Analyzing The Relationship of Customer Engagement, Customer Satisfaction and Customer Retention in The Indian Healthcare Industry
Keywords:Customer Engagement, Customer Commitment, Customer Satisfaction, Customer Participation and Customer Retention.
Purpose: The current study examines the link between customer engagement and other relationship marketing variables such as customer commitment, satisfaction, participation, and, eventually, customer retention. The function of mediators (customer commitment, customer satisfaction, and customer participation) in the link between customer engagement and customer retention is also highlighted.
Design/Methodology/Approach: A theoretical model is built and evaluated using structural equation modelling to achieve the goal. The researchers used research scales from the literature and adjusted them to fit their needs. A total of 305 respondents (patients/attendants) from various hospitals were questioned. The data was examined using structural equation modelling (AMOS 26.0) to analyse all of the correlations between the variables indicated in the theoretical model.
Findings: According to the findings, the variables in this analysis have a direct significant positive association with one another at the p=0.001 significance level (with the exception of the relationship between consumer engagement and customer, which has a positive relationship at p=0.05 significance level). Furthermore, the association between customer engagement and customer retention is fully mediated by customer commitment, whereas the relationship between customer engagement and customer retention is partially mediated via customer satisfaction and customer participation.
Originality/Value: While there are studies on the relationship between customer engagement and customer retention, none of them include the effect of mediators taken together in this study. Given addition, in the current situation, an examination of these factors in the context of the Indian private healthcare market is crucial.