Evaluation of Customers Satisfaction of General Electronic Company (Marketing by Gulf Refrigeration Engineering).
Chapter One
1.1 Introduction:
This report will give us a clear picture about the customers’ satisfaction in general electronic & specially the activities of Gulf Refrigeration Engineering. The scope of the study is limited to organizational set up, functions, & performance. The scopes of this study are:
• Building a good relation with management and employee.
• Improving an effective work station design.
• Effective marketing layout designing.
• Way of satisfying customer.
• Handling & setting the employees according to their work.
• Ensuring the link in effective manner.
1.2 Methodology of the Study
The methodology showes the way to organize the ideas & views to conduct a study. Proper working procedure helps to gather the right things during study periods & finally fulfills the objective of the study.
Generally a method involves a technique in which various stages of collecting data or information are interpreted. So, adoption of methodology is an important step in performing any study.
In this study a methodology is followed for the achievement & successful accomplishment of the dissertation work.
Relevant data from reliable sources have used while preparing the report. Both primary & secondary data have used where necessary.
Primary sources of data
? Face to Face convention with the customers.
? Interview with the customers’ with questionnaire survey.
? Interview with the employee.
Secondary sources: Secondary information was collected from these sources.
Ø Brochure of Gulf Refrigeration Engineering
Ø Company’s internal file
Ø Internet
Ø Newspaper
Ø From loyal customer
Chapter Two
Profile of the Organization
2.1 Introduction of Gulf Refrigeration Engineering
Gulf Refrigeration Engineering (GRE) is mainly air-conditioning and refrigeration system Implementation Company which has been established year 2009. The main focus of this company is marketing air-conditioner throughout the major cities in Bangladesh.
The company is providing the service of air-conditioning, which is a product of General Electronics Ltd. The Gulf Refrigeration Engineering Company importedthe air-conditioner from the General electronics company, and directly marketing this product in Bangladeshi market.
We have 25 staffs of different post. These are 12 sales personnel engaged in different location of this country to expedite the marketing. There are 10 technicians who are doing installation and service.
Gulf Refrigeration Engineering has been concentrating on developing a comprehensive edge in branding, product techniques, services and quality.
We have been gradually expanding, from residential air conditioners to commercials ones, from air conditioners to refrigerators, and from the local market to overseas. We are a market leaders, with the philosophy of “Best technology and services for the consumers”, attaching great importance to international technical cooperation and communication. We are enhancing our R&D capability with the implementation of various modern and cutting-edge technologies. We are also making efforts to adopt international management practices, with the establishment of a systematic human resource system, in addition to the application of high quality information management techniques (IMT).
Looking into the future, Gulf Refrigeration Engineering will continue to uphold the business philosophy of “creating a better life for humans”, dedicated to making further innovations sustainable development for the enterprise.
2.2 Mission & vision Gulf Refrigeration Engineering
The company’s Mission statement is to be provided qualityful air-conditioner in every house at a most economic rate and stability in the market.
Visions are providing below:
- To continuous improvement of business processes, brands and products.
- Fast and efficient customer service.
- To find, attract and retain target customers by delivering and communicating superior customer value.
- Maintaining high standard of business ethics.
- Stay market for the long time.
- Gain the ability to lead the better position.
2.3 Objectives of the Company
? To reach the goals of organization in the competitive market.
? Efficiency of the work force by employing their skills & abilities.
? Providing employees with proper standards of job satisfaction.
? Providing the organization with well trained & well motivated employees.
? The objective is to have a clear knowledge of planning, organization, leading &
Controlling aspects of Gulf Refrigeration Engineering
2.4 Functions of Gulf Refrigeration Engineering (GRE)
Gulf Refrigeration Engineering is a medium enterprise engaged in the marketing and services of residential and commercial air-conditioners. It imported the General air-conditioner a product of General electronic company ltd. The main function of this company is to sales and marketing home appliance product like air-conditioners throughout the country. The company also provides service facilities to the valuable customer.
