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Customer retention and price matching: The AFPs case

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Author Info

  • Hidalgo, Pedro
  • Manzur, Enrique
  • Olavarrieta, Sergio
  • Fari­as, Pablo

Abstract

Understanding the long-term price matching effects on CLV is important in evaluating the effectiveness of these policies in stimulating customer retention. In industries with low brand differentiation and low customer involvement (e.g., private pension system), it can be seen that choosing a brand is based on inertia. The objective of this article is to analyze the convenience for the firm of improving customer retention, by matching the lowest price in the Chilean private pension system. Results suggest that matching the industry's price leader reduces the firm's CLV, thus diminishing firm incentives to make this marketing effort.

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Bibliographic Info

Article provided by Elsevier in its journal Journal of Business Research.

Volume (Year): 61 (2008)
Issue (Month): 6 (June)
Pages: 691-696

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Handle: RePEc:eee:jbrese:v:61:y:2008:i:6:p:691-696

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Web page: http://www.elsevier.com/locate/jbusres

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References

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  1. Srivastava, Joydeep & Lurie, Nicholas, 2001. " A Consumer Perspective on Price-Matching Refund Policies: Effect on Price Perceptions and Search Behavior," Journal of Consumer Research, University of Chicago Press, vol. 28(2), pages 296-307, September.
  2. Peter Diamond, 2005. "Reforming public pensions in the US and the UK," LSE Research Online Documents on Economics 24662, London School of Economics and Political Science, LSE Library.
  3. Feldstein, Martin, 1978. "Do private pensions increase national savings?," Journal of Public Economics, Elsevier, vol. 10(3), pages 277-293, December.
  4. Pitelis, Christos N, 1985. "The Effects of Life Assurance and Pension Funds on Other Savings: The Postwar UK Experience," Bulletin of Economic Research, Wiley Blackwell, vol. 37(3), pages 213-29, September.
  5. Kukar-Kinney, Monika, 2006. "The role of price-matching characteristics in influencing store loyalty," Journal of Business Research, Elsevier, vol. 59(4), pages 475-482, April.
  6. Gountas, Sandra & Ewing, Michael T. & Gountas, John I., 2007. "Testing airline passengers' responses to flight attendants' expressive displays: The effects of positive affect," Journal of Business Research, Elsevier, vol. 60(1), pages 81-83, January.
  7. Mano, Haim & Oliver, Richard L, 1993. " Assessing the Dimensionality and Structure of the Consumption Experience: Evaluation, Feeling, and Satisfaction," Journal of Consumer Research, University of Chicago Press, vol. 20(3), pages 451-66, December.
  8. Schieber, Sylvester J & Shoven, John B, 1996. "Social Security Reform: Around the World in 80 Ways," American Economic Review, American Economic Association, vol. 86(2), pages 373-77, May.
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Citations

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Cited by:
  1. Olavarrieta, Sergio & Villena, Mauricio G., 2014. "Innovation and business research in Latin America: An overview," Journal of Business Research, Elsevier, vol. 67(4), pages 489-497.
  2. Valenzuela, Leslier & Torres, Eduardo & Hidalgo, Pedro & Farías, Pablo, 2014. "Salesperson CLV orientation's effect on performance," Journal of Business Research, Elsevier, vol. 67(4), pages 550-557.
  3. Olavarrieta, Sergio & Hidalgo, Pedro & Manzur, Enrique & Farías, Pablo, 2012. "Determinants of in-store price knowledge for packaged products: An empirical study in a Chilean hypermarket," Journal of Business Research, Elsevier, vol. 65(12), pages 1759-1766.
  4. Manzur, Enrique & Olavarrieta, Sergio & Hidalgo, Pedro & Farías, Pablo & Uribe, Rodrigo, 2011. "Store brand and national brand promotion attitudes antecedents," Journal of Business Research, Elsevier, vol. 64(3), pages 286-291, March.
  5. Mohammed Belal Uddin & Bilkis Akhter, 2012. "Customer Satisfaction In Mobile Phone Services In Bangladesh: A Survey Research," Management and Marketing Journal, University of Craiova, Faculty of Economics and Business Administration, vol. 0(1), pages 20-36, May.

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