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Shcheglov, Sergii, and Iuliia Shcheglova. "Retention of the restaurants’ customers." Thesis, Gotland University, Institution 2, 2010. http://urn.kb.se/resolve?urn=urn:nbn:se:hgo:diva-426.
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Aim of this paper is to describe and analyze why customers come back to the restaurants, what influence their decisions. During the research we formulate 2 hypotheses. Hypotheses 1 – most reasons of the restaurants’ customers retention can be associated with restaurants’ service elements adapted from the 8Ps of Service Marketing Model. Hypotheses 2 - retention and loyalty have unidirectional relation – loyalty means retention of the customer, but retained customer doesn’t mean loyal. The results of empirical research support both hypotheses. Also during the empirical research we have highlighted some interesting results which are visualized in Illustration 5.1, Illustration 5.2 and Illustration 5.3. In research qualitative and quantitative approaches are used. Data collection method is interview. One deep interview was conducted with restaurant manager in order to enhance the quality of results interpretation. The results of the research can be used by marketers especially in restaurant sphere in order to better understand what influence customers’ behavior and why they come back to the service provider. Also restaurants’ managers can use our findings as a tool to increase the retention rates by adjusting relevant restaurants’ service elements within their restaurant.
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Otaigbe, Edmund Ehichioya. "Exploring Satisfaction and Retention Strategies for Generation Y Customers." ScholarWorks, 2018. https://scholarworks.waldenu.edu/dissertations/5242.
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Firms in the service industry have experienced a 15-30% drop in customer satisfaction ratings and an estimated $10 billion annually due to the unpredictable tendencies of one of the most significant and fastest growing consumer segments in the marketplace, Generation Y customers. The distinctive behavior of this sizeable generational cohort may be reshaping the business landscape of the 21st century regarding how consumers will relate to service providers in the future. Using the theory of customer satisfaction management system, the purpose of this multiple case study was to explore the customer satisfaction strategies that business leaders in southern Nigeria use to retain Generation Y customers. The participants included business leaders who have successfully retained Generation Y customers by applying customer satisfaction business strategies in Akwa Ibom state, Nigeria. The data were collected through semistructured one-on-one interviews with 3 business leaders from different sectors of the service industry. To enhance the credibility and trustworthiness of the interpretations, methodological triangulation of the data sources and member checking were used. The process of data analysis included word frequency analysis, coding of related phrases, identification of patterns, and generation of themes around the codes. The themes that emerged from the study were (a) positive brand image creation, (b) social media as an enabler, and (c) quality service and timely delivery. This study may create awareness for business leaders on how to satisfy and retain Generation Y customers. This awareness has the potential of promoting positive social change among business leaders because of the significant contribution profitable businesses bring to the societies and communities.
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Sivakumar, Soumya. "CUSTOMERS BEHAVING BADLY: COMPLIANCE, RETENTION, AND REVENUE CONSEQUENCES OF PROBLEM CUSTOMERS AND FRONTLINE EMPLOYEE PROBLEM SOLVING." Case Western Reserve University School of Graduate Studies / OhioLINK, 2007. http://rave.ohiolink.edu/etdc/view?acc_num=case1171908347.
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DANTAS, MANUELA ALENCAR DA CRUZ. "A MODEL TO MEASURE CUSTOMERS CANCELLATION RISK IN TELECOMMUNICATIONS - THE APPLICATION OF LOGISTIC REGRESSION FOR CUSTOMER RETENTION." PONTIFÍCIA UNIVERSIDADE CATÓLICA DO RIO DE JANEIRO, 2009. http://www.maxwell.vrac.puc-rio.br/Busca_etds.php?strSecao=resultado&nrSeq=14704@1.
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O atual ambiente organizacional está marcado por uma alta competitividade,
elevada turbulência e por mudanças rápidas e descontínuas no macro ambiente das
empresas. O cenário exige foco no cliente e estratégias voltadas para manutenção de
um relacionamento profícuo para ambas as partes (cliente e empresa), com visão de
longo prazo. Esta dinâmica de mercado é o foco principal desta pesquisa, que está
centrada na retenção de clientes, como estratégia competitiva para aumento de valor
para empresa. O objetivo, então, é desenvolver uma ferramenta que auxilie na
definição do perfil de clientes mais propensos a romper o relacionamento (churn),
permitindo que a empresa antecipe-se a este acontecimento, tornando-se mais próativa,
e assim, sendo mais eficiente nos seus processos de negócio. Com este
propósito foi feita uma revisão bibliográfica sobre comportamento do consumidor,
marketing de relacionamento, retenção de clientes, segmentação de mercado e churn
em telecomunicações. Depois do embasamento teórico e direcionamento oferecido
pelas obras consultadas, foi realizada a aplicação prática de uma ferramenta
estatística na base de dados disponível de uma empresa de telecomunicações,
utilizando regressão logística binária para o modelo de propensão de cancelamento. O
resultado alcançou uma taxa de acerto geral de 79,2%, composto por 13 variáveis que
podem facilitar a identificação do perfil de clientes com maior probabilidade de
cancelamento, indicando ainda, que apenas 8% da base apresentam mais de 80% de
chance de serem cancelados. Estes resultados demonstram a possibilidade e
importância da identificação de clientes propensos ao churn, assim como daqueles
que a empresa deve atrair e reter para ser capaz de desenvolver práticas eficientes e
lucrativas.The current organizational environment is marked by a high competitiveness, high turbulence and rapid and discontinuous changes in companies’ macro environment. Scenario requires focus on customers and strategies geared towards maintaining a fruitful relationship for both parties (customer and company), with long-term vision. This dynamics of this market is the main focus of this research, which focuses on customer retention as a competitive strategy to increase value for companies. The objective then is to develop a tool that assists in defining the profile of customers most likely to break the relationship (churn), allowing the company forward to this event, becoming more pro-active, and thus being more efficient in their business processes. In this regard was a comprehensive literature review on consumer behavior, relationship marketing, customer retention, market segmentation and churn in telecommunications. After the theoretical basis and guidance offered by works consulted, the practice was performed by a statistical tool based on data available from a telecommunications company, using binary logistic regression model for the propensity of cancellation. The result achieved an overall success rate of 79,2%, composed of 13 variables that may facilitate identification of the profile of customers most likely to cancellation, further indicating that only 8% of the database have more than 80% chance to be canceled. These results demonstrate the possibility and importance of the identification of customers likely to churn, as well as those that the company must attract and retain to be able to develop efficient and profitable practice.
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Wasfi, Hummam, and Olena Kostenko. "The Impact of Complaint Management on Customers Retention : Banking Industry in Sweden and Lebanon." Thesis, Högskolan i Gävle, Avdelningen för ekonomi, 2014. http://urn.kb.se/resolve?urn=urn:nbn:se:hig:diva-17199.
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Title: The Impact of Complaint Management on Customer Retention Level: Final assignment for Master Degree in Business Administration Authors: Hummam Wasfi, Olena Kostenko Supervisor: Ehsanul Huda ChowdhuryFiD Date: 2014 – June Aim: The purpose of this study is to examine or inspect the aftermath of effective complaint management structure in relevance to customer’s retention in banking industry. Design/methodology/approach: The framework is structured on the bases of determining the strength of the relationships between the following variables complaint management, customer’s satisfaction and loyalty. Whereas, quantitative data were gathered via questionnaire, and further analyzed using SPSS, particularly, employing the relationship measurement tools Correlation and Linear regression analysis to calculate the extent to which each variable affects the other. Findings: The aftermath of analysis led to fundamentally privileged outcome, whereas, subsequent to computing the extent to which complaint management influences customer retention, we were able to extract three formulas to determine the linear relationships between the variables that stimulate this calculation process. Suggestions for future research: To enhance the representation of sample, future studies should target more cities with variant circumstances, and apply this type of analysis to other industries Originality: This study contributes idiosyncratic evidence to companies on the systematic influence of complaint management on customer’s retention, furthermore, repercussions of these findings has led to analysis distinguishing the distinctive response of customers to complaint management in Sweden and Lebanon. Keywords: Complaint Management, Satisfaction, Loyalty, Retention, Banks, Sweden, Lebanon Originality: This study contributes idiosyncratic evidence to companies on the systematic influence of complaint management on customer’s retention, furthermore, repercussions of these findings has led to analysis distinguishing the distinctive response of customers to complaint management in Sweden and Lebanon.
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Åman, Robert. "Understanding when customers leave : Defining customer health and how it correlates with software usage." Thesis, Uppsala universitet, Institutionen för teknikvetenskaper, 2017. http://urn.kb.se/resolve?urn=urn:nbn:se:uu:diva-329220.
