Customer Satisfaction And Product Development Essay

Customer Satisfaction And Product Development Essay

Length: 1953 words (5.6 double-spaced pages)

Rating: Better Essays

Open Document

Essay Preview

New product development is the process of introducing a diverse product in the existing, emerging or new market. It can originate from new technology or new market opportunities (Eliashberg, J., Lilien, G. L., & Rao, V. R. 1997). Literature defines product development as exploiting an untapped market opportunity and turning it into a value product for customer satisfaction. Development and introduction of a new product requires extensive research on understanding customer needs, market structure, emerging trends and analysing the internal & external competitive market environments. To evaluate customer satisfaction previous researches provide strong relationship between customer satisfaction and product quality, product features and value for money. ***
But irrespective of where opportunities originate, when it comes to successful new products it is the consumer who is the ultimate judge (Brown and Eisenhardt, 1995; Cooper and Kleinschmidt, 1987)
Firms sustain their long term position in competitive business environment by continuous research and development and meet the emergent new trends and demands by offering new variant and diversified products.
The consumer electronics industry particularly smart phone industry has extremely short product life cycle. Firms need to develop new products and update the existing ones, in order to meet the changing market demands. The emergent marketing challenges and new technological advancements fosters firms’ need to conduct research and ascertain new strategies, in order to survive and retrain their market position. Firms need capabilities in order to react to the sudden market changes and have a contingency plan to meet the changing market needs. To manage the rapid change in technology an...

... middle of paper ...

...and research available with them through surveys and research.

Conclusion and Future Research:
Today’s organizations have more options as to which market they want to or willing to enter and what innovative and effective products they will use in that market. The various approaches to target different different segments through product innovation highlight the importance of implementing different products which will be more suitable to different market segment. Future research could help in providing guidelines for each of the matrix approaches to product innovation. Apple Inc should look and decide for a strategy which best suits them and through which they could achieve more in terms of the sales and market share. For this purpose it is very important that the company should always be busy in doing research so that they could easy make decisions when ever needed.

Need Writing Help?

Get feedback on grammar, clarity, concision and logic instantly.

Check your paper »

Customer Retention And Customer Satisfaction Essay examples

- Customer retention matters. Research continues to reveal that it’s better to retain a customer rather than find a new one. Nonetheless, the 2015 Retention Marketing Survey reported that “60% of retailers report a retention rate of less than 20%.” There’s an opportunity to improve your retention strategy. Start by reinventing the customer experience. How can you keep buyers engaged. How can you anticipate their needs. Focus on offering unmatched value. “When establishing a link to value is done well, it provides a clear view of what matters to customers, where to focus, and how to keep the customer experience high on the list of strategic priorities,” write Joel Maynes and Alex Rawson at McK...   [tags: Marketing, Customer service, Customer]

Better Essays
1243 words (3.6 pages)

Customer Satisfaction Essay

- Introduction Customer satisfaction is a word commonly used in marketing (Wirtz & Bateson, 1995). It is a gauge of how goods and services provided by an organization meet or exceed customer expectation (Farris, Bendle, Pfeifer, & Reibstein, 1995). In a spirited market where companies vie for consumers, customer satisfaction is as a vital differentiator and has progressively grown to be a chief component of business strategy (Gitman, & McDaniel, 2005). Hence, it is crucial for businesses to manage customer satisfaction (Wirtz & Bateson, 1995)....   [tags: marketing, services, customer expectation]

Better Essays
1705 words (4.9 pages)

Essay on Customer Satisfaction

- Customer satisfaction Customer satisfaction is one of the most essential elements of customer retention, customer loyalty, and product repurchase. The art and science of customer satisfaction involves strategically focusing on creating and reinforcing pleasurable experiences. To maximize customers satisfaction about Fadzill Construction Sdn. Bhd works, they practice built and sell method which after the construction is finished with all ready documentation, they will open for sell. So the customer won’t feel disappointment as they will buy the house after they take a closer looked at the house....   [tags: customer retention, loyalty, new business]

