Recent developments in the marketing literature highlight the significance of consumer relationship management (CRM) in driving consumer loyalty (CL). In order to provide a clear understanding of the impact of CRM on CL, this study develops an integrated framework of CRM activities: Acquisition, retention, and experience to manage Customer Loyalty through direct and indirect approaches (with the mediation of satisfaction, trust, and commitment). The article utilizes a survey-based empirical study of 600 consumers from three service sectors (health, retail, and wellness). The findings of the study suggest that a firm that pays more attention to manage consumer experiences would be significantly benefited from the implementation of CRM programs. Consumer experience efforts have the positive impact on CL through commitment in all three sectors. Service manager should have clarity and consciousness that consumers are not looking for just traditional CRM benefits such as value proportion, reward points and so on but specifically seek for a pleasant experience of various touchpoints. Various frameworks of acquisition of CRM activities to manage Customer Loyalty has been analyzed.
Consumer loyalty, Consumer relationship management, Consumer experience management, Satisfaction, Trust, Commitment
Submitted by TEAM MARS
- Mutharasan Anbarasan(A0163257A)
- Raghavan Kalyanasundaram(A0163316L)
- Saravanan Kalastha Sekar(A0163309H)
- Seshan Sridharan(A0148476R)
- Sindhu Rumesh Kumar(A0163342M)