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More and more businesses today focus on building long-term customer relationships with the objective to secure recurring revenues in competitive markets. As a result, management philosophies such as Customer Success have emerged, which underlines the importance of knowing your customers in order to make them stay. A common way of tracking the well-being of a firm's customers is the use of customer health scores. Such tools monitor assembled data and indicate whether a customer is doing fine, or is in the risk zone of ending the business relationship. However, there exists little to no consensus on what customer health actually means, or how to distinguish suitable parameters for measuring this concept. Therefore, the purpose of this thesis has been: To extend the existing knowledge of the business concept customer health, and show how to identify relevant parameters for measuring customer health. To reach this purpose, a study has been conducted at a software-as-a-service company operating in the field of digital marketing; where methods such as semi-structured interviews, ethnography, web survey, data mining execution and statistical analysis have been used. The results show that software usage differs between active and former customers, with the general tendency that a high software usage indicates a higher propensity to stay as a customer. The study concludes that customer health is best defined as "the perceived value a customer experiences when using a product". In addition, the parameters that were found to best indicate customer health at the company studied were linked to customers’ software usage as well as their marketing set-up.
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Khan, Muhammad Arif, and Saqib Saeed Khan. "Is it possible for Apoteket AB to retain its customers after de-regulation? : A Case Study." Thesis, Umeå universitet, Handelshögskolan vid Umeå universitet, 2011. http://urn.kb.se/resolve?urn=urn:nbn:se:umu:diva-39759.
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Purpose of the Study To study how Apoteket AB can retain its customers after the government decision to implement de-regulation in Swedish pharmaceutical market. Apoteket AB was the only state-owned pharmacy for more than 38 years but now they are in competition with other pharmacy operators including supermarkets and gas stations. The main purpose of this study is to find out those vital factors which are important to customers in selecting pharmacy operators for buying prescription and non-prescription products. Approach The study begins by reviewing the Swedish pharmaceutical market and parliament decision of de-regulation about Apoteket AB monopoly. The literature then reviews the PESTEL framework, Porter model, customer relationship management and 7 P’s of marketing mix. We use Umeå university library for gathering material for our literature review. After that the authors reviewed different pharmacy operators and potential entrants in the Swedish pharmacy market. For this case study the authors have gathered the data through customer survey and semi-structured interview. The data was collected in Umeå (Sweden) with the help of questionnaire. We have collected the data with the help of convenience sampling technique at different locations in Umeå. Interview was conducted with Apoteket AB brand manager to understand their point of view about our research question. SPSS was used for analyzing the quantitative data, mainly descriptive statistic and Mann-Whitney U test were used for this purpose. Finally all the information’s were carefully analyzed by comparing with theories before drawing the final conclusion. Findings Four important aspects of customer’s retention were found; which are more community pharmacies, extended opening hours, low prices of over the counter products and added value to individual customers. Our respondents also show great confidence over the Apoteket AB personnel (Pharmacists). On the other hand we have also found that people appreciate the removal of Apoteket AB monopoly. Furthermore, we have found that after the implementation of de-regulation in Swedish pharmacy market over the counter (OTC) products have shown a 20% growth. The reason behind this growth may be the easy excess to such products and extended opening hours of supermarkets. The authors have also observed that people are willing to buy prescription products from other operators.
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Arline, Hilda Jordan. "Marketing Strategies Used by Franchise Small Businesses to Retain Customers." ScholarWorks, 2016. https://scholarworks.waldenu.edu/dissertations/2783.
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Franchised small businesses will not survive their first 5 years if they cannot implement marketing strategies that appeal to their customers. The purpose of this multiple case study was to explore the marketing strategies that successful franchise small business leaders used to retain customers. The population comprised 4 business leaders at franchise small businesses in North Carolina. Competitive advantage theory and blue ocean theory grounded this study. Data were collected using semistructured face-to-face interviews and review of company marketing materials. Data were thematically analyzed, and 6 themes emerged: personalization of customer service, market segmentation, innovative advertising, networking, brand identity, and loyalty programs. Market segmentation and innovative advertising are fundamental strategies for retaining customers within the target market, whereas personalization of customer service can help build positive relationships with customers. These findings could improve customer loyalty and customer satisfaction, which might increase the number of successful small businesses in the United States. The implications for positive social change include the potential for business leaders to develop effective marketing strategies to retain customers, which may benefit customers through an increase in job opportunities in the local business community.
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Burnside, Lisa Marie. "Strategies to Attract and Retain Customers for U.S. Private Country Clubs." ScholarWorks, 2018. https://scholarworks.waldenu.edu/dissertations/5834.
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The decline in the number of customers in the private country club (PCC) industry in the United States is causing a reduction of revenues, which inhibits the sustainability of the clubs. The purpose of this multiple case study was to explore marketing innovation strategies (MIS) that Arizona PCC managers used to attract and retain customers successfully. Relationship marketing theory was the conceptual framework; key constructs of the theory include customer loyalty, service quality, experience satisfaction, trust, and communication. The study explored successful MIS that PCC managers have used to attract and retain customers to prevent closure. Participants consisted of 1 manager from 4 different PCCs in Arizona who used MIS successfully to attract and retain customers. Data were collected from semistructured, open-ended interviews and from marketing documents and website content. Data were analyzed using a 6-phase approach to thematic analysis. The 3 primary themes that emerged included broadening the marketing message to entice people to frequent the club; creating experiences that rated high in satisfaction by members, guests, and employees; and using a variety of communication media. The results of this study may contribute to positive social change by helping PCCs to remain in operation, which could benefit local communities by providing employment opportunities at the clubs and venues for local charities to raise funds.
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Ilicheva, Elena. "Discounts as a marketing tool for attraction and retention of customers in e-commerce through the example of a comparative analysis of the specificity of fashion e-shops in Russia and Sweden." Thesis, Högskolan i Borås, Akademin för textil, teknik och ekonomi, 2015. http://urn.kb.se/resolve?urn=urn:nbn:se:hb:diva-838.
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This study provides a comparative analysis of pricing promotions, which create an incentive to buy in Russian and Swedish fashion e-shops. The aim of this work is to determine the national differences in sales promotions used in e-commerce in these countries. This work confirms the existence of modern marketing trend in the e-commerce, which uses discounts as a tool for communication with consumers and for retaining them in the shop as a regular customer, and not just for traditional use of discounts as a way to sell remaining goods. To conduct the study the collected data obtained through systematic observation of application of discounts and promotions as marketing tools in the e-shops in these countries. Following the comparative analysis of statistical data we were able to determine the difference in the periods of sales, the maximum and minimum level of price falls, to create a typology of discounts, typical for both countries and for each of them separately. The recommendations for online retailers who develop the markets of these countries with regard to national specifics in communication with the consumer and based on the most popular types of discounts and promotions are also the important part of this work. The results of this study refute the words of the expert Simonetta Carbonaro that the modern approach to pricing policy in the e-commerce is a "suicide of fashion retail."
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Sanz, Paulo Sérgio da Silva. "Uma investigação empírico-exploratória acerca da rentabilidade dos clientes freqüentes e esporádicos no varejo eletrônico brasileiro." reponame:Repositório Institucional do FGV, 2003. http://hdl.handle.net/10438/3686.
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Previous issue date: 2003o presente estudo de caso investiga, empiricamente, a rentabilidade associada aos consumidores do varejo eletrônico de bens duráveis no Brasil. Para tal, o arcabouço teórico baseia-se em teorias rivais, notadamente as expostas na literatura tradicional do Marketing de Relacionamento - que discute os beneficios da retenção de clientes - e nas recentes publicações que questionam tal abordagem - argumentando que os consumidores esporádicos podem se mostrar mais valiosos que os freqüentes. Nas duas empresas investigadas, os clientes esporádicos demonstram-se mais rentáveis que os freqüentes. Entretanto, a análise exploratória dos dados qualitativos demonstra que ambas utilizam abordagens transacionais para interagir com os consumidores. O cruzamento das evidências quali-quantitativas sugere que o declínio do valor dos clientes freqüentes está associado a práticas gerenciais que não se encontram em conformidade com a literatura convencional de marketing. Por conseguinte, as evidências quantitativas parecem não representar anomalias perante a teoria vigente, segundo a qual os beneficios inerentes à retenção de consumidores fazem sentido apenas para as empresas que estiverem orientadas a clientes e puderem interagir de forma relacional com os mesmos. O estudo possibilita supor que o valor dos clientes está associado à forma como as empresas se relacionam com o mercado. A adoção de práticas transacionais, a baixa diferenciação e a competição baseada em descontos parece potencializar a sensibilidade ao preço por parte dos consumidores, principalmente daqueles mais freqüentemente.
This case study investigate, empirically, the profitability associated with frequent and sporadic consumers in the Brazilian e-retailing arena of durable goods. The theoretical framework is based on rivals theories, namely the traditional relationship marketing literature - discussing the customers retention benefits - and then recent publications questioning this approach - arguing that sporadic consumers can be more valuable than frequent customers. In both of the firms, sporadic consumers generates higher profits than frequent ones. However, the exploratory analysis of qualitative data shows that firms uses transactional approach to interact with consumers. The cross-method analysis, of qualitative and quantitative evidences, suggests that the decline of frequent customers value is associated with managerial practices not in conformity with the conventional marketing literature. Therefore, the quantitative evidences seems not to represent anomalies face the dominant theory, according to which the consumers retention benefits makes sense only to companies oriented to customers, and those which interact in a relational fashion with them. The study allows to suppose the value of customers is associated with the way companies relates to the market. The adoption of transactional practices, the low differentiation, and the discount-based competition seems to increase the customer's price sensibility, mainly for those more frequent buyers.