Better Essays
1231 words (3.5 pages)

Aspects of Proper Customer Relationship Management Essay

- Customers are the center of the importance of quality. Attracting and satisfying customers with a product and providing them with the services they want is the key of being successful with a product or service. Organizations should consider their customers at all levels of developing their product and use customer satisfaction as the main influence in the quality of their product. In class our definition of quality is “meeting the customer’s needs and expectations.” If an organization product dissatisfies its customers then the organization will not be able to be successful....   [tags: customer relationships, customer satisfaction]

Better Essays
1146 words (3.3 pages)

Essay about Customer Orientation And Customer Diversity

- As the economy grows sustainably, Customer market continues to expand, which causing more and more people will pay close attention to customer needs and consumption. Standing direction of the enterprise and producers, the overriding goal is to pursue the highest profits in consideration of elements such as Capital, technology and customer awareness. Since the the customer is the most important consumer about the product, as well as the resources of customer remain one of the leading factors that are considered when companies make decisions in the market to get high market profits....   [tags: Marketing, Customer, Customer service]

Better Essays
1120 words (3.2 pages)

Essay about Kano's Theories of Customer Satisfaction, Terminology

- Kano’s model divided the quality of products into three parts. 1. Dissatisfies, this characteristics of quality that customers expect which they can either inform or not inform. However, if this characteristic is missing, customers will become dissatisfied immediately. For example, the quality of the product, wallet should have nice seam with no defect on the leather or TV should have correct manual and all buttons are able to use. All these things are very important to customers. By the way, the operator can check their customers’ complaint through the customer service center or dealers because if the products cannot meet customers’ need, they will complaint immediately....   [tags: product, quality, expectations]

Free Essays
592 words (1.7 pages)

Role of Customer Service in Datatronics and E-ZRP Companies Essay examples

- ... E-Z RP uses the second tier support while Datatronics uses a minimal second-tier support. In terms of the training of CSRs, Datatronics only provides minimal on-the-job training while E-Z RP provides extensive training. Datatronics hires employees with basic customer service ability while E-Z RP recruits employees based on customer service skills, business knowledge, and communication ability. The performance metric at E-Z RP is the level of customer satisfaction, while the metric at Datatronics is the time on call or between calls....   [tags: telecommunication, customer satisfaction]

Better Essays
1757 words (5 pages)

Essay about Customer Loyalty and Customer Satisfaction in a Hotel

- Customer satisfaction index 1. Safety: Personal safety, Protection safety and Storage safety 2. Convenient: Help unload luggage, Quick checkout, Alternative way of consumption and appropriate reimbursement bills 3. Private: Quiet rest environment, Secret receive a visitor and Hidden gifts distribution method 4. Respect: Initiative to say hello, Call the office and Help them call a car, etc. Customer loyalty: Customer loyalty related to the degree of customer satisfaction, it is a quantitative concept....   [tags: hotel manager, safety, storage]

Better Essays
1949 words (5.6 pages)

Customer Service As A Competitive Tool Essay

- 1.1: Explain the value of customer service as a competitive tool Customer service is valued as a competitive tool by many organisations. It gives you the ability to gain customer loyalty while meeting the customer’s expectations. Staff will have many skills and knowledge that will provide a competitive edge. Most organisations are known for the quality of their customer service. This means that they are known for good customer service or poor customer service. However, being known for good customer service will attract customers....   [tags: Customer service, Brand, Customer]

Better Essays
1457 words (4.2 pages)

Customer Service Essay

- Companies are misguided nowadays by the notion that customers depend on them, when the truth of the matter is that companies are dependent on those customers. Customer satisfaction and customer loyalty is now essential for a business or company to survive. So what is the difference between customer satisfaction and customer loyalty and how to companies and or business achieve this. Also when you have difficult customers how do you achieve customer satisfaction. It’s essential that companies or businesses today listen to their customers....   [tags: customer satisfaccion, loyalty]

Better Essays
1399 words (4 pages)