The customer journey : the development of marketing strategy and customer relationship management in the retail industry

Abstract

Purpose – The intended scope of this study is to investigate and examine the associations and relationship of marketing strategy and customer relationship management in order to achieve customer retention when operating in the retail industry. This study will further explore the factors that influence customer retention and its measures to achieve it. Design/methodology/approach – This is carried out using a quantitative questionnaire based survey which was distributed amongst consumers in order to collect a sample of 384 respondents. The data was analysed using the survey analysis web based tool as well as analysis through known literature in this sector of retail marketing. Findings – The results shown were concerned with the elements of the retail store which work towards building profitable customer-retailer relationships which is found to be the basis of obtaining customer retention excellence. The findings also highlighted the aspects of marketing strategy which are essential to compete in this industry to remain profitable and gain customer loyalty leading to retention. Research limitations/implications – This research was limited to the view of consumers whereas further research can be carried out in the area relating to the views of the retailer which would provide more insight to the nature of this study concerned with customer retention. A need to further develop this area of study is essential as the dependency of the attributes can provide future findings. Practical implications – Customer retention directly reflects on the retailer’s success within the industry as repeat purchases are to be valued and will cost less for the retailer to retain customers than reign in the prospects. Whilst all influencing factors such customer considerations and customer service need to be analysed. Originality/value – The major contribution this research provides to this field is that the importance of customer retention is clearly shown and can be achieved by clear understanding of what every single customer who visits the retail outlet wants and in return providing repeat custom and purchases.