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Measuring and Developing Customer Satisfaction with the Balanced Critical Factor Index Method

Author

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  • Mika Kuronen

    (University of Vaasa, Finland)

  • Josu Takala

    (University of Vaasa, Finland)

Abstract

This short analysis presents perspective and a holistic method for approaching and measuring customer satisfaction. The Balanced Critical Factor Index (BCFI) method is a measurement tool to indicate which attribute of a business process is critical and which is not, based on the experience and expectations of the company’s employees, customers or business partners. This paper focuses on to detect and define critical business processes and factors, which have influence to effective co-operation and customer satisfaction. The use of a questionnaire is one of the most efficient approaches to gather the required information. Due to the fact that each process has its own attributes and the questionnaires cannot be standardized, but the information from the phase is essential and could be measured. In this study case company’s all gathered information will be analyzed and furthermore the BCFI measurement tools will be applied. The original research has been testified that, with the above-mentioned method (BCFI) customer’s experience of the ”gap” between expected and received service can be easily resolved. Using this BCFI method it is also possible to find easier so called “weak” customer satisfaction indicators, which are not directly obvious. Companies have crucial to take the right decisions upon the areas of business interest. To have it done, the company should have able to made decisions with the right amount of customers needs. The correct allocation and fast adaption of customer’s needs with the right amount of standards is a key to competitive advantage. This paper shows use of this BCFI method and how it could help companies to define there’s customer’s needs and required development target area more specifically.

Suggested Citation

  • Mika Kuronen & Josu Takala, 2013. "Measuring and Developing Customer Satisfaction with the Balanced Critical Factor Index Method," Diversity, Technology, and Innovation for Operational Competitiveness: Proceedings of the 2013 International Conference on Technology Innovation and Industrial Management,, ToKnowPress.
    • Handle: RePEc:tkp:tiim13:s4_236-244
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    References listed on IDEAS

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    1. Homburg, Christian & Rudolph, Bettina, 2001. "Customer satisfaction in industrial markets: dimensional and multiple role issues," Journal of Business Research, Elsevier, vol. 52(1), pages 15-33, April.
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    Cited by:

    1. Petr Suchánek & Maria Králová, 2015. "Effect of Customer Satisfaction on Company Performance," Acta Universitatis Agriculturae et Silviculturae Mendelianae Brunensis, Mendel University Press, vol. 63(3), pages 1013-1021.

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