the classes of Kano’s
model of every quality attribute which will be used as important reference on quality choices. This
integrated model is efficacious for sensible implementation in industries, and as a crucial reference for
educational analysis on service quality.
Law, A. K., Hui, Y. V., & Zhao, X. (2004). Studied about Although customer satisfaction and loyalty
have attracted plenty of attention in commission management analysis, comparatively few studies
have examined the impact of waiting time and repair quality on customer satisfaction and repurchase
frequency. During this study, we tend to model the relationships between customer satisfactions,
repurchase frequency, waiting time and alternative service quality factors in nourishment retailers. The
results indicate that waiting time and alternative service factors like workers perspective, atmosphere,
seat convenience and food quality considerably influence the customers’ come frequency. Results
additionally show that waiting time, workers perspective, food quality and food selection all
considerably have an effect on customer satisfaction. It’s additionally found that the importance of the
link depends on the temporal arrangement of the visits. These models can facilitate managers to know
the vital factors that influence customer loyalty and satisfaction within the nourishment business and
facilitate them build enhancements consequently
Parker, C., & Mathews, B. P. (2001). Focussed on The term satisfaction could be an important
thought in promoting and is central to several definitions. This paper seeks to look at what this term
means that to the general public at massive. It explores the assorted definitions of satisfaction at
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intervals the literature. The empirical results derive from individuals’ own interpretation and definition
of the term satisfaction, additionally as analysis of their definitions. Finds that the majority individuals
cited many definitions of satisfaction, illustrating that it's a varied thought. The foremost common
interpretations mirror the notion that satisfaction could be a feeling which ends up from a method of
evaluating what was received against that expected, the acquisition call itself and/or the fulfilment of
needs/wants. It additionally finds that the actual interpretation is tormented by discourse problems,
like whether or not it's a product or service into consideration. Implications for shopper satisfaction
activity and interpretation area unit.
Hashimoto, K. (1988). Studied about in a methodology and equipment for extracting programs
appropriate for individual subscriber style from among all on the market broadcasts and for writing a
personal subscriber to program list, objective knowledge is statistically processed by applied math.
The processed results square measure input to a laptop and square measure hold on a tough disk. The
storage contents square measure scan out from the hard disc and square measure written out.
Subscriber complaints concerning the program list square measure sporadically fed back to boost
prediction exactitude, thereby providing associate degree automatic managementler attuned to
subscriber style once the individual subscriber program list is employed to mechanically control a TV
or VTR.
Grewal, D., & Sharma, A. (1991). Focussed on Salesforce behavior will have a big result on customer
satisfaction. This paper presents an abstract framework examining the impact of the salesforce policy
on customer satisfaction. Among the context of the framework, it's prompt that salespeople and sales
managers will increase customer satisfaction through accommodative commercialism behavior and by
developing customer feed-back systems severally. Testable propositions square measure prompt for
future analysis, and potential social control implications of the analysis square measure mentioned.
The paper emphasizes that the determination and improvement of customer satisfaction ought to be
essential goals of salesforce management.
Chen, Y. L., & Chiu, H. C. (2009) focussed on the purpose of this empirical study is to analyse the
consequences of relative bonds on on-line customer satisfaction exploitation gender and time horizon
as moderators. The findings are three-fold. First, the monetary and structural bonds have positive
impacts on on-line shoppers’ satisfaction; but, the social bond doesn't. Second, the monetary, social,
and structural bonds have a lot of positive impacts on feminine, than male, customer satisfaction.
Third, the monetary bond is a lot of fortunate in strengthening customer satisfaction for short-run than
for long customers.
Kabiraj, S., & Shanmugan, J studied about Brand loyalty makes a critically valuable contribution to
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Study on customer satisfaction of Smrithi Industries
competitive advantage. High whole loyalty is associate plus that lends itself to extension, high market
share, high come back on investment and ultimately high whole equity. The challenge for marketers is
the way to influence loyalty. Marketers have rush to develop supposed loyalty schemes, however don't
invariably seem to possess thought-about the key parts of why customers stay loyal to a whole. Whole
loyalty has been one in all the foremost mentioned and most misunderstood selling ideas of recent
years; so, it's clearly an honest time to return the conception of brand name loyalty. First, a loyal
customer and a glad customer don't seem to be essentially identical issue. Customers could stay
loyal for variety of reasons and should not even be pleased with the merchandise or service. An
absence of customer defections doesn't essentially indicate glad customers. From the planning of {a
newreplacement whole new} product to the extension of a mature brand, effective selling ways rely
upon a radical understanding of the motivation, learning, memory and call processes that influence
what customers get.
