Page 26 - IMDR - Journal of Management Development and Research - March2019-20

of the topic After selecting the topic, the researcher tried to conduct a complete study

of the available literature to know the past, present scenario and to understand the
future trend. Literature review also helped the in the study to know of the deviations

in the present study and if possible to give certain remedial measures.
 Thomas and Gupta, Marketing Theory & Practice: Evolving through turbulent

times, Global Business Review, 2005, Vol.6, Issue 1
Last few decades have witnessed dramatic changes in market environment.

Characterized by unprecedented levels of diversity, knowledge richness in Addition,

turbulence. The turbulence in environment has created by macro Environmental
changes, namely, technological advances and globalization. The technological

changes have made the traditional economic concept of scale, scope and structure

irrelevant in the new economy removing the time and place barriers of doing business.
Technological advances combined with forces of globalization have resulted in the

transformation of the economy, industries, markets and customers, resulting in a
connected knowledge economy, borderless global economy, globalizing, converging

and consolidating industries, fragmenting and frictionless markets and active,
connected, informed and demanding customers. Organizations' attempts to adapt to

these changing environmental realities have effected changes in the focus, emphasis

and scope of marketing. Today's customers demand choice and convenience.
Customers mix and match according to their needs for product or service. Customer

"satisfaction presents a versatile cross-channel metric to gauge the service provider's
strengths and weaknesses from the customer's point of view. The concept of customer

satisfaction occupies a central position in marketing thought and practice.
Satisfaction is a major outcome of marketing activity and service to link processes

culminating in purchase and consumption with post purchase phenomenon such as

attitudinal change, repeat purchase and brand loyalty. It is a feeling, which a customer
gets from a process of evaluating what was received against that expected, the

purchase decision itself and the fulfilment of needs and want. The key to customer

satisfaction lies in meeting these expectations. Expectations are created in the
customer mind from a variety of causes and reasons like past- experience,

promotional claims, word of mouth and third-party information.
 Kotler, Philip, Marketing Management, 12e, 12th Edition, Pearson Education,

New Delhi, 2006, p 136-137

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