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MBA Marketing Project Report Customer Satisfaction towards HCL Technologies Ltd.
Project Report Customer Satisfaction towards HCL Technologies Ltd.
Project Report Customer Satisfaction :
Customer satisfaction is one of the main objectives of any organization. Every organization tries to know the customer satisfaction about their products. So a study on customer satisfaction helps the organization as well as me to gain a vast knowledge over the real world tastes and preferences of customer
Whether the buyer is satisfied after purchase depends on the offers performance in relation to the buyer’s expectations. In general satisfaction is a person’s feelings of pleasure or disappointment resulting from comparing a products perceived performance in relation to his or her expectations.
As this definition makes clear, satisfaction is a function of perceived performance and expectations. If the performance falls short of expectations, the customer is dissatisfied. If the performance matches the expectations, the customer is satisfied. If the performance exceeds expectations, the customer is highly satisfied or delighted. 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 bond with the brand, not just a rational preference. The result is high customer loyalty. Xerox’s senior management believes that a very satisfied or delighted customer is worth 10 times as much to the company as a satisfied customer. A very satisfied customer is likely to stay with Xerox many more years and buy more than a satisfied customer will.
How do buyers form their expectations? From past buying experience, friends and associates advice and marketers and competitors information and promises. If marketers raise expectations too high, the buyer is likely to be disappointed, For example, Holiday Inn ran a campaign a few years ago called ‘No Surprises’ Yet hotel guests still encountered a host of problems, and Holiday Inn had to withdraw the campaign. However, if the company sets expectations too low, it won’t attract enough buyers (although it will satisfy those who do buy).
Some of today’s most successful companies are raising expectations and delivering performances to match. These companies are aiming for TCS- total customer satisfaction. Xerox for example, guarantees ‘total satisfaction’ and will replace at its expense any dissatisfied customer’s equipment within a period of three years after purchase. Cigna advertises “Well never be 100% satisfied until you are, too.” And one of Honda’s ads says: “One reason our customers are so satisfied is that we aren’t.” Nissan invites potential infinity buyers to drop in for a “guest drive” (not a “test drive”) because the Japanese word for customer is “honored guest.” Look at what high satisfaction can do
Saturn In the late 1980s, Saturn (General Motors’ newest car division) changed the whole buyer – seller relationship with a New Deal for car buyers. There would be a fixed price (none of the traditional haggling); a 30-day guarantee or money back; salespeople on salary, not on commission (none of the traditional hard sell). Once a sale is made, the sales staff surrounds the new owner for commemorative photo, with everyone smiling. The company’s fifth anniversary celebration at the Tennessee headquarters was attended by more than 4000 Saturn from all across the country. Said Saturn’s president: “Saturn is more than a car it’s a whole new way of doing things, of working with our customers and with one another.”
A customer’s decision to be loyal or to defect is the sum of many small encounters with the company. Consulting firm Forum Corporation says that in order for all these small encounters to add up to customer loyalty, companies need to create a “branded customer experience”. Here’s how Canadian Pacific Hotels, a chain with 27 properties, did just that.
Assuring Customer Satisfaction:
"Those who enter to buy, support me. Those who come to flatter, please me. Those who complain, teach me how I may please others so that more will come. Only those who hurt me are displeased but do not complain. They refuse me permission to correct my errors and thus improve my service." - Marshall Field.
The attitude of the professional is summed up in this statement. It establishes the customer as the person to whom you are responsible. Customers support you; therefore, they deserve VIP treatment.
When your customers are happy, you are happy. When they complain, you are unhappy, but you examine the complaint calmly and see it as an opportunity to learn as well as satisfy their needs. The quote echoes the fear that customers will not vocalize their dissatisfaction, but instead take their business elsewhere.
There's another quote that's even more important to salespeople and companies immediately upon making a sale--
"The Sale Begins When the Customer Says...Yes."
In the old days, It used to be, "The Sale Begins When the Customer Says...NO," but that's a totally Inappropriate attitude to embrace in today's customer-driven business environment.
Keeping Your Customers Happy
Since your first concern is customer satisfaction you should be aware of some emotional stumbling blocks in your path: selective perception, user error and buyer's remorse.
