Strategies for maintaining Customer Satisfaction for Improving Business Performance and Profit: an Exploration of Customer Perspectives in the Balance Scorecard
DOI:
https://doi.org/10.30872/jinv.v21i1.3568Keywords:
Customer Satisfaction, Increased profitability, Innovative Loyalty Programs, Personalized Products, Exclusive Collaborations, Excellent Customer ServiceAbstract
Our current study is to examine efforts aimed at maintaining customer satisfaction as a strategy to increase profitability in the context of Management Accounting. Using a literature review approach, this study involves the analysis of a diverse range of relevant literature and empirical studies. Through this investigation, we identified strategies such as Innovative Loyalty Programs, Personalized Product offerings, Exclusive Collaborations, and Exceptional Customer Service. The research methodology relies on an in-depth analysis of related literature and empirical studies, which include unique case studies of companies operating in the field of Management Accounting. This case study requires an in-depth understanding of how the implementation of this strategy affects customer satisfaction and then impacts the profitability of the business. The discussion entails assessing the success of these strategies, describing their beneficial effects on customer retention, positive feedback, and brand image improvement. The implications derived from this study include practical recommendations for companies in the implementation of this strategy wisely, while also underlining the need for further research with an emphasis on the practical application and variability of contextual factors
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