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Drivers of Consumer Loyalty in the Wellness Sector

Drivers of Consumer Loyalty in the Wellness Sector
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Author(s): Shivani Saini (Dr. B. R. Ambedkar National Institute of Technology, Jalandhar, India) and Jagwinder Singh (Dr. B. R. Ambedkar National Institute of Technology, Jalandhar, India)
Copyright: 2020
Pages: 16
Source title: Innovative Management and Business Practices in Asia
Source Author(s)/Editor(s): Patricia OrdoƱez de Pablos (The University of Oviedo, Spain), Xi Zhang (Tianjin University, China) and Kwok Tai Chui (The Open University of Hong Kong, Hong Kong)
DOI: 10.4018/978-1-7998-1566-2.ch005

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Abstract

Facing a severely competitive environment and unique consumer expectations, cultivating consumer loyalty seems crucial for every firm. Rather than to cultivate, marketers find it more difficult to sustain a loyal consumer base. Understanding loyalty drives is of utmost importance now, and it is the main concern of this study. Faced with lack of structural management approaches in reference to relationship practices, this chapter provides a cohesive understanding of loyalty drivers in application of acquisition, retention, and experience strategies. The study involved a survey of 200 consumers of wellness firms. A confirmatory factor analysis has been employed to evaluate consumers' priority among acquisition, retention, and experience-based marketing strategies. The study offers valuable insights to wellness firms to fine-tune their CRM programmes in view of traditional and modern practices. As experience is very complex while acquisition and retention are highly imitable, firms need to embrace it with clarity to select the right elements to gain consumer loyalty.

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