Customer Retention in Telecom Industry - 5857 Words

Customer Retention: With Special Reference to Telecommunication Industry in Sri Lanka K. A. Silva Lanka Com Services (Pvt) Limited, Colombo, Sri Lanka S. T. W. S. Yapa Department of Decision sciences, University of Sri Jayewardenepura, Nugegoda, Sri Lanka samanyapa@sjp.ac.lk ABSTRACT The landscape of the telecommunication industry in Sri Lanka has been changed drastically since the deregulation of telecommunication sector in early 1990s. Number of service providers has been increased from one, i.e state monopoly, to more than 70 within a short period of time. With the increased competition telecom service providers find it difficult to retain the existing customers. In that context the objective of this research explanatory†¦show more content†¦The relationship is seen as mediated by social norms and situational factors. Cognitive, affective, and conative antecedents of relative attitude are identified as contributing to loyalty, along with motivational, perceptual, and behavioural consequences ( Dick and Basu , 1994). In the customer centred business, survival remains to the degree that customer satisfaction is met. Previous research studies have shows that the repurchase intent was the main benefit of customer retention. However, some had identified multiple benefits like repurchase intent, price tolerance, willingness to recommend etc. In reaching retention, vendors should manage satisfaction and consequences of Customer Loyalty (Naranyandas, 1998). Loyalty too has a pyramid effect that suggests of having hierarchy in loyalty levels between customer and vendor. Change in loyalty level will manifest itself in the presence of specific attitude and behaviour (Aaker, 1991). Customer loyalty and satisfaction are integral part of customer retention process. Customer Retention is a primary measure of loyalty. There is a positive relationship between changes in satisfaction and share of wallet. In particular, the initial satisfaction level and the conditional percentage of change in satisfaction significantly correspond to changes in share of wallet. Income and length of the relationship negativelyShow MoreRelatedTelecommunication Industry: The Bond Between Loyalty of Customers1351 Words   |  6 Pagestechnology. Satisfying the customers need is the top priority of almost every organization. Fast paced technological growth is the main determinant of increased customers’ expectations from the marketers of products and services. Both internet and web enabled technologies complemented the CRM in a significant manner. 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