Gil-Saura, I., & Ruiz-Molina, M. E. (2009). Marketing is predicated on the institution and
maintenance of continuous relations between customer and salesperson as a supply of mutual
advantages. Yet, perceptions of the advantages of those relations will vary to an excellent extent
supported the sort of consumer. The aim of this text is to characterize teams of retail customers
supported their perceptions of the advantages and prices derived from their relations with retailers. As
a results of cluster analysis, we have a tendency to obtain a categorization of customers that take issue
considerably in their perceptions of relative advantages and of alternative distributor characteristics
(e.g., store's info and communication technologies, perceived worth, service quality and loyalty).
Sammer, K., & Wüstenhagen, R. (2006). Focussed on Eco‐labelling is a very important tool to beat
market failure because of data asymmetries for environmental merchandise. Whereas previous
analysis has mentioned the importance of labelling, this paper provides empirical information on the
influence of eco‐labels on customer behaviour for unit appliances. It reports on the results of a survey
involving a complete of 151 choice‐based conjoined interviews conducted in Chwezi in spring 2004.
Choice‐based conjoined analysis (also referred to as separate choice) has been applied to reveal the
relative importance of assorted product attributes for customers. The EU energy label is employed for
the merchandise class chosen in our survey, laundry machines, and that we investigate the relative
importance of this eco‐label compared with alternative product options (such as whole name) in
consumers' getting selections. We have a tendency to draw conclusions for property promoting and
policy. Copyright © 2006 John Wiley & Sons, Ltd and ERP surroundings.
Dekimpe, M. G., Steenkamp, J. B. E., Mellens, M., & Abeele, P. V. (1997). Focussed on in this paper,
we tend to examine the over-time behavior of brand name loyalty for an oversized set of brands drawn
from twenty one customer grocery classes. Exploitation the brand-loyalty operationalization of capital
of Sri Lanka and Morrison (1989), the subsequent conclusions square measure obtained. First, very
little support is found for the often-heard competition that complete loyalty is step by step declining
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over time. Second, whereas the short-term variability around a brand's mean loyalty level isn't
negligible, no proof is found that this variability has consistently multiplied over time, and it will be
reduced significantly through an easy smoothing procedure. Finally, the brand-loyalty pattern for
market-share leaders is found to be a lot of stable than for alternative brands.
Bloemer, J., & De Ruyter, K. (1998). Studied about in this article the connection between store image,
store satisfaction and store loyalty is examined. A distinction is formed between true store loyalty and
spurious store loyalty and manifest and latent satisfaction with the shop. We have a tendency to
theorise that the positive relationship between manifest store satisfaction and store loyalty is stronger
than the positive relationship between latent store satisfaction and store loyalty. What is more, we
have a tendency to theorise an on the spot yet as AN indirect impact through satisfaction of store
image on store loyalty. Second, the connection between store image and store loyalty is mediate by
store satisfaction. We have a tendency to don't notice proof for an on the spot impact of store image on
store loyalty.
RESEARCH METHODOLOGY
The philosophical aspect of the research must be understood in order to select the most appropriate
research methodology (Holden and Lynch, 2014). The philosophical framework supports the
research and the researcher must select each research process carefully keeping in mind the
research aim and objectives (Quinlan, 2011). Hence, the philosophical position must be defined
accurately as it assists the researcher to design the structure of the undertaken research.
The interpretivism reasoning would be proper for this examination as the analyst's point is to
comprehend customer discernment on mark steadfastness for family apparatuses. This will enable
the analyst to have an adaptable structure went for seeing each member's musings and feeling in
connection to the fundamental point of this examination.
RESEARCH DESIGN
Research design is the framework for conducting a research which include all the steps necessary to
obtain information for set objectives (Malhotra, 2009; Burns and Bush ,2006). Although research
objectives are unique, there may be some similarities to other studies which may allow the
researcher to make decisions in advance (Burns and Bush, 2006). Research design entails
exploratory, descriptive and casual.
Exploratory research is a research design defined to be flexible and unstructured in nature and
involves matter which may not be interpreted through quantitative measures (Malhotra, Briks and
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Study on customer satisfaction of Smrithi Industries
Wills, 2012). This type of research design may include a non- representative small sample
(Malhotra et al. 2012). Methods used to collect data in for this research design are focus groups,
observation, interviews, grounded theoryand ethnography which allow participants to express their
views in relation to the research question (Kolb, 2008).
