Managing Customer Satisfaction and Customer Loyalty in Organizations

Abstract

Companies require managing customer satisfaction and loyalty to achieve growth. The objective of the study is to analyze how companies manage customer satisfaction and loyalty. The methodology adopted is a conceptual analysis of the various aspects of management of customer satisfaction and loyalty in companies. Companies require appreciating the importance of product and service qualities as drivers of customer satisfaction. They should keep track of customer satisfaction levels through effective measures. They require building customer loyalty through various strategies viz. close interactions with customers and development of loyalty programs and brand communities. They should adopt effective initiatives for managing customer satisfaction and loyalty. Academics may suggest better practices for managing and measuring customer satisfaction and loyalty. Practicing managers may adopt the best practices which will enable them to have effective management of customer satisfaction and loyalty and effective measures of customer satisfaction levels and achieve business excellence.