Study of Customer Loyalty in Small and Medium-Sized Enterprises in the Field of Trade in Bulgaria

Abstract

Research background: In the context of globalization and the increasingly competitive environment, customer loyalty plays an important role in the long-term success of small and medium-sized enterprises. Research by various authors has shown that loyalty is an important customer-oriented marketing tool and is directly dependent on customer satisfaction. Customer loyalty is highly influenced by the quality of the products, the applied price strategy and the good communication between enterprises and customers. Loyalty is the main aim of strategic enterprises marketing planning and is the key to retaining customers. The adoption and application of the loyalty approach in enterprises activity is a prerequisite for increase the trend of customers towards more frequent products consumption and enlarge their desire for more purchases. In connection with solving the problem of customer loyalty, researchers focus on its influencing factors and highlight as most important the following: satisfaction, trust, commitment, customer value and service quality. Purpose of the article: This report clarifies the peculiarities of customer loyalty and based on an analysis of the factors influencing it brings out the main problems of small and medium-sized enterprises in the field of trade in Bulgaria. Methods: The sources that were used include a questionnaire survey of 64 enterprises. The analysis and evaluation are based on statistical methods. Findings & Value added: The findings include identification of problems, related to the customer loyalty in small and medium-sized enterprises in the field of trade in Bulgaria. The study can be used as a model for analysis of customer loyalty in the trade sector.