Selective perception is the process in which a person sees only selected details from the entire picture. This attention to detail is sometimes petty. For example, a customer may have a new copying machine that works like a charm, but he is irritated by the sound of the motor. He focuses only on what is wrong rather than what is right.
This occurs because buyers expect their purchases to be perfect. Regardless of the purchase price, they figure that for what they spent, they deserve perfection. When you encounter someone who practices selective perception, evaluate the situation to determine if the complaint is reasonable or exaggerated.
If it is exaggerated, try to resolve the problem by pointing out benefits and features that compensate. Put the negative detail in a different perspective for your client so that it becomes one small part of the total picture.
Many sales involve the installation of a new system or piece of equipment, and the buyer or their employees must be trained to use it. Their successful use of the equipment depends upon the effectiveness of the training, and it is imperative that the salesperson follows through after the training period to make sure the client uses the purchase properly.
It is not uncommon for people to forget 75 percent of what they hear after two days. This can cause "user error", which will significantly affect the outcome of your test and may prevent your client from reaching his success criteria.
Often a client will be unhappy about a purchase and not realize that it is due to improper operation. The more complex something is, the more training it requires using it properly. In the interest of implementing the product quickly, users may settle for incomplete training or become sloppy in their application of good training. In any case, look for user error whenever a success criterion is not reached.
"Buyer's remorse" refers to the regret that a buyer feels after making a purchase. It could be caused by selective perception, user error, or the client's error. Whatever the reason, the full benefits of the product are not realized.
Buyer's remorse can also be caused by the economics of the purchase: until the benefits prove themselves to be cost effective, a buyer regrets having made the purchase. It is the responsibility of the salesperson to assuage these fears by assuring the client that his investment is wise and sound. Reiterate some of the selling points that convinced him to buy it originally, present data, and put him at ease.
Handling Customer Complaints
Whether your customer's complaint is legitimate or not, follow it up with a service call. Whenever possible, do it personally instead of sending someone from the customer service department. It provides the personal service that your customer appreciates and it may obviate the need for a technician or serviceman to call. As an alternative, both of you can go together to handle customer complaints. Keep the following guidelines in mind:
1. Don't procrastinate making the call.
Often the problem is not as serious as it sounds. Some customers "read the riot act" when they call about a complaint. A delay in responding will only irritate your client more.
2. Admit mistakes and apologize.
Just because you made the sale does not mean you can become defensive about your company, product or service. Even the most reputable companies make mistakes and have problems with their products. You may want to restate the customer's complaint to show that you are listening and have an understanding of the problem.
3. Show compassion for your customer.
Whether the complaint proves to be true or false, show your customer that you are concerned and will investigate the problem immediately. Help the customer calm down by saying, "I can understand why you feel the way you do."
4. Actively listen to your customer's complaint.
Talking will make him feel less anxious about it. Let your customer "vent" his feelings before you react to the situation. Be sympathetic and encourage the customer to "blow up." Afterward, he'll feel better; this means he'll be in a better frame of mind.
5. Don't pass the buck to your company or someone else within it.
This may take the blame off you, but it undermines the integrity and organization of the company, and your customer will lose confidence in your firm.
Maintaining Customer Satisfaction
The philosophy behind maintaining your customers is simple; now that you have them, maintain them. When you consider the amount of time and money invested in them, you cannot afford to lose them. This investment goes beyond your personal expenditures. It also includes your firm's advertising and marketing costs to reach that particular market segment. Your customers, therefore, should be treated as if the life of your business depended on them - which it does!
15 Ways to Keep Your Customer Satisfied
1. Show them that you think of them.
Send them helpful newspaper clippings or articles, cartoons related to their business and "Here's an idea I thought you'd enjoy" notes. Send your clients Christmas/New Year's cards, birthday cards, and thank you notes.
2. Drop by to show them new products and brochures and offer additional services.
Always make an appointment before making your call! Respect your clients' time as you do your own.
3. Offer a sample gift to enhance the use of your product.
See how they are utilizing your product or service and suggest other ways that they can benefit from it. They may not be realizing its full potential.
4. Offer "customer discounts" on new products or services to encourage additional business.
5. When new employees are hired, offer to train them free of charge in the use of your product.
6. Repay or compensate them for lost time or money caused by problems encountered with your product.
If you pinch pennies, your customer may do the same.