2.5 Location of the Office
Gulf Refrigeration Engineering 42A/2, Feroza Tower,(1st Floor) Tikatoly,Hatkhula, Dhaka 1000
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Source: Official Index
2.7 Financial Information
GRE has strong financial condition with strong finance Accounts department with a number of certified professionals. This department is headed by Accounts Manager and for consultancy, if’ necessary, the experts from the corporate finance advice the department. The department comprises two sections- Finance and Accounts. Finance is maintained for sources and uses offunds, and inventory management. In this connection they have to prepare a number of reports necessary to express the inventory position and have to go to the office at least once in a month to inspect the physical position of the inventory and to investigate whether there are anomalies in records and physical existence. Another task of the department is to deal with the long-term loan in paying the installment and interest.
The final result of all the works in the accounts department are the financial statements Balance sheet, Profit and loss account, Cash Flow statement etc. to produce such reports they are doing a lot of works. The department is required to do the same for monthly then quarterly and finally for the year. All the payments are through the Accounts department. It may be for products purchase or salary of the employees or any other expenses. Similarly all the inflows are through the accounts. They have partial responsibility in inventory planning and controlling. Another major responsibility of the department is to prepare the list of the cost of all things for different types of product of the company.
Chapter Three
Literature Review
Yong Tae Bang says, Some of the reasons that customer satisfaction has received a lot of attention can be linked to the increased attention concerning total quality management (TQM) and national quality awards (e.g. Garvin 1991; Heaphy and Gruska 1995; Hayes 1997). When judging candidates for quality awards, customer satisfaction results along with activities and programs concerning customers and markets count for a considerable part of the amount of points (about 20%). As various goods are being imported into Korea especially from China, estimating Korean consumers’ satisfaction for Chinese import goods can be a barometer for deploying marketing strategies to Chinese companies tackling Korean market share.
Wang, Lo, and Yang (2004) says, attempt to conceptualize factors of service quality (tangibility, reliability, responsiveness, assurance and empathy) as antecedents to customers’ overall evaluation of service quality, rather than as dimensions or components of the construct. However, since they focus on China’s mobile communication market, durability and aesthetics may not be relevant. These researchers believe that measuring service quality as disconfirmation (the difference between perceptions and expectations) is valid.
Hansen and Sand (2008) says, drawing on the conceptualizations offered by Selnes (1993) and Fombrun (1996), define image as a perceptual representation of the firm’s overall appeal when compared with other rivals. They argue that both benevolence and image are extrinsic faces of the satisfaction object. They conclude that improving customer satisfaction can be achieved by combining good service quality with communicative messages focusing on the firm’s positive image as well as focusing on the customer’s perception of benevolence signaled by the firm.
Helgesen (2006) says, focuses on the relationships between customer satisfaction, customer loyalty and customer profitability at the individual customer level. The context is the order-handling industry: four Norwegian exporters of fish products and their customers. Variations in customer loyalty explain only about 10 percent of the variations of customer profitability. The relationship seems to be digressive, which indicates that increased customer loyalty has a positive effect on customer profitability, but at a decreasing rate.
Kim (2005) says, integrates and applies the concept of satisfaction from three fields: management information systems (MIS), marketing and e-commerce. Satisfaction affects post-purchase behavior (word-of-mouth, advocacy etc.) and future purchase behavior (repeat purchase). The obvious implication is that satisfaction goes beyond simple satisfaction with the product or purchase outcome; the channel experience also has an impact on overall satisfaction.
Fornell (1992) says, Customer satisfaction can be defined as the overall evaluation of the purchase and consumption experience, which focuses on perceived product or service performance compared with the pre-purchase expectation
Courtney Ramirez says, The importance of customer satisfaction is apparent when you realize that, without customers, you don’t have a business. A single unsatisfied customer can send more business away from your company than 10 satisfied customers. The more you focus on customer retention and customer support, the more long-term business you’ll get. It’s worth it to focus on customer satisfaction strategies, no matter how large or small your company is.