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Cassab, Harold. "Multi-channel service : performance and implications for customer retention /." Thesis, Connect to this title online; UW restricted, 2005. http://hdl.handle.net/1773/8749.
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Silva, Ednilson Pissolato da. "Análise do relacionamento da Casa das Copiadoras com seus clientes em projetos de solução para reprodução de imagem." reponame:Biblioteca Digital de Teses e Dissertações da UFRGS, 2006. http://hdl.handle.net/10183/11821.
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Atualmente uma empresa não pode contar simplesmente com um bom produto ou serviço, pois a grande concorrência existente no mercado possui bons produtos e bons serviços, todos relativamente equivalentes em tecnologia e preço. Este fato possibilita aos consumidores mudarem de fornecedor pela simples questão de preço, não se opondo em desfazer um relacionamento a qualquer momento, ou manter fidelidade com uma determinada marca ou serviço. Desta forma a conquista de novos clientes poderia ser uma boa opção, se não fosse o alto custo que uma empresa precisa empregar para estas novas conquistas. O cenário atual leva as empresas a focarem suas estratégias na retenção de clientes para poderem obter lucro em suas operações comerciais. O fato é que a retenção de clientes torna-se mais importante que a atração de novos clientes. O Marketing de Relacionamento surge desta nova visão que passa a olhar muito mais para a satisfação das necessidades e desejos dos clientes e não somente a trabalhar com a preocupação da venda de algum produto. Este trabalho tem como finalidade analisar o relacionamento da empresa Casa das Copiadoras com seus clientes, para que através deste estudo possa-se perceber a existência, ou não, de um relacionamento consistente entre as partes e os motivos que levam a sustentação deste relacionamento. Para alcançar os objetivos esperados optou-se por uma abordagem qualitativa que tem como característica principal prover a compreensão do problema em questão com maior precisão, identificar cursos relevantes de ação e obter dados adicionais para que se possa desenvolver uma abordagem definitiva da situação-problema.Nowadays a company can not only count with a good product or service, for competition existing in the market holds good products and good services, all equivalent in technology and price. This fact makes possible to consumers change from suppliers because of prices not opposing themselves to break connections any moment or maintain fidelity with some mark or service. This way conquer new clients could be a good option if it wouldn’t be the high cost that company needs to invest to this new conquests. The present scenery leads companies to focus their strategies to retain clients and obtain profit in their commercial operations. Retain clients is more important than attract new ones. This is a fact. Relation marketing emerges from this new vision that sticks to client’s satisfactions and necessities and desires and not only works the preoccupation to sell some products. This work wants to analyze the relation between Casa das Copiadoras company and its clients for through this study could understand the existence, or not, of a consistent relation between both parts and the reasons that leads to this relation. To reach the wanted objectives a qualitative approach was chosen. Its principal characteristic is to provide the comprehension of the problem identify important directions of actions and get additional data to develop a definitive boarding of the situation problem.
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Kankam, Boadu Ama Achiaa [Verfasser]. "Customer Relationship Management and Customer Retention / Ama Achiaa Kankam Boadu." München : GRIN Verlag, 2019. http://d-nb.info/1199344958/34.
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Walcott, Ronald. "Customer Retention in Highly Saturated Telecommunications Markets." Thesis, Northcentral University, 2016. http://pqdtopen.proquest.com/#viewpdf?dispub=10147091.
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The mobile telecommunications industry continues to experience global growth, as manifested through the number of global mobile subscriptions. There are 6.8 billion mobile subscriptions globally and 3.4 billion mobile customers. The telecommunications industry is liberalized and considered one of the most competitive industries in the world. In the highly competitive mobile telecommunications industry, customer retention, not customer addition, is the focal point of business leaders. The general business problem was the continued inability of some business leaders to retain customers in a highly saturated market, which results in revenue erosion. The specific business problem was the limited knowledge of some telecommunications business leaders about effective strategies on how to retain telecommunications customers in a highly saturated market. The purpose of this qualitative, exploratory, multicase study was to explore effective strategies on how to retain telecom customers in a highly saturated market. During the data collection, 25 cognitive interviews were conducted with selected participants from Telecommunications Services of Trinidad and Tobago, a telecommunications company that operates in the highly saturated market in Trinidad and Tobago. In this study, the plan was to explore specific attributes that affect the retention of mobile phone customers in a highly saturated market. The top two customer retention considerations for telecom business leaders were value and customer service quality. Telecom business leaders should employ these two findings because they are the most effective strategies for customer retention in highly saturated telecommunications markets. This study on customer experience was the first part of a four-part study. Further research into the other three parts of this study, which are competition, the organization, and the environment, is necessary to provide a comprehensive holistic approach to customer retention in highly saturated telecommunications markets.
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Naveed-ur-Rehman, Muhammad. "Customer Retention Strategies of Compressed Natural Gas (CNG) in a Developing Country (Pakistan)." Thesis, Linnéuniversitetet, Institutionen för marknadsföring (MF), 2013. http://urn.kb.se/resolve?urn=urn:nbn:se:lnu:diva-24338.
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Background: Statistics say that Pakistan is the third largest user of compressed natural gas, its increased demand has encouraged investment in this sector. Number of stations has doubled in less than four years, this has increased the ratio of competition and low amounts of profit. Cut throat competition forces retailers to work on quality for customers’ retention and for this retailers are expected to understand the needs and requirements of their customers. This understanding is the only key to customer retention. Research undertaken focus on the key issues faced by CNG stations for customers’ retention. The study will focus on retailer’s strategies for customer retention in a competitive environment. Purpose: The purpose of this paper is study customer retention strategies adopted by compressed natural gas (CNG) retailing stations, in a developing country (Pakistan). Research Question: How do CNG retailing stations satisfy, make loyal, and retain their customers in a competitive environment? Methodology: Deductive approach has been adopted for this research to investigate the behaviour of customers through telephone interviews, as it is a distant research. Convenience sample has been selected for this research and ten semi-structured telephonic interviews have been conducted to get the empirical data from the CNG retailers of Lahore, stations from ten different stations have been selected on the basis of prestige, repute and amount of publicity in print and electronic media. Semi structured interviews will be based on primary and secondary data together. Primary data is in the form of interviews, secondary in the form of reports and published journals. Telephonic interview was based on open-ended questions to judge the views, knowledge and utility of customers experience and close-ended questions that have provided the direct and accurate answers. Telephonic interviews have advantages and disadvantages but for a distant research like this, it is the only best possible methodology to get first-hand knowledge quickly, interview was based on ten questions to get a complete picture of customers’ retention. Operationalization was based on 14 questions question 1 to 6 are about customers’ satisfaction, 7 to 11 customer loyalty and 12 to 14 customer retention. Validity and reliability is the key to success for any research. Same question were asked in different ways to check the reliability of the answers, target oriented questions were asked to validate the objective of the research and to make research credible. Conclusion and Results: The research establishes that most companies do not have specific plans for the customer retention in a cut-throat competitive environment. Customers’ service and technical issues were the targeted areas to understand the customers’ retention. Customers’ retention means profit, low retention means low profits. Result in a nutshell is an increased focus on imperial investigation, which is inevitable to study strategies for customer retention for the survival in the competitive world.
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Craucamp, Frederik Willem. "Factors influencing customer retention, satisfaction and loyalty in the South African banking industry." Thesis, North-West University, 2012. http://hdl.handle.net/10394/9009.
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Customer retention, loyalty and satisfaction are extremely important elements in any company’s strategy, especially in the highly competitive South African banking industry. Understanding the various factors that could influence these constructs is therefore critical to organizational success.
Several studies showed the impact of these measures on profitability and shareholder value, but there has been little effort to access the factors that might lead to higher levels of retention, loyalty and satisfaction, especially in the banking industry.
This paper examines the antecedents of customer retention, satisfaction and loyalty. These possible factors include: perceived value, perceived corporate image, perceived competitive advantage, perceived switching barriers, communication, knowledgeable employees, empowerment, personalisation, ethical behaviour, fees, relationship marketing, service quality (core and relational) as well as enabling service features.
The results indicated that customer loyalty, customer satisfaction, switching barriers and communication had a significant impact on customer retention; customer loyalty, perceived value, perceived corporate image, retention, empowerment and relationship marketing had a significant impact on customer satisfaction; and customer satisfaction, switching barriers, perceived value, customer retention, fees, competitive advantage and relationship marketing had a significant impact on customer loyalty. It is evident that there is a close relation between satisfaction, retention and loyalty as all three influence each other in some way or another.Thesis (MBA)--North-West University, Potchefstroom Campus, 2013.
