Abstract Views :201 |
PDF Views:0
Authors
Source
Parikalpana: KIIT Journal of Management, Vol 15, No 1&2 (2019), Pagination: 307-308
Abstract
For any business, customers are considered to be the lifeblood. In the present business scenario, the primary need is to understand the behaviour of the customers under different circumstances. The market share increases and the customers are retained if the business organization provides high - quality services and satisfies the customers (Finn & Lamb, 1991). If it is not possible for any business to satisfy its customers and keep them its profit will decrease and the growth prospect for the organization will also be lowered. The 80 / 20 rule given by Pareto also states that 80% of the dealing in trade is achieved by 20% of the faithful and the trustworthy customers and vice versa. When customers perceive good service they tell 9 to 10 people. According to Gitomer (1998), in America, about half of the businesses are based on the informal “word-of-mouth” (WOM) communication. Griffin (1995) and Thuan, Ngoc and Trang (2018) have stated that profits can increase by 25% or more if the customers are retained by even a few percentages of points. It has been found by the University of Michigan that on an average if the satisfaction of the customers increase by 1% then the increment on the return on investment is 2.37% (Keiningham & Vavra, 2001).
Keywords
Service Quality, Grocery, Organized Retail, Supermarket, Hypermarket, Customer Satisfaction, Customer Trust, Customer Loyalty, Customer Commitment, Customer Delight, Customer Perceive value.
Full Text