Bitner and Hubbert (1994) says, while satisfaction is a feeling or an attitude after a service has been used, service quality is the customer’s overall impression of the relative inferiority/superiority of the organization and its services
Anderson and Mittal (2000) says, The key to building long-term customer satisfaction and retention and reaping the benefits these efforts can offer is to focus on the development of high quality products and services. Customer satisfaction and retention that are bought through price promotions, rebates, switching barriers, and other such means are unlikely to have the same long-run impact on profitability as when such attitudes and behaviors are won through superior products and services.
Eng. Nurul Islam (2012) says, To evaluate the customers’ satisfactions it is important to understand the Customer Relationship Management (CRM). It is a strategy designed to reduce costs and increase profitability by ensuring customer satisfaction, loyalty, and advocacy. True CRM brings together information from all data sources within an organization to give one, holistic view of each customer in real time. This allows customer facing employees in such areas as sales, customer support, and marketing to make quick yet informed decisions on everything from cross-selling and up selling opportunities to target marketing strategies to competitive positioning tactics.
Molenaar (1995) says, Psychological tests and psychological questionnaires are instruments (e.g., well-chosen sets of items that are administered in a survey) that are assumed to elicit behavior (e.g., the responses of a person to the items administered in the survey) that is representative of the property of interest. The position of the person on the property is inferred from the response behavior of the person
Barsky (1992) says, Customer satisfaction is considered to be one of the most important outcomes of all marketing activities in a market-oriented firm. The obvious need for satisfying the firm’s customer is to expand the business, to gain a higher market share and to acquire repeat and referral business, all of which lead to improved profitability
Cheng Fang Hsu (Shu-Te University), Satisfaction is a comparative process. It is a (dis)confirmation of evaluating perception between expectancy and performance. Customers realize the full value of a company’s offering through satisfied perceptions. Usually online customers take visiting experience in e-commerce as a competitive key to evaluate the degree of customer satisfaction. To earn the customer satisfaction, organizations need to increase value to enhance what they offer to customers rather than try to build their various strategies only on the marketing mixes such as price, product, distribution and promotion. As well, customers purchase on value and their perception of value acts a decisive role in the performance. Most Authors believed customer satisfaction is one of the most critical elements affecting if customers like to have a re-purchase or not. Hence, to achieve the customer satisfaction has become the principal objective organizations’ mission statements. Customer satisfaction supposes customers’ experience through the compared perception between purchase performance and beforehand expectancy, as well (Huber et al., 2000).
Chapter Four
Findings & Analysis
4.1. Findings and Analysis:
To complete a research it has to be applied the methodology. Here we use some questionnaire for the respondents to evaluate the customer’s satisfaction. Fifty (50) respondents were sampled by purposive sampling from the target population of several million and 100%response rate was got for analysis. The questions were developed for customers. Customer’s questionnaire was designed by 17 questions. Each of the questions was made on the elements, which help to identify Customers Satisfaction level.
In this study findings and analysis is showing figure and description by using Quantitative Approach.
4.2 Question no -1:
1. Please mention your gender.
Figure-4.1: Customer Response regarding question 1.
Source: Own creation
Interpretation:-
From the above figure-4.1 showing the result of 60% customer are Male and 40% customers are Female.
Under this question maximum customers are Male but huge numbers of female customers also attend.
4.3 Question no -2:
2. Your Professional Arena:
Figure-4.2: Customer Response regarding question 2.
Source: Own creation
Interpretation:-
From the above figure-4.2 showing the result of 2% customer are Govt. Job holder, 6% customer are Private Job holder, 56% customer are Business man. 4% customer are Banker, 2% customer are Teacher, 12% customer are Army Officer and 18% customers are Others category that include Politician, foreign investor and Living abroad.
Under this question maximum customers are Business man because their income is not limited, so they easily buy the products.
4.4 Question no -3:
3. Age Status:
Figure-4.3: Customer Response regarding question 3.
Source: Own creation
Interpretation:-
From the above figure-4.3 showing the result of 4% customer’s age limit is 25-35, 10% customer’s age limit is 35-45, 60% customer’s age limit is 45-55 and 26% customer’s age limit is 55- above.
