Executive Summary

This work is about measuring customer satisfaction with the focus on B-2-B markets. In the first chapters the determinants are explained along with the problem of a not well designed measuring program. The intention of this work is to analyze and describe a thoroughly conducted research on satisfaction of industrial customers. The main chapter is organised according the chronological steps for a common research in that field. Each chapter or research element illustrates a correlation to the specific situation of suppliers in B-2-B markets. Basically, this work suggests planning a survey on customer satisfaction in two major steps: firstly, to explore the expectations and attitudes in a qualitative research, and then, based on the first step, to interview customers on their perceptions concerning how well the firm is meeting those expectations. Before drawing the conclusion of this work, the importance of customer satisfaction for companies competing in saturated markets is investigated.

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Table of Contents

Executive  Summary  2

Table of  Contents  3

List  of abbreviations.  4

List  of figures  5

1.  Introduction  1

1.1  Customer Satisfaction  1

1.2  Business Markets  2

1.3  The Advantages of Satisfying Customers  2

1.4  Risk of a Poorly Conceived Survey  2

2.  Tailoring a Successful Survey.  3

2.1  Exploratory Research  4

2.2  Sampling  6

2.2.1  Survey Objectives  6

2.2.2  Sampling Frame and Segmentation  6

2.2.3  Method of Collecting Data.  7

2.2.4  Design of the Questionnaire.  8

2.3  Analysing and Reporting.  10

3.  Importance of Customer Satisfaction in Saturated Markets  10

4.  Conclusion  11

Appendix 12   

Bibliography.   14

ITM  Checklist - 360 Analysis.  16

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List of abbreviations

B-2-B - Business to Business

B-2-C - Business to Customer

DMU - Decision Making Unit

PR - Public Relation

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List  of figures  

Figure  1: Attributes to consider when designing a successful survey  

Figure  2: Different types of interviews in market research  

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1. Introduction

1.1 Customer Satisfaction

In the 1990s, corporations focused on improving quality to compete effectively in a fast-changing world. By 2000, the spotlight had shifted to globalization as a means of gaining higher profits from sales. Now, in the 21st century, customer satisfaction has taken a focal point, as companies consolidate and concentrate on increasing market share. Listening to and acting on the voice of the customer has become crucial for

companies to survive in saturated markets. 1

Customer satisfaction depends on the product’s perceived performance relative to a buyer’s expectations. If the product’s performance falls short of expectations, the customer is dissatisfied. If the performance matches expectations, the customer is satisfied. If performance exceeds expectations, the customer is highly satisfied or

delighted. 2

Another definition is more descriptive while explaining customer satisfaction as the state of mind that customers have about a company when their expectations have been

met or exceeded over the lifetime of the product or service. ³ Satisfaction itself is related to a number of customer relationship issues. For example, satisfaction can refer to any or all of the following:

• Satisfaction with the quality of a particular product or service

• Satisfaction with an ongoing business relationship

• Satisfaction with the price-performance ratio of a product or service

• Satisfaction because a product/service met or exceeded the customer's expectations

¹ David (2006)

² Kotler, Armstrong (2006), p. 13

³ Cacioppo (2000)

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