Modeling the Natural Decay of Delight in Product Attributes and its Impact on Customer Satisfaction

Abstract

This thesis explores the dynamics of customer satisfaction and its relationship with product attributes while modeling the natural decay of delight associated with these attributes. The research analyzes online reviews of Philips Airfryers to provide valuable insights for businesses aiming to enhance customer satisfaction and remain competitive in a dynamic marketplace.

The study offers several insights into the concept of the natural decay of delight, which refers to the diminishing satisfaction experienced by customers over time. It reveals that the availability of alternative products influences this decay, indicating that as more alternatives become available, the initial delight associated with a product tends to diminish. This understanding underscores the importance of managing customer satisfaction throughout the product life cycle.

The thesis delves into the impact of product attributes like capacity, repurchase intention, and value for money on customer satisfaction ootnote{Keywords: Capacity, Value for Money, Repurchase Intention, Total Alternatives, Airfryer, Customer Satisfaction, and Natural Decay of Delight.}. It identifies these attributes as significant factors affecting customer satisfaction levels. Capacity, when aligned with customer expectations, enhances satisfaction. A positive repurchase intention fosters greater satisfaction and brand loyalty. Moreover, customers perceiving good value for money report higher satisfaction. The study also explores the moderating role of external variables, such as the number of alternatives, in shaping these relationships, providing valuable insights into customer preferences and behavior.

Moreover, the research incorporates external factors, including the impact of the Covid-19 pandemic, sales channels, and regional variations. These external influences are crucial in shaping customer satisfaction and require consideration in product management and marketing strategies.

The practical implications of the findings are significant for businesses. They emphasize the importance of understanding the natural decay of delight and managing product attributes to optimize customer satisfaction. By strategically considering moderating variables, companies can enhance their investments and overall customer satisfaction. Additionally, the study highlights the significance of adapting to changing market dynamics by incorporating external factors in product strategies.

In conclusion, this thesis provides a comprehensive analysis of customer satisfaction dynamics, product attributes, and external influences. The insights gained can guide businesses in developing effective strategies to manage customer satisfaction, adapt to market changes, and maintain a competitive edge. By understanding and addressing customer preferences and factors influencing satisfaction, businesses can optimize their efforts and drive success in today's fiercely competitive marketplace. Businesses should prioritize actively managing product attributes, continuously seeking customer feedback, and proactively adapting to evolving customer demands with the support of their data analytics teams. These actions aim to enhance overall customer satisfaction and foster loyalty.