Under this question maximum customer’s age limit is 45-55 that means fully maturity level.
4.5 Question no -4:
4. Purchase Patterns:
Figure-4.4: Customer Response regarding question 4.
Source: Own creation
Interpretation:-
From the above figure-4.4 showing the result of 42% customer are new customer or first time customer, and 58% customers are recreate customer.
Under this question maximum customers are recreate customer. Most of the customers are more than three times buying this company’s product and they are very loyal customer.
4.6 Question no -5:
5. Please mention from which sources you have collect information about this company/ company’s product:
Figure-4.5: Customer Response regarding question 5.
Source: Own creation
Interpretation:-
From the above figure-4.5 showing the result of 38% customers are collect information from Newspaper Advertisement , 20% customers are collect information From TV Advertisement, 10% customers are collect information From Friends/Relatives, 12% customers are collect information from Ex-Customer, and 20% customers are collect information from Company’s Stuff.
Under this question maximum customers are collect information from Newspaper Advertisement, TV Advertisement, and Company’s Stuff. First two object is available and common promoting element and satisfied employee also promoting the company’s image.
4.7 Question no -6:
6. Why do you choose this Organization product?
Figure-4.6: Customer Response regarding question 6.
Source: Own creation
Interpretation:-
From the above figure-4.6 showing the result of 55% customers are choose this company for their product quality, 30% customers are choose this company for price, 5% customers are choose this company for commitment, and 5% for commitment and 5% for reliable, brand or any others causes .
Under this question maximum customers are choose this company for company’s product quality and meeting price (General Electronics). Customers mind that huge Brand image and reliability by their greater product quality and better services.
4.8 Question no -7:
7: Do you believe this company fulfills your Expectation?
(If No, please goes to Question-8)
Figure-4.7: Customer Response regarding question 7.
Source: Own creation
Interpretation:-
From the above figure-4.7 showing the result of 68% customers are thinking it can fulfills their expectations and 32% customers are thinking it cannot fulfills their expectations.
Under this question maximum customers are thinking company can fulfills their expectations because they trust company’s’ brand image & reliability, so they believe company must fulfill their expectation by better services. And others express their view next question in which Area Company fails to meet their expectation.
4.9 Question no -8:
8. In which Area Company fails to meet customer’s Expectation?
Figure-4.8: Customer Response regarding question 8.
Source: Own creation
Interpretation:-
From the above figure-4.8 showing the result of 40% customers are thinking the company cannot fulfills their expectations for quality, 30% customers are thinking company cannot fulfills their expectations for Standards of price, 5% customers are thinking company cannot meet their expectation for timely delivery and 7% think others reasons.
4.10 Question no -9:
9. Did you get any complain about this company?
(If Yes, Please go to Question -10)
Figure-4.9: Customer Response regarding question 9.
Source: Own creation
Interpretation:-
From the above figure-4.9 showing the result of 78% customers are not get any complain about this company to any sources and 22% customers are get some complain about this company to several sources.
Under this question maximum customers are not get any complain about this company to any sources because the company is too much branding & reliable company in this country, and others express their view next question in which area they got those complain.
4.11 Question no -10:
10. Please mention from which sources you get that complain:
Figure-4.10: Customer Response regarding question 10.
Source: Own creation
Interpretation:-
From the above figure-4.10 showing the result of 16% customers are get complain about this company from company’s Ex-customers and 72% customers are get complain about this company from News paper, 12% customers are get complain about this company from others sources and nobody get complain from company’s stuffs.
Under this question maximum customers are get complain about this company from newspaper where some report published against this company and somebody get complain from Ex-customers those have previous negative experience and other sources included TV show, Magazine etc.
4.12 Question no -11:
11. What is your opinion about the pricing Policy of This Company?
Figure-4.11: Customer Response regarding question 11.
