Relationship between customer satisfaction and willingness to pay : A study of restaurants of Ludhiana city.
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Date
2008
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Punjab Agricultural University, Ludhiana
Abstract
ABSTRACT
The study was conducted to know the relationship between customer satisfaction and willingness to pay more and the relationship between customer satisfaction and willingness to pay more on the basis of various demographic variables. The study was done by selecting sample from restaurants of Ludhiana city. To accomplish these two objectives, data from 90 respondents was collected through a pre- designed structured questionnaire. The data was then analyzed by applying the proper statistical tools. Customer satisfaction was divided into three levels i.e. high, medium and low, calculated by using self explicated method and willingness to pay more was divided into four levels i.e. 5%, 10%, 15% and 20%, part worth functions for each level was calculated by using full profile conjoint analysis. To find an association between level of customer satisfaction and level of willingness to pay more Chi-square test was applied at 0.05 level of significance. Hence we can conclude that there is no association between level of customer satisfaction and level of willingness to pay more and also there is no association between level of customer satisfaction and level of willingness to pay more on the basis of various demographic variables except age group category of 15-25 years are willing to pay more even those respondents have low level of satisfaction.
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