Past Behavior: The Best Predictor of Future Behavior - or is it?

Abstract

Firms have traditionally focused on attracting new customers. However, since the early 1980’s, service researchers have drawn attention to the need to retain and do more business with current customers, as this has shown to provide substantial benefits. For some time, marketers have struggled to build and sustain customer loyalty over an extended period of time. However, creating and sustaining a lasting bond between a consumer and a product or service that ensures customer retention is a far more complex, interactive and dynamic a process.