Pricing strategies and customer retention the case of airtel. Customer retention, firm performance, customer satisfaction, and. The relationship between customer satisfaction and customer retention has been researched for many years. Service quality influence customer satisfaction and loyalty.
Marketers can better cultivate relationships with existing customers in these ways. An approach to increase customer retention and loyalty in. Recommendations on improving the service quality and getting customer retention are ultimately proposed. Pdf impact of customer retention practices on firm. Gonca telli yamamoto maltepe university, faculty of economics and administrative sciences, business department deputy head of the department sahilyolu orhantepe mah. Customer retention has been described as customer s intention to stay with the particular service provider in future ranaweera et al, 2003.
Customer retention management customer processes management. Customer retention through customer relationship management. The study investigates crm and customer retention in the nigerian banking industry. Relationship quality and customer retention through strategic communication of customer skills. Customer retention management processes a quantitative study lawrence ang and francis buttle macquarie graduate school of management, macquarie university, sydney, australia abstract purpose customer retention has been a signi. Customers, retention, customer satisfaction, customer retention and. Then a survey is conducted with retail banking customers about these constructs, which results in 261 valid respondents. International journal of scientific and research publications, volume 2, issue 6, june 2012 1 issn 22503153. This study examined determinants of customer retention in commercial banks in. June 2011 166 customer relationship management and its relationship to the marketing performance dr. A marketing approach for customer retention emerald insight. International journal of business and social science vol. In a study of telecommunications services, the authors examine the effects of customer satisfaction, affective commitment, and calculative commitment on retention.
Loyalty can help the business to retain most valuable customers. Data was collected from 216 food and grocery customers using convenience sampling technique through structured questionnaire. The relationship between service quality, customer satisfaction and customer loyalty. Some researchers argued that customer retention is the outcome of relational marketing efforts sheth and. Twolevel model of customer retention in the us mobile telecommunications service market telecommunications policy, vol. Pdf impact of customer retention practices on firm performance. Employee retention strategies an empirical research. Pricing strategies and customer retention title of thesis 2. As indicated in table 1, customer satisfaction is the key influencing factor of customer retention practice. The effect of customer trust on customer loyalty and customer retention. Customer retention is an outcome of wellexecuted strategies that directly relate to the practice of customer. The importance of customer satisfaction in relation to. Virtually every business loses some customers, but few ever measure or.
International journal of academic research in business and social sciences. An investigation in vietnamese retail banking sector ngo vu minh, nguyen huan huu abstract this study develops and empirically tests the interrelationships between service quality, customer satisfaction, and customer loyalty in a retail banking context. Impact of customers satisfaction and customers retention. Effect of customer relationship management on customer. They found out certain factors that are specific to improving the retention of customers and are often seen as imperative. Customer retention has been described as customers intention to stay with the particular service provider in future ranaweera et al, 2003. The effects of customer satisfaction, relationship. Customer relationship marketing and its influence on customer retention.
Pricing strategies and customer retention the case. Customer retention has become the buzzword among both practitioners and academics due to its significant impact towards the improvement in firm performance. We focus on three prominent drivers of retention in the marketing literature. A case of commercial banking industry in tanzania chacha magasi, department of marketing, college of business education, dodoma, tanzania. Customer satisfaction, customer loyalty, marketing, relationship, service quality, value. The present study will focus especially on customer retention aspects as customer re lationship management is a multidisciplinary field.
The effects of customer satisfaction, relationship commitment. International journal of innovation, management and technology, vol. Ananda kumar abstract human resources are the livelihood of all types of an organization. To understand the complexity of customer loyalty, it is important to understand the evaluations, attitudes, and intentions that affect behavior oliver 1999.
Determinants of customer retention in commercial banks in. The current research study attempts to find the impact of customer satisfaction on customer loyalty and intentions to switch. This has not only included both major and less prestigious journals, but also practitioner magazines and selfhelp websites. We describe the objectives of customer relationship management crm in customer retention which is very important for the survival of companies in today competitive environment. With the continuous growth of competition in the market place, understanding customers has become an increasing important aspect in marketing. Study is aimed at measuring dimensions of retail service quality that has an impact on customer satisfaction and customer loyalty in organized food and grocery retail shoppers of bhopal city in central india. Hisham sayed soliman lecturer department of business management. The impact of customer loyalty programs on customer. Customer satisfaction, customer retention, and market share. A model of customer satisfaction and retention for hotels. Pdf customer relationship management crm and customer.
In this study, first, a research model about the interrelationships between service quality, customer satisfaction, and customer loyalty is suggested. Ibm spss 16 software for exploratory factor analysis. Customer retention means the company keeps its customers by providing a great customer experience. Impact of customers satisfaction and customers retention on customer loyalty inamullah khan abstractthe purpose of this study is to examine the importance of future customers relationship using customer satisfaction, and customer retention on customer loyalty in telecom industry of pakistan. Masters thesis customer retention case studies of agencies in the professional service sector jessica mascareigne lulea university of technology d master thesis marketing department of business administration and social sciences division of industrial marketing and ecommerce 2009. Customer satisfaction and relationship quality on customer retention. Factors influencing customer retention are important in the study of consumer relationship conception witch has implications for organizational business strategy and regulatory policies.
