Customer Trust and Confidence Toward Startup Businesses

Citation

Thanaroj Tharasuk. (2020). Customer trust and confidence toward startup businesses. (Independent study, Master of Business Administration). Bangkok: Siam University.

Abstract

Managing customer trust and satisfaction attitudes are very important for the long-term growth of businesses. The main objective of this paper was to identify the factors that influenced the extent of consumers trust, satisfaction and loyalty towards startup business. A number of studies have shown that the long-term success of a corporation is closely related to the ability to create and maintain loyal and satisfied customers, adapt to customer needs and changing preferences. In order to monitor customer trust and to take action for improving, there are a number of different methods that have been developed and tested. Customer trust can be addressed as a strategic business development tool and it does have a positive effect on organization profitability. Satisfied customers form the foundation of any successful business as customer trust leads to repeat purchase, brand loyalty and positive word of mouth. On the bases of this research it was recommended for organizations to implement a customer trust model to enhance their business development and improve their overall level of quality. Customer confidence needs to be built on well-defined transparent processes and with a stable approach. While customer confidence may differ from time to time and from customer group and segmentation, whether this is based on business unit, country, product or demographic culture, is not relevant as long as managers and marketers understand the relevance in relation to the target group. As a result, organizations could benefit and earn customer trust.

Keywords: Trust, Confidence, Startup Business.

Customer Trust and Confidence Toward Startup Businesses

Master of Business Administration (International Program), Siam University, Bangkok, Thailand

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