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A Comparative Study of Customer Satisfaction and Level of Loyalty Between Public Insurance Sector and Private Insurance Sector
"Customer Satisfaction is an important theoretical as well as practical issue for most marketers and consumer researchers" (Meuter et al., 2000). Customer satisfaction is considered as perquisite for customer retention and loyalty and helps in realizing economic goals like profitability, market share, return on investment etc. (Hackle and Westlund, 2000). Kotler (2003) defines that satisfaction is person's feelings of pleasure or disappointment resulting from comparing a product's perceived performance or outcome in relation to his or her expectations. Hence, customer satisfaction can be thought of as a user or purchaser having their needs and expectations fulfilled. In this paper, an attempt has been made to analyze and compare the customer satisfaction from different aspects of their demographic variables between public insurance sector and private insurance sector. An attempt has also been made to analyze the level of their loyalty in respect to their purchase. The survey has been done on 200 respondents of Jalandhar city. Along with other findings, it has also been found that level of customer loyalty is not similar in both sectors.
Satisfaction, Gender, Loyalty, Comparison.
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