Effect of Customer Relationship Management on Customer Satisfaction, Retention, Acquisition, and Loyalty: A Case of Istanbul Restaurants in a Dynamic Business Environment
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Purpose: The purpose of this research was to examine the implementation of Customer Relationship Management (CRM) and its impact on customer-centric factors such as customer satisfaction, customer acquisition, customer retention, and customer loyalty within the restaurant sector of Istanbul, Turkey. Research design, data, and methodology: The questionnaire was used to collect information using a descriptive methodology. Using a " stratified sampling method," 520 customer responses were gathered. The questionnaire was written clearly and concisely, and responses were marked on a 5-point Likert scale. Results: Based on the data, it is clear that CRM has a significant positive effect on the customer-centric characteristics that contribute to organizations’ successful and sustainable performance in the modern, competitive market. We found that CRM has positive effects on customer satisfaction (β=0.362, p=0.000), customer acquisition (β=0.310, p=0.000), customer retention (β=0.246, p=0.000), and customer loyalty (β=0.292, p=0.000). Conclusion: This paper makes a noteworthy contribution by addressing the gap in knowledge through its focus on CRM and other relevant factors. It will aid marketing managers and customer relationship officers in effectively administering the CRM system to uphold customer loyalty, retention, and acquisition.
Abstract
Purpose: The purpose of this research was to examine the implementation of Customer Relationship Management (CRM) and its impact on customer-centric factors such as customer satisfaction, customer acquisition, customer retention, and customer loyalty within the restaurant sector of Istanbul, Turkey. Research design, data, and methodology: The questionnaire was used to collect information using a descriptive methodology. Using a " stratified sampling method," 520 customer responses were gathered. The questionnaire was written clearly and concisely, and responses were marked on a 5-point Likert scale. Results: Based on the data, it is clear that CRM has a significant positive effect on the customer-centric characteristics that contribute to organizations’ successful and sustainable performance in the modern, competitive market. We found that CRM has positive effects on customer satisfaction (β=0.362, p=0.000), customer acquisition (β=0.310, p=0.000), customer retention (β=0.246, p=0.000), and customer loyalty (β=0.292, p=0.000). Conclusion: This paper makes a noteworthy contribution by addressing the gap in knowledge through its focus on CRM and other relevant factors. It will aid marketing managers and customer relationship officers in effectively administering the CRM system to uphold customer loyalty, retention, and acquisition.
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