Investigating Customer Retention in Mining Industries: (Case Studies of Mill Liners Suppliers in Ghana)

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November, 2015
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The aim of every profit making organisation is to remain competitive and improve its market share. Traditionally, firms have achieved this goal by focusing their attention on marketing strategies that attract new customers and increase their market share. However, due to globalization, most industries and markets are becoming more and more competitive forcing significant changes in the way firms do business. In order to retain customers in industries characterized by high competition, firms need to meet each individual customer’s needs and expectations. Against this backdrop, the study sought to examine customer retention in the mill industry of Ghana. A total questionnaire of 186 were administered (consisting of 116 Customers and 70 Suppliers). Descriptive statistics in the form of frequencies, mean and standard deviation were used to describe the responses obtained. The study found that the main strategies being used by mill liner suppliers to retain their customers include the implementation of flexible pricing and payment, value creation and offering differentiated products/services to stay above the competition. It was also found that the main factors influencing customer retention in the mill lining industry is price, consistency in quality of products offered and quality service delivery. It was found that customers generally perceive the products and services offered by these mill liner suppliers as satisfactory and are willing to remain with their current suppliers. The study recommends that, since competition in the industry is keen, mill liner suppliers must offer differentiated products and services to enable them retain and attract new customers.
A Thesis submitted to the Department of Marketing and Corporate Strategy, College of Humanities and Social Sciences in partial fulfillment of the requirements for the degree of Master of Business Administration (Marketing),