Omodio, Aghogho Rita and Covenant University, Theses (2022) EFFECTS OF RELATIONSHIP MARKETING ON CUSTOMER RETENTION IN THE HOSPITALITY INDUSTRY. Masters thesis, Covenant University Ota.
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Abstract
Despite the advent of Customer Relationship Marketing, companies continue to struggle with the issue of client retention. This is also evident in the Nigerian hotel and restaurant services industry. Premised on this assertion, the study assessed the effect of Customer Relationship Marketing on Customer Retention in the Nigerian hotel and restaurant services business with specific focus on four restaurants in the Lagos mainland. Specifically, the study disaggregated Customer Relationship Marketing into Communication, Customer Trust, Commitment, Bonding, and Engagement. Meanwhile, the customer retention was disaggregated into Firm Profitability, Customer Loyalty, Repeat Purchase, conversion rate, and Words-of-Mouth. Data for the study was sourced using the primary data methodology through the instrumentality of well-structured questionnaire. Although, 200 questionnaires were distributed, only 190 were returned and used to run the regression analysis. Prior to running the regression result, the model was subjected to factor loading, and multicollinearity test, Cronbach Alpha and Composite Reliability test proved that the research instrument is consistent. The study analysis was conducted using the Smart PLS. The study reported that, both the R2 and Q2 statistic evidenced moderate goodness of fit. Again, communication and Customer Trust has a direct significant effect on Firm Profitability and Customer Loyalty respectively. More so, Commitment has a direct significant effect on Repeat Purchase. Again, Bonding has a direct significant effect on conversion rate. Lastly, Engagement has a direct significant effect on Words-of-Mouth. Hence, the study concludes that, customer relationship marketing has a significant positive effect on customer retention in the hospitality industry using a sample of 4 restaurants in Nigeria. As such, the study recommends that, restaurants service providers should continuously develop and implement customer retention strategies that are effective and efficient in order to retain and possibly attract new customers to boost its competitiveness.
| Item Type: | Thesis (Masters) |
|---|---|
| Uncontrolled Keywords: | Customer Relationship Marketing, Customer Retention, Nigerian hotel and restaurant services business |
| Subjects: | H Social Sciences > H Social Sciences (General) |
| Divisions: | Faculty of Law, Arts and Social Sciences > School of Management Faculty of Law, Arts and Social Sciences > School of Social Sciences |
| Depositing User: | nwokealisi |
| Date Deposited: | 13 Sep 2022 12:08 |
| Last Modified: | 13 Sep 2022 12:08 |
| URI: | http://eprints.covenantuniversity.edu.ng/id/eprint/16173 |
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