ISSN: 2265-6294

Economy Pricing Strategy and Customer Retention – An Analysis

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Satya Subrahmanyam,Sara Azad Fouad Arif, Chiman Ahmed Hamad Ameen

Abstract

The new global economy is growing more and more focused on the consumer in the twenty-first century. One of the key relationship marketing ideas focused on creating and preserving a long-term customer-hospitality industry connection is customer retention. Since the majority of hospitality businesses began to experience discernible customer loss and the difficulty and high expense of gaining new customers, the importance of customer retention has risen. In contrast to a price strategy, which would indicate how hotels might reach their pricing targets, a strategy is involved with determining how a hospitality business will achieve its goals. For hospitality leadership, developing successful price strategies is essential, thus a pricing plan needs to be established and developed well in advance. The research aims to measure the relationship between pricing strategies (economy pricing) and customer retention in international hotels in Kurdistan. Though, based on the findings, the current research confirmed that pricing strategies (economy pricing) had a positively associated with customer retention

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