Essay About Customer Satisfaction And Customer Switching Intention

Predicting “customer Satisfaction” and “customer Switching Intention” of Telecom Industry in Bangladesh
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[pic 1]MKT470 ProjectSection-05Group-02                                                    Submitted toMahafuz MannanLecturerDepartment of Marketing and International BusinessSchool of Business and EconomicsNorth South UniversitySubmitted byNameIDQuazi Afzalul Haque1310419030Nishat Sultana1320252030Nusrat Islam1311102030Tamzid Haider Khan1110667030Touhiduzzaman Abir1220479030Md. Al-Momin1230460030S.M.Abrar Jahin1330065030Topic: Predicting “customer satisfaction” and “customer switching intention” of telecom industry in BangladeshDate of Submission-20/8/2017Literature review and hypothesisPerceived value (price)From the customers point of view, cost is what is surrendered or yielded to acquire an item. This definition is consistent with (Ahtolas, 1984) contention against including financial cost as a lower level property in multi-trait models since cost is a “give” part of the model, as opposed to a “get” segment. Characterizing cost as a relinquish is predictable with conceptualizations by other estimating scientists (Chapman 1986; Mazumdar 1986; Monroe and Krishnan 1985) According to Kotler and Armstrong (2010) a meaning of cost is the measure of cash charged for an item or benefit, or the entirety of the qualities that clients trade for the advantages of having or utilizing the item or administration. While Stanton, Michael and Bruce (1994) characterized cost as the measure of cash or merchandise expected to gain some blend of another products and its companying administrations.The Monetary perspective generally stipulates that value is generated when less is paid (such as the use of coupons and promotions) for goods (Bishop, 1984). That is to say, it is the concept of consumer surplus in economics; perceived value is the difference between the highest price that consumers are willing to pay for a product or a service and the amount they actually paid. Consumers perceive a price as fair when the outcomes of the related transaction are deemed as reasonable and just (Bolton et al., 2003), and may involve consumers referring to some standard or norm (Xia et al., 2004) Price fairness refers to consumers’ assessments of whether a seller’s price is reasonable, acceptable or justifiable (Xia, 2004; Kukar-Kinney, Xia and Monroe, 2007). Price is usually used as an indicator of product quality, which results in better expectations from the product and determines higher satisfaction. The customers can switch to any other alternate who offers fair prices, which reveals that the consumers can be held on to for a longer tenure by offering them the fair prices. Therefore, customer satisfaction is caused by the fairness of the price (Ali et al. 2010). When one customer pays a higher price compared to other customers, or when a customer receives a lesser product compared to anticipate (quantity or quality) perceived negative price inequity occurs. On the other hand, according to Martins and Monroe (1994) and Beiand Chiao (2006) perceived positive price inequity occurs either from receiving a larger or better product than other customer who paid the same price, or paying a lower price but receiving the same product. Generally people prefer to pay less money, for the products, charging exorbitant price reduces the customer’s motivation to buys the product. Appropriate pricing of services is critical for the profitability and sustainability of a company (Keney, 1997). Pricing is a factor that is able to attract customer, with the decrease in price for products, the demand of the product increases and on the contrary, with increase in price, the demand for products decreases.  Although loyal customers are not sensitive to price changes, implying that loyal customers will still prefer the same brand, even if the price of the branded product increases (Don O’Sullivan, 2000).(Woodruff ,1997, Kollman ,2000;and Mohammed ,2008) studies found that the lower the charges, the more customer consumed and the more customers will commit themselves to the telephone network. Price is used as an indicator of product quality, which results in better expectations from the product and determines higher satisfaction.Technical QualityTechnical quality comes to customer mind from difference of their expectation and the reality they get from it ( Asubonteng et al., 1996; Parasuraman et al., 1985). Technical quality is the services that customers are getting whereas functional quality is, the way through services are offered and it directly effect on customer satisfaction whether this technical quality satisfied customer needs and expectation Parasuraman et al. (1985). Core service quality in term of telecommunication refers to extend to which mobile network provides enable customers for using new offers and service without any interruption (Gerpott et al., 2001; Woo and Fock, 1999). Many researchers have found technological aspects of telecommunication service and its technological quality significantly effect and influence customer satisfaction (Ahn et al., 2006; Gerpott et al., 2001; Keramati and Ardabili, 2011; Kim et al., 2004). The technological infrastructure in Bangladesh of telecommunication site is still developing and day by day introducing new services for customer satisfaction according to the given value.Customer Service   (Cronin and Taylor, 1992; Oliver, 1993; Zeithaml, Berry and Parasuraman, 1993) The definition or value of customer service may vary person to person or there mentality toward service but in really involve determining whether perceived customer service meets, exceed or fails comparing customers expectation. (Christopher, M. Payne,A and  Ballantyne,1991)  defined customer service as not just an issue moreover in the context of the company and relationship with customer but in its up or down steam  relationship with ultimate consumer as well as its would be  up stress relationships with suppliers and even the suppliers supplier.