Factors Affecting Customer Loyalty in the Services Sector

Khan, Muhammad Murtaza; Yasir, Muhammad

doi:10.29036/jots.v12i22.257

Cited by 19 publications

(14 citation statements)

References 43 publications

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“…Company loyalty is important for Generation X. They feel proud of their company's work (Khan et al, 2021). Further motivational tools for the generation are, e.g., a theatre ticket, pension program, end-of-the-year bonus (wellness), and of course, they prefer family-friendly workplaces Generation Y was the first generation born into the world of technology.…”

Section: Name Of the Generationmentioning

confidence: 99%

Employee satisfaction and motivation of retail store employees

Mura

Zsigmond

Zsigmondová

et al. 2022

MMI

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In the 21st century, the rapid technological development in different innovations has not reduced the value of human capital. It is considered to be the most valuable capital of businesses and acts as a driving force of business activity. The perception of human capital should be essential since it has a real impact on the business's success. In human resources management, it is necessary to keep in mind one of the basic functions of management: motivation, planning, and organizing. The main goal of this article is to identify the critical determinants of motivation factors of the human resources capital in the retail sector. An adequately motivated employee is a key to achieving the company goals since employee motivation maintains customer satisfaction and loyalty. Based on the results, the most popular motivation tools proved to be the financial incentives in the form of salary increases or bonuses. In the case of generational differences, there is no difference in the degree of satisfaction with the salary. The employees expressed to be less satisfied with their workplace's communication and leadership style. They have no decision-making power at all. Besides, they do not really feel a sense of belonging somewhere. The members of Generation Z are less satisfied with job security than the representatives of older generations. Most of the retail employees do not find their work interesting or diverse. On the other hand, they think the pace of the work is too fast, but they are well prepared for the work they are doing. Based on the answers, most of the respondents disagree with the inappropriate style of feedback they receive from the managers. The members of Generation Z feel that they cannot adequately utilize their knowledge and skills at their workplaces. They get more criticism than praise than the representatives of older generations.

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Section: Name Of the Generationmentioning

confidence: 99%

Employee satisfaction and motivation of retail store employees

Mura

Zsigmond

Zsigmondová

et al. 2022

MMI

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“…Another advantage is the band's determination in which the demand usually moves, which may also be helpful for logistics planning. Monitoring of the band using Google Trend data may be potentially helpful for other applications, like trends of customer loyalty monitoring (Khan et al, 2021) or changing trends in customers' shopping habits (Machová et al, 2021). Determining the band in which demand will move can thus respond to the impossibility of determining a universal forecast method.…”

Section: Discussionmentioning

confidence: 99%

Demand forecasting: an alternative approach based on technical indicator Pbands

Kolková

Ključnikov

2021

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Research background: Demand forecasting helps companies to anticipate purchases and plan the delivery or production. In order to face this complex problem, many statistical methods, artificial intelligence-based methods, and hybrid methods are currently being developed. However, all these methods have similar problematic issues, including the complexity, long computing time, and the need for high computing performance of the IT infrastructure. Purpose of the article: This study aims to verify and evaluate the possibility of using Google Trends data for poetry book demand forecasting and compare the results of the application of the statistical methods, neural networks, and a hybrid model versus the alternative possibility of using technical analysis methods to achieve immediate and accessible forecasting. Specifically, it aims to verify the possibility of immediate demand forecasting based on an alternative approach using Pbands technical indicator for poetry books in the European Quartet countries. Methods: The study performs the demand forecasting based on the technical analysis of the Google Trends data search in case of the keyword poetry in the European Quartet countries by several statistical methods, including the commonly used ETS statistical methods, ARIMA method, ARFIMA method, BATS method based on the combination of the Cox-Box transformation model and ARMA, artificial neural networks, the Theta model, a hybrid model, and an alternative approach of forecasting using Pbands indicator. The study uses MAPE and RMSE approaches to measure the accuracy. Findings & value added: Although most currently available demand prediction models are either slow or complex, the entrepreneurial practice requires fast, simple, and accurate ones. The study results show that the alternative Pbands approach is easily applicable and can predict short-term demand changes. Due to its simplicity, the Pbands method is suitable and convenient to monitor short-term data describing the demand. Demand prediction methods based on technical indicators represent a new approach for demand forecasting. The application of these technical indicators could be a further forecasting models research direction. The future of theoretical research in forecasting should be devoted mainly to simplifying and speeding up. Creating an automated model based on primary data parameters and easily interpretable results is a challenge for further research.

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“…To create customer loyalty, senior management should understand the cost-saving benefits of retaining existing customers and implement communication channels for complaints (Khan, Yasir,, 2021).…”

Section: Advantages Of Loyaltymentioning

confidence: 99%

Impact of customer loyalty on the profitability of an organization: case study of China Unicom

Yaghoobi

2024

Int. J. Res. Publ. Rev.

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In this study, the link between perceived value, customer happiness, trust, brand quality, and customer loyalty is investigated. The study also explores how these factors impact profitability. It does this by conducting questionnaires and focus groups with individuals from other countries who have previous experience working for China Unicom Company. 440 questionnaires were gathered for the study, with 22 of them being incomplete. Both SPSS and LISREL were applied to carry out the analysis of the data. The findings may provide China Unicom management with a significant perspective, allowing them to compare the firm to its competitors and investigate the link between devoted customers and members of employees.The study examined the relationship between customer loyalty and company profitability, focusing on factors such as perceived value, customer satisfaction, trust, employee satisfaction, and service quality. A conceptual model was developed to examine and verify the link, and an assumption was established. Following the design and data collection as per the questionnaire, the impact of each factor on loyalty and profitability was assessed. The intended participants were international individuals who used or had experience with China Unicom Company in China. Structured questionnaires were used to gather data, and a structural equation modeling (SEM) analysis was performed to investigate the suggested connection. Out of 440 surveys gathered, 22 were incomplete. Data analysis was conducted on 420 surveys using SPSS and LISREL software. The results might offer valuable direction for China Unicom's management. Detailed interpretations were made of the assumptions. The following resolution was filed for research applications. The management provided ideas to managers with the intention that implementing these offers would enhance performance and conditions in the market.

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Factors Affecting Customer Loyalty in the Services Sector

Cited by 19 publications

References 43 publications

Employee satisfaction and motivation of retail store employees

Employee satisfaction and motivation of retail store employees

Demand forecasting: an alternative approach based on technical indicator Pbands

Impact of customer loyalty on the profitability of an organization: case study of China Unicom

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