More important, the difference between satisfied customers and very satisfied customers can make a big difference in customer repeat business and the profits. Measuring client satisfaction is very important and distinguishing between degrees of satisfaction by using customer surveys is crucial. Measuring Customer Satisfaction There are several ways to gather input from customers. The simplest way to find out how customers feel and what they want is to ask them. If you have only 20 customers, you can talk to each one personally. The advantage of this approach is that you’ll get personal “feel” for each customer.
The disadvantage is that you’ll gather different information from each customer depending on how the conversation goes. Customer surveys with standardized survey question insure that you will collect the same information from everyone. Remember that few of your customers will be interested in “filling out a questionnaire”. It’s work for them without much reward. By launching a customer survey as an attempt to find out “how we can serve you better” your customers will feel less put upon. Here are a few of the possible dimensions that one could measure:
Quality of product Pricing Offers and discounts Staff’s behavior Complaints or problems Billing experience Security’s behavior Store’s ambiance & cleanliness Overall experience in store Using satisfaction Surveys to achieve a Competitive advantage Consider these with a problem eventually tells 9 other people y Satisfied patients and customers tell 5 other people about their good treatment y Cost of acquiring a new customer is usually 5-7 times greater than retaining current ones y Cost of hiring and training a new employee is up to 10 times greater than retaining current ones.
These facts underscore the need to satisfy your current customers so they remain with your organization. Ensuring their satisfaction is vital to your long-term business survival and profitability. The technology available to both you and your competitors has made it easier to duplicate each other’s products or services. Because of this, it is increasingly difficult to rely on features alone to differentiate yourself from the competition. Excellent customer satisfaction is one of the few ways to achieve a sustainable competitive advantage.
Satisfaction (and dissatisfaction) affects your organizations bottom line The value of distraction is often underestimated. Loyal customers affect an organization’s success, which can be difficult to quantify. Loyal customers grow your business by increasing market share. Over a lifetime, a loyal customer purchases more, purchases at a premium (they are less sensitive to price), costs less to sell to, and refers your business to others. An essential part of assessing satisfaction includes identifying dissatisfaction.
Dissatisfied customers often hold the information you need to succeed. Understanding when and why dissatisfaction occurs, helps you implement changes to gain and retain future customers. No matter what type of business you are in, surveys are an important tool to help you collect the information you need to understand and evaluate satisfaction. “COMPANY INTRODUCTION” Future Group Future Group is Indians leading business group that caters to the entire Indian consumption space. Led by Mr..
Shore Banyan, the Future Group operates through six verticals: operates through six verticals: Retail, Capital, Brands, Space, Media and Logistics. Apart from Pantaloon Retail, the group’s presence in the retail space is complemented by group companies, Indus League Clothing, which owns leading apparel brands like Indigo Nation, Cullers and Urban Yoga, and Galaxy Entertainment Limited that operates Boiling Co, Sports Bar and Brew Bar and The group’s Joint venture partners include French retailer TEAM group, Us-based stationary products retailer, Staples and UK-based Lee Cooper.
Group Company, Planet Retail, owns and operates the franchisee of international brands like Marks & Spencer, Next, Deadbeats and Guess in India. The group’s Indian Joint venture partners include, Maniple Healthcare, Tattletale’s, Blue Foods and Liberty Shoes. Future Capital Holdings, the group’s financial arm, focuses on asset management ND consumer credit. It manages assets worth over $1 billion that are being invested has launched a consumer credit and financial supermarket format, Future Money and soon plans to offer insurance products through a Joint venture with Italian insurance major, Generals.
The group is currently developing over 50 malls and consumption centers across the country and has formed a Joint venture company focusing on mall management with Singapore-based Capital, one of Assails largest property companies Future Group’s vision is to, deliver Everything, Everywhere, Every time to Every Indian Consumer in the most profitable manner. The group considers Palladian-nesses as a core value and its corporate credo is – Rewrite rules, Retain values. Future; В± the word which signifies optimism, growth, achievement, strength, beauty, rewards and perfection.
Future encourages us to explore areas yet unexplored, write rules yet unwritten; create new opportunities and new successes. To strive for a glorious future brings to us our strength, our ability to learn, unlearn and re-learn our ability to evolve. The motto of Future Group, to not to wait for the Future to unfold itself but create future scenarios in the consumer space and facilitate consumption cause consumption is development. Thereby, it will effect socio-economic development for their customers, employees, shareholders, associates and partners.
Their customers will not Just get what they need, but also get them where, how and when they need. They are not Just posting satisfactory results, they are writing success stories. Future Group conglomerate Future Group has six business pillars: Future Retail All the retail lines of business like food fashion and home will come under this vertical. Future Brand Custodian of all the present and future brands that are either developed or acquired by the group. Future Space Will have a presence in property and mall management.
Future Capital Will provide consumer credit and micro finance services, including marketing of MFC and insurance policies, and management of real estate and consumer fund. Future Media Will focus on revenue generation through effective selling of retail media spaces. To drive efficiencies across businesses via better storage and distribution. GROUP VISION: Future Group shall deliver Everything, Everywhere, Every time for Every Indian Consumer in the most profitable manner.