Source: Own creation
Interpretation:-
From the above figure-4.11 showing the result of 38% customers are thinking GRE’s Pricing policy is too much high ,8% customers are thinking GRE Pricing policy is Tolerable , 42% customers are thinking Pricing policy is justified and 12% customers are thinking GRE’s Pricing policy is very Cheap.
Under this question maximum customers are thinking GRE’s pricing policy is moderately justified because they offered better location and lots of feature with moderate cost.
4.13 Question no -12:
12. Do you think Management is committed to improve Customer service?
Figure-4.12: Customer Response regarding question 12.
Source: Own creation
Interpretation:-
From the above figure-4.12 showing the result of 96% customers are thinking the company always committed to improve Customer service and 4% customers are thinking the company is not committed to improve Customer service.
Under this question maximum customers are thinking the company committed to improve Customer service because GRE always offer new feature, introducing new project with new location and more new services.
4.14 Question no -13:
13. Would you like to claim if the company fail to fulfill your demand?
Figure-4.13: Customer Response regarding question 13.
Source: Own creation
Interpretation:-
From the above figure-4.13 showing the result of 68% customers are thinking they like to claim if the company fail to fulfill the demand and 32% customers are thinking they are not like to claim if the company fail to fulfill the demand.
Under this question maximum customers are thinking they like to claim if the company fails to fulfill the demand because they have right to do it and that is more benefited if they fulfill the demand.
4.15 Question no -14:
14. Please mention your experience about the behavior of this Organization’s Management/Employees/Stuffs:
Figure-4.14: Customer Response regarding question 14.
Source: Own creation
Interpretation:-
From the above figure-4.14 showing the result of 20% customers are thinking the behavior of this Organization’s Management/Employees/Stuffs is Excellent, 32% customers are thinking the behavior of this Organization’s Management/Employees/Stuffs is very good, 44% customers are thinking the behavior of this Organization’s Management/Employees/Stuffs is good, 10% customers are thinking the behavior of this Organization’s Management/Employees/Stuffs is average, 4% customers are thinking the behavior of this Organization’s Management/Employees/Stuffs is bad and nobody think the behavior of this Organization’s Management/Employees/Stuffs is very bad.
Under this question maximum customers are thinking the behavior of this Organization’s Management/Employees/Stuffs is moderately very good for providing their better services and too much helpfulness.
4.16 Question no -15:
15. What is your range of your Satisfaction level overall activities of the Company?
Figure-4.15: Customer Response regarding question 15.
Source: Own creation
Interpretation:-
From the above figure-4.15 showing the result of 48% customers are very satisfied, 46% customers are moderately satisfied, 6% customers are not satisfied and nobody strongly dissatisfied.
Under this question maximum customers are moderately very satisfied overall activities of the Company. The company proved their best quality and they achieve high customer satisfaction level.
4.17 Question no -16:
16. Do you like to buy again this Company’s products/Services?
Figure-4.16: Customer Response regarding question 16.
Source: Own creation
Interpretation:-
From the above figure-4.16 showing the result of 88% customers are like to buy again this Company’s products/Services and 12% customers are not like to buy again this Company’s products/Services.
Under this question maximum customers are like to buy again this Company’s products/Services because their highly satisfied on previous experience.
4.18 Question no-17:
27. Do you have any Suggestions for this Organization?
Figure-4.17: Customer Response regarding question 17.
Source: Own creation
Interpretation:-
From the above figure-4.17 showing the result of 62% customers are like to suggest for this Organization and 38% customers are not like to give any Suggestions for this Organization.
Under this question maximum customers are like to given Suggestions for this Organization. That’s are Timely delivery, lower cost, adding more feature, services more improve, increase employee/stuff, creating new service care points and etc.
Finally, this survey is showing that GRE’s customer satisfaction level moderately high but they have some limitations & somewhere little leakage.
The management needs to activate action for overcome those limitations & leakage for providing better services.
4.19 Findings of the Study:
The findings of the study are as follows:
- The capital requirement of Gulf Refrigeration Engineering is not available that’s why it can’t increase the market share.