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Bergman, Louise, and Dina Hatab. "Lojalitet och kundnöjdhet : En fallstudie om hur hotellreceptionister arbetar med lojalitetsprogram." Thesis, Örebro universitet, Restaurang- och hotellhögskolan, 2016. http://urn.kb.se/resolve?urn=urn:nbn:se:oru:diva-51927.
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Bailey, Christine R. "How companies use customer insight to drive customer acquisition, development and retention." Thesis, Cranfield University, 2008. http://hdl.handle.net/1826/3197.
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In theory, Customer Relationship Management (CRM) technology and processes should
help firms to identify the ‘right’ customers, understand their needs, predict their
behaviour and develop tailored propositions. Yet numerous studies have found that
CRM projects have failed to deliver the expected benefits. Academics and practitioners
have begun to refer to a key resource required to fulfil the promise of CRM as
‘customer insight’.
Project one explores how companies use customer insight to drive customer acquisition,
retention and development and proposes a theoretical framework for actioning customer
insight. Five case studies with UK-based large companies were undertaken, involving
25 in-depth interviews. Companies were found to be synthesising data from five areas:
competitors, customers, markets, employees and channel partners. From this data they
are generating four types of customer insight: market predictions, customer segments,
propensity models and customer analytics. This insight is guiding strategy, operations,
marketing, sales, product portfolio management and customer service.
Project two explores a particularly promising area of practice uncovered in project one,
namely how customer insight is used in inbound service call centres to drive crossselling,
up-selling and retention. Empirical research into this practice of sales through
service is sparse. A cross-sector multiple-case exploratory study of six UK-based
organisations was undertaken, using interviews and agent observation. Customer insight
in the form of predictive models delivered to agents’ screens appears to improve the
effectiveness of sales through service. Contrary to common practitioner concerns,
insight-based sales offers can have a positive impact on satisfaction, and introducing
sales through service does not necessarily increase average handling time. Agents are
more likely to make successful offers if they believe that they are ‘doing the right thing’
for the customer. A balanced set of targets covering productivity, satisfaction and sales
seems important for agents combining sales and service roles. Further research is
needed to validate and refine the seven propositions generated.
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Mgbemena, Chidozie Simon. "A data-driven framework for investigating customer retention." Thesis, Brunel University, 2016. http://bura.brunel.ac.uk/handle/2438/13175.
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This study presents a data-driven simulation framework in order to understand customer behaviour and therefore improve customer retention. The overarching system design methodology used for this study is aligned with the design science paradigm. The Social Media Domain Analysis (SoMeDoA) approach is adopted and evaluated to build a model on the determinants of customer satisfaction in the mobile services industry. Furthermore, the most popular machine learning algorithms for analysing customer churn are applied to analyse customer retention based on the derived determinants. Finally, a data-driven approach for agent-based modelling is proposed to investigate the social effect of customer retention. The key contribution of this study is the customer agent decision trees (CADET) approach and a data-driven approach for Agent-Based Modelling (ABM). The CADET approach is applied to a dataset provided by a UK mobile services company. One of the major findings of using the CADET approach to investigate customer retention is that social influence, specifically word of mouth has an impact on customer retention. The second contribution of this study is the method used to uncover customer satisfaction determinants. The SoMeDoA framework was applied to uncover determinants of customer satisfaction in the mobile services industry. Customer service, coverage quality and price are found to be key determinants of customer satisfaction in the mobile services industry. The third contribution of this study is the approach used to build customer churn prediction models. The most popular machine learning techniques are used to build customer churn prediction models based on identified customer satisfaction determinants. Overall, for the identified determinants, decision trees have the highest accuracy scores for building customer churn prediction models.
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Bäck, Eneroth Moa. "An analysis of customer retention using data mining." Thesis, KTH, Skolan för elektroteknik och datavetenskap (EECS), 2018. http://urn.kb.se/resolve?urn=urn:nbn:se:kth:diva-235709.
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This thesis aimed to answer the question whether the use of third-party applications, in addition to the original product, have an impact on customer retention at a digital rights management company. The research originated in the null hypothesis that there is no relationship between the dependent variable customer retention and the independent variable usage of third-party applications. To evaluate whether the hypothesis can be rejected or not, the relationship between the two variables was analyzed using logistic regression. The result showed that there was a positive impact, for the chosen set of included variables. Consequently, the conclusion was that there could be a potential positive correlation between the two variables and the null hypothesis could, therefore, be rejected.Detta examensarbete hade som målsättning att svara på frågan huruvida användandet av tredje-parts-applikationer, utöver användandet av originalprodukten, har en inverkan på kundlojalitet hos ett företag som arbetar med att hantera digitala rättigheter. Studien utgick ifrån nollhypotesen att det inte finns en relationen mellan den beroende variabeln kundlojalitet och den oberoende variabeln användandet av tredje-parts-applikationer. För att kunna utvärdera huruvida hypotesen kan förkastas eller inte, analyseras relationen mellan detvå variablerna med hjälp av logistisk regression. Resultatet visade att att det fanns en positiv inverkan för valt dataset. Följaktligen var slutsatsen att det potentiellt skulle kunna finnas en positiv korrelation mellan de två variablerna och nollhypotesen kunde därför förkastas.
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Ahmad, Rizal. "Customer retention management : influence of context on practice." Thesis, University of Manchester, 1999. http://ethos.bl.uk/OrderDetails.do?uin=uk.bl.ethos.493955.
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This thesis reports a study that investigated customer retention practices in four business contexts: a bank; a sales company; a chemical processing company; atid an airport. The main objective of the study is to understand the 'contextualised' phenomena associated with customer retention management and in particular the influences of contextual factors on the firms' customer retention practices, in addition, the study examined the applicability of current theory to the four firms.
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Madzivhandila, Rofhiwa. "Investigating factors affecting customer retention at Nedbank South Africa." Thesis, Nelson Mandela Metropolitan University, 2013. http://hdl.handle.net/10948/d1020100.
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The banking sector plays an important role in the economy of any country across the world. The recent financial crisis shows how much of the world’s economy is influenced by the banking sector. There are different roles that banks play in contributing to the operation and growth of an economy. Their role spreads from that of intermediary to that of provider of payment clearing services. Banks are an important and integral part of any economy. According to a study by Greenberg & Simbanegavi (2009), the South African banking sector is fertile ground for high levels of competition amongst its players. This competition is important for the proper working of the modern economy. According to Van Leuvensteijn et al. (2008), because banks act as the main vehicle for monetary policy, reduced competition in the banking sector can hinder the efficiency of monetary policy. As a result of the competition in the banking sector, customer retention is a key component of banks’ strategies in today’s market. The main aim of the study was to investigate factors affecting customer retention at Nedbank South Africa. The study focused on the institutional causes of bank customer defection and sought to investigate the effects of three factors (Customer service quality, Satisfaction with product, and Switching costs) on Customer Retention. This study showed the importance of customer retention and more importantly how the mentioned three factors affect customer retention at Nedbank South Africa. One of the highlights that came out of this research was that 50 perscent of the respondents were either considering closing their account or were likely to close their account within the next 12 months. In conclusion, these three factors were found to be important in the customer retention strategy of the bank. Recommendations were presented by the author on how to integrate the factors into a retention framework that can contribute to the profitability of the bank. Areas of future research that can be helpful to the bank were also highlighted by the author.
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Datta, Palto Ranjan. "Relationship marketing and customer retention in Bangladesh's food retailing sector." Thesis, University of Hertfordshire, 2017. http://hdl.handle.net/2299/19697.
