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- Title
CO-CREATION OF VALUE MARKETING: A STRATEGY FOR BUILDING CUSTOMER LOYALTY IN THE NIGERIAN HOTEL INDUSTRY.
- Authors
GBANDI, ELEAZAR CHIBUZOR; OWARE, PATIENCE UWARAYE
- Abstract
The study investigated the relationship between value co-creation marketing and customer loyalty in Nigeria's hotel industry. The DART theory, which outlined how the co-creation of value will foster consumer loyalty, was used as a theoretical framework. Twenty (20) hotels registered with the Nigerian Corporate Affairs Commission, including 3-star, 4-star, and 5-star hotels, were chosen and the study employed a sample size of 400 customers. Each randomly chosen hotel guests received twenty copies (20) of the questionnaire, for a total distribution to respondents of 400 copies of the questionnaire, of which 382 were deemed relevant for data analysis. Multiple regression statistics were used to analyze the data. The study found a strong correlation between co-creating value marketing (Dialogue, Access, Risk assessment, and Transparency) and customer loyalty in the hotel industry in Nigeria. Considering this, the study recommended that management should place greater attention on enhancing customer involvement and participation in services rendered to them using the DART model.
- Subjects
NIGERIA; CUSTOMER cocreation; CUSTOMER loyalty; HOTELS; MARKET value; MARKETING strategy; REGRESSION analysis; CONSTRUCTION industry; HOTEL marketing
- Publication
Journal of Academic Research in Economics, 2023, Vol 15, Issue 1, p88
- ISSN
2066-0855
- Publication type
Article