Consumers are looking for bargains, satisfaction survey finds

Companies that offer deals and price cuts fared well in this year's American Customer Satisfaction Index which looks at customer satisfaction as frugal consumers continue to look to price as a factor when buying.

The index, released today by the University of Michigan, has ranked companies in the in the fast food, airlines, hotels, restaurants and express delivery services.

McDonald's came in dead last in its category -- even though it has seen a growth in sales. The survey's founder, Claes Fornell, said in a statement that McDonald's ranking points to consumers who look for price breaks, but want more from their choices.

"These newcomers seem less satisfied, and were it not for the economy some of them would probably rather eat somewhere else," he said. Papa John's lead the fast food list which also showed Burger King and KFC making gains. McDonald's was the only chain that dropped in the ratings.