Much research has already examined the consumers repeated purchase intentions, however there is no united point of view concerning the factors conditioning. Some researchers argued that customer retention is the outcome of relational marketing efforts sheth and parvatiyar, 2002. Relationship marketing serves as a moderator for the sustenance of positional advantages and. Relationship quality and customer retention through strategic. The output of these contributions is a roadmap to customer loyalty. The data were collected from 120 customers visiting the banks counters and had an account with banks serving in pakistan. International journal of managerial studies and research ijmsr. The effectofcustomer trust on customerloyalty andcustomer.
The study further examines the potential for situational and. Customer relationship management and customer retention in. Pdf the impact of customer retention strategies on customer. The relationship between customer satisfaction and customer trust on customer loyalty vithya leninkumar lecturer, trincomalee campus, eastern university, sri lanka email. Impact of customer satisfaction on customer loyalty and. Successful companies are constantly working in the field of customer retention, because without customer retention it isnt and wasnt possible to be successful in the long term.
Customer relationship marketing and its influence on customer. Pdf is customer retention beneficial for customers. Customer retention is the key to healthy business growth. Nigeria international journal of managerial studies and research ijmsr page 44 oliver 2000 suggests that customer satisfaction is the core philosophy of marketing strategy of. Impact of customer retention practices on firm performance hrmars. Research on customer retention was conducted by william et al. A critical reassessment and model development thorsten hennigthurau and alexander klee university of hanover abstract customer satisfaction with a companys products or services is often seen as the key to a companys success and longterm competitiveness. Impact of customers satisfaction and customers retention on customer loyalty inamullah khan abstractthe purpose of this study is to examine the importance of future customers relationship using customer. Customer retention is clearly marketing topic of considerable current and practical interest.
The relationship between service quality, customer. The relationship between customer satisfaction and customer. Only the systematically implementation of customer retention. Customer relationship marketing and its influence on. Furthermore, it is calibrated with actual financial data concerning buyer behavior, enhancing the realism of this proposal. Research in business and economics journal customer loyalty, page 3 marketbased and important moderator variables into the proposed model. Quantitative research method was adopted and sample size of 420 relationship management. An approach to increase customer retention and loyalty in b2c. Global journal of management and business research. Even though all types of the organizations are now a days, found to be technology driven, yet human resources are required to run the technology. Impact of customer satisfaction on custo mer retention. Various methods that have been widely used to measure.
This study sought to determine the effectiveness of customer retention strategies on performance of. Customer satisfaction is defined as a sense of comfort and attachment that results from achieving customers. A case study of a reputable bank in oyo, oyo state. Due to the significance of customer retention practice and the role of smes. Impact of customers satisfaction and customers retention on customer loyalty inamullah khan abstractthe purpose of this study is to examine the importance of future customer s relationship using customer. Role of relationship marketing in competitive marketing. Relationship quality and customer retention through. The effects of customer satisfaction, relationship commitment dimensions, and triggers on customer retention. The relationship between customer satisfaction and. The present decade will go down in business history as the era of focused attention to customer expectation and to profitability through higher customer retention. This research examined whether specific service and sales skills could improve customer retention rates. Understanding the effect of customer relationship management efforts on customer retention and customer share development, the journal of marketing, vol. A crm system, or customer relationship management system, allows you to track. Pdf on jul 10, 2011, emmanuel osei boakye and others published customer retention find, read and cite all the research you need on researchgate.
The case of airtel t ltd bachelors thesis, pages 55 may 2015 this bachelors thesis was done under the consent of airtel t ltd with a major purpose of finding the correlation between pricing strategies and customer retention. International journal of academic research in business and social. Impact of customers satisfaction and customers retention on. Consumer marketing companies have lavished more resources on attracting new customers than on satisfying old customers. This study extended that research to look at the antecedent effects of customer satisfaction as well as the effect of added value and gender on customer satisfaction and customer retention, and how they relate to the intent to switch.
In todays low growth and highly competitive marketplace, however, customer retention increasingly joins customer getting as an important area of analysis and planning. Customer relationship management and customer retention. Five 5 research objectives and hypotheses were developed for the study. The impact of ebanking service quality on customer. Impact of customer satisfaction on customer retention. The impact of customer loyalty programs on customer retention. The impact of customer satisfaction and relationship. Article pdf available in european journal of marketing 4012. Measuring switching costs and the determinants of customer. Pdf customer retention has become the buzzword among both. Today, customers are very important factors in companies management. Service quality delivery and its impact on customer. Ro king 2005 also explained that customer retention involves steps taken by a selling organization in order to reduce customer defection and successful customer retention starts with the first contact an organization has with a customer and continues throughout the entire lifetime of a relationship.
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