5.00
Hdl Handle:
http://hdl.handle.net/10547/294882
Title:
Acquiring and retaining customers in UK banks: an exploratory study
Authors:
Farquhar, Jillian Dawes; Panther, Tracy
Abstract:
This paper explores how traditional banks1 in the UK are managing customer acquisition (CA) at the same time as the retention of profitable customers. In spite of the interest of UK banks in retention, new customers often receive more favourable prices and conditions than existing customers, suggesting that acquisition may dominate. To explore the balance between acquisition and retention and to discover marketing activities that might support both, semi-structured interviews were conducted with a small sample of senior bank staff in the UK. Analysis of the interviews, using computer-aided software indicated that banks are indeed trying to manage acquisition with retention but encountering a range of difficulties as they revisit long-held strategies. The study also suggests seven activities that might contribute to a better balancing of CA with retention. By seeking expert management opinion through a qualitatively based study, this research proposes a preliminary framework of marketing activities that support both acquisition and retention.
Citation:
Farquhar, J. & Panther, T. (2008), 'Acquiring and retaining customers in UK banks: An exploratory study 2008', Journal of Retailing and Consumer Services, 15(1), pp. 9-21.
Publisher:
Elsevier
Journal:
Journal of Retailing and Consumer Services
Issue Date:
2008
URI:
http://hdl.handle.net/10547/294882
DOI:
10.1016/j.jretconser.2007.02.001
Additional Links:
http://linkinghub.elsevier.com/retrieve/pii/S0969698907000112
Type:
Article
Language:
en
ISSN:
0969-6989
Appears in Collections:
Centre for Advances in Marketing (CAM)

Full metadata record

DC FieldValue Language
dc.contributor.authorFarquhar, Jillian Dawesen_GB
dc.contributor.authorPanther, Tracyen_GB
dc.date.accessioned2013-06-28T14:10:49Z-
dc.date.available2013-06-28T14:10:49Z-
dc.date.issued2008-
dc.identifier.citationFarquhar, J. & Panther, T. (2008), 'Acquiring and retaining customers in UK banks: An exploratory study 2008', Journal of Retailing and Consumer Services, 15(1), pp. 9-21.en_GB
dc.identifier.issn0969-6989-
dc.identifier.doi10.1016/j.jretconser.2007.02.001-
dc.identifier.urihttp://hdl.handle.net/10547/294882-
dc.description.abstractThis paper explores how traditional banks1 in the UK are managing customer acquisition (CA) at the same time as the retention of profitable customers. In spite of the interest of UK banks in retention, new customers often receive more favourable prices and conditions than existing customers, suggesting that acquisition may dominate. To explore the balance between acquisition and retention and to discover marketing activities that might support both, semi-structured interviews were conducted with a small sample of senior bank staff in the UK. Analysis of the interviews, using computer-aided software indicated that banks are indeed trying to manage acquisition with retention but encountering a range of difficulties as they revisit long-held strategies. The study also suggests seven activities that might contribute to a better balancing of CA with retention. By seeking expert management opinion through a qualitatively based study, this research proposes a preliminary framework of marketing activities that support both acquisition and retention.en_GB
dc.language.isoenen
dc.publisherElsevieren_GB
dc.relation.urlhttp://linkinghub.elsevier.com/retrieve/pii/S0969698907000112en_GB
dc.rightsArchived with thanks to Journal of Retailing and Consumer Servicesen_GB
dc.subjectcustomer acquisitionen_GB
dc.subjectretentionen_GB
dc.subjectqualitative studyen_GB
dc.subjectservicesen_GB
dc.subjectUK banksen_GB
dc.subjectbankingen_GB
dc.titleAcquiring and retaining customers in UK banks: an exploratory studyen
dc.typeArticleen
dc.identifier.journalJournal of Retailing and Consumer Servicesen_GB
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