TABLE OF CONTENTS
ABSTRACT. ii
TABLE OF CONTENTS………………………………………………………iii
CHAPTER ONE
INTRODUCTION
1.1 Background to the Study. 1
1.2 Statement of the Problem.. 3
1.3 Objectives of the Study. 5
1.4 Research Questions. 5
1.5 Research Hypothesis. 6
1.6 Significance of the Study. 6
1.7 Scope of the Study. 7
1.8 Limitations of the Study. 7
1.9 Organization of the Study. 7
CHAPTER TWO
REVIEW OF RELATED LITERATURE
2.1 Introduction. 9
2.2 Theoretical Review.. 9
2.2.1 Customer-Centric Marketing Theory. 9
2.2.2 Emotional Engagement Theory. 9
2.2.3 Experiential Marketing Theory. 10
2.2.4 Value Co-Creation Theory. 10
2.3 Conceptual Review.. 11
2.3.1 Overview.. 11
2.3.2 Understanding Customer Experience. 11
2.3.3 Impact on Marketing Success. 12
2.3.4 Creating Memorable Experiences. 12
2.3.5 Integration of Technology. 12
2.3.6 Employee Engagement and Training. 13
2.3.7 Measuring and Improving CX. 13
2.3.8 Aligning CX with Brand Values. 13
2.3.9 Case Studies. 14
2.4 Empirical Review.. 14
2.5 Summary of Chapters. 16
CHAPTER THREE
RESEARCH METHODOLOGY
3.1 Research Design. 17
3.2 Population of the Study. 17
3.3 Sample Size and Sampling Technique. 18
3.4 Data Collection Instruments. 18
3.5 Validity and Reliability of Instruments. 18
3.6 Method of Data Collection. 19
3.7 Method of Data Analysis. 19
3.8 Ethical Considerations. 20
3.9 Limitations of the Study. 20
CHAPTER FOUR
DATA ANALYSIS AND INTERPRETATION
4.1 Preamble. 22
4.2 Socio-Demographic Characteristics of Respondents. 22
4.3 Analysis of the Respondents’ Views on Research Question one: 27
4.4 Research Hypothesis. 38
4.5 Discussion of Findings. 39
CHAPTER FIVE
SUMMARY OF FINDINGS, CONCLUSION AND RECOMMENDATIONS
5.1 Summary of Findings. 42
5.2 Conclusion. 43
5.3 Recommendations. 44
REFERENCES. 47
APPENDICES. 51
Appendix I: Research Questionnaire: The Role of Customer Experience in Marketing Success of a Firm (A Case Study of OneTorch Phone Stores, Uyo) 51
CHAPTER ONE
INTRODUCTION
1.1 Background to the Study
At the beginning of the marketing phase, various marketing initiatives were launched to ensure the success of the product in the market by evaluating its physical characteristics including product quality, quantity, marketing features, product availability and customer support. Recently, there has been a paradigm shift in which marketing managers are increasingly prioritizing creating value for customers and providing unique and positive experiences (Pine and Gilmore, 1998; Gilmore and Pine, 2002). Nearly 85% of executives think that conventional tactics like pricing and delivery are ineffective, according to research by Shaw and Ivens (2002). In today's practice, customer experience has emerged as a key differentiator in value creation. Gaining a competitive edge requires using the customer experience concept, which is widely considered to be a crucial internet marketing tactic. A company's interactions with its customers over the course of their relationship are collectively referred to as the customer experience. These interactions span a customer's journey from attraction, awareness and discovery, through nurturing and advocacy, to purchasing and using goods and services. It is evaluated based on a person's experience at each touchpoint relative to their expectations (SAS Institute Inc., 2016).
In the current business climate, customer experience (CX) has emerged as a critical component that affects marketing success for businesses across a range of sectors. Companies are realizing more and more that delivering exceptional customer experiences is crucial to long-term growth and profitability as well as a competitive advantage as markets become saturated and competition heats up (Pine et al.,1998). Creating a satisfying consumer experience is essential to increasing brand loyalty. Customers tend to stick with brands that prioritize their needs and provide smooth interactions across all touchpoints, as indicated by researches. Companies can personalize their marketing strategy to their target audience by focusing on understanding their preferences, habits, and concerns. In addition to increasing brand loyalty, this tailored approach motivates customers to serve as brand ambassadors, which helps the company's marketing campaigns by fostering positive evaluations and word-of-mouth (Tsiros and Schlesinger, 2009). A major factor in making customer acquisition simpler is also enhancing the customer experience. In today's interconnected environment, where social media and online feedback wield considerable influence, a single negative encounter can deter prospective customers from engaging with a business. In contrast, an exceptional customer experience can act as a formidable marketing asset, drawing in new clientele and enhancing the company's reputation.
By continuously exceeding customer expectations and creating memorable experiences, organizations may turn satisfied customers into brand ambassadors who spread the word about the company to their social networks, expanding its market reach and clientele (Kumar et al., 2010).
