Abstract:
Marketing strategies and customer retentions occupy predominant place in
marketing literatures. This research attempts to know the relationship between marketing
strategies and customer retention in handloom industry. This study selected a nonprobability
sampling technique i.e. convenience sampling to collect data from a sample size
of 100 customers. The method of data collection is based upon questionnaire. Results
revealed that all the items had alpha values more than 0.7 which assures the test reliability
of items taken into this study. In this study, correlation is used to know the relationships
between marketing strategies such as product, price, place & promotion and customer
retention. It has been identified that correlation coefficient of product was 0. 795. There is
strong positive relationship between people and customer satisfaction. It can also be
recognized that this dimension has highest value of person correlation when compared with
other variables. Correlation coefficient of Promotion was 0.577. There is strong positive
relationship between product and customer retention. Correlation coefficient of price was
0.492. There is moderate positive relationship between above price and customer
satisfaction. As well as, correlation coefficient of place was 0.369. There is moderate positive
relationship between place and customer retention. Results of multiple linear regression
analysis revealed that value of adjusted R square equals 0.728 explaining around 73% of
variation. Marketing mix such as product, price, place and promotion explain around 73% of
variation on customer retention.
