The Value Of Customer Loyalty - 2911 Words

The Value of Customer Loyalty Introduction The necessity of human is rapidly increasing, from fast food that can be served in less than 10 minutes to services like pet grooming and hotel that are now in demand with the animal lovers. These necessities of humans are allowing more and more business to be opened and would mean economy growth. Since there is a demand of these necessity, there is also demand on business and would mean competition. Marketing the product or services would be difficult to pull-off because of competition and the product and services somehow is identical to each other. The question would be how a business will retain their customer, or how would a costumer make repeat purchases and come back. The cultivation of†¦show more content†¦How can a buyer turn to be a loyal costumer? All of this will be tackled or perhaps will be discussed in the following pages of this paper. Making an Impact Rai Medha (2013), depict the current situation of businesses, the competition and the consumer demands, lessen the defection and building bond of long lasting loyalty with the consumers seem to be the only means of sustained profitability and growth. This era where everyone can now have their own business and unique marketing strategy, the head to head battle of winning the costumer’s heart is by far the most important things that a business could do. The company must make a visible impact not only on the quality of the product that they are selling but also on their customer relation. This movement is identified as service-profit chain where the company not only looks after their product but simultaneously making an impact with their customer relation and ensuring the quality and benefits for their employees. Heskett et al., (1994) talk about in other to establish relationship there must be a service-profit chain, which establishes relationship between the consumer and its employee satisfaction. In the paper Heskett shows how this could be down, Profit and Growth is the result of loyalty, Consumer loyalty develops from satisfaction, Satisfaction is develop by good values of the company shown by the employee who are satisfied in their work. This Service-profit chain is