Factors affecting customer satisfaction on products of hong lam joint stock company

NATIONAL ECONOMICS UNIVERSITY BUSINESS SCHOOL *** FACTORS AFFECTING CUSTOMER SATISFACTION ON PRODUCTS OF HONG LAM JOINT STOCK COMPANY Bachelor of Business Administration in English (E BBA) Thesis Full[.]

NATIONAL ECONOMICS UNIVERSITY BUSINESS SCHOOL -*** - FACTORS AFFECTING CUSTOMER SATISFACTION ON PRODUCTS OF HONG LAM JOINT STOCK COMPANY Bachelor of Business Administration in English (E-BBA) Thesis   Full-name : Tran Thi Ngoc Anh   Class : E-BBA 7A               Supervisor : MA Nguyen Thi Thu Trang     Hanoi, 2019 ACKNOWLEDGEMENT In this first part, I want to give the most sincere and most profound thanks to Ms Nguyen Thu Trang, who dedicated her guidance to this essay Despite her busy work, she always enthusiastically edited lessons, specific instructions for each person, gave sincere advice as well as encouraged her encouragement during the process of completing the thesis Perhaps, this essay will be difficult to complete without much guidance and encouragement from her Secondly, I want to express my gratitude and appreciation to those who have spent all their time and effort to help me to complete this graduation thesis Thank you for your family and always support you for me Thank for EBBA friends who have always helped and beside me, making my college life more wonderful than ever Furthermore, I would like to thank the teachers from the BSNEU who have always been enthusiastic to teach and support us throughout our university life Once again, I want to send my most sincere thanks to everyone Hanoi, 2019 Tran Thi Ngoc Anh TABLE OF CONTENTS ACKNOWLEDGEMENT ABRREVIATIONS LIST OF FIGURES LIST OF TABLES INTRODUCTION 1.1.Rationale 1.2.Scope of the research .10 1.3.Research Objectives .11 1.4 Research questions .11 1.5.Research Methodology 11 1.5.1.Research process 11 1.5.2.Data collection 13 1.5.3.Data analysis 14 1.6 Research structure 16 CHAP 2: THEORETICAL FRAMEWORK OF CUSTOMER SATISFACTION 17 2.1 Overview about Customer Satisfaction 17 2.1.1 Concept of customer satisfaction 17 2.1.2 The significance of consumer satisfaction 19 2.2 Models to analyze customer satisfaction .21 2.2.1 American Customer Satisfaction Index (ACSI) 22 2.2.2 Research model of Zeithaml and Bitner 23 2.2.3 European Customer Satisfaction Index (ECSI) 24 2.2.4 “The effects of marketing mix on consumer satisfaction” Selim Ahmed & Md Hbibur Rahman, 2015 .26 2.2.5 Research model “Evaluating Customer Satisfaction For Red Sai Gon Beer Products In Ninh Kieu District Can Tho” (Tran Thi Bich Lien, 2014) 27 2.3 Proposed research framework to measure the factors influencing on customer satisfaction about product in Hong Lam joint-stock company .28 2.3.1.Product Quality 29 2.3.2.Brand 31 2.3.3.Marketing – Promotion 32 2.3.4.Distribution 33 2.3.5.Price 33 CHAP 3: CURRENT SITUATION OF CUSTOMER SATISFACTION TOWARDS PRODUCTS OF HONG LAM JSC .35 3.1 Overview of Hong Lam joint-stock Company .35 3.1.1 History .35 3.1.2 Mission and vision 39 3.1.3 Key business fields 40 3.1.4 Organizational culture .40 3.1.5 Organizational structure 42 3.2 Analyzing found factors which affect customer satisfaction in Hong Lam jointstock company 42 3.2.1 Respondent profile 42 3.2.2 Data testing 47 3.2.3 Customer evaluation on dimensions .55 3.2.4 Linear Regression 61 3.3 Summary findings 64 3.3.1 Achievements 64 3.3.2 Shortcomings 65 CHAPTER 4: RECOMMENDATIONS TO IMPROVE CUSTOMER SATISFACTION OF HONG LAM’S PRODUCT .67 4.1 Long-term development orientation .67 4.2 Recommendation 68 4.2.1 Boosting Promotion 68 4.2.2 Improving product quality 69 4.2.3 Keeping Distribution Channel 70 4.2.4 Maintaining Suitable Product Price 71 4.2.5 Developing Branding 72 CONCLUSION 73 REFERENCES 74 APPENDIX .75 ABRREVIATIONS  JSC: Joint-stock Company  KMO: Kaiser-Meyer-Olkin-Measurement  PQ: Product Quality  MP: Marketing-Promotion  PE: Price  DT: Distribution  BR: Brand  EFA: Exploratory factor analysis LIST OF FIGURES Figure Research process .10 Figure American Customer Satisfaction Index model 20 Figure The Zeithaml and Bitner’s model 21 Figure European model of customer satisfaction index model 22 Figure The Selim Ahmed & Md Hbibur Rahman’s model 24 Figure The Tran Thi Bich Lien's model .25 Figure The research model applied for Hong Lam company .27 Figure Hong Lam JSC’s structure 40 Figure Customer's age 41 Figure 10 Customer’s occupation 42 Figure 11 Customer’s gender 43 Figure 12 Customer’s Income 44 LIST OF TABLES Table KMO and Barlett’s test .45 Table Reliability test for dimension Product Quality 46 Table Reliability test for dimension Marketing – Promotion .47 Table Reliability test for dimension Brand 48 Table Reliability test for dimension Brand 49 Table Reliability test for dimension Price 50 Table Reliability test for dimension Price 51 Table Reliability test for dimension Distribution 52 Table Mean of Product Quality Rating 53 Table 10 Mean of Marketing – Promotion Rating 54 Table 11 Mean of