Casual design would be appropriate for this research as it will allow the researcher to get a greater
understand of participant’s ideas and thoughts in relation to the research question from a small
sample size. Since this research design allows for flexibility the researcher can ask additional
questions for further elaboration. On the other hand, descriptive research does not suit this
dissertation as they are too structured and do not allow for flexibility and causal research will not be
suitable as the research question does not need to test cause and effect relationship.
Research Methods
Research methodology are developed from the research philosophy which assist in deciding the data
collection method. Data can be collected through quantitative and/or qualitative methods (Quinlan,
2011).
Quantitative Research:
Quantitative research can be undertaken if the researcher wants to scientifically test a hypothesis with
the use of definite numbers (Saunders, Lewis and Thornhill, 2009). Surveys, experiments and
questionnaires form the means by which quantitative data can be collected.
Qualitative Research
Qualitative research allows the researcher to get an insight of understanding, feelings, ideas,
perception and behaviour of people (Blumberg, Donald and Pamela, 2005). Qualitative techniques
included in-depth interviews and focus group discussion which allow for greater flexibility and
wherein the researcher can design questions for the research.
Research Approach
Research approach can be classified into deductive and inductive. The deductive approach is known
for testing a theory wherein a researcher develops a hypothesis or a theory which tested rigorously
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Study on customer satisfaction of Smrithi Industries
through a research strategy (Collis and Hussey, 2003). Inductive approach builds a theory which
commences after data is collected (Goddard and Melville, 2004).
The research approach undertaken for this research is the inductive approach as the research process
was initiated by exploring existing secondary data followed by collecting data through focus group
discussion, a form of primary data collection was undertaken to understand customer’s satisfaction
onwards brand loyalty for household appliances in Mumbai, India. Exploring the data was done
through secondary sources such as critically reviewing research papers and reports.
Sample Design
Sampling
An integral component of a research design is sampling plan. Specifically, it addresses three
questions:
1) Whom to survey (the sample unt)?
2) How many to survey (the sample size)? &
3) How to select them (the sampling procedure)
Making the entire universe will be inpossible on the account of limitation of time and
money. Hence sampling becomes inevitable. A sample is only a portion of the universe of
population.
According to Yuk, 'The object of sampling to get maximum information about the parent
population with minimum efforts. Properly done procedures are the representative data of the
entire population"
Sampling Unit- A decision has to be taken conceming a sample unit before selecting
sample. Sample unit may be geographical one such as State, District and Village etc. The
researcher will have to decide one or more unt that has to select for his study.
Sampling Methods
Probability sampling is known as random sampling or chance sampling. Under this
sampling design every item of the universe has equal chance or probability.
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Non Probability Sampling is also known as deliberate sampling. purposive and judgmental
sampling. Non probability samplings are those that do not provide every item in the universe
with a known chance of being include in the sample. Non probabilities are of following types:
Convenience sampling
Quota sampling
Turinemantal comnline
References
Homburg, C., & Giering, A. (2001). Personal characteristics as moderators of the relationship between
customer satisfaction and loyalty—an empirical analysis. Psychology & Marketing, 18(1), 43-66.
Murali, S., Pugazhendhi, S., & Muralidharan, C. (2016). Modelling and investigating the relationship
of after sales service quality with customer satisfaction, retention and loyalty–a case study of home
appliances business. Journal of Retailing and Consumer Services, 30, 67- 83.
Bayus, B. L. (1992). Brand loyalty and marketing strategy: An application to home appliances.
Marketing science, 11(1), 21-38.
Davis-Sramek, B., Mentzer, J. T., & Stank, T. P. (2008). Creating consumer durable retailer customer
loyalty through order fulfillment service operations. Journal of operations management, 26(6), 781-
797.
Yang, C. C. (2003). Establishment and applications of the integrated model of service quality
measurement. Managing Service Quality: An International Journal, 13(4), 310-324.
Law, A. K., Hui, Y. V., & Zhao, X. (2004). Modeling repurchase frequency and customer satisfaction
for fast food outlets. International journal of quality & reliability management, 21(5), 545-563.
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Study on customer satisfaction of Smrithi Industries
Parker, C., & Mathews, B. P. (2001). Customer satisfaction: contrasting academic and consumers’
interpretations. Marketing Intelligence & Planning, 19(1), 38-44.
Hashimoto, K. (1988). U.S. Patent No. 4,745,549. Washington, DC: U.S. Patent and Trademark
Office.
Ahn, J. S., & Sohn, S. Y. (2009). Customer pattern search for after-sales service in manufacturing.
Expert Systems with Applications, 36(3), 5371-5375.
