Research studies have established that one dissatisfied customer will spread the bad word regarding the organization by sharing his experience with atleast 10 other customers, thereby leading to attrition in carefully developed business. Customer satisfaction assessment is the key tool to keep a tab on the customer feedback regarding the product/ service under consideration and enables the business to attune their offerings with respect to the customer expectations. Customer satisfaction assessment provides key inputs to improve customer relationship management practices across segments and sub-segments of business and builds long term brand loyalty among customers.
A global leader in agricultural harvesting equipment was witnessing a decline in its market share from 90% to 65% in wake of the competition led largely by several local players and to some extent by national and international majors. MIC conducted the customer satisfaction assessment with end users (farmers/ contractors) in all market geographies and brought to the fore that brand has serious gaps in after sales services, particularly in harvest seasons, leading to the customers switching to competition brands and eroding the market share of the leader. In the aftermath of the study, rigorous customer connect initiatives such as customer workshops through dealer network and putting up service camps in target locations which restored the faith of customers in the brand