In highly competitive markets, retaining customers and achieving sustainable growth in profits has become more important. Companies have exhausted cost-cutting as a source of profit growth and are now segmenting the potential customers in a new way based on their willingness to pay and configure the right products or services according to their requirements. The bottom line is, if the customers are satisfied, they will pay for the products and services. In this race, private players are way ahead of government organizations. Public sector banks in India should change their mindset towards customer satisfaction and add value to remain in the race.

Nowadays, competition between the companies, between the products, and between the services is extremely high due to the booming economy of India. Owing to liberalization of the global economy, number of multinational manufacturing units and service units are stepping into the potential market in the country. They are tying up with Indian companies and carrying on business in an efficient manner. In this competitive environment, each and every organization is anxious to make its presence felt. They are selling products and services to the customers who are the ultimate decision-makers to accept or reject the same. Now the question arises why would they accept a product, what benefits would they get out of it, how well are they satisfied with the product? Hence, customers' satisfaction is a crucial factor. The ultimate objective of any type of business unit is to reach the optimum level of profit. With the business approaches changing profit nowadays is judged in accordance with the customers being satisfied with product and services. How the products or services contribute towards the satisfaction levels of the customers happen to be the main issue for business. Here arises the concept of value-added analysis which indicates adding more value to customers. It carries a high-degree of importance to the customers as well as business. This concept is not only applicable to manufacturing sector, but also to the service industry. Nowadays, the service industry proves to be strong and vibrant in our country with remarkable development.

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