Customer Satisfaction and Loyalty and the Relationship between Them.© BrainMass Inc. brainmass.com October 25, 2018, 3:46 am ad1c9bdddf
Customer Satisfaction and Loyalty and the Relationship between Them
In the construction of a formal research document, there are three distinct components that make up the formal research. They are: a working bibliography, a specific focus, and a general framework. The use of a working bibliography has a primary purpose to show those whom the formal research is for that there are established sources of information to allow for a substantial research project on the given topic. A specific focus in a formal research document is where several questions or hypotheses are established in which an intended answer to support the topic is given. A general framework exists in the formal research with the main purpose of explaining in identifying the topic, reasoning for researching of the topic, as well as explaining the usefulness and relativity in researching the topic.
In the construction of a business proposal the main objective is to convince one party to purchase or approve a service of another party. A business proposal can take many shapes. It can be as simple as an offer from seller to buyer or as complex as a merger proposal between two or more major corporations. A business proposal also takes place in an entrepreneur, individual, or company seeking funds for a business venture. A business proposal typically establishes credibility, solutions, and benefits for the buyer or investor. A business proposal will normally focus on a target audience and include samples or proof of past successes for the investor buyer. In the business proposal, establishing credibility has the purpose of convincing the customer that you have the ability and experience to achieve what your proposal says you can achieve. This can include any awards received for similar ventures or documented proof of previous successes. To the establish solutions, the business proposal must first show and convince the customer of their needs and/or problems. After establishing a need the proposal must then provide detailed explanations on how the presenter can meet these needs and provide a solution. Establishing benefits within the proposal is important because it shows the company or buyer exactly what can be gained or achieved by accepting your proposal. This part of the proposal is also where you would show how your company or your idea is better than that of a competitor. When a proposer provides samples to the customer it lends credibility to your ability to do what your proposal says you can do and gives the customer something tangible and concrete from your proposal.
There are a vast number of differences between formal research and business proposals. As previously stated, formal research proposals are trying to prove something based on an educated guess or theory. Its main purpose is answering a question or solving a problem. A business proposal is simply a solicitation for business. The process steps used in formal research differ than those used in business proposals. Formal research is more abstract and scientific, while the business proposal is executive in nature. A formal research relies heavily on results obtained on the other formal research papers or experiments, while business proposals are focused on competitive comparisons and innovative solutions. Another huge difference between the two are that research proposals are experiments to prove something, while business proposals are solutions to situations, problems, or needs.
Capabilities of a business proposal are to give solutions and suggestions to solve problems or issues for a business. The capability of a formal research proposal is that it lets a problem and/or a hypothesis to be presented and then requires the researcher to research and solve the issue. The capability of a business proposal is to provide a solution while the capability of a formal ...
This Solution will show that formal research solves a problem, while business proposals are used primarily to solicit a company for their business. Also, the relationship between customer satisfaction and customer loyalty are closely related. Throughout extensive research it is found that customers remain loyal to companies that produce satisfaction to the customer on many levels, not just product satisfaction.
Pearson Correlation: Customer Satisfaction and Loyalty
Pearson correlation on hypothesis there is no relationship between customer satisfaction and loyalty.
H1o: There is no relationship between customer satisfaction and loyalty.
H1a: There is a relationship between customer satisfaction and loyalty.