Friday, 9 September 2016

Consumer Satisfaction And Retention: A Key Business Survival (Accounting Project)

ABSTRACT
Something that satisfies a customer’s need or want has value in the eyes of the consumer. Whether or not a consumer’s will buy a product offering depends on whether what it cost than is greater or less than the product’s perceived value. Furthermore, when choosing between similar offers, a consumer choose the product that offers the biggest difference between value and cost. Costs to the customer include not only monetary cost, but everything associated to acquiring it, such as time and hassle. For example, having to go and pick up concert ticket you’ve already paid for online add an additional cost. Therefore even if your product is more expensive, it will never the less be chosen if it carries more value in the eyes of the customer.


TABLE OF CONTENTS
Title Page
Certification
Dedication
Acknowledgement
Table of contents

CHAPTER ONE:
Introduction
1.1  Background to the study
1.2  Statement of the problem
1.3  Aim and objective of the study
1.4  Significance of the study
1.5  Scope of the study
1.6  Limitation and constraints to the study
1.7  Definition of the term

CHAPTER TWO
  2.1 Literature review
  2.2 Tools for tracking and measuring consumer satisfaction
  2.3 Deliverance customer value and satisfaction
  2.4 Value chain
  2.5 Value delivering network
  2.6 Attracting and retaining customer
  2.7 Attracting customer
  2.8 Computing the cost of the customer

CHAPTER THREE
  3.1 Research methodology
  3.2 Population and sample size
  3.3 Method of data collection
  3.4 Method of data presentation
  3.5 Method of data analysis

CHAPTER FOUR
  4.1 Historical background of the Berger paint
  4.2  Data presentation, analysis and interpretation
  4.3 Testing hypothesis
  4.4 Discussion of the finding

CHAPTER FIVE
5.1 Summary, recommendation and conclusion
5.2 Summary of the research finding
5.3 Conclusion
5.4 Recommendations



CHAPTER ONE
INTRODUCTION
BACKGROUND TO THE STUDY
It’s difficult to over stress the importance of customer satisfaction. Sustained probability is only possible through building customer value and satisfaction. Point comes as a consequence of building customer value. As Henry Ford said “business must run at a profit… else it will die. But when anyone tries to run a business solely for profit then also the business must die. For it no longer has a reason for existence”.

Value Defined
            Something that satisfies a customer’s need or want has value in the eyes of the consumer. Whether or not a consumer’s will buy a product offering depends on whether what it cost than is greater or less than the product’s perceived value. Furthermore, when choosing between similar offers, a consumer choose the product that offers the biggest difference between value and cost.

Costs to the customer include not only monetary cost, but everything associated to acquiring it, such as time and hassle. For example, having to go and pick up concert ticket you’ve already paid for online add an additional cost. Therefore even if your product is more expensive, it will never the less be chosen if it carries more value in the eyes of the customer.

1.2 STATEMENT OF THE PROBLEM

In the cause of research answer will be provided to the following research question problems

1. Of what quality and quantity would they prefer to buy?

2. Is the price charged on the product not too high enough for them to bear?
3. Is there any welfare package available for the consumer at all?
4. Are company  product readily available to any shortest possible notice from consumer?
5. Are there any positives responses from consumer as to the prospect of business?

The researcher must however bear in mind and proper proficient solution and answer to these numerous question if he is to guarantee himself of success or survival of the business entrusted to him.

1.3 AIM AND OBJECTIVES OF THE STUDY
The aim of this study is to examine consumer satisfaction and retention as key to business survival. To achieve this aim the following objectives shall be pursued.
(i)   To know whether the price charged on the Barge paint product is too high and ambiguous or not.
(ii)   To know if Barger paint product is readily available for the consumer.
(iii)  To ascertain if there is any package available for the consumer/customer who are frequent user of the Berger paint product.
(iv)  To know the quantity and quality rate which the consumer want to buy.


1.4 SIGNIFICANCE OF THE STUDY
The importance of the study is that if broadens the researches knowledge. The topic  chosen s has really increases  or improve the standard of living of the researcher. The study serves as an impetus to participate actively without allaying fears or panic in the field of practice the study being “consumer satisfaction and retention as a key to business survival” plays a dominant role in any business ramification.

The study of this research work is a pre-requisite in partial fulfillment of the requirement for the award of Higher National Diploma in marketing. The research equally creates awareness to the society at large as regards what consumer satisfaction is all about in running of the organization in the research that it helps in solving problems consumer can be valued at a profit. 

1.5 SCOPE OF THE STUDY
The scope of the study is limited to paint industry it is there imperative for the research to carry all necessary enquires and activities within the boundary specified in the study. The scope well also cover the conceptual aspect in terms of user, color, behavior, reaction and modes friend and relative.


The market scope covers Ilorin township to immediate consumer areas the industrial scope will cover all manufactures of paint product. But the case study of the research will be BERGER PAINT NIGERIA LIMITED. the geographical aspect of the scope is going over Ilorin metropolis area directly to the consumer.
      
      The area of interest will be on the number of the sale recorded in the five consecutive (2007-2012)


1.6 LIMITATION AND CONSTRAINT TO THE STUDY

This is varieties of problem faced while carrying out this research work one of this is their contract. There is no adequate time or sufficient time for the research to visit and consult all necessary sales deposit, distributions, and consumer of Berger paint Nigeria Limited, since they are not geographical sited in one region. In view of the limited time available for the final submission of the project work, the research has to limit the researcher finding to Ilorin deport of the company since they offer likely services or operation.
           
 The researcher is also faced with some administration problem from the staff of Berger paint Nigeria limited. The staff were always reluctant to grant interview bring carried out by the research. The solution to this is achieved by re-potentate them and give a land of incentives. As motivation in order to charge their lackadaisical attitude toward the researcher and their customer at large. Consumer satisfaction and retention. A key to business survival.
 
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