| dc.description.abstract | Purpose: Customer satisfaction plays an important role in determining the success of any business. It is even more so in the industry of fast moving consumer goods where keen competition has escalated the importance of customer satisfaction to certain products to a new height of meaning. In recent years, this trend has become peculiarly prevalent in the formula milk industry where fiercer competition occurred between domestic and foreign manufacturers. This research therefore focuses on investigating those factor that will ultimately determine the level of customer satisfaction from consuming a particular brand of formula milk.
Design/Methodology/Approach: extensive literature review was first conducted in the interest of constructing and garnering relevant theoretical frameworks for further analysis. Upon completion of theoretical construction, a conceptual model will be proposed in order to identify preliminary factors that potentially impact on customer satisfaction. These hypotheses will later be tested against a set of collected data from 400 respondents of which even split is given to respective formula milk brand. Descriptive statistics, reliability test, factor analysis (including EFA and CFA), Two-Way ANOVA, and One-Way ANOVA testing will be applied to analyze and confirm the conceptual model proposed in this research. A mutually exclusive ranking score will be yielded for respective factors in an attempt to identify the significance of those in creating overall satisfaction for customers.
Findings: The research finds that price, quality, branding, and accessibility to product positively impact on customer satisfaction and therefore ultimately influence on their subsequent purchase behaviors. In addition, price and expected value of money are positively correlated to one another. Likewise, accessibility to product and customer satisfaction are also linked to one another.
Practical implications: The research result can be used as a reliable reference for industry practitioners in making relevant adjustments to their overall strategies in the interest of improving customer satisfaction with their products. Better customer satisfaction then translates to better customer retention and better financial rewards for firms.
Keywords: customer satisfactions, factors, formula milk | en_US |
