Enhancing customer retention using customer relationship management approach in car loan bussiness

The objective of this study was to analyse the effects of customer-perceived value, corporate image, and service quality on customer satisfaction, as well as to analyse the direct effect of switching barriers on customer retention, and to analyse the direct and indirect effects of customer satisfact...

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Autores principales:	Megawati Simanjuntak, Nadia E. Putri, Lilik N. Yuliati, Mohamad Fazli Sabri
Formato:	article
Lenguaje:	EN
Publicado:	Taylor & Francis Group 2020
Materias:	corporate image customer-perceived value customer trust service quality switching barriers Business HF5001-6182 Management. Industrial management HD28-70
Acceso en línea:	https://doaj.org/article/9ef70c8f9ce8429e8837a027da057c50
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spelling	oai:doaj.org-article:9ef70c8f9ce8429e8837a027da057c502021-12-02T18:21:51ZEnhancing customer retention using customer relationship management approach in car loan bussiness2331-197510.1080/23311975.2020.1738200https://doaj.org/article/9ef70c8f9ce8429e8837a027da057c502020-01-01T00:00:00Zhttp://dx.doi.org/10.1080/23311975.2020.1738200https://doaj.org/toc/2331-1975The objective of this study was to analyse the effects of customer-perceived value, corporate image, and service quality on customer satisfaction, as well as to analyse the direct effect of switching barriers on customer retention, and to analyse the direct and indirect effects of customer satisfaction on customer retention. The conceptual research framework was examined by subjecting data pertaining to 310 customer car loans to structural equation modelling (SEM). The study findings indicated that customer-perceived value, corporate image, and service quality have a significant effect on customer satisfaction, while switching barriers have a significant effect on customer retention. Although customer satisfaction does not have a significant effect on customer retention, the indirect relationship that occurs through customer trust shows that the trust in the credit process and the service provided will prompt customers to use the company’s products or services when applying for new credit. The managerial implications of these findings include grouping customers, determining sales targets based on customer groups, offering products that have more advantages over competitors, providing credit packages and special programs to promote low-interest rates, and forming telesales as information channels. This research provides an overview of the loyalty of customers that will reuse the previous car loan company when reapplying for credit.Megawati SimanjuntakNadia E. PutriLilik N. YuliatiMohamad Fazli SabriTaylor & Francis Grouparticlecorporate imagecustomer-perceived valuecustomer trustservice qualityswitching barriersBusinessHF5001-6182Management. Industrial managementHD28-70ENCogent Business & Management, Vol 7, Iss 1 (2020)
institution	DOAJ
collection	DOAJ
language	EN
topic	corporate image customer-perceived value customer trust service quality switching barriers Business HF5001-6182 Management. Industrial management HD28-70
spellingShingle	corporate image customer-perceived value customer trust service quality switching barriers Business HF5001-6182 Management. Industrial management HD28-70 Megawati Simanjuntak Nadia E. Putri Lilik N. Yuliati Mohamad Fazli Sabri Enhancing customer retention using customer relationship management approach in car loan bussiness
description	The objective of this study was to analyse the effects of customer-perceived value, corporate image, and service quality on customer satisfaction, as well as to analyse the direct effect of switching barriers on customer retention, and to analyse the direct and indirect effects of customer satisfaction on customer retention. The conceptual research framework was examined by subjecting data pertaining to 310 customer car loans to structural equation modelling (SEM). The study findings indicated that customer-perceived value, corporate image, and service quality have a significant effect on customer satisfaction, while switching barriers have a significant effect on customer retention. Although customer satisfaction does not have a significant effect on customer retention, the indirect relationship that occurs through customer trust shows that the trust in the credit process and the service provided will prompt customers to use the company’s products or services when applying for new credit. The managerial implications of these findings include grouping customers, determining sales targets based on customer groups, offering products that have more advantages over competitors, providing credit packages and special programs to promote low-interest rates, and forming telesales as information channels. This research provides an overview of the loyalty of customers that will reuse the previous car loan company when reapplying for credit.
format	article
author	Megawati Simanjuntak Nadia E. Putri Lilik N. Yuliati Mohamad Fazli Sabri
author_facet	Megawati Simanjuntak Nadia E. Putri Lilik N. Yuliati Mohamad Fazli Sabri
author_sort	Megawati Simanjuntak
title	Enhancing customer retention using customer relationship management approach in car loan bussiness
title_short	Enhancing customer retention using customer relationship management approach in car loan bussiness
title_full	Enhancing customer retention using customer relationship management approach in car loan bussiness
title_fullStr	Enhancing customer retention using customer relationship management approach in car loan bussiness
title_full_unstemmed	Enhancing customer retention using customer relationship management approach in car loan bussiness
title_sort	enhancing customer retention using customer relationship management approach in car loan bussiness
publisher	Taylor & Francis Group
publishDate	2020
url	https://doaj.org/article/9ef70c8f9ce8429e8837a027da057c50
work_keys_str_mv	AT megawatisimanjuntak enhancingcustomerretentionusingcustomerrelationshipmanagementapproachincarloanbussiness AT nadiaeputri enhancingcustomerretentionusingcustomerrelationshipmanagementapproachincarloanbussiness AT liliknyuliati enhancingcustomerretentionusingcustomerrelationshipmanagementapproachincarloanbussiness AT mohamadfazlisabri enhancingcustomerretentionusingcustomerrelationshipmanagementapproachincarloanbussiness
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Enhancing customer retention using customer relationship management approach in car loan bussiness

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