Perceived Market Risk And Customer Satisfaction As Predictors Of Customer Loyalty In The Global System Of Mobile Telecommunication In Lagos State Nigeria
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Olufayo, T. O.
Noun Journal Of Management And International Development
Customer loyalty is seen as very important in corporate organisation because it is cheaper to retain customer than getting new one. This paper examined how perceived market risks and customer satisfaction predict loyalty in the Global System of Mobile (GSM) telecommunications in Nigeria in the perspective of mobile phone users in Lagos state. The study examined financial and functional risks as well as customer satisfaction as predictors of customer loyalty. Cross-sectional survey research as an aspect of descriptive design was adopted in conducting the study. The subscribers' base in Lagos state is put at 19,417,181 by National Bureau of Statistics (NBS) in 2019 and 800 subjects were used in collecting information that was processed using descriptive statistics, multiple regression statistics. Results show that there was a statistically significant relationship between financial risk, functional risk, and satisfaction on customer loyalty. It was concluded that marketers in the GSM industry should formulate and implement marketing strategies that will focus on mitigating financial and functional risk and enhance customer satisfaction. The study recommended that strategies should be formulated to encourage customer patronage and loyalty.
perceived market risk , Functional risk , Financial risk , Satisfaction , Customer loyalty , Research Subject Categories::SOCIAL SCIENCES::Business and economics
Olufayo, T. O. & Omoera, C. (2021). Perceived Market Risk And Customer Satisfaction As Predictors Of Customer Loyalty In The Global System Of Mobile Telecommunication In Lagos State Nigeria. Noun Journal Of Management And International Development, 6(1), 124-139