Journal of Economics and Business

ISSN 2615-3726 (Online)

ISSN 2621-5667 (Print)

Published: 16 November 2020

Customer Retention at Republic Bank in Ghana: A Marketing Perspective

George Kankam Jr.

University of Education, Ghana

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10.31014/aior.1992.03.04.293

Pages: 1472-1478

Keywords: Customer Retention, Customer Satisfaction, Service Quality, Customer Trust

Abstract

In today's highly competitive environment, customer retention is an essential aspect of every banking strategy. The study explores the retention factors that affect the choices of consumers to remain with the Republic Bank in Ghana. The correlation research design was used for the study within which the simple random sampling technique was used. Data were obtained through self-administered questionnaires to 480 customers of the bank. Correlation and multiple regression techniques were used to examine the relationships between customer satisfaction, service quality, customer trust, customer commitment and switching barrier factors and customer retention. The findings revealed a strong positive relationship between switching barrier, customer commitment and customer retention. The study therefore, recommended that Management should pay attention to customer commitment by investing more into customer relationship management that can increase customers’ dependency and inhibit switching.

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