Satisfied Customer Importance

There are no two opinions on the importance of customers for any organization. Customers are a key to success for any organization. Organizations go great distances to create customers and then to retain them as long as possible. Satisfied customers become loyal customers thereby generating lifetime value (a total sum of series of purchases that a customer is expected to make from a business over its lifetime) for the business organizations. Both theoretical as well practical studies have revealed that customer retention and relationship maintenance exert positive impact on organizational performance (Dovaliene, Gadeikiene and Piligrimmiene, 2007). A satisfied customer is a positive advertisement for the products and services of an organization,

Too much tilt towards either of two may lead to worse effects on organizational performance. Success of organizations very heavily depends on seeking the right balance between the two. Therefore, this study can be very important for managers in the proposed Banking Sector, who have to play a mediating role between ever-and-extra demanding customers and employees who often feels themselves as over-worked, disrespected and deprived of work-life balance. The results are likely to have significant bearing on the management practices in the Banking and other Sectors, because if it is proved and generalized that employee satisfaction is necessary to accomplish customer satisfaction, which in turn results in higher organizational performance, the management practices would then need to be employees-oriented to achieve employee satisfaction in order to attain higher customer satisfaction and better organizational performance. That will be a paradigm shift that will take employee motivation and satisfaction to centre of organizational strategic planning in Banking and other Sectors of

It is lifeblood for any organization. Organizations spend heavily in these modern times to utilize latest technology for Customer Relationship Management. It includes creating, retaining and increasing the number of customers of the organizations. If an organization’s products’ performance falls short of customer’s expectations, the customer will be dissatisfied. If that performance matches customer’s expectations, the customer will be satisfied. And if it exceeds customer’s expectations, the customer will be in a more desirable state of delight. (Kotler, Armstrong, Agnihotri and Ehsan-ul-Haq, 2010). Word-of-mouth of a satisfied customer brings positive impact on organizations and attracts new customers, where word-of-moth from a dissatisfied customer works the other way. (Fornell, 1992). Customer satisfaction leaves a long-term impact on financial performance of an organization (Nagar and Rajan,