Download or read book Building Customer Loyalty through Value Added Services written by Mandeep Singh and published by GRIN Verlag. This book was released on 2012-02-08 with total page 282 pages. Available in PDF, EPUB and Kindle. Book excerpt: Doctoral Thesis / Dissertation from the year 2011 in the subject Business economics - Offline Marketing and Online Marketing, , course: Management/Business Studies, language: English, abstract: The Indian cellular services market is growing at a rapid pace and the competition has also increased many folds. It has become imperative for the service providers to adopt such technologies and strategies which ensure their success in such a dynamic situation. As a result, the service providers are trying to develop an understanding about the customers in terms of enriching their experience by providing quality services resulting into a higher satisfaction and ultimately loyalty. With constantly decreasing Average Revenue Per User (ARPU) per month in a low tariff regime, the cellular operators in India are looking towards value added offerings for their customers in order to increase their ARPUs and survive in the coming tough times as they are unable to rely solely on the conventional voice services. The fact that the majority of cell-phone users are prepaid customers indicates towards a tendency for higher customer churn rate and thin profit margins to the mobile service providers despite a phenomenal increase in subscriber base. However, the situation has further been complicated with the instigation of mobile number portability, as it is going to enhance the customer churn rate due to the intense competition being faced by the operators in this market on the one hand and on the other very demanding customers. In such a scenario, the challenge for Indian cellular operators is to understand the preferences of their customers better and then to successfully offer the services that foster greater customer retention, as the entry of new global players in telecom market has further resulted in mounting customer acquisition and retention costs. Thus, all these facts highlight the relevance of value added services in an ever growing telecom market as a key strategic tool, not only for differentiation of services but also as a factor responsible for developing satisfaction and loyalty among the customers. Therefore, the present research study attempts to study the effects of Value Added Services (VAS) on Service Quality vis-à-vis Customer Satisfaction and Customer Loyalty in wireless telecommunication market. The findings of the present study convey that the service providers must concentrate their efforts not only on improving the core services but also the quality of Value Added Service (VAS) offered, as they have a potential to act as a strategic tool in order to enhance the customers’ satisfaction which will ultimately result in higher customer loyalty.
Download or read book Creating Customer Loyalty written by Chris Daffy and published by Kogan Page Publishers. This book was released on 2019-04-03 with total page 265 pages. Available in PDF, EPUB and Kindle. Book excerpt: Consumer-facing and business-to-business organizations know that if they get their approach to customers right, they will be rewarded with unprecedented customer loyalty. This will lead to increased market share, improved sales, an enhanced reputation and higher profitability. Despite this, many of today's companies fail to recognize that the notable improvements in their service delivery are not keeping up with increased customer expectations. Creating Customer Loyalty outlines simple, easy to understand strategies for creating a sustainable customer loyalty management programme that will win loyal customers. Demonstrating how to focus solely on the things that enable and enhance success, this book shows how to make loyalty a habit and structure a business that attracts and retains the best customers. Using examples from both UK and international companies such as Lexus, Aldi, Dyson, The Ritz-Carlton and Virgin Atlantic, Creating Customer Loyalty explains why customer experience management alone does not build lasting loyalty, and why customer expectation and customer memory management are essential. It outlines how to make every occasion epic by removing those 'ouch' moments, replacing them with 'wow' experiences, and developing dazzling recovery techniques to create unforgettable stories and positive memories.
Download or read book Building Customer Loyalty written by Ian Linton and published by Trans-Atlantic Publications. This book was released on 1993 with total page 228 pages. Available in PDF, EPUB and Kindle. Book excerpt: The author of this guide gives a practical explanation of why customer loyalty is so important. He demonstrates how to build staff commitment to customer care, how to operate a customer loyalty programme and how to train staff with skills to build customer satisfaction.
