THE CHALLENGES ENCOUNTERED BY BUSINESS OWNER ON CONSUMER SATISFACTION, COMPETITORS AND PRODUCT QUALITY

Abstract

Customer satisfaction is crucial for a company's success, as positive experiences attract 9 people, while negative ones deter 16 people. High satisfaction predicts retention, product repurchase, and loyalty. Effective businesses focus on reinforcing pleasurable experiences to retain and attract customers. Respondents assess consumer satisfaction in terms of consumer experience, product quality, and competitors. The study utilized a descriptive-quantitative research design, incorporating observation, case studies, and surveys to gather real-world data. Meanwhile, quantitative research involved collecting and analyzing numerical data to identify patterns and make predictions. Researchers employed purposive sampling, a non-probability technique in which participants are selected based on specific characteristics. The results showed key findings, including consumer satisfaction, competitors, and product quality. Product quality ranked first with the highest mean of 3.98: "Implementing strict quality control processes during manufacturing ensures that only high-quality goods are produced." Competitors ranked second with a mean of 3.64: "Your competitors can drive innovation and push you to reach new levels of success." Consumer satisfaction ranked third with the lowest mean of 3.62: "Be clear on miscommunication."  Overall, based on the survey results, respondents suggested maintaining consistency in communication with consumers and providing good service. Based on the conclusion, many female business owners from different industries shared their perceptions. The researchers recommend using marketing tools to convince customers of product quality. Hence, if business owners want to be successful in terms of performance and competitiveness, they must be aware of the needs of their customers.