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Measuring Customer Satisfaction - Essay Example

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In addition, many businesses are concerned with making the best returns out of the limited operational budgets in order to survive…
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Measuring Customer Satisfaction
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Download file to see previous pages led to improved sales but has also led to increased customer satisfaction that intern leads to customer retention hence giving such businesses competitive advantage over others. On this basis, this essay will discuss the best practices used to measure customer satisfaction and further evaluate the current practices adopted by Union Pay Organization.
To start with, measurement of customer satisfaction has several benefits to businesses. Measurement of customer satisfaction can be defined as a process in which businesses are able to gauge the quality of their processes as well as that of their products and services from customer feedback or other indirect means (Hayes, 2008). As a result of these measurements, businesses can be able to implement and evaluate various processes in their main objectives. For instance, through the customer feedback, businesses are able to gauge themselves against competitors and identify effective strategies that can place give them competitive advantage in the market (Grigoroudis & Siskos, 2010). Further, measurement of customer satisfaction helps to reveal changes in tastes and preferences by customers that can be used in developing products and services in order to retain existing customers and also attract new section of customers by factoring their preferences in business products or services.
On the other hand, several customer measurement practices have been identified to work in various business sectors. To start with, transactional surveys have been widely used to gather information about customer satisfaction. This kind of approach is simple because it provides immediate feedback shortly after customer encounter (California Employers Association, n.d). Data collected through transactional survey may be regarded as qualitative because the kinds of responses obtained mainly include impressions of customers to general services and products relating to a particular business. Transactional surveys have advantages that can help ...Download file to see next pagesRead More
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