QUALITY AND VALUE - THE KEYS TO ACHIEVE CUSTOMER RETENTION AND LOYALTY IN THE SERVICE SECTOR

In today's economy, being successful requires developing strategies that attract and retain customers over the long term. With the continued growth of new competitors and the increasingly knowledgeable and demanding consumer, achieving customer retention represents an absolute imperative for companies. The "right" marketing strategy considers customers' needs, wants and expectations to ensure customer satisfaction and achieve customer loyalty. Our paper focuses on the critical conditions that must be fulfilled in order to achieve customer satisfaction and long-term customer relationships. Quality is not an automatic guarantee of success; it's a necessary but insufficient condition of customer retention and loyalty. Value is critical to maintaining long-term relationships because it includes the concept of quality but is broader in scope. It is obvious that marketers have to face interesting challenges to develop long-term customer relationships. We are trying to find a solution for managing customer satisfaction and achieving customer retention and loyalty.