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Fresh Perspectives: New Insights into Customer Relationship Management
Tue 10 October 2017, 08:00 – 09:30 BST
Switching Costs and Customer Retention
Customers from numerous firms regularly have the feeling of being “locked-in” in with their current provider due to the presence of switching costs. Switching costs are the onetime costs that customers associate with the process of switching from one provider to another (Burnham et al. 2003). They include customer perception of time, effort, and losses associated with provider switching. This presentation provides new insights into the effectiveness of this retention strategy.
It also shows which customer segments to target as a company. While it is obvious that customers with prior switching experience and provider expertise are less likely to be bound by switching costs, it is unclear whether customers differ with regard to switching costs perceptions depending on other customer characteristics (e.g., age, gender, income, risk aversion).
Benefits of attending
Challenge your thinking about customer loyalty, relationship and measurement.
Markus Blut is professor and chair in marketing at Aston Business School. Before joining Aston University, he worked as professor of marketing at Newcastle University Business School (UK). During the last years, he was invited as visiting professor by the University of Alabama (USA), Florida Atlantic University (USA), and Curtin University (AUS).
His research interests are related to service and retail marketing/management. He has published more than 150 articles in established journals, books, proceedings, and journals.
He regularly works together with international firms on joint research and consulting projects including BMW, Borussia Dortmund, Claas, Dr. Oetker, Henkel-Ecolab, KarstadtQuelle Bank, Karstadt Warenhaus, McDonald's, Mercedes-Benz, Merck, Procter and Gamble, Robert Bosch, and T-Mobile International among many others.