- 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: ₦6,000
Get the complete project »
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.
CHAPTER TWO
LITERATURE REVIEW
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. AN INVESTIGATION ON THE EFFECT OF VARIOUS PACKAGING MATERIALS ON THE QUALITY ATTRIBUTES OF SUYA
» Abstract This study was conducted to determine the effects of processing techniques and packaging materials on the quality of Suya meat. Materials and...Continue Reading »Item Type & Format: Project Material - Ms Word | 52 pages | Instant Download | Chapter 1-5 | MARKETING DEPARTMENT
-
2. THE EFFECT OF PRICE AND PRICE CHANGES ON SALES OF CONSUMER GOODS
» The article on this topic (the effect of price and price changes on sales of consumer goods) is an extract from the complete project material. The com...Continue Reading »Item Type & Format: Project Material - Ms Word | 75 pages | Instant Download | Chapter 1-5 | MARKETING DEPARTMENT
-
3. THE IMPACT OF CAPITAL MARKET INSTABILITY ON THE GROWTH OF NIGERIA ECONOMY
» CHAPTER ONE INTRODUCTION 1.1 Background of the study The In every developing and developed economy, the capital market has been identified as an insti...Continue Reading »Item Type & Format: Project Material - Ms Word | 55 pages | Instant Download | Chapter 1-5 | MARKETING DEPARTMENT
-
4. MARKETING PRACTICES OF SMALL SCALE BUSINESSES
» ABSTRACT Entrepreneurial Marketing (EM) practices have been identified as one of the important key ingredients for superior performance and global com...Continue Reading »Item Type & Format: Project Material - Ms Word | 92 pages | Instant Download | Chapter 1-5 | MARKETING DEPARTMENT
-
5. SMALL-SCALE INDUSTRIES DEVELOPMENT IN ANAMBRA STATE: PROBLEMS AND PROSPECTS. (A CASE STUDY OF AWKA AND NNEWI INDUSTRIAL AREAS)
» ABSTRACT THIS RESEARCH IS AIMED AT SMALL SCALE INDUSTRIES DEVELOPMENT IN ANAMBRA STATE: PROBLEMS AND PROSPECTS. SMALL SCALE INDUSTRIES ARE THOSE INDUS...Continue Reading »Item Type & Format: Project Material - Ms Word | 52 pages | Instant Download | Chapter 1-5 | MARKETING DEPARTMENT
-
6. THE IMPACT OF INFORMATION TECHNOLOGY IN MARKETING PRODUCT AND SERVICES (A CASE STUDY OF ECO BANK ENUGU MAIN BRANCH
» CHAPTER ONE 1.0 INTRODUCTION 1.1 BACKGROUND OF THE STUDY Adaptation of Information Technology in Service and Product in Public Sector Organizations in...Continue Reading »Item Type & Format: Project Material - Ms Word | 52 pages | Instant Download | Chapter 1-5 | MARKETING DEPARTMENT
-
7. ASSESSEMENT OF PERFORMANCE OF FEMALE MARKETING EXECUTIVES IN COMMERCIAL BANKS IN NIGER STATE, NIGERIA
» CHAPTER ONE INTRODUCTION 1.1 Background of the study The female executives that are working in banks today making use of this opportunities, not only ...Continue Reading »Item Type & Format: Project Material - Ms Word | 118 pages | Instant Download | Chapter 1-5 | MARKETING DEPARTMENT
-
8. PUBLIC RELATIONS EFFECTIVENESS IN HEALTH CARE DELIVERY SERVICE IN NIGERIA. A SURVEY OF NAFDAC OPERATIONS.
» CHAPTER ONE INTRODUCTION 1.1 BACKGROUND OF THE STUDY The popular saying that “Health is wealth and a healthy nation is a wealthy nation” f...Continue Reading »Item Type & Format: Project Material - Ms Word | 52 pages | Instant Download | Chapter 1-5 | MARKETING DEPARTMENT
-
9. ASSESSMENT OF THE RADIO AND TELEVISION MEDIA IN THE NEW ERA ADVERTISING A STUDY OF ENUGU STATE BROADCASTING SERVICE
» CHAPTER ONE INTRODUCTION 1.1 Background of the Study Advertising has tremendously changed from what it used to be in the past decades (MacDonald, 2002...Continue Reading »Item Type & Format: Project Material - Ms Word | 84 pages | Instant Download | Chapter 1-5 | MARKETING DEPARTMENT
-
10. PUBLIC RELATIONS MANAGEMENT AND THE SUSTENANCE OF DEMOCRACY IN NIGERIA: A SURVEY OF THE DYNAMICS OF EXECUTIVE – LEGISLATIVE RELATIONS
» CHAPTER ONE INTRODUCTION 1.1 BACKGROUND TO THE STUDY In the wake of political independence in 196os, the indigenous political leaders sought to instit...Continue Reading »Item Type & Format: Project Material - Ms Word | 121 pages | Instant Download | Chapter 1-5 | MARKETING DEPARTMENT