7. Be personal.
Record details about your client's life and enter these in your file. It's so much nicer to say to someone, "How is Bob?" rather than, "How's your husband?"
8. Tell the truth.
Lies have a way of coming back to haunt you.
9. Accept returns without batting an eyelash.
In the long run, they are much less expensive than finding a new customer.
10. Be ethical.
Keep all your information about the account confidential.
11. Be certain that your company follows through on its commitment.
This includes delivery, installation, packaging, and so on.
12. Show your appreciation for their referrals by reporting back to them on the outcome.
13. If your company has a newsletter, obtain permission from your successful clients to write about them in it.
Naturally, you would send them a copy.
14. Keep track of their results with your product and meet periodically to review the entire picture (their business, industry, trends, competition, etc.)
15. Keep the lines of communication forever open.
As in any relationship, you must be able to exchange grievances, ideas praises, losses, and victories.
What all of this comes down to is that you should be willing to "go the extra mile" for your accounts. They extra effort you expend now will be repaid handsomely in the future.
The bottom line in maintaining your clients is service, service and more service. Be there for your customers and they'll want to stick with you. If you meet their needs, they'll think twice before switching to another company, even if they've voiced some serious concerns. "Make new clients, but keep the old. One is silver and the other gold." Develop the "gold" you have and the silver may take care of itself. END
Customer satisfaction measurement:
In the final phase of the project, research findings will be used to build a model of customer satisfaction management for each customer segment. Ultimately, QIC will be able to give its members an objective measurement of the industry's quality as perceived by the customer. That overall index will serve as a benchmark on the state of quality for the P/C industry. Members will also be able to use this information to determine which areas of product and service performance have the greatest impact on overall quality, and will be able to target improvement efforts in an informed and efficient manner.
"Voice of the system" preliminary research results
Surveys and in-depth interviews with industry leaders revealed general agreement that the market is in a tumultuous state, with pricing very soft for all but the most catastrophic coverage. As revenue thins, expense concerns rise. Leaders cite inefficiencies in technology and product delivery both within and across firms. Coupled with this internal change, customer demands and expectations for value and service continue to evolve.
The senior managers expressed genuine concern for customer-perceived quality and value, as well as the need to better understand and measure it.
Customer Satisfaction in 7 Steps
It's a well-known fact that no business can exist without customers. In the business of Website design, it's important to work closely with your customers to make sure the site or system you create for them is as close to their requirements as you can manage. Because it's critical that you form a close working relationship with your client, customer service is of vital importance. What follows are a selection of tips that will make your clients feel valued, wanted and loved.
1. Encourage Face-to-Face Dealings
This is the most daunting and downright scary part of interacting with a customer. If you're not used to this sort of thing it can be a pretty nerve-wracking experience. Rest assured, though, it does get easier over time. It's important to meet your customers face to face at least once or even twice during the course of a project.
My experience has shown that a client finds it easier to relate to and work with someone they've actually met in person, rather than a voice on the phone or someone typing into an email or messenger program. When you do meet them, be calm, confident and above all, take time to ask them what they need. I believe that if a potential client spends over half the meeting doing the talking, you're well on your way to a sale.
2. Respond to Messages Promptly & Keep Your Clients Informed
This goes without saying really. We all know how annoying it is to wait days for a response to an email or phone call. It might not always be practical to deal with all customers' queries within the space of a few hours, but at least email or call them back and let them know you've received their message and you'll contact them about it as soon as possible. Even if you're not able to solve a problem right away, let the customer know you're working on it.
A good example of this is my Web host. They've had some trouble with server hardware which has caused a fair bit of downtime lately. At every step along the way I was emailed and told exactly what was going on, why things were going wrong, and how long it would be before they were working again. They also apologies repeatedly, which was nice. Now if they server had just gone down with no explanation I think I'd have been pretty annoyed and may have moved my business elsewhere. But because they took time to keep me informed, it didn't seem so bad, and I at least knew they were doing something about the problems. That to me is a prime example of customer service.
3. Be Friendly and Approachable
A fellow Site Pointer once told me that you can hear a smile through the phone. This is very true. It's very important to be friendly, courteous and to make your clients feel like you're their friend and you're there to help them out. There will be times when you want to beat your clients over the head repeatedly with a blunt object - it happens to all of us. It's vital that you keep a clear head, respond to your clients' wishes as best you can, and at all times remain polite and courteous.
