Loyalty marketing

[vikram chawla]

Loyalty is an abstract concept – there is no single complete definition of it. It comes in different types and different degrees, customers are loyal or otherwise for many different reasons: - some are loyal from choice, some are loyal because their needs are met or exceeded, and others because their needs are most exceeded, and others because the relationship is profitable to both sides.

A number of factors play a part in influencing the loyalty and the commitment of customers, such as quality and value of core offering, levels of customer satisfaction.

Loyalty marketing is an approach to marketing, based on strategic management, in which a company focuses on growing and retaining existing customers through incentives. Branding, product marketing and loyalty marketing all form part of the customer proposition – the subjective assessment by the customer of whether to purchase a brand or not based on the integrated combination of the value they receive from each of these marketing disciplines.

 

[jitendra05]

Loyalty is an abstract concept – there is no single complete definition of it. It comes in different types and different degrees, customers are loyal or otherwise for many different reasons: - some are loyal from choice, some are loyal because their needs are met or exceeded, and others because their needs are most exceeded, and others because the relationship is profitable to both sides.

A number of factors play a part in influencing the loyalty and the commitment of customers, such as quality and value of core offering, levels of customer satisfaction.

Loyalty marketing is an approach to marketing, based on strategic management, in which a company focuses on growing and retaining existing customers through incentives. Branding, product marketing and loyalty marketing all form part of the customer proposition – the subjective assessment by the customer of whether to purchase a brand or not based on the integrated combination of the value they receive from each of these marketing disciplines.

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