Download or read book International E Business Building Online Customer Loyalty with Relationship Management written by Wolfgang Katsch and published by GRIN Verlag. This book was released on 2008-02 with total page 130 pages. Available in PDF, EPUB and Kindle. Book excerpt: Diploma Thesis from the year 2001 in the subject Business economics - Customer Relationship Management, CRM, grade: very good, University of Innsbruck (Institute for Corporate Leadership), language: English, abstract: ... 1.1 Problem Statement For many years, successful neighborhood merchants, restaurants and pubs had real customer relationships. They knew their customers personally, understood what they wanted, and, as best they could, satisfied their needs through personalized service. As a result, they earned loyalty and a large share of their customers′ business. Some of the best examples of building customer loyalty can be found in those traditional small businesses. Now the question arises how customer relationships can be built in the world of E-Business. E-Business - the buying and selling of products and services over the Web - and its impact is comparable with the industrial revolution at the end of the last century. After hysteric times of E-Business startups and well known bursting bubbles the point of disillusion has come. Some internet companies recognize that traditional business concepts are not necessarily outdated. Acquiring customers on the international marketplace of E-Business is enormously expensive and unless those customers stick around and make lots of repeat purchases over the years, profit will remain uncertain. For lasting success companies have to intensify their efforts towards customer loyalty and customer relationship management. Without loyalty even the best-designed E-Business model will collapse. This leads to the following objective. 1.2 Objective The objectives of the thesis are -to combine the concept of customer loyalty with the characteristics of E-Business -show how companies can build loyalty with customer relationship management 1.3 Relevance of the Topic 1.3.1 Theoretical Relevance Concerning E-Business there exists plenty of literature mainly from a technical point of view. The drawback is that although loyal
Download or read book International E Business written by Wolfgang Katsch and published by diplom.de. This book was released on 2001-11-20 with total page 128 pages. Available in PDF, EPUB and Kindle. Book excerpt: Inhaltsangabe:Abstract: The thesis offers solutions concerning the following questions: - Why is customer loyalty important for long term success of a company? - What are value adding characteristics of E-Business? - How is customer relationship management defined? - How does relationship management help a company in the changing marketplace of E-Business? - How can a company build customer loyalty? - How to follow a step-by-step process in order to build lasting relatinships with customers? - What do best-practice companies manage relationships (including over 10 short case studies and practical experiences) - How to use online communities for customer loyalty? - What does datamining mean in the context of CRM? - How to integrate customers for customization and product innovations? - Why does a database give you the necessary information for knowing your customers? - What is the link between customer satisfaction, differentiation, and long term economic success - What are tools to implement the new approach of customer relationship management? - How to install an complaint management system in E-Business in order to build loyalty? The main objectives of the thesis are show how companies can build loyalty with customer relationship management to combine the concept of customer loyalty with the characteristics of E-BusinessCompanies in E-Business already realize that focusing only on customer acquisition is not enough for lasting success and are therefore intensifying efforts towards customer loyalty. According to recent studies only a small part of the companies know how many visitors they have on their Websites. And only some of them know the number of frequent/loyal buyers. A lack of customer knowledge and relationships with customers can get dangerous, especially in a scenario, where the competitive offer is only one click near by. The benefits of customer loyalty are directly measurable, knowing that the costs of taking care after loyal customers are many times below those of customer acquisition. From a practical point of view the aim of the thesis is to show how companies can build loyal online-customers in order to develop long-term business relationships. Drawing from international management literature, focusing on recently published articles in order to take into consideration the developments in the changing marketplace of information technology. Successful online companies and their practical experience should [...]