- Lack of available human resources in Gulf Refrigeration Engineering, for this reason it cannot provide the actual services to the customers timely.
- Lack of efficient technician in Gulf Refrigeration Engineering that’s why the customers cannot get proper service.
- Lack of proper marketing knowledge and application, so it cannot take the proper promotional steps.
- No long term advertisement policy in Gulf Refrigeration Engineering, for this reason the customers are not concern about the new products.
- Training and development procedures of Human Resource of Gulf Refrigeration Engineering is not modernized and regulated that’s why the employees are not attentive to their duty.
- Lack of available offices and storages in the countryside, due to this fact the customers are faces some problems to get the services.
- The shortage of well trained technician Gulf Refrigeration Engineering has great lacking to provide the after sale service in just time.
- Lack of available information about customers’ choice and what actually customers want to get, for the fact Gulf Refrigeration Engineering don’t understand the customers’ demand.
- The Gulf Refrigeration Engineering has no online base services, so that the customers can’t get quick services.
Chapter Five
Conclusion & Recommendations
5.1 Conclusion
This study mainly Evaluation of Customers’ Satisfactions of General Electronic Company, the product is General air-conditioner which is marketing by Gulf Refrigeration Engineering. The researcher tries to identify the overall Customers’ Satisfaction Level. A structured questionnaire was developed for collecting the information by personal interview. The results of the Survey showed that customers are moderately very satisfied but some where the GRE has some limitation to providing better service to the customers.
5.2 Recommendations
It is too much difficult to give suggestion to improve the marketing strategy of GRE. As we know that nothing is perfect, there is always a room for improvement, so I have found during my internship can be made up taking into account the following suggestions:
- The Gulf Refrigeration Engineering should enrich its capital to rapidly increase its market shares.
- The Gulf Refrigeration Engineering should increase its human resources to provide the actual services to the customers timely.
- The efficient technicians should be available in Gulf Refrigeration Engineering to give proper customer services.
- To increase promotional activities The Gulf Refrigeration Engineering should gather proper marketing knowledge and apply its applications.
- The Gulf Refrigeration Engineering should take long term advertisement policy to concern the customers about the new products.
- To make the employees attentive to their duty Gulf Refrigeration Engineering should be modernized and regulated its training and development procedures of Human Resource.
- There should have available offices and storages in the countryside in order to reduce the problems of getting services of customers.
- There should be enough well trained technicians in The Gulf Refrigeration Engineering to provide the after sale services just time.
- Study of customers’ evaluation is necessary to know about the customer’s choice.
- In order to give quick services to the customers The Gulf Refrigeration Engineering should start online base services.
References
Books
Ø Kotler ,P. “Marketing Management” (11th) edition, Hall of North America
Ø Malhotra, N.K, & Birks, D.F. “Marketing Research- an Applied Approach” (2007), (3rd edition)
Ø Malhotra, N.K, “Marketing Research- an Applied Orientation” (2009), New Delhi: Prentice-Hall of India (5th edition)
Ø Del I. Hawkins, Rofer J. Best, Kenneth A. Coney, “Consumer Behavior” (2007), 8th Edition, IRWIN
Ø Kotler P, Armstrong G “Principles of Marketing”, (2010), 13th Edition, Prentice- Hall New Jersey USA.
Ø Bitner, M, & Hubbert, A. “Encounter satisfaction versus overall satisfaction
versus quality” (1994). In R. Rust, & R. Oliver (Eds.), Service quality: New dimensions in theory and practice. London: Sage.
Ø Fombrun, C “Reputation: Realizing value from corporate image” (1996). Boston: Harvard University Press.
Ø Articles from Different Journal.
Ø Prospectus of GRE.
Abbreviations
| GRE | Gulf Refrigeration Engineering. |
| GEC | General Electronics company. |
| BIU | Bangladesh Islami University. |
| MIS | Management Information System. |
| BBA | Bachelor of Business Administration. |
| TQM | Total Quality Management. |
| IMT | Information Management techniques. |
| CRM | Customer Relationship Management. |