A Case Study on Tesco Customers' Satisfaction and Loyalty

Added on - 17 Dec 2019

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BUSINESS RESEARCHPLAN1
EXECUTIVE SUMMARYIn the present investigation, customer satisfaction impact on the sales and profit marginratio in context to Tesco PLC has been evaluated effectively. Study indicates that customerssatisfaction is one of critical aspect which need to be referred effectively from every businessorganization. Success of every organization is also dependent over the key aspect of customersatisfaction. If customer satisfaction within Tesco PLC is not appropriate then overallperformance might get influenced in negative manner. Along with this, profit margin ratio andother key essential elements also get affected in negative manner. Study also reflects that ifcustomer satisfaction is higher, then profitability of company also gets increase. It has beenidentified in the report that satisfaction level can be improved through improved focus on brandloyalty improvement. It is necessary for management to create trust among customers so thatthey feel attracted to purchase products and services. Along with this, the training can also beprovided to employees in order to make sure that skills are improved in order to amend customerservice standards.2
TABLE OF CONTENTBusiness Research Plan........................................................................................................................1EXECUTIVE SUMMARY..................................................................................................................2Table of Content...................................................................................................................................3INTRODUCTION................................................................................................................................4LITERATURE REVIEW.....................................................................................................................4Concept of customer satisfaction.................................................................................................4Significance of customer satisfaction for business growth..........................................................5Factors affecting customer satisfaction in retail sector................................................................6Tools and techniques of customers satisfaction...........................................................................6Ways to enhance customer satisfaction level...............................................................................7AIM AND OBJECTIVES....................................................................................................................8RESEARCH METHODOLOGY.........................................................................................................8Time table...........................................................................................................................................12REFERENCES...................................................................................................................................153
INTRODUCTIONKey topics that were developed during the work includes impact of customer satisfactionon sales and profitability, link between employee motivation and customers satisfaction, etc.Retail sector is having an impressive level of success and they are continuously focused towardsinternationalization. Present study is focused towards customer satisfaction impact on the salesand profit margin ratio of Tesco PLC. In order to have effective success the management need tofocus on customer satisfaction level. It can be considered as one of key reason behind theselection of topic (Oum and Yu, 2012). It has been noticed that one of the key reason behindcarrying out this research is that in the present era, acquiring high degree of customer satisfactionhas become essential for every organization.Key reason behind the selection of organization as a Tesco PLC is that it is one of leadingbusiness firm in the retail sector. It has been noticed that organization is continuously focusedtowards improvement in standards and work process so that level of customer satisfaction can beadvanced. It means the rationale behind the selection of organization is also appropriate as perstandards. In order to gain competitive advantage the business firm require to understand the keyvalues in respect to customer service and satisfaction.LITERATURE REVIEWConcept of customer satisfactionAccording toBeard, 2014,customer satisfaction is very important aspect in order toexpand business and earn the maximum profitability. Every business organization have aim is toearn maximum profitability which is largely depends upon customer satisfaction.Eisenberg,2011, if business organization deliver excellent quality of goofs and services and fulfill allrequirement of customer related to particular product then they will highly satisfy by company'sproduct and services. To support this statement, Schiff, 2015, stated that customer satisfaction isan abstract aspect which involve various factors as the quality of product, the quality of serviceprovided, the atmosphere of the location from goods or services are purchased and the prices ofproduct and services. In the contradictory view, Thau, 2013, stated that customer satisfaction isnot just scope of earning profitability for company but also it is an emotional response by whichpeople feel after making a purchase from organization. If individuals gain sufficient customer4
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