Download or read book International E Business Building Online Customer Loyalty with Relationship Management written by Wolfgang Katsch and published by GRIN Verlag. This book was released on 2001-11-07 with total page 126 pages. Available in PDF, EPUB and Kindle. Book excerpt: Diploma Thesis from the year 2001 in the subject Business economics - Customer Relationship Management, CRM, grade: very good, University of Innsbruck (Institute for Corporate Leadership), language: English, abstract: ... 1.1 Problem Statement For many years, successful neighborhood merchants, restaurants and pubs had real customer relationships. They knew their customers personally, understood what they wanted, and, as best they could, satisfied their needs through personalized service. As a result, they earned loyalty and a large share of their customers′ business. Some of the best examples of building customer loyalty can be found in those traditional small businesses. Now the question arises how customer relationships can be built in the world of E-Business. E-Business - the buying and selling of products and services over the Web - and its impact is comparable with the industrial revolution at the end of the last century. After hysteric times of E-Business startups and well known bursting bubbles the point of disillusion has come. Some internet companies recognize that traditional business concepts are not necessarily outdated. Acquiring customers on the international marketplace of E-Business is enormously expensive and unless those customers stick around and make lots of repeat purchases over the years, profit will remain uncertain. For lasting success companies have to intensify their efforts towards customer loyalty and customer relationship management. Without loyalty even the best-designed E-Business model will collapse. This leads to the following objective. 1.2 Objective The objectives of the thesis are -to combine the concept of customer loyalty with the characteristics of E-Business -show how companies can build loyalty with customer relationship management 1.3 Relevance of the Topic 1.3.1 Theoretical Relevance Concerning E-Business there exists plenty of literature mainly from a technical point of view. The drawback is that although loyalty and relationships are seen as very important factors in the context of international business, the question has obtained scarce attention in literature about E-Business. Existing studies in this area mainly have descriptive character or try to offer quick-fix over-optimistic internet solutions, which become obsolete pretty fast. The contribution of this thesis is to fill that gap and offer a more conceptual/systematic as well as critical perspective. The thesis -Transfers the concept of relationship management into the environment of E-Business -Points out potential conflicts -Demonstrates benefits and show ways to increase online customer-loyalty 1.3.2 Practical Relevance ...
Download or read book Customer Loyalty Cost vs Benefits A Quantitative Approach written by and published by Richard Malekian. This book was released on with total page 143 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book The Value Added Organization written by Thomas P. Reilly and published by . This book was released on 2000 with total page 142 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Building Brands Directly written by Stewart Pearson and published by Springer. This book was released on 2016-07-27 with total page 445 pages. Available in PDF, EPUB and Kindle. Book excerpt: New competition, technology and economics have changed the behaviour of markets and the practice of marketing. Customers are more discerning, and demand more quality, service and choice. Established brands are under threat. New brands are tougher than ever to build. How to create business value by sustaining existing brands and building new brands is the priority of our major business leaders, the managers to whom they entrust their brands and the students who are the brand stewards of the future. In this book Stewart Pearson explains how to build your brands directly: by investing in the loyalty of your customers and explains the commercial realities behind today's marketing headlines.
Download or read book Building Customer Loyalty written by JoAnna Brandi and published by The Walk The Talk Company. This book was released on 2001-06 with total page 64 pages. Available in PDF, EPUB and Kindle. Book excerpt: Ever ask the question: "How many customers do we lose every year?" Chances are you haven't. Most businesses are so busy trying to get new customers in the front door that they pay far too little attention to the ones that are walking out the back! Whether you're challenged by today's "soft" economy or you've been able to hold your own, one thing's for sure: Customer Loyalty remains the key to your business success. Your customers ARE your bottom line. And if their business goes elsewhere, so will your profits! This handbook will help you prevent that! The proven concepts found in these pages will heighten everyone's awareness of the importance of Customer Loyalty ... and equip them with techniques and strategies for building it.
