Relationships Between Experiential Marketing, Customer Satisfaction and Loyalty- An Empirical Study in Lucknow on Experiential Marketing and Its Contribution Towards Customer Happiness

Abstract

Good companies sell products and services, Great ones deliver experiences. Earlier companies use to sell products and services now the trends are changing now companies more focusing on selling experience to the customers . Experience Marketing is a new emerging and exciting concept in which meaning of experience is much more than value/or money or satisfaction. In this research paper I will discuss the key concepts of experiential marketing such as experience value. Experiential marketing is one of the marketing approaches that offer an exceptional framework to · integrate elements of experience and entertainment in a product or service. This marketing strategy is not only about how to sell our product to our customers but also about how to give experiential sensation to customers. By doing experiential marketing, the producer or the owner can maintain their relationship with the existing customers, attract potential customers, and finally have loyal and satisfied customers. Experiential marketing is defined as a memorable experience that goes deeply into the customer's mind. Besides that, customer satisfaction is defined as an emotional response to the experiences provided by and associated with particular products or services purchased. Thus, experiential marketing activities can affect the level of customer satisfaction and loyalty. In this context, the research aims to explore the relationship among experiential marketing, customer satisfaction and loyalty among the four wheeler customers in Lucknow. The partial least squares ( PLS) method is used to analyze the survey data. Findings of the present study revealed that experiential marketing has been a significant predictor of customer satisfaction and loyalty, and also experiential marketing has a significantly positive effect on customer satisfaction and loyalty.