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The context of this study is Bangladesh`s food retailing sector. The main purpose of this study is to investigate the relationship between Customer Relationship Marketing (CRM) and customer retention. Since Independence in 1971, Bangladesh has made solid progress and made substantial improvements in its economy, with GDP growth of 5-6% consistently over the past decade. With the real economic growth coupled with rapid urbanisation, the country has witnessed a new form of organised retailing that started to emerge in early 2000. This organised retail format is undergoing a period of unprecedented expansion, something that is driving additional demand and as well as creating opportunities for further enterprise. There are clear signs of substantial and potential growth in future. The economic growth coupled with the growth of urbanisation, changes in demographic factors, increases in employment and income levels has had a profound influence on consumers shopping behaviour and hence, Customer Relationship Marketing. The core aim of Relationship Marketing is to build a long lasting mutually bonded relationships with customers and various other important stakeholders. The concept has attracted considerable attention among scholars in recent decades and has appeared in service marketing literature as a new marketing paradigm. The concept is considered to be critical to the success of any organisation as it has been an accepted phenomenon that maintains that existing customers are far easier to retain than is the process of acquiring new customers. In order to stay in business and cope with the challenging business dynamism, organisations are continuously searching for reliable and serviceable strategies to be employed in order to increase customer retention. However, there is a lack of an accepted level of consensus among researchers on the core antecedents of relationship marketing that can be used to achieve the above aims, especially while the concept is new in the context of organised retailing sectors in Bangladesh. In response, this thesis developed a conceptual framework of customer retention strategy to conduct an empirical investigation in one holistic model: (i) the relationships between relationship quality and customer retention; (ii) how bonds influences the relationship quality? As well as (iii) the effect of CRM on customer loyalty and retention. The model incorporates bonds, service quality and components of relational quality (Trust, commitment and satisfaction) into one relationship model to show the relationship between these five constructs and customer loyalty and finally the independent variable of customer retention. The model establishes eleven hypotheses to understand the relationships between various constructs. Furthermore, in order to understand the intensity of grocery food consumers loyalty, Oliver`s Four Stages loyalty model was used. A sample of 202 grocery food retail customers were selected in a random sample from four selected superstores located in Dhaka, the capital of Bangladesh. Data were collected via mail questionnaires. The questionnaires content validity was tested by conducting a pre-test of 50 households before conducting the final survey. The results support hypothesized relationships built on the model. Correlation analysis indicates that all the coefficient correlate significantly except commitment that shows the least strengths of the correlation coefficient. Nevertheless, correlations were statistically significant. Therefore, all eleven hypotheses are confirmed to some degree. The findings indicate that service quality, trust, bond and customer satisfactions are vital for creating positive customer loyalty which in turn creates customer retention. In regards to the intensity of four types of loyalty (cognitive, affective, co-native and action) results indicate that the intensity of cognitive loyalty was higher than affective loyalty, co-native and action loyalty. Co-native loyalty is also higher than action loyalty. This thesis provides evidence for the first time in Bangladesh of various linkages between bonds, service quality, relationship quality, loyalty and retention and hence, contributes to both theoretical and practical knowledge. The findings suggest that by employing adequate service quality provisions and bonds it is possible to enhance and build quality relationships between parties.
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Gouws, Nadia. "Identifying factors that influence customer retention in a South African retail bank." Thesis, North-West University, 2012. http://hdl.handle.net/10394/9032.
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Customer retention plays a pivotal role in contributing to the profitability of retail banks. Within this extremely competitive market it necessitates retails banks to follow a structured, data-driven approach to identify “at risk” customers and to launch proactive retention campaigns based on identified drivers of customer attrition.
The following main drivers of customer attrition were identified in the retail bank:
Attrition decrease as Vertical Sales Index increase.
Attrition is lower where customers receive their salary in a BANKXX account.
Attrition decreases as duration increases.
Black and Coloured have a higher attrition rate than White and Asian.
A literature review was conducted to identify the possible independent variables of customer retention and the concept of the profitable customer was addressed throughout proposed conceptual model was developed, signifying the best fit to identify drivers of customer retention in the retail bank.
The analytical tool, SAS was used for data collection and statistical analyses of the data. This high-performance analytics assisted in providing the retail bank with valuable insight into how to successfully manage risk, retain profitable customers, improve operational efficiency and differentiate them in the marketplace for competitive advantage.Thesis (MBA)--North-West University, Potchefstroom Campus, 2013.
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Burnham, Thomas Adams. "Measuring and managing consumer switching costs to improve customer retention in continuous services /." Digital version accessible at:, 1998. http://wwwlib.umi.com/cr/utexas/main.
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Kuranchie, Frank Kojo. "The Effect of Customer Relationship Marketing on Customer Retention in the Ghanaian Banking Sector : A case study of Intercontinental Bank Ghana Limited." Thesis, Blekinge Tekniska Högskola, Sektionen för management, 2010. http://urn.kb.se/resolve?urn=urn:nbn:se:bth-1102.
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Abstract Customer relationship management as a strategic marketing concept has gained tremendous interest among researchers and practitioners in recent times. Within the last two decades a significant number of research works have been carried out on various issues relating to customer relationship management. However, few empirical studies on market orientation and performance have been established in the Ghanaian banking sector. In an effort to contribute to the existing customer relationship management literature, a study of Intercontinental bank Ghana was conducted. A framework of customer relationship management was designed to guide the study. Specifically, this study examines the customer relationship marketing strategies of banks in a developing country like Ghana using Intercontinental bank as a case study. The study employed quantitative research techniques. Semi-structured questionnaire was designed for the study. The findings show that the bank is doing well by maintaining the relationship it initiates with its clients but must work on improving the number of contact time with them as e-CRM provides them with the opportunity to do so. However, a significant finding from the study is the realization that majority of respondents were willing to recommend the bank to others an indication that they were happy with the level of service at the bank. Although significant portion of those who considered the possibility of leaving indicated that they will do so because of delayed transactions. It is in the light of this that the research is said to play a significant role in the banking sector and for the nation as a whole.P.O.Box 3077, Kaneshie, Accra Ghana. 0233 244184980/0233 271015288
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Farquhar, Jillian. "Customer retention in retail financial services : an exploratory study." Thesis, University of Leicester, 2002. http://hdl.handle.net/2381/4616.
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This investigation is concerned with how financial services retailers approach the retention of customers. Markets for financial services have become saturated, competition has become fiercer and consumers have gained greater confidence in the consumption of financial services. Traditional retailers of financial services have begun to look to their existing customers to maintain and improve their profitability in these turbulent times. They hope that by retaining selected customers, they will be able to lower their costs by cross-selling financial products. In spite of considerable practitioner interest in customer retention, to date there is limited empirical study, in particular, into how retaining customers might actually be achieved. This study adopts a pluralistic methodology and uses the perceptions of staff working for financial services retailers to build a picture of how retention is organised. Interviews with managers and two surveys are conducted to gather the data, which are then evaluated within a framework of contemporary marketing. The study finds that there are a number of aspects involved in retaining customers that include information systems and strategy. The results of the investigation also suggest that these retailers are organised around the acquisition of customers and that balancing retention with acquisition may prove challenging.
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FERREIRA, JORGE BRANTES. "DATA MINING APPLIED TO CUSTOMER RETENTION IN WIRELESS TELECOMMUNICATIONS." PONTIFÍCIA UNIVERSIDADE CATÓLICA DO RIO DE JANEIRO, 2005. http://www.maxwell.vrac.puc-rio.br/Busca_etds.php?strSecao=resultado&nrSeq=7070@1.
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CONSELHO NACIONAL DE DESENVOLVIMENTO CIENTÍFICO E TECNOLÓGICOO objetivo desta dissertação é propor um sistema de mineração de dados completo para a solução de problemas de retenção de clientes, presentes nas mais variadas indústrias. Tal solução reside na correta identificação, em meio a gigantescas bases de dados, dos clientes cujos perfis e históricos de comportamento denotam que sua saída da empresa é iminente. Agindo então sobre a inteligência gerada a partir desta classificação de clientes, incentivos e ações de retenção devem ser postos em prática para evitar e/ou minimizar a perda para algum concorrente de clientes valiosos. Ao longo do processo de mineração de dados, deu-se atenção ao processo de preparação e representação dos dados e métodos de seleção de variáveis, na tentativa de melhorar e otimizar o desempenho dos modelos a serem estudados. Vários modelos diferentes foram testados, otimizados e comparados na tarefa de classificação de clientes como aqueles que permanecerão na empresa ou aqueles que apresentam riscos de abandono. Entre os modelos estudados estão: redes neurais, sistemas neuro-fuzzy hierárquicos, algoritmos genéticos, árvores de decisão e máquinas de vetor de suporte. Em particular, avaliou-se a questão do abandono de clientes (churn) na indústria de telecomunicações móvel brasileira, devido à disponibilidade de dados reais para a análise. Foi feito um estudo abrangente do problema do churn, identificando suas causas, conseqüências e detalhes. Conclui-se com uma análise do impacto da implementação da metodologia proposta em ações de retenção de clientes, sob o prisma da lucratividade ou corte de despesas em que tal utilização implicaria.
The goal of this work is to propose a complete data mining system for the solution of customer retention problems, commonly found in many industries. Such a solution encompasses the accurate identification among huge amounts of data of those consumers who would most likely end their relationship with the firm, based on their historical behavior and individual profile. Acting upon the intelligence provided by a precise customer classification, incentives and retention actions should be put into practice to prevent or minimize the losses of valuable clients to competitors. Throughout the data mining process designed here, great care was given to the preparation and representation of the data and to input selection methods, in an effort to optimize the performance of the classification models. Various different classification techniques have been tested, with the objective of finding the one best suited for the task at hand: to pinpoint those customers who present clear risks of abandoning the analyzed company. Among the studied models were neural networks, decision trees, genetic algorithms, neuro-fuzzy systems and SVMs (Support Vector Machines). As a case study, the issue of churn (loss of customer to a competitor) in the Brazilian wireless telecommunications was tackled, due to the availability of data. A detailed study was made, identifying the causes, consequences and details of the business problem. As a conclusion, the great impact of the implementation of the proposed system in retention strategies of wireless carriers is evaluated, under the view of the profitability that would be generated by its use.
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Slabbert, Gabriel Johannes. "Facilitating customer retention in hotels in the Garden Route." Thesis, Nelson Mandela Metropolitan University, 2010. http://hdl.handle.net/10948/1552.
