The Objective of the project is to study the practical significance of the strategies used by companies to ‘Attract and Retain Customers’. A survey and subsequent analysis to determine the effectiveness of the strategies already being used by companies and how they can be further improved is also to be discussed. Justification
Dell India, has recently become the market leader in the PC market in India. We feel that this is a result of Dell India being successful in attracting new customers and retaining current customers. As market leaders Dell will now have to focus even more on these factors to preserve its position.
The following are the hypotheses that have been developed to determine the reasons why Dell has become market leader in India: Hypothesis 1: Increased customization of products and services is positively related to attracting new customers. Hypothesis 2: Increased offerings across distribution channels are positively related to attraction. Hypothesis 3: Improved customer service efficiency and effectiveness are positively related to customer loyalty Hypothesis 4: Product quality and value for money are important factors for customer retention.
A literature review of the various factors affecting customer attraction and retention are studied. The aspects under consideration include Customer Attraction, The Importance of Customer Retention, Factors for Improving Customer Retention, Difference between Customer Satisfaction and Customer Loyalty and Marketing through Recommendations.
The questionnaire designed for the survey included questions designed to validate or disprove the 4 hypotheses developed. The questions asked divide the survey sample into people with laptops and people without laptops. The latter group is further sub-divided into people who own a Dell Laptop, and those who do not. The questions relate to the factors which attract...