Chapter 1 Introduction 1. Introduction 1.1 General Indian Service Industry has emerged as one of the fastest and largest growing sector across the globe it’s just because of this that it has been a substantial contributor towards employment and global output. It is growing at a faster rate as compared to Manufacturing sector and agricultural sector. Service Sector contributes about 55% of GDP of India during 2006-07. Service Sector contributes about 68.6% of the overall growth in GDP from 2002 to 2007. Service Sectors of the Indian economy are given below:- • Financial Services. • Hotels and Restaurants. • Community Services. • IT enabled Services. • Telecommunications. • Information Technology.[1] There exist a wide range of activities in Indian service segment such transportation, trading, finance, communication, business service, real estate, social services, community services and personal services. Indian economy has now transitioned from agricultural based economy to knowledge based economy. IT i.e. Information Technology comes out to be one of the major functional stems of this type of economy [1]. IT keeps on being a dominating sector for the overall growth of the Indian Industry. Entertainment and media has come up with another upcoming major service industry. It is mainly a knowledgeable sector that has small and large players that spread throughout the country. Major derivatives of media are music, broadcast, television and live entertainment they all combine to play a great role that create great value by spreading awareness among the people about the programmes and policies of the country by giving them the full information. Customer satisfaction is considered to be as a scale to measure about how... ... middle of paper ... ...omer Management costs decreased. Customer Relationship Management further leads to a loyal customer so here comes the concept of Customer Loyalty. Quality of Services offered by the organisation is strongly loyalty. Major Drivers of Customer loyalty are as follows:- • Customer Relationship. • Switching Cost. • Customer Satisfaction. • Waiting Time. • Dependability. • Quality. • Trust. • Perceived Value. • Corporate and Brand Image. [1] 1.2 Motivation Researchers have proposed models on customer satisfaction index in service industry but they all very much specific for a particular industry there must exists a single model that be fitted to every service domain. The requirement of a customer satisfaction index in a service industry in India motivated me to research on Indian Customers and to propose a model that can very much be useful for every service industry.
Customer loyalty comes from the personal relationship that is developed between the customer and the business. One method used to understand the customer relationship is called customer relationship intensity and Life-cycle segmentation (UOP, 2007). This process includes classifying all the customer relationships into one of five groups.
According to this research the customer satisfaction and service quality is vary from different sectors. If dimension are different but customer satisfaction is same for all services and products. In this report I want to draw a conclusion to point out how relationship is different in different sectors. Here we are dealing with different organization of the same sector, the customer satisfaction is depends upon the services, product quality, delivery time etc.
The Gaps Model of Service Quality was originally developed for application in the financial service sector. The model was designed to measure components of customer satisfaction by using five dimensions of real or potential gaps in service quality of a hotel (Saleh & Ryan, 1991). The model has been applied to hotels, as well as a number of service agencies, including banking, hotels, restaurants, and healthcare. Even though the services differ greatly, the model is easily adapted to any service industry (Parasuraman, Zeithaml, & Berry, 1985).
[6] Kripalani, Majeet & Egnardio, Pete. The Rise Of India. Business Week Online. December 8, 2003. http://www.businessweek.com/magazine/content/03_49/b3861001_mz001.htm
Customer relationship management They have determined the key factors in maintaining and building. their relationships with customers are to provide a problem free experience at their hotels and restaurants and to give each customer personal recognition. Their strategies to build these relationships. are the same as those employed to build their business, they are tied. to each other. They are currently developing a Group-wide Guest History network.
Williams, P. & Naumann, E. 2011, "Customer satisfaction and business performance: a firm-level analysis", The Journal of Services Marketing, vol. 25, no. 1, pp. 20-32.
Richards, K., & Jones, E. (2008). Customer relationship management: finding value drivers. Industrial Marketing Management, 37, 120-130.
Customer relationship management is a cross-functional process to achieve a continuing dialogue with customers, across all their contact and access point, with personalized treatment of the most valuable customers and to ensure customer retention and the effectiveness of marketing initiatives. It is also provide the chance for customers to interact with the brand.
The growth of services sector in our economy is a step forward in the development of Indian economy. In day to day life of an individual the use of mobile phones acts as necessity in getting connected with people for one or the other purpose. India has a largest variety of smartphones available for the users. Because of the fast technologies in smartphones & in market, the networks and services providers of telecom must be updated so as to meet the requirements of people. Indian telecommunication industry is considered to be one of the fastest growing telecom industries in the world. The mounting up of the subscribers reaches to an approximate 800 billion plus users in telecom sector. The industry is growing at as pace in such a way that it will reach a level beyond the telecom markets of USA &
Customer satisfaction measures the expectation of a customer relating to the product and services provided by the retail stores. Satisfied customers tend to be loyal to the organization and make more and more purchase from the same store, which in turn is beneficial for the organization. According to Hoyer and Maclnnis (2001) satisfaction can be compared with the feeling of acceptance, relief, pleasure and
Customer relationship management has become the marketing buzzword of the past two decades with business-to-business firms jumping in, many without really being certain of what they hope to achieve from it, and oftentimes being disappointed with the results.
Customer Service is the act of dealing with the customers needs by giving and delivering professional, helpful, high quality service and help some time recently, amid, and after the customer's requirements are met.
It is essential to have a customer relationship management program in place for a business to be successful. Managing customer relationships effectively and efficiently is made possible by having a customer management relationship solution in place. Being able to track customer data is critical to an organization, this allows them to develop targeted and effective marketing campaigns and accurate sales reports. Interacting with customers frequently is a very important part of a business and by having a customer relationship management program in place supports that and makes this possible. CRM makes it easier for businesses manage a large supply of customer information and supports customer loyalty. The editors of CRM Magazine also point out, “Once thought of as a type of software, CRM has evolved into a custome...
Customer Relationships is about building a relationship of trust and convenience. A customer wants the company they are working with to be intuitive. To know their needs before they do. They want to feel respected, they need to believe you are honest and have integrity. This relationship breeds comfort and familiarity and causes the consumer to continue to do business with your company. This relationship that is built develops a personal relationship, like a friendship and it is one that the consumer cannot get from the store down the road and it is that personal touch of sincerity, of knowing their needs, of servitude that will turn them into lifelong branded customers.
There are many description and theory of customer loyalty. We should research and compare which theory is suitable for our business.