Impact of Customer Satisfaction Over Organisational Growth
Customer satisfaction is a wide area that the business organizations these days need to maintain in order to sustain in the competitive business environment. Along with that, business organizations also need to maintain the aspect of customer satisfaction in order to have a proper amount of growth in the business.
- What are the different aspects that are related to customer satisfaction?
- What are the kinds of challenges that business organizations face while maintaining the aspect of customer satisfaction?
- What can be possible solutions to the challenges regarding customer satisfaction?
Place of the research
The research is going to take place in one of the famous retail stores of UK that is in Tesco PLC in London.
Importance of the research
Customers are the major internal stakeholders of an organization. This is essential to provide products or services maintaining the various marketing factors so that customers can get most satisfaction from the organization. The customers are essentially require to provide satisfaction so that the brand name be realized and enhance to wider market areas. Thus, there are different impacts of the customer satisfaction on the organizational growth. The research would find out the major reasons behind the fact of creating impact on the organizational growth. From the correct research and process of research, the information about satisfaction of customers on the organization will be accessed. Research will enlighten the factors and the level of different customer’s satisfaction. The variation in the customer satisfaction can differ and create different impact on t5he organizational growth. With most satisfaction by the customers, there are greater chances to enhance the organizational growth. When there are less satisfaction or no satisfaction altitude the growth of the organization is in trail and requires establishing various marketing and promotional strategies. Thus, the research would help to understand the various satisfaction altitude of the customer and the impact of the fact over the organizational growth.
Review of the literature
Most of the pertinent literature regarding the current concern appears pedantic about the modes that the core customers can be satisfied at their desired extent since it is a sheer exaggeration to admit that it is a primary requisite to satisfy the core customers in order to justify the stimulation of growth, both in terms of capital and expansion. The abrupt increase of volatility and competition in the international market ambience coupled with the advent of technological expertise and abnormal hike in customer expectations have made the criterion of customer satisfaction imperative in order to thrive in the market and pursuing the absolute business objectives with a relative competitive advantage. In this regard, the apprehensions of Saeidiet al. (2015) appear prudent since it is evident the main hindrance in the current context appear to be posed by the concept of crowd market.
The emerging notion of crowd market appears to quench the demand more than the expected supply and the market experience an overflow of identical products. As an aftermath, this emerging notion happens to introduce a considerable decline in the switching costs. This enables the customers to switch to some other concern very easily without any hesitation since the market appear to bustle with identical products. In this regard, most of the circumspect literature appears to suggest the organizations to provide a considerable vehemence in the perspectives of the prospective customers.
According to Agnihotriet al. (2016), it can be accomplished simply by patronizing or pampering the specifications of the requirements from the core customers. This vehemence in exclusive nuances might benefit the organizations since this can address the specific perspective of the customer on a certain product. Furthermore, it has been discussed in an article by Blutet al. (2015) that, while recruitment and the in the course of a certain project, most of the organizations are prone to ignore the exclusive talents of the respective employees. As a consequence of that, they lack the spirit of introducing innovation in their products that might have the potential to establish the exclusivity of their product which might distinguish them from the identical products. In this regarding, coping with the adversities posed by the aforementioned incidents can be recommended to recognize and invest in the extra talents that their subordinates might pertain in order to satisfy the customers with innovative features over the same product. This can also assist them to evade the curse of the emerging notion of crowd market.
In the light of the above discussion, it can be concluded regarding the current context that, initially it has become very difficult to thrive in the underlying market stained with aggressive rivalry and exponential increase in volatility with the absolute objectives. Furthermore, the outbreak of crowd market is also a major reason that might affect the notions of customer satisfaction, which is almost an imperative condition to pursue in order to obtain the desired growth of capital. In this regard, as most of the literature of this discipline reflects, the organizations need to acknowledge the innovative capabilities underlying within their workplace ambience. This, apart from assisting to cope with the aftermath of crowd market, can facilitate the entry in the foreign markets to expand of the respective organization.
Methodology for the research
Research methodology mainly deals with the tools and techniques that would be used in order to complete the entire research. Proper maintenance of the research methodology would help the researcher to have a smooth path throughout the entire research. The research philosophy that could be used in order to conduct the study is positivism philosophy. The main reason behind this is the fact that the different kind of scientific principles can be used in order to understand the aspects related to customer satisfaction. In addition to that, to complete the research, descriptive design can be taken into consideration because of the fact that the entire research would deal with an ample amount of data. Along with that, descriptive design would also help the researcher to analyze the entire set of data in order to find out the impact of customer satisfaction over the organizational growth of Tesco PLC (Mackey and Gass, 2015).
On the other hand, the researcher may choose the deductive approach in order to conduct the study. The main reason behind this approach is the fact that it starts from a general point of view that is the customer satisfaction and terminates at a specific reaction that is whether it is influencing the organizational growth or not. In addition to that, when it comes to sampling technique the researcher may use both the probability and non-probability sampling as the data would be going to obtain from surveys over the customers of Tesco PLC and interviews conducted over the managers of Tesco PLC. All the data that would be gathered for analysis needs to be protected under the Data Protection Act 1998 and there should be no exchange of money while the process of data collection is going on. In addition to that, there needs to be a specific timeline based on which the entire research would take place.
|Activities||Month 1-2||Month 3-4||Month 5-6||Month 7-8||Month 9-10||Month 11-12|
|Selection of research topic|
|Composition of the literature|
|Methodology followed in the research|
|Collection primary data|
|Analysis and interpretation of the collected data|
|Conclusion and recommendation|
Process of data collection
The data can be collected using the data research collection model. According to Tayloret al. (2015), the data research consists of primary data collection and secondary research methods. The primary research includes the gathering of new data, which have never collected in the past time. This is the process used as the questionnaire and interviews towards the people within the focused groups the secondary research method is use to gather the existing information from the existing sources.
According to Brinkmann (2014), the secondary research can be conducted using the sources such as books, journal, and internet and so on. Within the primary research method there are two phases and includes the qualitative questionnaire and quantitative questionnaires towards the focused people. The qualitative questionnaire includes the data that adds details and provides human voice implementation within the survey’s results. This is inquiry based research and aims gathering in depth with the understanding the target audiences. Qualitative research can use different approaches to collect data and for the project on the given topic, there will be the qualitative research. This study also includes the quantitative research, which develops as well as employs mathematical process and theories for yielding the results of the surveys. This research will collect common results and tally with different perspectives of people’s reviews.