Mcdonald's Singapore Case Study
According to the annual report, in 2011 was another strong year for McDonald’s, in which the company managed to have 5.6% sales increment for the ninth consecutive years. 11.6.2 McDonald’s Current Customer Satisfaction
First of all, the market and its components are ever changing. The most influencing factors of market changes are globalization elements, changes in the global economy, changes in the social structure and technology advances. Customers now have more options to choose from than ever before. While this is more of an advantage for customers, it is vice versa for businesses. Retaining customers requires less marketing resources than recruiting new ones, and thus are more preferable as it is more economically desirable.
Successful relationship marketing requires relationship commitment and trust. Customer commitment can be defined as a consumer's conviction to maintain, rather to eliminate, an economic relationship that might produce functional and emotional benefits. Commitment is now regarded as a key variable in marketing relationships (Fullerton