Furthermore, prioritizing customer experience is critical for building long-term relationships with clients. Due to intense competition and the commercialization of products, businesses cannot rely solely on pricing strategies or product attributes to retain customers. Instead, their focus should be on building long-lasting relationships and providing value that goes beyond simple transactions. Businesses can establish enduring connections that lead to ongoing revenue and a competitive advantage in the marketplace by putting a high priority on building trust, responding to client concerns, and consistently providing outstanding service (Keiningham et al., 2007).
Against this background this study seeks to explore the significant role that customer experience plays in the marketing success of firms.
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1.2 Statement of the Problem
Despite the growing recognition of the significance of customer experience (CX) in driving marketing success, many firms still struggle to fully grasp its intricacies and integrate it effectively into their strategies. One of the primary challenges lies in understanding how various components of CX, such as pre-purchase interactions, product/service delivery, and post-purchase support, collectively influence marketing outcomes. Additionally, there is a lack of consensus on the metrics and methodologies for measuring and evaluating CX's impact on marketing success, making it difficult for firms to quantify their efforts and optimize their strategies accordingly. Moreover, as consumer preferences and behaviors continue to evolve in response to technological advancements and changing market dynamics, firms face the ongoing challenge of adapting their CX strategies to meet shifting expectations and maintain competitiveness. This gap in understanding and implementation poses a significant obstacle for firms seeking to leverage CX as a strategic asset for driving marketing success (Pine II and Gilmore, 1998).
Furthermore, another critical aspect of the problem is the increasing complexity of customer journeys across multiple channels and touchpoints. With the proliferation of digital platforms and the rise of omnichannel experiences, customers now expect seamless interactions and consistent messaging across online and offline channels. However, many firms struggle to orchestrate these complex customer journeys effectively, leading to disjointed experiences and missed opportunities for engagement. Moreover, as competition intensifies and customers become more discerning, firms must contend with the challenge of standing out amidst the noise and delivering truly differentiated experiences that resonate with their target audience. Addressing these issues requires a nuanced understanding of customer needs and preferences, as well as the strategic agility to adapt and innovate in response to evolving market dynamics. Thus, the role of customer experience in the marketing success of a firm presents a multifaceted and pressing challenge that necessitates comprehensive research and strategic action (Tsiros and Schlesinger, 2009).Top of FormBottom of Form
1.3 Objectives of the Study
The main objective of the study is to examine the role of customer experience in marketing success of a firm. Specific objectives of the study are:
- To quantify the impact of customer experience (CX) on key marketing metrics.
- 2. To identify best practices for integrating CX into the marketing strategy.
- 3. To investigate the role of emerging technologies in enhancing CX for marketing.
1.4 Research Questions
To guide the study and achieve the objectives of the study, the following research questions were formulated:
- What is the correlation between Net Promoter Score (NPS) and CAC/CLTV in specific industries?
- How are companies in different industries successfully integrating customer feedback into their marketing efforts?
- How can AI-powered chatbots be used to enhance customer experience and support marketing goals?
1.5 Research Hypothesis
The following research hypothesis was developed and tested for the study:
Ho: There is no statistical significant relationship between customer experience and marketing success of a Firm.
1.6 Significance of the Study
The study is important for many reasons. The following are the major stakeholders this paper through its practical and theoretical implications and findings will be of great significance:
Firstly, the paper will benefit major stakeholders and policy makers in the Marketing sector. The various analysis, findings and discussions outlined in this paper will serve as a guide in enabling major positive changes in the industry and sub-sectors.
Secondly, the paper is also beneficial to the organizations used for the research. Since first hand data was gotten and analyzed from the organization, they stand a chance to benefit directly from the findings of the study in respect to their various organizations. These findings will fast track growth and enable productivity in the organizations used as a case study.
Finally, the paper will serve as a guide to other researchers willing to research further into the subject matter. Through the conclusions, limitations and gaps identified in the subject matter, other student and independent researchers can have a well laid foundation to conduct further studies.
1.7 Scope of the Study
The study is delimited to Onetorch Phone Stores, Uyo. Findings and recommendations from the study reflects the views and opinions of respondents sampled in the area. It may not reflect the entire picture in the population.
1.8 Limitations of the Study
The major limitations of the research study are time, financial constraints and delays from respondents. The researcher had difficulties combining lectures with field work. Financial constraints in form of getting adequate funds and sponsors to print questionnaires, hold Focus group discussions and logistics was recorded. Finally, respondents were a bit reluctant in filling questionnaires and submitting them on time. This delayed the project work a bit.
1.9 Organization of the Study
The study is made up of five (5) Chapters. Chapter one of the study gives a general introduction to the subject matter, background to the problem as well as a detailed problem statement of the research. This chapter also sets the objectives of the paper in motion detailing out the significance and scope of the paper.
Chapter Two of the paper entails the review of related literature with regards to corporate governance and integrated reporting. This chapter outlines the conceptual reviews, theoretical reviews and empirical reviews of the study.
Chapter Three centers on the methodologies applied in the study. A more detailed explanation of the research design, population of the study, sample size and technique, data collection method and analysis is discussed in this chapter.
Chapter Four highlights data analysis and interpretation giving the readers a thorough room for the discussion of the practical and theoretical implications of data analyzed in the study.
Chapter Five outlines the findings, conclusions and recommendations of the study. Based on objectives set out, the researcher concludes the paper by answering all research questions set out in the study.