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Over the past few decades, customer satisfaction, customer retention and policies and procedures to sustain the above mentioned, have earned great amount of lip service. The importance of satisfied customer percentage have been emphasized by theories even longer before the best advised companies have done so. It is only recently, on the eve of the Soccer World cup 2010 that the issue has been narrowed down to truly hard relationships and one hard question: “Will the guest visiting the hospitality establishment frequent the hotel?” Two vital financial catalysts were used as basis for customer retention. The first is that of old customer’s costs much less than acquisition of new ones and the profit generated from the retained customer must therefore handsomely exceed the harvest reaped from the new clientele. Retaining customers have become an intangible asset in the sense that their value demonstrates the return that is won by successful efforts to satisfy the customers so greatly that they and their custom literally and figuratively stays with you. South Africa has lured even the loneliest traveller to the scenic beauty that is cradled by the country and its surroundings. When taking the former into consideration, South African businesses have enjoyed an increased appreciation and application of Business Management and its accompanying principles. The hospitality industry should therefore embrace the business management principles with specific emphasis on Total Quality Management (TQM); providing managers with the capacity to think strategically about the organisation, its business position, how it can gain sustainable competitive advantage and how its business management strategy can be implemented and executed successfully. The latter forms the basis for ensuring the smooth running of operations and ultimately, ensuring guests have a wonderful experience at the particular establishment. There is a strong belief that lodging facilities in the Garden Route area has experienced low customer retention due to a lack of comprehensive implementation of Total Quality Management principles which impedes on the establishments to reach their optimum profit levels. It is for this reason that this thesis will argue the importance of the systematic client retention as a strategic mandate in today’s service markets. Commercial reality demand long and lasting relationships that are beneficial to both the hospitality related establishment and their customers. The hypothesis used is the application of Total Quality Management as a Business Management Strategy which will facilitate customer retention in hospitality related industries such as hotels situated in the Garden Route area. Research shows that service expectations of customers and potential customers have escalated. Hospitality businesses found that implementation of quality processes to be a vital competitive component. However, many hotels are still struggling to reach a real understanding of what is meant by TQM. The research data indicates that 93 percent of hotels in the Garden Route do not follow a TQM program although all the hotels were familiar with the concept. This might be the reason why most hotels neglect customer retention activities. The literature reviewed in chapter two considers the customer retention activities evaluated in the questionnaire as important to retain guests. Hotels in the Garden Route do not perform these activities to the extent of success. Hotel managers thus know what to do in order to retain guests but the problem is quite simple, they do not always implement the necessary strategies.
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Yam, Bonga Sherperd Elvis. "Factors affecting customer retention at an automative manufacturing organisation." Thesis, Nelson Mandela Metropolitan University, 2013. http://hdl.handle.net/10948/d1018573.
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South African vehicle manufacturers are under immense competition from vehicle manufactures from India and China. The global financial crises also put these organisations under intense pressure and this resulted in these organisations having to start seeing the need to focus on issues that affect customer retention. The way that business is done in the 21st Century is forcing organisations to implement strategies that are geared towards increasing customer retention and growing the business. Organisations need to build relationships with their customers with the hope that these customers will in turn extend their stay with the organisation when an opportunity to replace their vehicles arises or keep on servicing with them. In order to establish a good relationship with customers, organisations need to understand customer expectations by being customer orientated and by providing customers with value. The primary objective of this study is to improve customer retention for a selected vehicle manufacturer after the warranty and service plans have expired, by investigating the relationship between customer service quality, customer loyalty, and customer retention. The results obtained from the 64 respondents who participated in the survey revealed that although all the above-mentioned variables play a role in increasing customer retention, customer service quality exerts the most influence. The study also highlights areas that should be improved, as well as recommendations on how to improve them. Recommendations for future research are also provided.
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Dippenaar, Hendrik. "Factors influencing customer retention in the financial planning industry." Thesis, Nelson Mandela Metropolitan University, 2013. http://hdl.handle.net/10948/d1020809.
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As financial planners operate in a competitive business environment, it is important to identify how financial planners can apply relevant industry aspects to positively influence their customer satisfaction and customer retention levels. Although models of customer satisfaction and subsequently customer retention have been well researched for consumer products and services, there has been limited research in regards to financial planning. Previous research in the financial planning industry focussed on specific elements of financial planner-client relationships, for example trust, integrity and ethics. This research study reviews existing literature on customer satisfaction and customer retention, as relevant to the financial planning industry. Thus the primary objective of this study is to investigate the extent to which the four predetermined independent variables; namely, two-way communication, ethical responsibility, clients’ financial knowledge and commission fees can possibly influence the intervening variable customer satisfaction and ultimately the dependent variable customer retention in the financial planning industry. An empirical investigation was undertaken to establish whether the independent variables; namely, two-way communication, ethical responsibility, clients’ financial knowledge and commission fees can possibly influence customer satisfaction and ultimately customer retention in the financial planning industry. A positivistic research paradigm was followed for this study. Quantitative data was gathered by distributing questionnaires to a sample of financial planning clients. The sample size consisted of 250 financial planning clients in the Nelson Mandela Metropolitan area. A response rate of 76.40 percent was achieved. The usable questionnaires were statistically analysed using the computer programmes Microsoft Excel and Statistica Version 10. The validity of the study was confirmed by utilising EFA. Cronbach’s alpha coefficients were calculated to confirm the reliability and the internal consistency of the measurement instrument of this study. Data was analysed in four phases. Descriptive statistics were calculated for this study. The validity of the measuring instrument was tested by performing EFA to consider construct validity. Thereafter the internal reliability of the data was assessed using Cronbach’s alpha coefficients. Pearson’s product moment correlation coefficients and multiple regression calculations were calculated and discussed. Through multiple regression calculations, the factors that emerged were used to analyse the relationships predicted by the five hypotheses. Finally t-tests and analysis of variance (ANOVA) tests were conducted and discussed. The empirical investigation revealed that significant relationships exist between the independent variables two-way communication, ethical responsibility, commission fees and the intervening variable customer satisfaction as well as the dependent variable customer retention. The empirical investigation revealed that if a financial planner communicates financial information accurately and understandably to clients while acting in an ethical manner, clients are likely to be satisfied with the products/services of the financial planner and be retained by the financial planner. This study established and confirmed the significant positive relationship that exists between customer satisfaction and customer retention in the financial planning industry. Recommendations have been provided based on the main empirical findings. All financial planners in South Africa, including all the regulatory bodies, will benefit from the empirical findings as well as the recommendations of this study on how to improve customer satisfaction and customer retention which will ultimately increase service delivery of financial planners in the financial planning industry.
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Lennie, Graeme Mark. "Retention strategies for skilled SARS customs employees." Thesis, Nelson Mandela Metropolitan University, 2008. http://hdl.handle.net/10948/999.
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The South African Revenue Services (SARS) is an amalgamation of the former Departments of Customs and Excise, and the Receiver of Revenue. SARS obtained full autonomy from the Government in October 1997 in order for it to administer its own affairs. SARS has since made great strides in transforming its people and technology, although some growing pains are recently being experienced, i.e. the “retention question”. The problem statement, “What strategies can be implemented for retaining skilled employees within SARS Customs” is derived from a multitude of problematic issues currently being experienced world wide. Problem areas particular to South Africa, include: the mass exodus of white skilled labour; baby-boomers (aged 60 – 65) nearing retirement, affirmative action, employment equity, and a general lack of skills in the employment industry. An employee engagement survey (2007) conducted at SARS, shows figures that further exacerbates the problem. The objectives of the research were therefore, to conduct a literature study of employee retention strategies, investigate the research strategies currently being employed at SARS, the reasons for the low levels of employee engagement and to develop a strategic model for employee retention for use at SARS Customs in the Eastern Cape Region of South Africa The study takes the form of a case study, using quantitative and qualitative methods of research. A questionnaire was distributed to respondents, the results of which were analysed and presented. The findings show that SARS Customs is in a good position with regards to pay and benefits. Areas that require attention though are training, development and career management, effective supervision, and day-to-day activities.
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Lyttle, Brooke Ellen. "The Influence of Customer Relationship Management to Customer Satisfaction and Retention in Propery and Casualty Insurance." Cleveland State University / OhioLINK, 2008. http://rave.ohiolink.edu/etdc/view?acc_num=csu1210797828.
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Shanahan, Yvonne Petronella. "A Contingent Examination of Strategy-Cost System Alignment: Customer Retention and Customer Profitability Analysis." Thesis, University of Canterbury. Accountancy, Finance and Information Systems, 2002. http://hdl.handle.net/10092/865.
