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

NATIONAL ECONOMICS UNIVERSITY

BUSINESS SCHOOL

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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

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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

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TABLE OF CONTENTS

ACKNOWLEDGEMENT.......................................................................................1

ABRREVIATIONS..................................................................................................6

LIST OF FIGURES.................................................................................................7

LIST OF TABLES...................................................................................................8

INTRODUCTION....................................................................................................9

1.1.Rationale...........................................................................................................9

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

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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 joint￾stock 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

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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

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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

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LIST OF FIGURES

Figure 1 Research process........................................................................................10

Figure 2 American Customer Satisfaction Index model...........................................20

Figure 3 The Zeithaml and Bitner’s model...............................................................21

Figure 4 European model of customer satisfaction index model..............................22

Figure 5 The Selim Ahmed & Md. Hbibur Rahman’s model...................................24

Figure 6 The Tran Thi Bich Lien's model................................................................25

Figure 7 The research model applied for Hong Lam company.................................27

Figure 8 Hong Lam JSC’s structure.........................................................................40

Figure 9 Customer's age...........................................................................................41

Figure 10 Customer’s occupation.............................................................................42

Figure 11 Customer’s gender...................................................................................43

Figure 12 Customer’s Income..................................................................................44

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LIST OF TABLES

Table 1 KMO and Barlett’s test................................................................................45

Table 2 Reliability test for dimension Product Quality............................................46

Table 3 Reliability test for dimension Marketing – Promotion................................47

Table 4 Reliability test for dimension Brand............................................................48

Table 5 Reliability test for dimension Brand............................................................49

Table 6 Reliability test for dimension Price.............................................................50

Table 7 Reliability test for dimension Price.............................................................51

Table 8 Reliability test for dimension Distribution..................................................52

Table 9 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

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