Brand Rating 55 Table 12 Mean of Price Rating 56 Table 13 Mean of Distribution Rating .57 Table 14 Mean of Customer Satisfaction Rating 58 Table 15 Regression 59 Table 16 ANOVA of regression analysis 60 Table 17 Coefficients of regression analysis 60 INTRODUCTION 1.1.Rationale In the era of the modern economy, the retail and FMCG industry are gaining high market share, especially in large urban areas The birth of many companies in different size and type will create a perfectly competitive market for all businesses Therefore, the importance of each company to occupy market share is to understand customer psychology and take a customer-centric approach Customer satisfaction is a value measurement of any product or service Especially, when the society grows, competition among industry rivals is growing, alternative products are no longer lacking, grasping the psychological customers and satisfying their needs is very important for the development of any business Thus, it is necessary for firms to research in order to obtain consumer satisfaction with products and services Customer satisfaction is the knowledge of customers about a product or service that represents subjective judgments or opinions It's a kind of personal feeling after satisfying the customer's needs Customer satisfaction is determined by experience, especially knowledge about the product or service After the purchase and use of the product, customers have a comparison of reality and expectations that can be used to assess their satisfaction or dissatisfaction Customer value creates satisfaction - the level of customer satisfaction Enterprises need to measure the level of their customer satisfaction and even their direct competitors by doing the surveys or imitating shoppers The information about the decrease in the level of customer satisfaction of the business against its opponent is a warning signal about the loss of customers, the reduction of the market shares in the future Setting up information channels for customers to submit comments or complaints is essential However, the fee level cannot be used as a measure of customer satisfaction, as most customers will not complain if they are not satisfied The most important is to choose the appropriate method and measure, as this has the best effect For example, time-based metrics and scale metrics are more appropriate than others for improvement programs that measure customer satisfaction and screening customer perceptions The Hong Lam brand was born from a family workshop and, after nearly twenty years of growth and development, Hong Lam is proud to be a pioneer in the processing of “ô mai”, jam and fruit In Vietnam The year 2000 marked a major shift in the company's strategy when Hong Lam opened its first retail store at 11 Hang Duong In 2012, Hong Lam blew up its network of stores in Hanoi and the major northern cities To date, Hong Lam has a chain of 25 stores and more than 40 stores in shopping centers across the country Every year, Hong Lam serves 3.5 to million weekly and international retail customers, Hong Lam's products still meet criteria: "Delicious - Clean - Nice - Thoughtful - Friendly" The brand has received the love and trust of many customers Currently, the company has invested more in modern and more professional production lines Also, the management of the company is well aware that the quality of the products and the quality of the service at the most reasonable cost are the decisive factors for the survival of a company Moreover, especially in the current competitive economic situation, as more and more companies produce similar items at competitive prices, customer satisfaction with the products of many aspects are more necessary than ever Product quality assessment, product prices, product diversity, the basis of the theoretical and general bases of Hong Lam, while offering solutions to improve quality and productivity promote the inherent good values Capturing the necessity of the problem, the research topic "Factors affecting customer satisfaction on products of Hong Lam joint stock company" is carried out to have an objective view and the science of customer satisfaction with the stores of the "ô mai" Hong Lam and based on that proposed solutions to improve the store quality to meet the daily needs of customers of Hong Lam Joint-Stock Company 1.2.Scope of the research 10 ... measure satisfaction of customers toward the Hong Lam? ??s products - Evaluating customer satisfaction with products of Hong Lam Joint Stock Company - Proposing some solutions or recommendations to... satisfaction on products of Hong Lam joint stock company" is carried out to have an objective view and the science of customer satisfaction with the stores of the "ô mai" Hong Lam and based on. .. situation of Customer Satisfaction towards product of Hong Lam Chapter 4: Recommendations to improve customer satisfaction of Hong Lam? ??s product 17 CHAP 2: THEORETICAL FRAMEWORK OF CUSTOMER SATISFACTION