Study On Trusteffect On Customer Retention And Customer Value Enhancement In Industrial Enterprise

With the development of economic globalization and raise the level of technology, competing for customers is becoming increasingly fierce in the indusrial market. Due to the features in industrial market such as the large customer purchase, customer less, rational purchase, the collective to make a buying decision and so on, industrial enterprise already can’t rely only on constantly develop new customers to win the competion. One way to promote industrial enterprises to gain greater competitive advantage is to keep clients reaources and improve customer value through the building customer trust. This has become the consensus of the enterprise to win the market. In order to better grasp the effect mechanism of customer trust on customer retention and customer value enhancement, improve the targeted and marketing level of CRM,"trust" as the entry point in this paper to be used to explore the customer relationships’interaction process between upstream and downstream firms from the perspective of customers in the industrial market.Based on existing relevant research, we divided the dimensions of customer trust, customer retention and value enhancement in the industrial market by relevant economic theories and marketing principals. Build the structural equation model between customer trust, customer retention and customer value enhancement which utilized statistic method. Through a questionnaire design and survey, a two-stage empirical research is conducted, and achievements are concluded as following:(1) Measuring dimension of industrial enterprise customers trust is establishedIn the industrial market environment, the preliminary measurement dimensions are set up with the corrected-item total correlation (CITC) analysis and exploratory factor analysis (EFA) while the final measurement dimensions are confirmed with confirmatory factor analysis (CFA) and structure equation inspection. The three measurement dimensions are calculus based trust, knowledge based trust and identification based trust.The results show that the three measurement dimensions are more suitable for industrial enterprise customers trust.(2) Construction of the customer retention and value enhancement dimension in the industrial marketBeing different from the previous studies on customer retention and value, in this paper, customer retention and customer value are combined. Five measurement dimensions of customer retention and value enhancement are repeat purchase, price patience, recommendation intention, information exchange and cross purchase and provide a standard for the research enterprise customer value.(3) Demostrated customer trust effect on customer retention and customer value enhancement in the industrial marketThe structure equation model(SEM) is constructed and verified in which customer trust is defined as independent variable, customer retention and value enhancement as dependent variable, with customer satisfaction and customer perceptive value as mediator.The study suggests that in the background of industrial market, customer trust has strong direct positive effect on customer retention and value enhancement, and affects customer retention and value enhancement indirectly with customer perceptive value. However, the relationship between customer satisfaction and customer rentention, value enhancement was not significant. Therefor related businesses in order to elevate customer value and make them loyal customers, we have to improve customer trust, promote customer perceptive value, but achieve customer satisfaction is not enough.