Tag Archives: Customer retention

Proximity and Performance of Hotels in Port Harcourt: A Corporate Operations Challenge (Published)

The need for proximal positioning for effective performance has been highlighted in this study which sought to examine the relationship between proximity and performance of Hotels in Port Harcourt. The study was guided by six hypotheses stating that there is no significant relationship between proximity (dimensioned by proximity to customers and proximity to staff) and performance (measured with patronage, customer retention and employee turnover). A sample of ninety managers was drawn from hotels in Port Harcourt using the cluster sampling technique. Pearson’s product moment correlation (r) was used in testing the hypotheses at 95% level of confidence. The findings indicated that proximity to customers related significantly with patronage, customer retention and and employee turnover. While proximity to staff did not relate significantly with patronage and customer retention; but with employee turnover. Based on these, it was concluded that to a large extent, proximity is a good predictor of performance of hotels in Port Harcourt. Hence, hotels need to reposition and/or re-strategize so as to mitigate the locational challenges of proximity to customers and employees that are capable of impeding their performance. Consequently, the study recommended among other things that hotels should be located in such a way that they are easily accessible by customers and employees so as to enhance economic activities. Where this is not the case, hotel management should collaborate with transport service providers to address the issue of proximity and easy access to and fro their facilities.

Keywords: Accessibility, Customer retention, Employee turnover, facility location and patronage.

Internet Banking Service Quality and Customer Retention in Deposit Money Banks in Rivers State- Nigeria (Published)

This study investigates the relationship between Internet Banking Service Quality and Customer Retention in Deposit Money Banks in Rivers State. The objectives of the study were to investigate the influence of internet service efficiency and website design on Customer Retention. The study adopted the quasi-experimental research design which employed the cross sectional survey design. The choice of this survey approach is because it will scientifically look at the situation on ground and will empirically analyze it to get result that can be attributable to the accessible population. Based on the research questions, a research questionnaire was designed and one hundred and ninety (190) copies were distributed to the customers of the banks who constituted the populationof study, the researcher purposively administered ten (10) copies each to customers of the nineteen (19) deposit money banks in Rivers State. A total of one hundred & sixty-nine (169) copies of the distributed questionnaire were retrieved. These copies were analyzed and the hypotheses were tested using the Kendal’s Correlation Coefficient with the aid of SPSS Version 23.0. The result revealed that; there is a significant relationship between internet banking service efficiency and referral, internet banking service efficiency and resistance to competitive pressure, Internet banking website design and referral, Internet banking website design and resistance to competitive pressure. The result also revealed that customer technology adoption positively influences the relationship between internet banking service quality and customer retention in deposit money banks in Rivers State. The study concluded that consumer orientation should be applied whenever; banks are adopting new techniques that will service the need of their customers for better satisfaction. The study recommends that Banks should invest more on technologies that will ensure efficiency in serving customer and overall satisfactions of the customers. Customer satisfaction should be kept in mind as banks upgrade existing systems or while buying new systems altogether.

Keywords: Customer Satisfaction, Customer retention, Internet Banking

Influence of Customer Relationship Management on Customers’ Retention in the Insurance Industry in Accra, Ghana (Published)

The study examines the influence of customer relationship management on customers’ retention in the insurance industry in Accra, Ghana. The objective of the study was to examine the relationship between customer relationship management and customers’ satisfaction in the insurance industry in Accra, Ghana; to determine the relationship between customer relationship management and customers’ retention in the insurance industry in Accra, Ghana and; to identify the challenges obstructing customer relationship management’s strategies in the insurance industry in Accra, Ghana. Convenience sampling technique was used to gather data form a sample of 200 customers of insurance firms in Accra, Ghana, using structured interview guide and data analyses carried out using SPSS version 20. The findings of the study showed a direct effect of customer relationship management on customers’ satisfaction. Also, the study revealed a significant positive relationship between customer relationship management and customers’ retention. Based on these findings, the study recommends that the insurance industry in Accra, Ghana, should continue to deliver excellent customer service to customers in order to keep satisfying them. This can be achieved by understanding their expectations and meeting them. More so, the study recommends insurance firms in Accra, Ghana, to continue to deliver value laden-relationships with customers in order to keep retaining them since retention is key in any given competitive business environment.

Keywords: Customer Relationship Management, Customer Satisfaction, Customer Service, Customer retention

Impact of Customer Relationship Management (CRM) On the Performance of Deposit Money Banks (DMBS) In Abuja (Published)

This study examines the impact of Customer Relationship Management on the performance of Deposit Money Banks in Abuja. The study investigates how CRM variables such as customer attraction, customer satisfaction and customer retention impact on the performance of Deposit Money Banks. The study adopted a survey research method where data was collected using questionnaires administered to both employees and customers of the ten randomly selected DMBs in Abuja made up of the 341 Population of the study. Taro Yamane Sample Size formula was used to determine the sample size (184). Out of the 184 copies of questionnaires that were distributed, 175 representing 95.1 % response rate were retrieved and used for analysis. As part of the method of data analysis, Pearson Correlation and Ordinary Least Square (OLS) was used to test the formulated hypotheses in line with the objectives of the study. The major finding reveals that, “there is significant relationship between Customer Relationship Management and performance of Deposit Money Banks in Abuja”. It was recommended that Deposit Money Banks (DMBs) in Nigeria’s North-Central sub-region should improve on Customers’ attraction activities in order to achieve deeper market penetration which will help in attracting more customers to strengthen their competitive positions. The study concluded that DMB’s should adopt CRM since it contributes significantly to their performance.

 

Keywords: Customer Attraction, Customer Relationship Management, Customer Satisfaction, Customer retention, Deposit Money Banks, Performance

The Effect of Brand Name on Customer Loyalty in the Mobile Communication Industry in Ghana (Published)

The mobile communication industry in Ghana cannot be successful without loyal customers. Thus, brand name is very critical factor to help retain customers thereby improving the bottom line of the firm. The purpose of this study was to investigate the extent to which brand name contributes to customer loyalty in mobile telecommunication brands in Ghana. The paper also finds out the factors that influence consumer choice of brand (mobile network) and why subscribers switch from one network to another. The study captured both qualitative and quantitative data. Data collection was conducted through a survey questionnaire comprising open and closed ended questions. To get the sample size for the study, 120 respondents were selected using simple random sampling but 150 were contacted because of data collection limitation such as non response. Statistical package for Social Sciences (SPSS) was used for data analysis. Statistical analysis includes Pearson correlation, logistic regression and descriptive statistics. Pearson correlation and regression were used to analyze the customer reasons for choosing a particular network as well as the relationship between customer association and brand attributes. The study found that, brand name does not really contribute to customer loyalty. Other factors such as the quality, price, availability, and sales promotion also contribute to customer loyalty. The study however revealed that, there are factors such as price, quality, price and quality and brand name that consumers consider when making a purchased decision, however, they mostly associate quality with the name of the mobile network brand purchase. Thus, any mobile network brand purchase is because of the quality but not necessarily the name

Keywords: Brand name, Customer loyalty, Customer retention, Mobile communication, Quality