Abstract
M.Com. (Business Management)
What really drives business success? Ten, twenty years ago, it would have been somewhat easier to answer this pertinent question. What were seen as central to business success were functional hard core derivatives i.e. operational efficiency, financial discipline and speed to market. Customers, essentially customer experience, were never part of the equation. For those very few organisations that bid to be anything different, the concepts customer experience and customer satisfaction were merely an afterthought. Today the picture is slightly different. Organisations are now applying a contemporary business approach and showing more appreciation for customers. Organisations realise that by creating an environment that is pro—consumer, an environment that achieves and maintains a fair balance between organisational process efficacies and customers’ needs, an environment that harnesses employees productivity and encourages fluid communication passage between the organisation and its customers, they will not only connect with their customers on an emotional level, but they will be able to build a sustainable brand asset and a long-lasting profitable relationships with their customers.
It is for this reason that the four customer experience elements namely: process, people, channel approach and branding were selected as premise for this study. This study tries to understand and establish the influence of customer experience elements on customer satisfaction at the Industrial Development Corporation (IDC). An investigation was conducted on customer experience within a process-centred approach at the IDC. The study was steered in two stages. The first stage focused on exploratory research, and the second stage focused on descriptive research. The sample consisted of 276 customers. In-depth interviews were conducted with customers to assist the researcher in developing the statements in the questionnaire. A self-administered questionnaire was designed based on theoretical literature provided within the study and information gathered through the in-depth interviews. Various statistical analysis procedures were used to achieve the objectives of the study, including factor analysis, rotated factor matrix, Cronbach’s alpha, multiple regression and comparison analysis.