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Journal of Management Research and Analysis


Consumer retention strategies for telecom service industry in India: a theoretical perspective


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Author Details: Vinod Sharma, Jayant Sonwalkar

Volume : 3

Issue : 3

Online ISSN : 2394-2770

Print ISSN : 2394-2762

Article First Page : 110

Article End Page : 121


Abstract

The business environment in India is getting highly competitive day by day and unstable global economy is adding another flavour on it. In this situation, many firms are even finding it difficult to survive and few businesses left with no choice then to fold up due to the limitation they have in facing regular challenges of the business activities. In this highly competitive environment, the survivor is the one who look beyond its traditional methods of retaining its precious customers and constantly reviewing its strategies to become more consumers centric.
Consumer retention is considered as one of the major relationship marketing concepts concerned with developing and maintaining a long-term consumer-firm relationship. The importance of customer retention has increased by many folds since the majority of firms started losing their consumers due various reasons and knowing the fact that acquiring new consumers is a costly affair of. Thus, the model of competition has shifted from acquiring new consumers to retaining the existing one and moreover luring them away from rival companies. In accordance with the above mentioned statements, this study focus on developing a theoretical framework for consumer retention strategies for telecom service industry in India.

Keywords:
Retention Strategies, Loyalty, Satisfaction, Switching Barriers, Switching Cost, Customer Relationship Management, Alternative Attractiveness & Telecom Service Industry