Customer Value and Satisfaction
...cuses on, because higher the customer satisfaction, higher is the customer loyalty and subsequently profit and growth. To develop a balance between customer and profitability is fundamental for a successful organization. If the customersˇ¦ needs are not met profitably, the company cannot survive in the long term. The staff in a organization should be committed to customers and for this they have to well trained and have a attitude to making people happy. Some organizations focus on few customers to deliver extraordinary value, particularly when they are dealing with the worldˇ¦s premiere corporations. For e.g. Abishek Industries in Ludhiana, the flagship company of the Trident group has built an outstanding record for quality, consistency and on-time delivery with WalMart, in turn WalMart has recognized Abishek Industries as the International Supplier of the year 2001. At the core of this recognition is customer perceived quality and value. (Journal of the All India Management Association, July2002) To provide customer satisfaction the following values are created- „« Identifying customer needs. „« Designing and making products to satisfy those needs. „« Communicating information about the product. „« Making the product conveniently available. „« Attaching a price the customer is ready to pay. „« Services, follow up, relation marketing. The success of an organization like Abishek Industries is created ˇV „« By providing superior customer value. „« By tracking the customer value they provide through a me...