Main Article Content
Abstract
In the present age of liberalization and market economy, the management process needs more apt and appropriate market information to spearhead the marketing operations such as introduction of near products in new markets and also to retain the customer base. Satisfaction is a person’s feelings of pleasure or disappointment resulting from comparing a product’s perceived performance (or outcome) in relation to his or her expectations. If the performance of the product 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 which is delightful. The aim of any organization should be to maximize profit in a long run through satisfying the customer’s wants. The real purpose of business is to create loyal customers. The marketing concept is consumer oriented which integrated marketing aimed at generating customer satisfaction as the key to satisfy the organizational goals. The value of any chance (as the prospect of prize or property), that depends upon some contingent events. Expectations are computed for or against the occurrence of the event. A Customer expectation can pose a major challenge. Satisfied customer is really what we are trying to produce. Unfortunately we confuse customer satisfaction with meeting (or exceeding) their expectations and not honoring our commitments.