Chen, Y. L., & Chiu, H. C. (2009). The effects of relational bonds on online customer
satisfaction. The Service Industries Journal, 29(11), 1581-1595
Kabiraj, S., & Shanmugan, J. (2011). Development of a conceptual framework for branloA Euro-
Mediterranean perspective. Journal of Brand Management, 18(4-5), 285-299.
Stock, R. M. (2011). How does product program innovativeness affect customer satisfaction? A
comparison of goods and services. Journal of the Academy of Marketing Science, 39(6), 813-827.
Gil-Saura, I., & Ruiz-Molina, M. E. (2009). Retail customer segmentation based on relational benefits.
Journal of Relationship Marketing, 8(3), 253-266.
Gender
90
80 77%
70
60
50
40 UNIVERSITY
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examiees
28%
30
20
0
male female
Study on customer satisfaction of Smrithi Industries
GRAPH NO: 1
ANALYSIS
INTERPRETATION
Age group
50 47%
42%
45
40
35
30 examinees
25
20
15 7% 4%
10
5
0 within 25 25-40 40-50 above 50
GRAPH NO: 2
ANALYSIS
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INTERPRETATION
Occupation
25% 24% 31%
35
30 16%
25
20
15 4% examinees
10
5
0
GRAPH NO: 3
ANALYSIS
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INTERPRETATION
no 16%
examinee
yes 84%
0 10 20 30 40 50 60 70 80 90
GRAPH NO: 4
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Study on customer satisfaction of Smrithi Industries
ANALYSIS
INTERPRETATION
Most of the customers knows about the smrithi industries. Only few of them do not know about the
smrithi industries.
shopping occasion
seasons 35%
offers 55%
0 10 20 30 40 50 60
GRAPH NO: 5
ANALYSIS
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INTERPRETATION
Most of the customers are willing to shop during the offer period at smrithi industries. Few of them
wanted to go for the requirements only and rest of them want to shop according to the seasons.
satisfied experiance
83%
90
80
70
60
50
examinee
4017%
30
20
10
0
yesno
GRAPH NO: 6
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Study on customer satisfaction of Smrithi Industries
ANALYSIS
INTERPRETATION
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recommendation
no 21%
examinee
yes 79%
0 10 20 30 40 50 60 70 80 90
GRAPH NO: 7
ANALYSIS
79 customers are ready to recommend their family about the smrithi industries.
Only 21 customers are not ready to share the recommended about the smrithi industries.
INTERPRETATION
Not all the customers were satisfied, that is why not all not everyone is willing to recommend their
family.
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TABLE NO: 8
expectation
92%
100
80
60
examinee
40
20 8%
0
yes
no
GRAPH NO: 8
ANALYSIS
INTERPRETATION
Most of the customers are meeting with the product expectation; few of them are not because they
were looking for low price products.
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buying again
120
100 96%
80
60
examinee
40
20
4%
0
yes no
GRAPH NO: 9
ANALYSIS
INTERPRETATION
96 customers would like to buy again but there are only 4 customers who are looking for the low
price product, this is why they are willing to buy again from smrithi industries.
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B 2-3 4
C 3-4 74
D 4-5 20
Total 100
TABLE NO: 10
recommendation scale
74%
80
60
40 examinee
20%
20
2% 4%
0
1 to 2 2 to 3 3 to 4 4 to 5
GRAPH NO: 10
ANALYSIS
INTERPRETATION
It is a good thing that most of the customers have given 3 to 4 scale and few of them given 4 to 5
scale but also some customers have given 1 to 2 and 2 to 3 scale.
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experiance scale
60
50%
40
20 43%
0 4.3%
6%
examinee
1 to 2
2 to 3
3 to 4
4 to 5
GRAPH NO: 11
ANALYSIS
INTERPRETATION
Most of the customers have given 3 to 4 and 4 to 5 scale in total of 93 customers. But there were
only 7 customers who have given 1 to 2 and 2 to 3 rating scale.
Table showing for product finding
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Study on customer satisfaction of Smrithi Industries
A Very difficult 1
B Difficult 1
C Moderate 7
D Easy 48
E Very easy 43
Total Total
TABLE NO: 12
product finding
very easy 43%
easy 48%
moderate 7%
examinee
difficult 1%
very difficult 1%
0 10 20 30 40 50 60
GRAPH NO: 12
ANALYSIS
INTERPRETATION
91 customers said they find the product easily and very easily. Only 7 customers are there who
find it moderate and 2 of customers are in very difficult and difficult.
