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The Impact of Loyalty Program on Customer Retention: Empirical Evidence from Bangladesh
AHSAN, Syed Md. Hasib,ALAUDDIN, Md.,ALAM, Mohammad Manjur,NAZIA, Adiba,ISLAM, Tasnim Korea Distribution Science Association 2022 The Journal of Asian Finance, Economics and Busine Vol.9 No.6
The purpose of this paper is to examine how loyalty programs designed by retail stores affect customer retention. The present study is one of the few empirical studies finding the role of different loyalty programs that help to build customer retention. The study also seeks to explore the moderation role of customer perceived value between intrinsic motivation - customer retention and extrinsic motivation - customer retention. The researchers employed a quantitative research design to collect data from the 350 respondents who purchased goods from the retail chain/departmental stores in Bangladesh. The collected data are then analyzed using structural equation modeling. The result of their findings indicated that the size of the organizational reward has a positive effect on intrinsic and extrinsic motivation; further extrinsic motivation has a significant relation to customer retention. Surprisingly, no support was found for the positive impact of intrinsic motivation on customer retention. Customer perceived value (CPV) is critical as a moderator in building client retention, which improves the positive association between extrinsic motivation and customer retention. CPV, on the other hand, was found to mitigate the negative link between intrinsic motivation and client retention.
Mohammad Manjur ALAM,Md. ALAUDDIN,Mohd Yasin SHARIF,Evana Nusrat DOOTY,Syed Md. Hasib AHSAN,Mustafa Manir CHOWDHURY 한국유통과학회 2021 The Journal of Asian Finance, Economics and Busine Vol.8 No.9
Educational institutions play a critical role in national development through the advancement of skilled human resources and intellectual society. The number of higher educational institutions (HEIs) is increasing significantly in Bangladesh. Students have a number of options from which to select their preferred educational institutions. Hence, HEIs should think about the quality of services they provide to students. The objective of this study is to measure students’ satisfaction and university reputation through service quality (SQ) in a private higher educational institution (PriHEI) in Bangladesh. Primary data was collected from 270 students of International Islamic University Chittagong (IIUC), Bangladesh, through a simple random sampling technique. In this study, data was analyzed through descriptive statistics, correlation, measurement model using confirmatory factor analyses, and structural equation modeling (SEM). The results showed that transport services have indirect but medical and physical facilities have both direct and indirect significant effects on overall students’ satisfaction. Further, the administrative services and research facilities have significant indirect effects on overall students’ satisfaction. Finally, the results of structural equation modeling (SEM) confirm that the reputation of the university is directly associated with overall students’ satisfaction.