Essay Available:
Pages:
8 pages/β2200 words
Sources:
1 Source
Style:
APA
Subject:
Business & Marketing
Type:
Research Paper
Language:
English (U.S.)
Document:
MS Word
Date:
Total cost:
$ 41.47
Topic:
Is Customer Satisfaction Necessary for Profitability
Research Paper Instructions:
Rewriting this, the information passed is some suggestions for the first draft. Quote, use the 10 references I have given to rewrite the article. The 8-page article does not contain references.
Research Paper Sample Content Preview:
Is Customer Satisfaction Necessary for Profitability
Student’s Name
Institutional Affiliation
Abstract
Customers play an instrumental role in the success of a business and evidence indicates that the kind of services, which an organization provides, affects the trust and loyalty of customers. Businesses that are able to attract a huge number of customers usually end up making higher profits compared to those that have lesser customers. There are numerous mechanisms which organizations use to attract customers, including quality product and services, better prices, discounted services, loyalty programs, and after sale services. These factors are instrumental in enabling a customer to choose to do his or her shopping in a particular establishment instead of going to another competing firm. Therefore, when a business improves its level of service delivery, it attains the opportunity of cutting on the market niche of its competitors and this translates to increased sales and revenues as well as enhanced profitability. The management is tasked with the role of ensuring that employees are well trained and qualified to handle any queries from customers to ensure that service delivery is of the highest quality.
Is Customer Satisfaction Necessary for Profitability
Introduction
Most research studies have proved that customer satisfaction leads to better business outcomes and enables an organization to attain a higher revenue as a result of the increased number of people who visit the business premises. According to a study conducted by Keiningham, Perkins-Munn, Aksoy, and Estrin (2005), when a customer is satisfied with the services that are offered by an organization, he gains a positive influence of becoming a returning customer and this contributes to the positive financial performance of an organization. In addition, numerous studies have also proved that there is a close association between the rates of customer retention and the profits that businesses make across a number of service industries. When a customer understands that an institution is dedicated to serving his needs, it is evident that a person will be motivated to make frequent purchases and this will ultimately enhance the profitability of the business.
Unlike in the past when businesses strived at making huge profits without considering how they will retain their customers, research studies have revealed that firms have improved service delivery since customer satisfaction is positively correlated to profitability. According to Alsemgeest and Smit (2013), businesses aim at having a positive return on their investment, and they have realized that this can only be achieved when they provide good services to customers. In addition, other issues such as the quality of a product, the price, and the quality of services that are provided to customers also have a huge impact on customer satisfaction. For instance, when a customer is provided with loyalty points whenever he shops at a company, the management tends to entice the shopper to make repeated visits to the business in order to increase his loyalty points (Alsemgeest & Smit, 2013). These points can later be redeemed at the same premises where a customer is able to benefit while at the same time...
Get the Whole Paper!
Not exactly what you need?
Do you need a custom essay? Order right now:
π Other Visitors are Viewing These APA Research Paper Samples:
- Human Resources Research Policy Paper: Code of Conduct9 pages/β2475 words | 10 Sources | APA | Business & Marketing | Research Paper |
- Reading In Economics Assignment (Tony) Research Assignment2 pages/β550 words | 4 Sources | APA | Business & Marketing | Research Paper |
- The value of education in todays society5 pages/β1375 words | 5 Sources | APA | Business & Marketing | Research Paper |
- Business Ethics: Unit VI Research Outline and Research Paper 6 pages/β1650 words | 10 Sources | APA | Business & Marketing | Research Paper |
- The Globalization and Its Impacts on Air Transport6 pages/β1650 words | 5 Sources | APA | Business & Marketing | Research Paper |
- Company Analysis of Royal Caribbean Cruise Ltd10 pages/β2750 words | 15 Sources | APA | Business & Marketing | Research Paper |
- The impact of underemployed, and those who have ceased working on the economy12 pages/β3300 words | 20 Sources | APA | Business & Marketing | Research Paper |