Download or read book Retaining Loyal Customers in E commerce Winning Customers is Good But Keeping Them is Better written by Tim Stricker and published by GRIN Verlag. This book was released on 2008-02 with total page 85 pages. Available in PDF, EPUB and Kindle. Book excerpt: Research Paper (undergraduate) from the year 2007 in the subject Business economics - Marketing, Corporate Communication, CRM, Market Research, Social Media, grade: 1,5, Fontys University of Applied Sciences Venlo (Fontys University of Applied Science Venlo, the Netherlands), course: International Business and Management Studies, 40 entries in the bibliography, language: English, abstract: "I know who you are, I remember you. I get you to talk to me. And then, because I know something about you, my competitors don't know, I can do something for you my competitors can't do - not for any price." (Newell, 2000) In today's business there is a shift of many companies away from a transactional mindset toward a relational mindset when it comes to dealing with customers. That is because researches proofed that nowadays for many companies profitability depends on the companies ability to develop and maintain long-term relationships with their clients (e.g. Lemon et al., 2002, pp.1-14). In order to gain a competitive edge, companies need to be customer-driven and able to serve their customers needs. Moreover, companies have to deliver a certain added value to exceed customer expectations and build strong relationships. In the traditional market, where face-to-face contact is possible, marketers get to know their clients personally. By personal contact, marketers have the possibility to build a personal relationship with their clients, figure out their needs and finally satisfy their needs by personalized services. As a result, customers are likely to stay with a company and the potential that they become loyal increases. However, the emergence of the internet and e-commerce makes it is very difficult for companies to build long-term relationships with customers. By means of the internet the personal contact to customers is abolished and a reduction of transaction costs is enabled, which in turn creates a new set of customer expectations. Therefore, the potential that custo
Download or read book Brand Intimacy written by Mario Natarelli and published by Hatherleigh Press. This book was released on 2017-10-23 with total page 357 pages. Available in PDF, EPUB and Kindle. Book excerpt: From Patagonia to Apple, Whole Foods to New Balance, we love our favorite products--and, by extension, the companies that provide them. The emotional connections we form with our beloved brands and services are important relationships--relationships that are potentially worth billions. In the fast-paced, constantly-changing world of the modern marketplace, brands must adapt or perish—strategies, methods, and techniques must evolve to remain effective and relevant. Are you using yesterday’s thinking for tomorrow’s challenges? Brand Intimacy details ways to build better marketing through the cultivation of emotional connections between brand and consumer. The book provides lessons for marketers and business leaders alike who are seeking to understand these ultimate brand relationships and the opportunities they represent. Divided into three sections, Brand Intimacy starts with Context and Understanding. This explains today’s marketing landscape, the effects of technology, consumer behaviors and the advancements around decision making. Through research we discovered that people form relationships with brands the same way they develop relationships with other people. This section provides guidance on how to think about complimentary concepts such as loyalty, satisfaction and brand value. We then explore and compare established approaches and methodologies and showcase why intimacy is a compelling new and enhanced opportunity to build your brand or market your business. The second section, Theory and Model reveals and dimensions the brand intimacy model and dissects it into steps to help you better factor it into your marketing approaches or frameworks. Here you will learn the core concepts and components that are essential to build bonds and the role emotion can play to help you achieve greater customer engagement. You can also review the rankings of the best brands in terms of Brand Intimacy. A summary of our annual research reveals the characteristics of best performers, the most intimate industries, and differences based on geography, age, gender and income. By examining the top intimate brands, we reveal and decode the secrets of the bonds they form with their customers. The third section is Methods & Practice, this details the economic benefits and advantages of a strategy that factors Brand Intimacy. Intimate brands are proven to outperform the Fortune 500 and Standards and Poors’ index of brands. Intimate brands create more revenue and profit and last longer. Consumers are also willing to pay more for a brand they are more intimate with. Conversely, we also explore a series of brand failures and lessons learned to help you avoid common pitfalls in brand management. We articulate the steps to build a more intimate brand as well as share a glimpse on the future where software will play a more important role in brand building. The book outlines a proprietary digital platform that we use to help manage and enable intimacy through collaboration, simulators and real-time tracking of emotions. Business and marketing owners face an increasing difficult task to build brands that rise above the clutter, engage more and grow. Brand Intimacy explains how to better measure, build and manage enduring brands. Brands that are built to inspire as well as profit. Written by experienced marketers and backed by extensive research, Brand Intimacy rewrites the rulebook on how to establish and expand your marketing. The book is equal parts theory, research and practice, the result of 7 year journey and a new marketing paradigm for the modern marketer.
