Influence of Building Market Relationship on FMCG Repeat Purchases: A study of India & Ghana
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Date
2018
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JOSEPH SCHOOL OF BUSINESS STUDIES, Sam Higginbottom University of Agriculture Technology and Sciences Allahabad-211007- Uttar Pradesh, India
Abstract
In business, relationship matters. As the world spins into the 21st century, dramatic changes are occurring at the marketplace. Relationship building with customers has become a key driver to market share and will have to be integrated into all areas of the business to achieve market objectives. As today’s business world is driven by customer demand, success in business is dependent on strong and effective customer relationship building in order to satisfy customer needs and provide a competitive advantage for the business. Today, the competition in most markets especially the FMCG sector has widened the choice of customers forcing significant changes in the way businesses operate. This is partly due to an increase in the rate of globalization: companies are now forced to compete internationally as well as locally. Thus, in order to remain competitive, sustain in the market and deliver satisfaction to customers, marketers must strive to create and build an effective, lasting and long-term market relationship with customers in order to meet their needs and give them satisfaction. This makes a contribution towards the achievement of business’ goals. The primary objective of this study was to discover the influence of building market relationship on FMCG repeat purchases. A sample of 500 respondents consisting of customers and business managers in the FMCG market in India and Ghana were chosen for the study. Both quantitative and qualitative methods were employed in this study to meet the stated objectives. Responses were analyzed with various statistical measures and the interpretations showed a high level of agreement between the independent and dependent variables. The findings from the study indicate that, building market relationship with customers has a very strong impact on repeat purchases. The study therefore recommends that businesses continuously strengthen, grow and protect the relationship they have with both existing and potential customers in order to sustain customers’ interest and desire for its products.
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