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This research undertakes a contingency theory examination of strategy and cost system alignment based on customer retention and customer profitability analysis. Previous research and consultancy advice has promoted the benefits of a firm following a customer retention strategy. They claim that in order to support the strategy a firm should have a customer profitability analysis system in place. Yet often what is prescribed as good practice is not observed in firms. This inconsistency is explained using contingency theory. Initial qualitative evidence was collected from four industry sites to determine whether the above strategy-cost system alignment was present. An analysis of these findings suggested that the customer retention-customer profitability analysis system relationship was contingent on a range of factors. As a result, a contingent theory of this relationship was developed from the four sites, and this theory was then tested in a survey of 862 people from 431 firms. The survey results provide support for the propositions developed from the qualitative evidence. It is likely that firms will follow multiple operational marketing strategies and have cost management systems in place to support those strategies. Although customer retention is a very important operational marketing strategy, a significant number of firms do not have customer profitability analysis systems in place to support the strategy. Many contingent factors were identified. Customer profitability analysis implementation is dependent on industry type; size; the difficulties involved in determining customer costs; whether the organisation has a champion for the system; the relationship between the marketing and accounting functions in a firm; and the available labour resources to facilitate implementation. Further, it is apparent that customer profitability analysis information is not essential to support a customer retention strategy. Customer revenue information can be substituted and the firms are satisfied with the level of management accounting system support for their operational marketing strategies. However, many respondents see the value of customer revenue, customer cost and customer profitability information, providing opportunities for future design of such systems as well as research into their development.
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McCrory, Barbara. "Customer retention through the equal incorporation of continuous improvement (CI), culture and customer service." Thesis, Edinburgh Napier University, 2013. http://researchrepository.napier.ac.uk/Output/6439.
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Customer retention has long been considered an important element in achieving competitive advantage for business organisations. The increasingly turbulent economic environment has brought this again to the fore for many organisations. Through the development of a practice based guiding framework for the improvement of customer retention this study investigates the complex relationship between the concepts of customer service, continuous improvement and organisational culture across a variety of business sectors. Drawing from a systematic literature review, initial links were made between the concept of using the 4P cycle of continuous improvement and the key elements of world class service as tools of understanding. The main study involved the use of the Delphi technique, through which a qualitative and systemised approach to data gathering was achieved using semi-structured and structured interviews and utilising the findings from each set of interviews to inform the following set of interviews. Three rounds of interviews took place with 9 industry experts across different sectors, with the investigation taking a director level review. After the first two rounds of interviews the framework for customer retention was developed and introduced to the participants for evaluation before the final interview stage. The findings from the study show that the proposed framework is a workable tool, however in order to fully benefit from its use, specific organisation contextualisation is required and should be supplemented by the gathering and utilisation of customer research, the development of a holistic company approach to customer retention involving all organisational departments and the empowerment of employees. Further, the study shows that buy in is required from all senior management and that overall buy in would be aided by open communications within the business. Overall there was a consensus that employing the right person was vital to customer retention and ultimately the success of a company. The usefulness of the application of the practice based guiding framework, though beyond the scope of this study, was also addressed through the participants own use of some of the study findings within their current roles across a variety of business sectors.
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Lin, Chien-Chiang. "Evaluating effects of customer satisfaction, customer loyalty and store image on customer retention: an examination in retail setting." Thesis, University of Manchester, 2005. http://ethos.bl.uk/OrderDetails.do?uin=uk.bl.ethos.488381.
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Gurbag, Ali, and Valuis Guadalupe Katherine Morales. "Increasing the efficiency of marketing e-mail in customer retention." Thesis, Högskolan i Jönköping, Internationella Handelshögskolan, 2016. http://urn.kb.se/resolve?urn=urn:nbn:se:hj:diva-30301.
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Technology development has changes many things in the way businesses are done nowadays. Compa-nies needed to readapt their processes to the new demands of the markets in order to be competitive in online platforms. To achieve this, companies need to focus on retaining customers. E-marketing has developed many tools for this purpose, e-mail marketing has proven to have advantages in this task; however, sometimes the outcome is not as good as expected, mainly because the content and struc-ture isn’t what customers want to see or don’t fulfill their expectations.The purpose of this study is understand which are the factors that make customers avoid marketing e-mails and how they can be restructured to increase the probabilities to encourage customers to revisit again the same brand.Regarding the method, quantitative approach was used and the statistical data was collected with online survey. Survey questions are prepared based on previous literature and factors mentioned in literature. Results are collected from a sample which contains 120 people. In order to analyze the col-lected data, descriptive analysis and principal component analysis techniques are used.After analysis, researchers concluded that not all factors which influence ignoring decision have same effect. On the other hand, during decision of revisit the brand because of the marketing e-mails, each segments in the sample have different preference and companies which use marketing e-mail should structure their e-mails regarding to that data.
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Le, Roux Jan Nicholaas. "The dynamic linkage between customer satisfaction, retention and profitability : the nuclei drivers of success." University of South Africa, 2009. http://hdl.handle.net/10500/155.
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Abstract
“Customer Satisfaction” has many dimensions. The purpose of this research is to explore
these dimensions briefly (using the Service Value Chain concept) and to determine the
fundamental drivers of success in customer satisfaction from the perspective of a service
organisation.
Employees proved to be the pivotal element influencing the outcome of customer
satisfaction, as they influence organisational behaviour, customer experience and business
profitability. The outcome of the research also promotes the idea that organisations need to
become customer - orientated, which requires organisational cultures to change.
“Nuclei Drivers of Success in Customer Satisfaction” 3
Two noteworthy results were obtained from this research, which is viewed by the author as a
significant contribution to the Service Value Chain. The two specific findings are the
empirical evidence in the results of the relationship between Staff Defection and Customer
Satisfaction and the relationship between Customer Satisfaction and Organisation
Profitability.
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Xaluva, Bongiwe Lumka. "Improving customer retention at a selected medical fund through internal service quality and customer relationship management." Thesis, Nelson Mandela Metropolitan University, 2012. http://hdl.handle.net/10948/d1008118.
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In today’s competitive arena, organisations need strategically to shift their focus from primarily concentrating on new customer acquisitions and rather to realise the importance of improving customer defections, thus looking at strategically retaining the existing customer base. Customer retention to all intents and purposes reflects the core of any service offering organisation and drives the competitiveness and viability of the business. Customer retention is a concern for all sector organisations including the medical aid schemes industry. It has been proven that retaining customers is less costly than attracting new ones and through a satisfied customer a business can elevate its competitiveness in the market. The significance of the study hinges on the importance of each business having comprehensive knowledge of why customers remain loyal patrons or why they choose to defect. It is important to note that the financial resources and time the business expends on improving service to the customer become futile if not matched by the high performance of the internal business units’ strategies. Having an understanding of customer movement will assist the organisation in properly addressing such issues and employing strategic processes that will enable the business to improve its retention strategies and curb defections. The primary objective of the current study was to investigate the impact internal service quality and customer relationship management have on customer retention. The study employed the SERVQUAL model as a measuring tool in establishing the relationship. The study investigated how customer retention (the dependent variable) is influenced by the different elements of internal service quality, namely assurance, empathy, service reliability, responsiveness, tangibles and elationship management, which represented the independent variables. The sample comprised eighty-one (81) out of a possible 130 AA Medical Scheme participants through the organisation’s four national offices. The empirical results showed that of all the variables relationship management, responsiveness and the tangibles have a positive impact on customer retention in medical aid schemes.
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Selivanova, Olga. "Building Loyalty in Consumer Markets." Master's thesis, Vysoká škola ekonomická v Praze, 2009. http://www.nusl.cz/ntk/nusl-18103.
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In the first chapter this thesis summarizes all different viewpoints of marketers and other experts in business concerning customer loyalty definition. The second chapter discusses a role customer loyalty plays in business of companies. By selecting appropriate definition of customer loyalty, the purpose of this thesis would be to describe all benefits associated with customer loyalty and suggest solution for their expression in economic terms. These topics are discussed in Chapter 3 and 4. In addition in Chapter 5 and Chapter 6 management of customer loyalty and its determinants will be introduced. By selecting those determinants, which are hidden behind customer motivations to purchase company's products or services, and by managing them, company is able to build customer loyalty and enjoy all associated benefits in a form of increased profitability of its business. Finally in the last chapter loyalty programs and their management are discussed, because they are often used as tools to encourage customer loyalty. All these findings are demonstrated in a case study of Palac Flora, a shopping mall in Prague, which introduced its loyalty program a couple of years ago. The final part of this thesis is devoted to conclusion and bibliography.
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Nordlöf, Jessica, Matilda Svensson, and Emily Frost. "Relationship Marketing in the Travel Industry : A Two Sided Perspective." Thesis, Jönköping University, JIBS, EMM (Entrepreneurship, Marketing, Management), 2010. http://urn.kb.se/resolve?urn=urn:nbn:se:hj:diva-11560.
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The purpose of this thesis is to analyze how Stockholm based travel agencies understand and use relationship marketing and how it is perceived by customers.
Relationship marketing is defined by Grönroos as a building of relationships with customers to achieve mutual benefits. Four main objectives of relationship marketing were used to contextualise the term: service quality, personalisation, differentiation, and communica-tion.In order to answer the purpose, the authors have chosen to interview three travel agen-cies that focus on offering tailor made travel for different target groups. Sampling was used to find these travel agencies, as the total number of travel agencies in the Stock-holm area is too large to interview. Also, customers who have travelled with two of the travel agencies were interviewed. Further, several theoretical frameworks are presented in order to provide the reader with a view of relationship marketing, and were used in the design and the questions asked both companies and customers.
