The mobile network industry in Singapore is primarily composed of three major players – SingTel, Star Hub, and M1. With current industry standards, Singapore now boasts one of the most advanced and well-developed telecommunications infrastructures in the world. In 2018, the total market size of the Singapore telecommunication industry was estimated to be worth around S$9.51 billion.
Even though the mobile network providers are not directly hit by the current pandemic, however, in recent years, the mobile network industry in Singapore has been facing a major shake-ups and the future of the industry is predicted to get even tougher. With a penetration rate of mobile subscriptions hovering around 148% in 2020, experts have predicted the highly saturated mobile network industry to face very slow growth over the next three years to 2024. One major challenge is the rapid rise in competition as new providers such as TPG, Zero1, Circles. Life and My Republic have entered the market in recent years.
In order to thrive in this hyper-competitive industry, the management of a mobile network provider in Singapore strongly believes its company must shift its focus from being product-centric to customer-centric. The management reckons that the best way to increase its market share in the next few years is to increase customer retention; by ensuring that its customers who are currently on a two-year contract with the company will renew their contract once it expires. In order to better allocate the company’s resources to meet this goal, the management wants to conduct a marketing research study to determine if factors such as price, advertising, brand image, and service quality are important predictors of customer retention.
what are the limitations of the research study?
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