Nokia: Price only one way to keep customer

Companies need to do more than just offer low prices in order to retain customers, a Nokia study found Friday.

According to a survey conducted by the Finnish telecommunications giant, there are five factors that will determine whether or not a subscriber will stay with the same wireless provider or not: calling plans, operator brand image, handset quality, network effectiveness and price.

Customer turnover "is a costly fact of life for many operators today, so anything that sheds light on how we can keep subscribers loyal is very welcome indeed," Bosco Novak, senior vice president for services at Nokia, said in a news release. "This research highlights an area where we are closely cooperating with our clients to improve the customer experience through our own extensive portfolio of services," he added.

The survey polled 3,900 users in Britain, the United Stated, Germany, Thailand and Brazil.

Copyright 2006 by United Press International