Customer RetentionCustomer Retention

Project Title:- “Customer Retention Initiative adopted by

Shopping Malls.”

Project guide:- Brig. Gurmeet Singh

Mritunjay sharma

PGDRM/08/31

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TABLE OF CONTENTSTABLE OF CONTENTS

INTRODUCTION

OBJECTIVES

METHODOLOGY

FINDINGS

RECOMMENDATION

CONCLUSION

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Customer retentionCustomer retention

Customer retention is the maintenance of continuous trading relationships with customers over the long term. Customer retention is the mirror image of customer defection. High retention is equivalent to low defection of customers in any store.

Advantages of customer retention Possibility of repeat business Reduced costs for customer acquisition Fostering greater interaction between business and customer Having more delighted customers

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Objective:Objective:

The objective of this study is to analyze loyalty programs of Shopping Malls.

The study of customer retention efforts adopted by Indian Shopping

Malls, analyze the success factors, and to suggest ways to increase customer loyalty.

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Methodology: Methodology: This study will examine the efforts made by Indian Shopping Malls to

retain their customers with them and build loyalty among their existing customers.

It utilizes the secondary and primary data for research. Secondary data involves the collection of data through past research studies, journals, magazines, books, leading databases, articles and internet.

while primary data involves the observations of the customer retention efforts adopted by Shopping Malls . This study also highlights the common phenomenon of Shopping Malls across the country.

The study would focus on building customer loyalty using differentiation strategies. It uses a four stage research strategy, outlining a research design, then collecting secondary data, then collecting primary data.

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Questionnaire Questionnaire Customer questionnaire on customer retention.

Name Age Sex: Address Contact no.

1. Are you a new customer to the retail form are you repeat?

Yes No

2. If you are repeat customer then why do want visit this retail format organization?

◦ You get the right product mix.◦ You get right scheme and discount.◦ You get customer delight.◦ The store is able to provide you a proper customer retention

measures as per you need.

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3. Customer gets the best customer delight from the goods purchase from this store.

 

Yes No

 

4. Do you feel that the particular retail format is able to readdress your customer grievances if at all it areas?

 Yes No

5. Do you feel that the retail format is able to provide you to right value of your money?

 

Yes No

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‘‘Proportion chart’ of new V/s old customers in 3 formats studiedProportion chart’ of new V/s old customers in 3 formats studied..

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Percentage of repeat customer in 3 retail format studiedPercentage of repeat customer in 3 retail format studied..

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‘‘Customer delight’ derived by goods purchase from 3 storeCustomer delight’ derived by goods purchase from 3 store..

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Do you feel that the particular retail format is able to Do you feel that the particular retail format is able to readdress your customer grievances if at all it areas?readdress your customer grievances if at all it areas?

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Do you feel that the retail format is able to provide Do you feel that the retail format is able to provide you to right value of your money?you to right value of your money?

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FindingsFindings India is facing a vibrant growth in the number of Shopping Malls and

this growth will remain at least for next some years.  

Uniformity in Interiors, Exteriors, and Offers etc. of Shopping Malls is preventing to create a strong differentiator on these parameters.

Entertainment has almost become a necessity for any Shopping Mall to have in order to attract footfalls on regular basis.

Avg. Indian shopping mall size is very less in comparison to shopping malls abroad like in U.S.

Tenants always play the most vital role for the success or failure of any Shopping Mall.

Environmental friendliness utility among the buyer utilities is yet not focused by Indian Shopping Malls for differentiation.

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RECOMMENDATIONRECOMMENDATION

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CONCLUSIONCONCLUSION

The study gives an insight about the opportunity as well as the challenge of building customer loyalty for Shopping Malls in India as more and more Shopping Malls are opening up in the country especially in big cities and metros.

The increase in Shopping Mall retail space provide sufficient space for new brands but it also results in more options to the customers, which results in low customer loyalty towards a specific Shopping Mall.

To retain customers, Shopping Malls are undertaking several strategies and tactics like extra services, better facilities etc.

As the customer loyalty is becoming more crucial,

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