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60 52%
50
40
25% 23%
30 examinee
20
10 2%
0
news paper SMS Handbill friends and
family
GRAPH NO: 13
ANALYSIS
INTERPRETATION
Smrithi Industries should advertise more about the offers in news paper. Only 2 customers know
about the offers through news papers. And most of the customer came to know about the offers
form others mediums.
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25 22%
20 17% 18%
15 13% examinee
10
0
price variety product quality offers
GRAPH NO: 14
ANALYSIS
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compliment
39%
40
31% 30%
35
30
25
20
15
10 examinee
5
0
GRAPH NO: 15
ANALYSIS
INTERPRETATION
31 Customers give complement for excellent service and 30 for great experience and 39 for
attentive sales person.
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Findings
1. In total, 100 customers participated in this study as shown in chart, of which 63 were male
respondents and 37 of the sample was represented by female customers..
2. Majority of the respondents were between the incomes of 30000 to 50000. This group represented
38 individuals. 22 in the income level of more than 70000, followed by 50001 to 70000. 10000 to
30000 and less than 10000 group were very less.
3. Around 51 percent of the respondents preferred to purchase from multiband showroom. 26 percent
of the respondents preferred online purchase. Only 23 percent of the respondents preferred
exclusive showroom purchase.
4. 89 percent of the respondents preferred to purchase from EMI, remaining 24 preferred full
payment. It’s about 24 percent of the respondents.
5. The reliability was calculated with a test of the Cronbach’s alpha related to each of the
variables under each construct. The Cronbach’s alpha should be over 0.70 (Hair et al. 2003) for the
variables under each construct to allow a merger into a single representative variable.
6. Three factors have been extracted and they explain 85 % of the variance in the Twenty five
variables. The most dominant factor is Factor -1 with the explained variance of 42 % and it has 10
variables related to employees of the company. Thus we named that factor as employee.
7. Out of 17 variables, three factors were extracted. The four factors were considered to lead
customer satisfaction.
8. All the three factors of satisfaction have mean values around 4.20 stating that the average
perception about satisfaction in home appliances were ―Above average‖. The factor product value
has maximum weightage as customers mostly preferred product value than other factors.
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SUGGESTIONS
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Conclusion
The purpose of the study was to investigate customer’s satisfaction on household appliance. It
commenced with an analysis of literature and past research papers. The literature was divided into
different headings; these being customer satisfaction, home appliance market in India, The
researcher felt exploring these chosen topics will help in better understanding of existing thoughts
of academics in this field. The data revealed that participants satisfaction on consumer durable
goods market. The findings and results of this paper were supporting the literature and previous
research presented in this study. The themes found in this study were in agreement with the
literature review.
As from the entire study we came to know that, customers rely heavily on quality and if not
provided with good quality to them they can shill to the other company.
Also reasonable price affects the buying process of Indian customers, as they want good quality in
lesser price and smrithi industries Works success is enviable.
As the packaging of smrithi industries is average, but still maximum customers got satisfied as
they were providing the customers with good quality, reasonable price, discount toffers, and also
solving their problem very rapidly.
Also from the customer's perspective, most of the customers were in a dilemma that they want to
recommend the company's product to others because they do not want to raise their competitor.
Customer Satisfaction depends heavily on the services that are offered to them
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BIBILOGRAPHY
http://projects.students3k.com/mba-project-on-customer-satisfaction.html
http://thecustomerinstitute.blogspot.in/2010/03/kano-model-for-measuring-customer.html
http://www.prnewswire.com/news-releases/id-power-and-associates-reports-overall-
http://www.wikipedia.org/
http://www.google.co.in/
WEBSITES
https://www.marketresearch.com
https://www.customerloyality.com
https://www.consumerbuying.com
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ANNEXURE
QUESTIONNAIRE
Name:
Qualification:
Phone/Contact:
Mail ID:
1. Gender:
(a) Male ( ) (b) Female ( )
3. Your occupation:
(a) Student ( ) (b) Employee ( ) (c) Professional ( )
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Study on customer satisfaction of Smrithi Industries
7. Would you like to recommend to your family and friend to shop in Smrithi Indsutries?
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Study on customer satisfaction of Smrithi Industries
(a) Very difficult ( ) (b) difficult ( ) (c) moderate ( ) (d) easy ( ) (e) very easy ( )
(a) Price ( ) (b) variety ( ) (c) product ( ) (d) quality ( ) (e) offers.
(a) Excellent service ( ) (b) Great experience ( ) (c) Attentive sales person.
(a) Very satisfied ( ) (b) Satisfied ( ) (c) neither satisfied nor dissatisfied ( ) (d)
Dissatisfied ( )
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