Get the complete project »
- The Complete Research Material is averagely 78 pages long and it is in MS Word Format, it has 1-5 Chapters.
- Major Attributes are Questionnaire, Data Analysis,Abstract.
- Study Level: BTech, BSc, BEng, BA, HND, ND or NCE.
- Full Access Fee: ₦4,000
The article on this topic (impact of customer satisfaction strategies on consumer retention in First bank Nigeria) is an extract from literature review of the project material. The complete project work would be made available when you subscribe for the full material.
The Concept of Customer Retention
Customer Retention is a marketing tool used in creating customer’s loyalty in order to retain them (Morns, 2007). However, Dennis (2008) opined that customer retention involves creating customer value through the improvement of products and services in order to satisfy customers so that an organization can retain their existing customers.
The best customer retention programs proactively analyze customer behavior in order to identify and address at risk customers before they defect. However, when the loyalty program is not successful, it is usually up to the contact center to “save” the customer. Effective customer retention programs are enabled by customer relationship management (CRM) and analytics solutions. Formal and informal contact centers need these underlying systems in order to serve as the first line of defense for businesses of all sizes-small, mid-market and enterprise that threatened with losing their customers to competitors (Okoh, 2009).
Customer Retention Strategies
Customer retention strategies are the techniques that an organization undertakes in order to reduce customer defections. Successful customer retention starts with the first contact an organization has with a customer and continues throughout the entire lifetime of a relationship. A company’s ability to attract and retain new customers, is not only related to its product or services, but strongly related to the way it services its existing customers and the reputation it creates within and across the marketplace.The following are some customer retention strategies:
Relationship Marketing (RM)
Relationship Marketing (RM) was popularised by Berry (1983, P. 25) as an approach aimed at “attracting, maintaining and enhancing customer relationships”. This understanding of doing business from a marketing point of view implied a radical change from the previous perspective: Although not explicitly outlined above, the transactional marketing approach emphasised the application of the marketing mix. McCarthy’s (1960) simplification of the marketing mix, composed of four ingredients (e.g. Product, Price, Place and Promotion), has received severe criticism regarding its limitations
You either get what you want or your money back. T&C Apply
You can find more project topics easily, just search
SIMILAR MARKETING FINAL YEAR PROJECT RESEARCH TOPICS
1. A COMPARATIVE ANALYSIS OF CONSUMER ATTITUDE TOWARDS DIFFERENT BRANDS OF MOTOR OIL LUBRICANT PRODUCTS IN ENUGU URBAN» CHAPTER ONE INTRODUCTION 1.1 BACKGROUND OF THE STUDY An oil lubricant has been a canon product in our society today due to uses of different types of ...Continue Reading »
» CHAPTER ONE 1.1 BACKGROUND TO THE STUDY Events in the recent past connected with some deities in Igboland reveal that deities’ regime is not yet...Continue Reading »
3. THE IMPACT OF NEW PRODUCT MARKETING STRATEGIES ON THE PERFORMANCE OF FIRMS IN NIGERIA (A CASE OF GUINNESS STOUT IN ‘UNIQUE NEW BOTTLE’)» CHAPTER ONE 1.1 BACKGROUND OF THE STUDY Developing and marketing new products are very important for profitability, survival and growth of companies. ...Continue Reading »
4. EVALUATION OF THE EFFECTS OF NIGERIA’S INTERNATIONAL IMAGE AND REPUTATION MANAGEMENT ON FOREIGN NATIONALS’ PERCEPTION OF THE COUNTRY» CHAPTER ONE INTRODUCTION 1.1 Background of the Study A country’s image and reputation are as important as the country itself. Evidently, no coun...Continue Reading »
» ABSTRACT The study researched into how telecom companies in Nigeria with particular focus on Globacom use Information Communication Technology (ICT), ...Continue Reading »
6. STAFF PERCEPTION OF THE EFFECTIVENESS OF MARKETING STRATEGIES IN COMMERCIAL BANKS (A CASE STUDY OF SOME SELECTED BANKS IN UYO)» The article on this topic (staff perception of the effectiveness of marketing strategies in commercial banks) is an extract from literature review of ...Continue Reading »
7. THE ATTITUDE OF FEMALE MASS COMMUNICATION STUDENTS TOWARDS JOURNALISM AS A CAREER, IN NNAMDI AZIKIWE UNIVERSITY AWKA» Abstract The researcher in this work focused on the Attitude of Female Mass Communication Students Towards Journalism As a Career. It is believed that...Continue Reading »
» CHAPTER ONE INTRODUCTION 1.1 BACKGROUND OF THE STUDY Corporate image is the perception of corporation, an institution or government which exists in th...Continue Reading »
» CHAPTER ONE 1.1 INTRODUCTION In the contemporary globalised world of business, with its attendant stiff competitions, effective customer care is unive...Continue Reading »
» ABSTRACT The challenges of measuring marketing strategy in relation to productivity has been inadequately address by previous researches and marketing...Continue Reading »