Customer retention in service industries (banking).Comparing the strategies of foreign banking with local banking"

Abstract

Retaining customers for long time is now become focal strategy in service industries. Acquiring new customer is expenses rather than retain customers. In the research prime focus is to find out the relation between customers retention and complaint management. Effective complaint management is a key success factor for retaining customers. Different variable are used for this research like customers perception, customers behavior and customer opinion. The SPSS is used for the analyzing these variables to understand the effect the complaint management system. As many authors believe an effective complaint management can retain the customers. Organization must encourage the customers for complaints through the easiest process of complaint registration and by providing the training to front line staff. Then an organization can use the system as an opportunity. A questionnaire based on the complaint management involving employee’s behavior, cycle time for complaint registration, customer s care and customei satisfaction is arranged. With the help of this questionnaire customer’s retention is evaluated on the basis of complaints management.