From the interviews with the companies it was found that all of them have different views of what relationship marketing is, and that they have different ways of imple-menting it. The views of relationship marketing differ from building a strong brand im-age to managing actual relationships with customers.
The main efforts of relationship marketing that the companies are involved in are delivering personalized travel and high service quality to customers.It was found in the interviews with customers that their view on what makes good ser-vice is similar to that of company views. What is most important to customers is that the perceived quality matches, or exceeds, the experienced one. There are several things that companies can do to attract and retain customers including having rewards clubs, sending out a moderate amount of newsletters, and providing a personal seller for customers.
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Anaman, Michael. "Toward a model of customer experience." Thesis, Brunel University, 2010. http://bura.brunel.ac.uk/handle/2438/5685.
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Retaining high-value and profitable customers is a major strategic objective for many companies. In mature mobile phone markets where growth has slowed, the defection of customers from one network to another has intensified and is strongly fuelled by poor Customer Experience. Trends in the service economy suggest that experience can be exploited as a means of supplying the basis of a new economic offering, ignited in part by the shift that is taking place in the analysis of people’s interaction with digital products. In this light, the research describes a strategic approach to the use of Information Systems as a means of improving Customer Experience. Using Action Research in a mobile telecommunications operator, a Customer Experience Monitoring and Action Response model (CEMAR) is developed that evaluates disparate customer data, residing across many systems, builds experience profiles and suggests appropriate contextual actions where experience is poor. The model provides value in identifying issues, understanding them in the context of the overall Customer Experience (over time) and dealing with them appropriately. The novelty of the approach is the synthesis of data analysis with an enhanced understanding of Customer Experience which is developed implicitly, in real-time and in advance of any instigation by the customer.
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Wu, Chung-yueh, and 吳宗嶽. "The Effects of Relationship Quality and Customers' Expectation on Customer Retention." Thesis, 2006. http://ndltd.ncl.edu.tw/handle/23bh78.
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碩士國立臺灣科技大學
企業管理系
94
Firms are recognizing the value of establishing close relationships with their customers as a means of retaining existing customers. Although relationship quality is recognized as a central construct in the relationship marketing literature, current models of relationship quality only focuses the influence of past experience customer. In this research, we advance the notion that when deciding whether to continue a product or service relationship, consumers not only consider past relationship with the firm, but also incorporate future considerations regarding the service. Results indicate that the evaluation of relationship quality has a positive effect on expected future use, and both the relationship quality and expected future use also affect customer retention positively.
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Chen, Sen-wen, and 陳森文. "The Effects of Switching Barriers and Customers’ Expectation on Customer Retention." Thesis, 2006. http://ndltd.ncl.edu.tw/handle/pzwm5f.
Full textAbstract:
碩士國立臺灣科技大學
企業管理系
94
For both academics and practitioners, the dominant focus of customer relationship management has been customer retention. The benefits of retaining customers to the organization are higher margins and faster growth, derived from the notion that the longer a customer stays with an organization, generally the higher the profit. However, as competition has intensified and markets become saturated, the concern regarding lost customer has grown. As a result, customer retention has indeed become a important factor for firm success. Switching barriers represent any factor, which makes it more difficult or costly for consumers to change providers. Extant literature indicated that switching barriers has significant influence on customer retention. However, the effect of switching barriers to customer retention depends on whether customers can be aware of the anticipated regret derived from the barriers. Our finding indicates that marketing managers ought to establish switching barriers and anticipated regret for customer retention strategies.
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Huang, Siao-Wen, and 黃小紋. "A Study on the Relationship between Switching Barriers and Customer Retention of Commercial Banks’ Customers." Thesis, 2007. http://ndltd.ncl.edu.tw/handle/74167205166198978722.
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碩士國立臺北大學
企業管理學系
95
In recent years, the financial industry in Taiwan suffered from more and more competitions, which resulted from enormous changes in the economic and financial environment. So the banks are eager to create their own competitive advantage. The costs of attracting new customers are increasing, and retaining the existed customers effectively causes the enterprise to attain more benefit instead. Therefore customer retention is a quite important topic. Customer satisfaction is always regarded as the key factor to retain customers, but some evidences reveal satisfaction is not the only one strategy. There are still other factors which influence the customers to choose to stay or not. Dick and Basu(1994) found the relationship between customer satisfaction and loyalty is non-linear. They also suggested switching barriers might be the reason for non-linear existence. We conducted an empirical study in Taiwan’s commercial banks and discussed the relation among switching barriers, customer satisfaction and customer retention. After establishing the motivations and goals of the research and defining the empirical industry, we review literature related to switching barriers, customer satisfaction, and customer retention and develop the framework and hypotheses. In order to examine the hypotheses, we use structural equation model. The findings of research not only develop the connection model among switching barriers, customer satisfaction, and customer retention but also find the relationship in the switching barriers. The findings of research are as follows. (1) Switching costs have direct and positive impacts on customer retention. (2) Social benefits influence customer retention positively through satisfaction. (3) Confidence benefits influence customer retention positively through satisfaction and switching costs. (4) Special treatment benefits have direct and indirect impacts on customer retention. In the indirect effect special treatment benefits influence retention through switching cost.Furthermore, theoretical contributions, empirical conclusions, and future study suggestion are provided in this study.
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Chen, Hong-Jie, and 陳弘捷. "The Effects of Payment Equity on Customer Retention- An Empirical Study of Credit Cards’ Customers." Thesis, 2005. http://ndltd.ncl.edu.tw/handle/23699204571206897661.
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碩士國立東華大學
國際企業學系
93
Abstract The government’s allowing the establishments for the new banks in 1990’s and passing the new laws of financial holding in the beginning of 2001 reflect the situation of a fierce competition in the domestic financial market. Also, these are critical challenge for those operations indirect financial banking services are facing. The purpose of this study was to use the concept of Relationship Marketing to investigate the effect of payment equity on customer retention. The data were collected by using questionnaires from credit cards’ customers, and analyzed using Structural Equation Modeling (SEM). The results indicated that, (1) customer satisfaction did not effects on customer retention directly; (2) the affective commitment was positive related to customer retention; (3) customer satisfaction was positive related to affective commitment; (4) payment equity was positive related to customer satisfaction; (5) payment equity was positive related to affective commitment; (6) payment equity did not effects on customer retention directly; and (7) affective commitment was empirically confirmed to be the mediating variable between payment equity and customer retention.
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Lee, Chia-Chi, and 李家齊. "The Role of Customers'' Future Considerations in Service Retention." Thesis, 2011. http://ndltd.ncl.edu.tw/handle/02724396944502178499.
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碩士國立臺灣大學
國際企業學研究所
99
Due to increasingly lower customer loyalty and higher customer attrition rate in the competitive marketplaces, firms are recognizing the importance of customer retention. Retaining existing customers has been an important key factor for firm to lower marketing cost and enhance competitive advantages. Although relationship quality is recognized as a essential construct in the relationship marketing literature, current models of relationship quality mostly focuses the influence of customer past experience, ignoring customers’ psychological mechanism. With data collected from chained health clubs and SEM analysis, this research investigates the roles of customer future considerations in relationship quality-customer retention relationships. Results suggest that relationship quality positively affect the customer retention, while expected future use and anticipated regret mediate and moderate such relationships. Managerial implications and suggestions for future research are then discussed.
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JIANG, MING-FONG, and 江明峰. "The Incorporation of Customers’ Future Considerations into the Service Retention Decision." Thesis, 2006. http://ndltd.ncl.edu.tw/handle/p97775.
Full textAbstract:
碩士國立臺灣科技大學
企業管理系
94
Customer retention has become a very important topic for companies due to increasingly lower customer loyalty and higher customer attrition rate nowadays. From either cost or profit aspect, it’s quite clear that lowering customer attrition rate and maintaining current customers isn’t only the key for service provider’s business continuance, but the critical tool to enhance the competitive advantage and gain long-term profit. Many practical and theoretical models of customer retention have explored satisfaction as a key determinant in customer’s decisions to keep or drop a given product or service relationship. However, current models have not incorporated a customer’s future orientation. Therefore, this study tries to examine the influence of customer future-focused considerations on the customer’s decision to continue a service relationship, as well as to explore the role of future-focused considerations in the customer retention model. Our results indicate that marketing managers ought to pay more attention on customer future-focused considerations and probe customer expectations for their future benefits. Understanding and managing these future-focused considerations is critical to successfully customer relationship management.
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"The impact of customer's satisfaction and loyalty on customers retention in the mobile telecommunications service an integrative model." Tese, MAXWELL, 2003. http://www.maxwell.lambda.ele.puc-rio.br/cgi-bin/db2www/PRG_0991.D2W/SHOW?Cont=4099:pt&Mat=&Sys=&Nr=&Fun=&CdLinPrg=pt.
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