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The Art and Science of Marketing$
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Grahame Dowling

Print publication date: 2004

Print ISBN-13: 9780199269617

Published to Oxford Scholarship Online: October 2011

DOI: 10.1093/acprof:oso/9780199269617.001.0001

Retaining Customers: Customer Value, Satisfaction, and Service Quality

Chapter:
(p.311) Chapter 10 Retaining Customers: Customer Value, Satisfaction, and Service Quality
Source:
The Art and Science of Marketing
Author(s):

Grahame R. Dowling

Publisher:
Oxford University Press
DOI:10.1093/acprof:oso/9780199269617.003.0010

This chapter focuses on programmes to increase the likelihood that a customer will continue to buy the organization's products and services, to develop customer loyalty, or reduce customer churn. The motivations for developing loyalty/ reducing churn are threefold. One is the notion of amortizing the costs of acquiring customers. A second motivation is to reduce the volatility of cash flows. A third motivation is to provide a solid foundation for growth. Part A of the chapter looks at which types of customers to retain. The key issue here is that some customers are likely to be unprofitable. For non-profitable customers to be retained, they must make a contribution to the organization's business performance in another way. Part B then examines how to retain the chosen customers. It outlines three strategies: customer value, customer satisfaction, and service quality.

Keywords:   customer churn, customer lifetime value, customer value, customer satisfaction, service quality, service model

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