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customer loyalty

THE FUNDAMENTAL ELEMENTS OF CUSTOMER LOYALTY

❶Identification of organization-specific model elements generally begins with an Investigative Phase. Given the highly discommoded competitive landscape today, customer experience programs are the most effective way to differentiate your organization from the competition.

What is Customer Loyalty?

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WHY CUSTOMER LOYALTY IS IMPORTANT

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Great attention is given to marketing and customer service to retain current customers by increasing their customer loyalty. Organizations employ loyalty programs which reward customers for repeat business.

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Customer loyalty can be defined in several different ways. Primarily, customer loyalty is when a person transacts with a brand (or purchases a specific product) on an ongoing basis. However, loyalty can take many different shapes and forms.

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In a nutshell, loyalty means a customer wants to do business with you and does. The challenge for organizations is taking this definition and translating it into actual practice, where specific actions are defined and ideal customer relationships are envisioned. Customer loyalty is critical for business profitability. Definition Customer loyalty is both an attitudinal and behavioral tendency to favor one brand over all others, whether due to satisfaction with the product or service, its convenience or performance, or simply familiarity and comfort with the brand.

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There are many definitions of customer loyalty. Yet each of them fails to realize that loyalty runs hand-in-hand with emotions. Customer loyalty is the result of consistently positive emotional experience, physical attribute-based satisfaction and perceived value of an experience, which includes the product or services. Customer loyalty is the key objective of customer relationship management and describes the loyalty which is established between a customer and companies, persons, products or brands. The individual market segments should be targeted in terms of developing customer loyalty.