10-04-2017, 07:26 PM
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A STUDY ON CUSTOMER SATISFACTION TOWARDS STATE BANK OF TRAVANCORE, WITH SPECIAL REFERENCE TO CHAVAKKAD BRANCH
INTRODUCTION TO THE STUDY:
The prosperity of every business unit depends on the efficiency with which its goods are marketing. Marketing occupies an important position in the organization of a business unit. If the marketing functions are not fruitfully carried out, it will affect the existence of an ultimate customer at all time. Now days it become necessary develop new marketing techniques in maintaining the existing customers and in meeting the new ones. The most important changes in the present day market is that quality standards earliest determined by the marketer have been now determined by the customer. Marketing begins with assessment of customer concerns and up with the evolution. Many companies are aiming for high satisfaction because customers who are just satisfied still find it easy to switch when a better offer comes along. Those who are highly satisfied are much less ready to switch. High satisfaction or delight creates an emotional bound with the brand, not just a rational preference. The result is high customer loyalty. The key to generating high customer loyalty is to deliver high for customer centered companies; customer satisfaction is both a goal and a marketing tool. Companies that achieve high customer satisfaction ratings make sure that their target market knows it.
Marketing is concerned with satisfying customer needs. It is anything that an organization does in an attempt to satisfy customers. It is the process of identifying and meeting human and social needs.
Customer satisfaction = actual performance by the firm customer expectations.
Marketing is social and managerial process by which h individuals and groups obtain what they need and want through creating and exchanging products and value with others
In short marketing is concerned with satisfying customer needs and wants. The ultimate goal of marketing is customer satisfying.
Marketing is said to be eyes and ears of a business organization. This is so because marketing keeps the business in close contact with its economic, political, social and technological environment and informs it of events that can influence its activities as per the requirements of the market.
Marketing is the heart of any business organization. Marketing is the only revenue producing activity for the organization. Peter Ducker said, Because its purpose to create a customer, the business two and only two function marketing and innovation. Marketing and innovation create value, all the rest are costs. Thus, sound marketing is critical to the success of the organization
IMPORTANCE OF MARKETING TO CUSTOMERS
Marketing is very important for customer also. The importance of marketing to customers can be seen as under:
Provides quality products:
Marketer undertakes research and development activities.tis helps in improving the quality of products or services. In this way the customer get better quality product or services.
Provides variety of products:
Marketing facilities production and distribution of a wide variety of goods and services for use by the customers. On the basis of information collected from markets the organization provides variety of products and services.
Improves knowledge of customers:
Marketing provides information of various products and services through various media like TV, News Paper etc This improves the knowledge of customers. They become aware of the services and different schemes in advance.
Helps in selection:
Marketing provides variety of products and services to the customers. So they came to know the availability and also get various options to select.
Customer satisfaction
Today the goal of marketing is customer satisfaction. They can buy products and services according to their needs and wants. Marketers realize that organization exist because of customers. Hence they follow value based marketing..
NEED FOR THE STUDY
Customer satisfaction is an important part of business. It helps to increase sales. Customer satisfaction has a very important position in the current world because of the stiff competition in the banking industry. Customers will only go for the place where they get the maximum benefits for what they are spending. Banking industry is now facing stiff competition. So customers will only prefer SBT if they found something more of value than the competitors in the field. For that adequate knowledge about the products and services offered by SBT will be there with the customers. This study examines the level of satisfaction of the customers of SBT