EFFECTS OF CUSTOMER RELATIONSHIP MANAGEMENT ON BRAND APPEALS: A CASE OF FINANCIAL SERVICE INDUSTRY IN NIGERIA

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Product Category: Projects

Product Code: 00005631

No of Pages: 118

No of Chapters: 5 CHAPTERS

File Format: Microsoft Word

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ABSTRACT

Effects of customer relationship management on brand appeals for their ability to support planning and efficient management of resources and activities in manufacturing organization. The main objective of this write up is to examine customer relationship management on brand appeal in financial service industry in Lagos state, Nigeria. To evaluate the relationship between customer acquisition and brand appeal in the financial service industry. To investigate the significant effect of customer loyalty on brand appeal in financial service industry. The research design is anchored on a quantitative approach to provide a reliable result. The design is less time-consuming and less expensive. The reliability test for the instrument as the measurement scales for the constructs produced Cronbach alpha of 0.728, 0.705, 0.7.01, 0.700, and 0.813 for customer acquisition, customer loyalty. A simple regression was run to predict brand appeal (dependent variable) from customer expectation (independent variable). The table 4.10 indicates that the independent variables yielded a coefficient of determination (R2) of 0.807 accounting for 80.7%% of the proportion of variance in dependent variable that is explained by the independent variables. The table 4.10, then, shows that the analysis of variance for the simple regression data produced F-ratio value of 1068.575 which is significant at 0.05 (. i.e. F (1.350) = 1068.575, p < 0.05). In table 4.10, the independent variable (customer expectation) has positive and statistical significance on response variable (brand appeal). In Conclusion the study confirms the effect of customer relationship management on brand appeal among financial service companies in Lagos Nigeria. It was recommended that Financial services such as banks and insurance companies are advised to move swiftly in their quest to provide enlightenment on the need for theirs brands andBanks and insurance companies are thus enjoined to continually drive brand appeal and awareness and thus endeavour to increase their brand knowledge.

Keywords; Customer Relationship Management, brand appeals financial service industry

 

CHAPTER ONE: INTRODUCTION

1.1       Background to the Study                                                                 1-8

1.2       Statement of the problem                                                                 8-9

1.3       Objectives of the Study                                                                     9

1.4       Research Questions                                                                           9

1.5       Research Hypotheses                                                                        10

1.6       Scope and delimitation of the study                                     11

1.7       Significance of the Study                                                                  11

1.8       Operational Definition of Terms                                                     12

CHAPTER TWO: LITERATURE REVIEW

2.1       Preamble                                                                                            13

2.2       Conceptual Review                                                                           14

2.2.1    Concept of Customer Relationship Management                          14-15

2.2.2    Component of Customer Relationship Management                    15-16

2.2.3 Customer Retention                                                                             16-17

2.2.4 Components of Customer Retention                                                  17-18

2.2.5 Benefits of Customer Retention                                                          18-19

2.2.6 Inertia as a determinant of Customer Retention                               19-20

2.2.7 High Switching Costs Promotes Customer Retention                       20-21

2.2.8 Customer Satisfaction                                                                          21-22

2.2.9 Components of Customer Satisfaction:                                             22-23  

2.2.10 The relationship between Customer Relationship Management and

Customer Satisfaction                                                                       23-24

2.2.11 The relationship between Customer Relationship Management and

Customer Retention                                                                          24-25

2.2.12 Customer Relationship Management in the Banking Sector         25- 27

2.2.13 Customer Relationship Management and the Factors that Affect

Customer Loyalty                                                                             27-32

2.2.14 Definition and Importance of Brand/Branding                              32-36

2.2.15 Meaning of Brand Appeal                                                                36

2.2.16   Brand Image, Customer Satisfaction, and Customer Loyalty     37

2.2.17 the Impact of Brand Image on Consumer Buying Behavior         37-40

2.3       Theoretical Review                                                                           40

2.3.1    Social Representation Theory (SRT)                                              40-41

2.3.2    Brand Relationships Theory (BRT)                                                41-42

2.3.3    Information Integration Theory (IIT)                                             42

2.4       Theoretical Framework                                                                    43-44

2.5       Empirical Review                                                                              44-52

2.6       Gap in the Previous Studies                                                             52

2.7       Conceptual Framework                                                                   52-54

CHAPTER THREE: METHODOLOGY

3.1. Preamble                                                                                                 55

3.2. Research Design                                                                                     55

3.3. Population of the Study                                                                         56

3.4. Sampling Techniques and Sample Size                                                56-57

3.4. Data Collection Instrument                                                                   57

3.5. Test of Validity and Reliability of the Research Instrument              58

3.6. Method of Data Analysis                                                                       59

3.7.Operationalisation of Research Variables                                            59

CHAPTER FOUR: DATA PRESENTATION, ANALYSIS AND INTERPRETATION

4.0. Introduction                                                                                            60

4.1 Descriptive Analysis of Respondents Profiles                                       60-63              

4.2.Dimensions of Customers Relationship Management                         36

4.2.1. Customer Acquisition                                                                         63-64

4.2.2. Customer Loyalty                                                                               65-66

4.2.3. Customer Retention                                                                            67-67

4.2.4. Customer Expectation                                                                        68-72

4.3. Hypothesis Testing and Discussion of Findings                                   72-82

CHAPTER FIVE: SUMMARY OF FINDINGS, CONCLUSION AND RECOMMENDATIONS

5.0. Summary of Findings                                                                            83

5.1. Conclusion                                                                                              84

5.2. Recommendations                                                                                  84-85

5.3. Suggestions for Further Studies                                                           85

References                                                                                                     86-107

QUESTIONNAIRE                                                                                      108-120

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