The effect of customer loyalty strategies on market share: A study of a telecommunications firm in Lagos
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Background of the Study:
Customer loyalty strategies are critical in shaping market share, particularly in highly competitive sectors such as telecommunications. In Lagos, telecommunications firms are adopting various loyalty initiatives—ranging from reward programs to exclusive service benefits—to retain customers and gain a competitive edge (Adeola, 2023). By fostering long-term relationships, these firms aim to reduce churn and increase customer retention, which directly contributes to a larger market share. Loyalty strategies such as personalized offers, premium support, and loyalty tiers are designed to create lasting customer relationships and promote repeat business. With advancements in digital communication and data analytics, firms can now better target loyal customers and refine their service offerings. This study examines how customer loyalty strategies impact the market share of a telecommunications firm in Lagos, investigating the link between customer retention efforts and competitive positioning in a rapidly evolving market (Ibrahim, 2024).
Statement of the Problem
Despite significant investments in customer loyalty strategies, many telecommunications firms in Lagos struggle to quantify their impact on market share. The absence of standardized metrics to evaluate the effectiveness of loyalty initiatives leads to uncertainty in resource allocation and strategy development. This study aims to address the gap by examining how loyalty strategies influence market share, providing empirical evidence to support more effective marketing practices (Chinwe, 2023).
Objectives of the Study
To assess the impact of customer loyalty strategies on market share.
To identify which loyalty initiatives most effectively contribute to increased market share.
To recommend improvements for optimizing loyalty strategies in telecommunications.
Research Questions
How do customer loyalty strategies affect market share in the telecommunications sector?
What specific loyalty initiatives drive significant market share gains?
How can telecommunications firms optimize their loyalty strategies to enhance competitive positioning?
Significance of the Study
This study provides essential insights into the effectiveness of customer loyalty strategies in increasing market share. The findings will guide telecommunications firms in Lagos to refine their loyalty initiatives, leading to improved retention and a stronger competitive position in the market.
Scope and Limitations of the Study
This study is limited to a telecommunications firm in Lagos, Nigeria, focusing solely on customer loyalty strategies and their impact on market share. It does not extend to other industries or regions.
Definitions of Terms
Customer Loyalty Strategies: Initiatives designed to foster long-term customer retention and repeat business.
Market Share: The proportion of total sales in a market captured by a company.
Telecommunications Firm: A company that provides communication services such as voice, data, and internet.
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