STUDY OF INFLUENCE OF SUSTAINABLE MARKETING PRACTICES ON CUSTOMER RETENTION AND CUSTOMER VALUE
Abstract
Firms today have a growing interest in sustainability as an aspect of business performance other than financial goals. Various factors (including societal mandates incorporated into regulations, concern about loss of sales and a potential decline in corporate reputation) pressure companies into implementing proper systems for managing sustainability (e.g. Lee, 2012).Sustainable marketing, as noted by numerous academics and practitioners, refers to a form of marketing that makes a net positive contribution to society in terms of environmental, social and economic developments. Firms’ interest in sustainability as an aspect of business performance other than financial goals has steadily increased. Sustainable marketing affect perceived value and loyalty of the customer. Customer value is “the fundamental basis for all marketing activity” (Holbrook, 1994, p. 22). And high value is one primary motivation for customer patronage. Customer loyalty has been viewed by some researchers as a specific desire to continue a relationship with a service provider (Czepiel & Gilmore, 1987). This study Conclude that there is significant positive effect of the perceived marketing sustainability on the perceived value as well as on customer loyalty.
Keyword : Perceived Marketing Sustainability, Perceived Customer Value, Customer Loyalty, Structural Equation Modeling (SEM)
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