What Do Customers Expect from Any Product or Services?

CHAPTER – 1

INTRODUCTION

What do customers expect from any product or services? Every customer expects that the particular product should be satisfying him physically and emotionally. It should provide physical safety and mental satisfaction to customer. Customer satisfaction depend on the quality of the product, price, brand image etc. Satisfaction is a customer feeling of pleasure or disappointment resulting from comparing a product's perceived performance in relation to his or her expectations. Thus satisfaction of a function of perceived performance and expectations. If the performance falls short of the expectations the customers is dissatisfied. If the performances match the expectation the customer is satisfied. If the performance exceeds expectations the customer is highly satisfied or delighted. Customers who are just satisfied still find it easy to switch over when a better offer comes along. Those who are highly satisfied are much less ready to switch over to another product. High satisfaction or delight creates an emotional bond with the brand, not just a rational preference. Hence customer satisfaction is the base for sauces of every business.

Customer value is the ratio between what the customers gets and what the customers gives. Therefore it is the ratio between customer's benefits and customer costs. The benefits to the customers include product value, services value personal value and image value. The cost to the customers includes monetary cost; time costs energy costs and physical cost. Many companies are aiming for high satisfaction because customers who are just satisfied still find it easy to switch over 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 brand not just a rational performance. The result is customer loyalty. How do buyers from their expectations? Customer's expectation arises from past buying experiences, friends and associates, advice and market competitor's information and promises. If marketer's expectations are too high, the buyer is likely to be disappointed.

Consumer satisfaction is a business term, is a measure of how products and services supplied by a company meet or surpass customer expectation. It is seen as a key performance indicator within business and a part of the four prospective of balanced score card. In a competitive market place were business compete for customers, customer satisfaction is seen as a key differentiator and increasingly has become a key element of business strategy customer satisfaction derives successful private sector business. High performing business has developed principles and strategies for achieving customer satisfaction. This paper present a frame work or set of ideas for using customer satisfaction principles and strategies to improve the quality responsiveness and possibility of public sector privately provided services in vulnerable communities. Customer satisfaction is a customer responds to the evaluation of the perceived after its consumption.

STATEMENT OF THE PROBLEMS

The current study pertains to understanding the level of satisfaction of customers using Hero MotoCorp two wheelers.

• To estimate the ideal situation with the actual situation.

• To check ideal situation like good service, quality products, mileage of two wheeler.

• To check the actual situation like customer complaints, service capability and price variations of products.

SCOPE OF THE STUDY

The scope of conducting the study is to examine the attitude of peoples towards the preference of the hero products. For this study on the topic brand performance of two wheelers among people was conducted on Kolenchery unit. Seven variants of hero two wheelers are selected to conduct this study.

SIGNIFICANCE OF THE STUDY

A Study on customer satisfaction of hero two wheelers is a significant topic in present scenario. To analysis how MotoCorp is better than other competitors in the market and attaining the conclusions on ‘why customers are more attached to Hero Moto Corp in the present scenario.

OBJECTIVE OF THE STUDY

The important objectives of the study are:-

1. To study the overview of hero two wheelers.

2. To study the level of satisfaction derived by the customer who use Hero Moto Corp, two wheelers.

3. To study the quality of hero products.

4. To check whether the customer satisfaction is increasing or decreasing.

RESEARCH METHODOLOGY

SAMPLE SIZE

For the purpose of the study, select the respondent at convenient samples basis in order to understand the customer satisfaction of hero two wheelers.

The data used for this project were primary data and secondary data

PRIMARY DATA

The primary data was collected with the help of a questionnaire, it consist of questions..

SECONDARY DATA

Secondary data for the study was collected from various sources such as books and internet.

SOURCES OF DATA

Primary data was collected from customers of who are the authorized customer of the company in Kolenchery unit. The sample size was limited to 50 customers by convenient sampling technique. A questionnaire was used to get expert opinion from these customers about the level of satisfaction in using Hero MotoCorp two wheelers.

TOOLS AND TECHNIQUES

Simple statistical tools such as bar charts, line charts, pie diagrams, weighted mean and percentages have been used to interpret data.

LIMITATION OF THE STUDY

• As the work was conducted simultaneously with the regular course of study of the researcher time has been the most important limiting factor.

• Since the entire population of Hero Moto Corp users is so large, the preference revealed by the sample may not be representative of entire population.

• Reliability of the study is depends greatly on the reliability of information provided by the respondent.

• Being