What Is Customer Loyalty? Essay
Customer loyalty comes from both a tendency in behaviour and attitude to favour one brand or product over others in the marketplace. This might be due to satisfaction with the performance or convenience of the product or service or simply due to familiarity or comfort with the brand name over time. Customer loyalty gives a brand competitive edge in the market and induces customers to shop more consistently and spend greater amounts while having a positive shopping experience.
Types of loyalties :
Monogamous vs Polygamous loyalty: As the names suggest monogamous is loyal to only one particular brand while polygamous is loyal to more than one brands. Mostly these days people have polygamous loyalties. For example a person might shop at coles, safeway or aldi indifferently but not at any other place. So the person is loyal to all three of them but not 100 percent loyal to any of them.
THE CONCEPT OF CUSTOMER LOYALTY
An early reference to customer loyalty can be seen in Deming’s work in his 14 point Total Quality Management (TQM) model which is a philosophy which focuses on quality and continuous overall improvement.
RELATIONSHIP MARKETING :
Relationship marketing concentrates on interacting with clients on a long term basis, as opposed to just attempting to make a quick deal. On the contrary if you focus on understanding your customers tastes and preferences and the issues faced by them, you can in the long run come to the point where you make…