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satisfaction in busuness Assinnment Help

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satisfaction in busuness Assinnment Help

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Research Methods

Introduction

Satisfaction is a term that shows the fulfilment of individual wishes, expectations, needs, and demands to a higher extent. However, this word plays a very eminent role in the corporate world because a higher satisfaction level shows that the firm is getting succeeded in establishing its positive goodwill in the marketplace (Han and Hyun, 2015). Therefore, this project is going to highlight the impact of satisfaction on the hospitality industry by considering several facts or figures. Hence, the overall report will outline the terms related to customer satisfaction and its influence on the entire sector with the use of articles, journals henceforth.

Research question

To identify the term “satisfaction” in a business context.

To analyse the impact of “satisfaction” on the hospitality sector.

ascertain the role of satisfaction in the growth of the hospitality industry.

Leterature reviw 

This section is going to explain the selected topic with the use of distinct articles, authors' viewpoints, opinions, scholars, and blogs for understanding the hidden facts. The main objective of the literature review is to provide deeper information about the role of satisfaction and its influence on the hospitality sector by considering distinct sources for acquiring corrective data (Mmutle, 2017).

1.Explain the term"satisfaction" in busuness  context

 According to the blog written by Megha Rajeev, Paul Farris has mentioned an appropriate meaning of satisfaction in his book “Marketing Metrics” that it’s all about some users, percentage of overall consumers whose reported experience with an organization, its goods and services exceeded certain satisfaction target. Significantly, Farris's definition has originated from two different implications; initially, it clarifies that the satisfaction of final users is not just an abstract concept as it is essential to put a number on it for better understanding. Secondly, he talked about selected satisfaction objectives in which it depends upon business to define what is the actual meaning of satisfaction goals as these are going to vary from product to product or service to service. On the other hand, the book of Paul also mentioned that the satisfaction of consumers acts as a topmost indicator of customer purchase intentions and loyalty too. On contrary to this, Philip Kotler has also defined the meaning of satisfaction of consumers in a business context; please feeling of an individual or disappointment which comes from product comparison and gained via performance or result against expectations. In numerical terms, customer satisfaction is defined as- Customer satisfaction = f

Consumer satisfaction= perception of user towards received service – expectation of consumer from service.

 Moreover, Richard L Oliver confirms the statement of Philip Kotler and AK Rai from his cognitive theory of expectancy. Furthermore, Oliver breaks the term satisfaction in the context of mental procedures or how users think. With the help of the EDT approach, the mental and cognitive state of an individual before the experience can easily be understood and how it changes during the experience as well as what a user is thinking or feeling afterward means after getting satisfied with a service (Kandampully, Zhang and Bilgihan, 2015).

2.Influence of" satisfaction"on hospitallity industry

According to the viewpoint of Noorliza Zainol, 2016 offering high-quality services and enhancing the satisfaction level of consumer is considered as most indispensable elements which aid in improving the performance of the hospitality industry. It means that knowing about consumer opinion about satisfaction level supports hotelier to determine the significant factors which affect consumer buying and post buying experience from favourable word-of-mouth. On the other hand, Kim, Vogt and Knutson, 2015 states that hospitality is all about maintaining a relationship between a guest and host in which host gain the guest via its goodwill that includes distinct factors such as; reception, standard, hospitality, and entertainment of visitors. Therefore, this shows that satisfaction is a really important factor for the hospitality industry because business is fully dependent upon this factor only and every operation of hospitality is linked with “satisfaction” term only.

Additionally, mention that the foremost objective of every business is just to meet the consumer requirement for attaining a higher range of profit level and this thing is possible via the presence of a higher satisfaction level. It means that user orientation is become a more indispensable factor due to the increment in competition and quality needs. Therefore, most of the author believes that satisfaction is a core element in business growth as it provides numerous benefits to the hospitality industry such as- improve the reputation of hospitality firms, maximize sales volume, minimize marketing expenses, maximize the staff stability, minimize price elasticity and many more. Hence, it has been understood that satisfaction influence the hospitality industry is a highly positive manner by encouraging business towards the corrective path by fulfilling the requirement of end-users.

3.Role of satisfaction in growht of hospitally 

As per Dr. DilPazir, Insha Amin, 2015, consumer satisfaction is considered a k

3ey element for the entire hospitality industry for sustaining their position in a competitive marketplace. Therefore, hospitality providers need to understand their users for suitably designing the best services so that a high range of satisfaction levels can easily be attained by a consumer. However, satisfaction is a sparking concern within the hospitality sector and numerous studies have taken place in this context where several researchers have mentioned their opinions on this emerging subject. Mainly, this element has become the most significant performance indicator for the overall industry because this shows the strength of connectivity between the final consumer and service provider. On the other hand, Chikán, A. (1997) states that fluctuation in the lifestyle of consumers depicts that the hospitality industry needs to shift the things according to existing demand and expectations. From the past few years, there is a high range of development in the hospitality association and its diversification because this industry is having direct communication with final users which is a very prominent one. Thus, the customer has been considered as a centre stage in business management policy for the success of an enterprise because the appropriate approach of consumer retention always supports in ensuring a high level of consumer satisfaction and it aids in producing user loyalty (Jung and Yoon, 2015).

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