An exploratory study that focused on Hong Kong shopping centers looked at the connection between impact marketing tactics, promotional elements, and client retention.
Abstract
The study examines the correlation between marketing strategy and customer retention in Hong Kong's shopping center sector. Additionally, key elements of the marketing strategy are identified and utilized to augment and sustain customer loyalty to the shopping centers. The last few decades have seen a notable increase in the rate of economic development. The way that consumers shop has also changed dramatically; instead of buying goods in general stores, they now shop in enclosed malls with air conditioning and a soothing ambiance. This change has helped to create favorable circumstances and an atmosphere that have aided in the shopping center industry's explosive growth. Due to the fierce competition that exists between retail establishments and the As the importance of preserving customer loyalty in the retail industry becomes more widely acknowledged, shopping center managers are putting more of an emphasis on examining how their marketing plans can help them retain their current clientele, which will increase both their revenue from rentals and foot traffic. Through a thorough examination of pertinent literature, the key components of the marketing strategy for the shopping center industry have been identified. The aim of the customer survey was to investigate the opinions of the customers regarding various marketing elements that could influence their choice to visit the shopping mall again. The survey was carried out at large shopping centers in several different countries. According to the survey, There exists a correlation between customer retention and satisfaction. It was discovered that patrons who made more weekly trips to the shopping center expressed greater satisfaction with the services offered by the center. This finding raises the possibility that a shopping center's ability to retain customers may be influenced by their level of satisfaction. According to the poll's results, returning customers are more likely to spend more money when they shop, which implies that shopping centers can improve their overall performance and return on investment if they can successfully retain their current clientele.
Keywords
Marketing Strategies, Promotional Components, Customer Retention, Shopping Centers
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Copyright (c) 2023 ZHANG XIANGHAN, ABHIJIT GHOSH (Author)
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