The rationale of this study is to find out the effectiveness of customer retention strategies from the perspective of the existing customers of a bank in Dehradun(India). The study indicated age, gender and income of existing customers are statistically insignificant in customer retention, and education background is statistically significant.
From the Factor Analysis, the existing customer retention strategies can be factorized in to three principal components: value added services, convenience and business development. The multiple regression analysis indicated the effectiveness of retention strategies is dependent on the three customer retention strategies’ factors derived from factor analysis.
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