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Effects of Competitive Strategies on Customer Retention in G4s Security Services (K) Ltd

Journal: International Journal of Science and Research (IJSR) (Vol.3, No. 3)

Publication Date:

Authors : ;

Page : 192-196

Keywords : Private Security Company; Customer Retention; Customer Satisfaction; Strategic Account Management;

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This study sought to determine the effect of competitive strategies on retention of customers at G4S Security Services (K) Limited. Creating a customer was initially regarded as the solitary purpose of a business. Customer retention is now regarded as of key importance because it has become increasingly difficult for firms to assume that there exists an unlimited customer base prepared to maintain patronage. Retaining customers increases the profits of a firm which facilitates further investments leading to expansion and enhancing of competitive advantage. The problems envisaged as a result of loss of customers are damage to corporate image, low profitability, and loss of competitive edge. A descriptive research design was used while stratified sampling was used to select a sample of 75 respondents from a study population of 243 employees from the Cash management, Response, Courier, Manned Guarding, Secure Data, Sales and Marketing and Human Resource divisions at G4S Security Services Kenya Limited. A structured questionnaire was used to collect primary data. Data analysis was done using SPSS. The study found out that the company has a strategic account management department within the Sales and Marketing Division with employees who are qualified, dedicated and who know customers’ target consumer for back selling. The staff constantly explores new pathways with strategic accounts and share customers’ perception of value with product designers to enhance customer retention. The company offers tailored solutions for strategic accounts, regularly reviews on changes in strategic customer needs and periodically surveys on customer service satisfaction levels. The study recommends that G4S Security Services (K) Limited organizes SAM training programs for customer retention on a regular basis and develop appropriate decision support tools for strategic account managers. Formal processes must be structured for researching customer’s business needs through the periodic survey of their service satisfaction levels.

Last modified: 2014-03-23 22:30:26