Impact Of Customer Satisfaction Strategies On Customer Retention

Project and Seminar Material for Marketing

Impact Of Customer Satisfaction Strategies On Customer Retention

Project Body

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

How To Get The Complete Material For Impact Of Customer Satisfaction Strategies On Customer Retention

Project Material Download

3,000 Naira

The complete material will be sent to your email address after payment
( Quick & Simple)

CLICK HERE to make purchase (₦3,000)

CLICK HERE to make purchase ($15)

  Contact Our Help Desk

⚠️ Need a different topic? Perform a quick search

Get A Complete Business Plan For Any Business In Nigeria

Business Plan for Businesses in Nigeria

  Business Plans in Nigeria


This research material “Impact Of Customer Satisfaction Strategies On Customer Retention” is for research purposes and should be used as a guide in developing your research project / seminar work. For no reason should you copy word for word (verbatim) as will not be liable for any who copied the material.

The aim of providing this material is to reduce the stress of moving from one school library to another all in the name of searching for research materials. This service is legal because, all institutions permit their students to read previous projects, books, articles or papers while developing their own works. According to Austin Kleon “All creative work builds on what came before”. is only providing this material “Impact Of Customer Satisfaction Strategies On Customer Retention” as a reference for your research. The paper should be used as a guide or framework for your own paper. The contents of this paper should be able to help you in generating new ideas and thoughts for your own research. Use it as a guidance purpose only.

Samphina Academy

Samphina Academy is an Online Educational Resource Center that is aimed at providing students with quality information and materials to aid them in succeeding in their academic pursuit.