CUSTOMER PARTICIPATION, VALUE, SATISFACTION, TRUST AND LOYALTY: AN INTERACTIVE AND COLLABORATIVE STRATEGIC ACTION.

Author:Hossain, Md. Shakib
 
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INTRODUCTION

A customer is always an inseparable element for a business entity. The company has adopted the manifold business strategies and adds the distinctive attributes and values for ensure the customer satisfaction because that facilitates the ultimate desire customer loyalty. Through the customer participation the companies are aggregating the conclusive and decipherable assumption about their future demand and need, that indubitable helps the company to accelerate the distinctive values. The values that facilitate by the company surely accomplish the substantial amount of customer satisfaction and triumph the customer trust. Rigorous effort and continuous improvement of the product in terms of the service, feature, quality and many more assists the firm to reach the customer loyalty that explore and proliferate the competitiveness and superiority. Due to the intense competition the firms has the conviction that customer loyalty is a commensurate , intricate and interactive approach that helps the firms to attain the long term competitive advantages through the acuteness, propitious action and customer participation. Relationship marketing hinges on the development of lasting customer-brand bonds which allows the firms to create a sustainable competitive advantage.

LITERATURE REVIEW

Appropriate and effective customer participation can enhance customer perceived value of product, reduce the risk perception of product quality customer products, reduce the cost of acquisition, can bring customer experience value, relationship value, learning value and psychological benefits value (Liu et al., 2007). According to marketing theory, every customer can facilitate the customer-value. Customer value has a relationship with customer satisfaction (Nauman & Giel, 1995). Customer satisfaction is customers' respond to what they expect and what they experienced from a Product/process (Hallowell, 1996). It is increasingly acknowledged that focusing on the connection and collaboration between the firm and the customer results in greater customer satisfaction and customer trust (Ramani & Kumar, 2008). A strong relationship with the customers is positively affecting the brand loyalty.

Customer Participation and Customer Value

A research has accomplished by Mekhail et al. (2013) indicates that customer values can be attained through the customer participation because due to the engagement with the customer economic benefits can attain, a propitious relationship is establish between seller and the customer and of course understanding about the future offering and needs.

H1: Customer participation is positively related to customer value.

Customer Value and Customer Satisfaction

Customer satisfaction can be optimize with the accentuate of distinctive values that offer by the company. An empirical research by proofs that customer value is contributes to customer satisfaction.

H2: Customer value is positively related to customer satisfaction.

Customer Value and...

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