4. Have a Clearly Defined Customer Service Policy
This may not be too important when you're just starting out, but a clearly defined customer service policy is going to save you a lot of time and effort in the long run. If a customer has a problem, what should they do? If the first option doesn't work, then what? Should they contact different people for billing and technical enquiries? If they're not satisfied with any aspect of your customer service, whom should they tell?
There's nothing more annoying for a client than being passed from person to person, or not knowing who to turn to. Making sure they know exactly what to do at each stage of their enquiry should be of utmost importance. So make sure your customer service policy is present on your site -- and anywhere else it may be useful.
5. Attention to Detail (also known as 'The Little Niceties')
Have you ever received a Happy Birthday email or card from a company you were a client of? Have you ever had a personalized sign-up confirmation email for a service that you could tell was typed from scratch? These little niceties can be time consuming and aren't always cost effective, but remember to do them.
Even if it's as small as sending a Happy Holidays email to all your customers, it's something. It shows you care; it shows there are real people on the other end of that screen or telephone; and most importantly, it makes the customer feel welcomed, wanted and valued.
6. Anticipate Your Client's Needs & Go Out Of Your Way to Help Them Out
Sometimes this is easier said than done! However, achieving this supreme level of understanding with your clients will do wonders for your working relationship.
Take this as an example: you're working on the front-end for your client's exciting new ecommerce endeavor. You have all the images, originals and files backed up on your desktop computer and the site is going really well. During a meeting with your client he/she happens to mention a hard-copy brochure their internal marketing people are developing. As if by magic, a couple of weeks later a CD-ROM arrives on their doorstep complete with high-resolution versions of all the images you've used on the site. A note accompanies it, which reads:
"Hi, you mentioned a hard-copy brochure you were working on and I wanted to provide you with large-scale copies of the graphics I've used on the site. Hopefully you'll be able to make use of some in your brochure."
Your client is heartily impressed, and remarks to his colleagues and friends how very helpful and considerate his Web designers are. Meanwhile, in your office, you lay back in your chair drinking your 7th cup of coffee that morning, safe in the knowledge this happy customer will send several referrals your way.
7. Honor Your Promises
It's possible this is the most important point in this article. The simple message: when you promise something, deliver. The most common example here is project delivery dates.
Clients don't like to be disappointed. Sometimes, something may not get done, or you might miss a deadline through no fault of your own. Projects can be late, technology can fail and sub-contractors don't always deliver on time. In this case a quick apology and assurance it'll be ready ASAP wouldn't go amiss.
Objectives of the Study
To study about the satisfaction of the Customers of HCL Technologies Limited.
Need for the Study
The need for the study of HCL Technologies Ltd. taken place of consumer perception will help the organization in determining their products as well as promotion programs.
The project work is concerned with the study of market potential of HCL Technologies Limited.
It is obvious that the HCL Technologies Limited, products are used in various places with in the country. The various features established for the Products are more important.
The Products are used in various places viz. Industries, State Electricity Boards, Railways etc. Majority of the HCL Technologies Products are exported to various states in the country.
Marketing research takes very vital role in knowing and understanding customer needs and behaviors. Keeping in view the importance of customer satisfaction in creating and monitoring the potential and present customers. So it made to undertake the study of the industrial profile, especially satisfaction towards Products in various electricity boards.
So the survey deals with this every aspect of finding the reasons for unacceptability of HCL Products. Whether the factors assessed by the management have any influence on its failure and if so to what extent?
Scope of the Study
The scope of the study includes current market potential of Products with special reference to HCL Technologies Limited. The research is useful for the company to take necessary steps for maintaining and improving Products market.
Project Description :
Title : MBA Marketing Project Report on Satisfaction of the Customers of HCL Technologies Limited, Awareness of Products of HCL Technologies, Sales Promotional Activities of HCL, consumer perception, Market Performance, Impact of Brand Advertisement - 70 Pages
This project is our paid category, its cost is Rs. 2499/- only without Synopsis and Rs. 2999/- only with synopsis. If you need this project, mail us at this id : firstname.lastname@example.org or Call me at +91-8398957646.
We will send you a hardcopy with hard binding and a softcopy in CD from courier.