Merchant Satisfaction Evaluation Study Of Zhaoyuan Gold Jewelry Palace

With the deregulation of precious metal and rapid development of China’s economy as well as the improvement of people’s living standards, people’s demand for gold jewellery and other luxury precious jewellery is growing, which are all driving the rapid development of production, circulation and service of gold jewellery industry. At present, there are over3000jewelry processing enterprises and more than20,000sales companies in China, the competitions is fiercer than ever before. Zhaoyuan Gold Jewelry Palace is one of the jewellery trading exchange markets providing support services. With the diversification of trading methods and the fast growing of trading markets, the Palace is facing unprecedented competition and pressure in attracting consumers and merchants. As the homogenization of products is serious, the Palace can’t obtain obvious competitive advantages by traditional low-price and multiservice strategy. Except for providing good products and services, customer satisfaction is one of the basic strategies and key means to get the advantage in the competition. In order to achieve success, Zhaoyuan Gold Jewelry Palace must adjust its previous business pattern from solely providing a trading place to focusing on customers, improving merchant satisfaction level, decreasing customer loss ratio as well as cultivating faithful customers.Based on Customer Satisfaction Index Model and in-depth research of merchants settled in Zhaoyuan Gold Jewelry Palace, this paper wants to master the merchant satisfaction level and develop coping strategies for the exposed problems, so as to promote merchant satisfaction level, improve the loyalty of merchants, and enhance the Palace’s competitiveness as well. Meanwhile, this theoretical study of customer satisfaction fills the gap of gold jewelry industry, provide empirical case for customer satisfaction theory and expand its research scope.This paper adopts document analysis and empirical research. Based on the document analysis of existing theoretical research achievements on customer satisfaction and customer satisfaction index, this paper adopts mathematical statistics analysis. As the number of samples is relatively small in this research, we adopts structural equation model (SEM) with partial least squares (PLS) method, and makes a empirical evaluation studies on the merchant satisfaction level of Zhaoyuan Gold Jewelry Palace.Resulting from the research of Zhaoyuan Gold Jewelry Palace, we concludes that the merchants settled in the Palace have a comparatively high level of satisfaction with the staffs service attitude and their problem-solving ability, as well as the Palace’s infrastructure and supporting facilities, its integrated services as well as its security measures. However, the satisfaction on the Palace’s promotional activity and operational income are comparatively low, which needs to be improved.