Impact of quality on improvement of business performance and customer satisfaction

Abstract

In an immense market struggle, the only effective way to build a long-term competitive advantage is to provide a high level of quality. Offering quality to the market, the organization creates loyal consumers on the basis of which it achieves its profitability, growth and development. The research presented in this paper is aimed at determination of the impact of quality on improving business performance and customer satisfaction. Correlation analysis confirmed this influence on the basis of obtained statistically significant mutual relations between the analyzed variables. Quality was shown to have an impact on improving the business performance of the organization, primarily on profitability through the improvement of leadership and relationship management. The impact of quality on customer satisfaction was also confirmed, where the engagement of people and the management of mutual relations had the greatest impact on consumer confidence. The research confirmed that the training of employees in terms of quality had a statistically significant impact on improving customer satisfaction, if it is conducted in an efficient manner.

Exploring the Impact of Data Quality on Business Performance in CRM Systems for Home Appliance Business

“…Therefore, related studies are currently being conducted on the discovery, application, and evaluation of big data quality metrics in various domains. It is very important not only to consider how universally the quality of customer data can be expressed and managed, but also to define and evaluate quality from the viewpoint of minimizing the loss of the company through maximizing the business utility of CRM [2]. In this section, we analyze existing studies proposing requirements for data quality metrics.…”

“…One of representative definitions is that "timeliness can be interpreted as the probability that an attribute value is still up-to-date" [21]. And the metric on the level of an attribute value is defined as (2). We use this equation to define the metric for calculating timeliness on the level of attribute values.…”

“…It is a strategic approach by which companies can not only identify and attract new customers, but also strengthen and manage relationships with them with a view to sustainable company growth [1]. CRM data supports important marketing tasks such as customer segmentation, consumption forecasting, promotion management, and delivery of marketing materials [2]. It is the basis for popular marketing techniques such as customer segmentation, customer lifetime value (CLV) estimation, and RFM (Recency, Frequency, and Monetary) analysis to evaluate customer equity.…”

“…Understanding customer equity based on this customer lifetime value can help optimize the balance of investments in customer acquisition and retention. In other words, CRM activities have a significant correlation with Business Performance Index and Customer Satisfaction Index [2,3].…”

The impact of quality improvement on the innovative operation of SMEs

“…Na osnovu ovih principa ocenjen je menadžment sistema kvaliteta malih i srednjih preduzeća. Varijable unapređenja kvaliteta pokazale su uticaj na unapređenje poslovnih performansi organizacija (Cvjetković et al, 2021). Ovim istraživanjem ispitan je uticaj varijabli unapređenja kvaliteta na inovativnost preduzeća.…”