An Analysis Of Customer Experience In The 21st Century

Customer Experience

Johnston and Kong (2011) in their study on customer experience stated that a large number of researchers have noted that customer experience can provide a new means of competition. They also stated that providing a good experience is very important since it affects customer satisfaction, delivers customer loyalty, influences expectations, instils confidence, supports the brand and also creates emotional bonds with customers or, conversely, leads to emotional scarring.

Stuart and Tax (2004) in their study noted that customer experience is the critical element to enhancing by design the service system to ultimately achieve customer delight and loyalty. Johnston and Kong (2011) also noted that while, Bate and Robert (2007)

The purpose of their study was to perform an analysis of customers’ satisfaction in Tejarat bank branches in Isfahan city .The design of the study included a descriptive-survey, which looked into determinants of customer satisfaction in the retail-banking sector in the Isfahan city. It used a total of 120 questionnaires which were randomly distributed to customers at various banks within the city. These questionnaires were used for the collecting of data and descriptive and inferential statistics in order to analysis the hypothesis. The results indicated that physical characteristics services: technical requirements and investigation of customer`s complaints didn’t have an effect on customers satisfaction within these branches while the other characteristics: enrichment services and easily receiving services actually increased customers satisfaction within these branches.

Parmjit and Meenakshi (2010) in their study explores factors which are important determinants of customer satisfaction in case of life insurance customers, to see how much effect the factors had on overall customer satisfaction and identifies the common grievances of customers with regard to their life insurance policies. The study was restricted to the cities of Chandigarh, Mohali and Panchkula and the results indicated that satisfaction with the product offerings was the primary driver of overall customer satisfaction for insurance

Overall customer satisfaction is the key performance variable in our study and is measured against the determinants of customer satisfaction – customer experience, customer trust and confidence, customer compliance process, customer awareness and customer perception. This leads us to the empirical analysis of the model and its variables.

In this section, it is noted that researchers gain knowledge based on observation and experimentation. Using the determinants of customer satisfaction like service quality, customer perception, customer experience, customer awareness, customer compliance process and customer trust and confidence, we have presented the empirical evidence which many researchers have discussed on the concept of customer satisfaction within the financial sector as well as in a regulatory environment in some