Loyalty in Crisis: Evidence from Greece

Ilias Vlachos, Dimitra Skoumpopoulou

Research output: Chapter in Book/Report/Conference proceedingChapterpeer-review

Abstract

This chapter examines customer loyalty across the supply chain during the economic crisis in Greece. Financial crisis started in Greece in 2008 and has resulted in severe recession. In 2011 Greece's total economic output was 16% below the pre-crisis peak. Government deficit and government debt in 2010 reached −10.6 and 144.9% of Gross Domestic Product, respectively (Eurostat, 2013). The current economic climate in Greece and elsewhere in Europe means that firms have to deal with high uncertainty and difficulties into remaining within competition. Hence, it is vital for firms to keep their customers since economic crisis means that it is not easy to invest into the acquisition of new customers. The importance of this study lies to the fact that no sufficient literature exists relating to the impact of the current financial crisis on customer loyalty across the supply chain. This gap of knowledge in the existing literature should be addressed as companies and academics would be interested in the results of our research since it could enlighten them regarding the marketplace and the customer needs, while it can help them to better manage, formulate and implement a customer driven marketing strategy.
Original languageEnglish
Title of host publicationStrategic Marketing in Fragile Economic Conditions
EditorsIrene samanta
Place of PublicationHershey, PA
PublisherIGI Global
Number of pages300
ISBN (Print)978-1466662322
DOIs
Publication statusPublished - 2014

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