Download or read book Enterprise Resource Planning Concepts Methodologies Tools and Applications written by Management Association, Information Resources and published by IGI Global. This book was released on 2013-06-30 with total page 1629 pages. Available in PDF, EPUB and Kindle. Book excerpt: The design, development, and use of suitable enterprise resource planning systems continue play a significant role in ever-evolving business needs and environments. Enterprise Resource Planning: Concepts, Methodologies, Tools, and Applications presents research on the progress of ERP systems and their impact on changing business needs and evolving technology. This collection of research highlights a simple framework for identifying the critical factors of ERP implementation and statistical analysis to adopt its various concepts. Useful for industry leaders, practitioners, and researchers in the field.
Download or read book Focusing on Your Customer written by Harvard Business Review and published by Harvard Business Press. This book was released on 2010-11-04 with total page 118 pages. Available in PDF, EPUB and Kindle. Book excerpt: Closing individual sales, in most businesses, is not enough for success. Success depends on developing profitable lifetime relationships with customers. But gaining customer loyalty requires hard work, care, and attentiveness. In this book, you'll learn to assess the lifetime value of a customer, and why it makes sense to build loyalty among your target customers. You'll also learn to: - Understand the service-profit chain - Leverage the interrelationships among customer satisfaction, customer loyalty, employee capability, and company profitability - Build and refine a process for delivering extraordinary value to your customers
Download or read book Surprise written by Vincent P. Magnini and published by Business Expert Press. This book was released on 2014-10-05 with total page 131 pages. Available in PDF, EPUB and Kindle. Book excerpt: Modern consumers are being bombarded with in-formation from every angle. They can’t handle it and, consequently, tune out large portions of the information. Consumers, therefore, often enter service transactions with predetermined men-tal scripts regarding how they predict the trans-actions will transpire and are not paying close attention. In order to gain their full attention, firms must find ways to surprise consumers dur-ing transactions; that is, firms must spawn mental script deviations for them. Research indicates that these script deviations can cement consumer loyalty. This book details how to create a surprise culture in a service firm. Because a consumer can only be “surprised” by a given tactic one time and surprise ideas can be copied by competitors, a firm with a culture that generates and implements a constant stream of surprise tactics is one that has the higher edge in achieving success in the modern envi-ronment of information overload.
Download or read book 50 Powerful Ideas You Can Use to Keep Your Customers Third Edition written by Paul R. Timm and published by Red Wheel/Weiser. This book was released on 2002-05-15 with total page 160 pages. Available in PDF, EPUB and Kindle. Book excerpt: 50 Simple Yet Effective Ways to Keep Customers Happy and Coming Back for More Ultimately, every successful enterprise must attract, serve, and win the loyalty of customers by providing worthwhile products and delivering excellent service. Getting and maintaining loyal customers affect an organization’s bottom line more than any ad campaign, marketing program, or PR effort. This book is designed to get all managers and employees thinking about the little things that can make all the difference. It’s a quick read—you can finish it in less time than it takes to deal with one customer complaint. And if you put the information within this book into action, you will be able to decrease customer complaints considerably. It’s packed with practical, applicable suggestions that can be put to work immediately, such as how to: Turn angry customers into lifelong clients Use a simple gesture to immediately put customers at ease Listen with more than your ears Easily give customers more than they expect Use negative feedback for positive action Managers and staff members alike can use this little manual to avoid the devastating ripple effects that turned-off customers can produce. It will easily show how everyone in a business, large or small, can creatively apply a constant flow of small, customer-centered innovations to create a consistent and persistent strengthening of your customer base.
Download or read book Customer Loyalty Programs written by Jing Theng So and published by . This book was released on 2013 with total page 446 pages. Available in PDF, EPUB and Kindle. Book excerpt: In times of severe competition, loyalty programs (LPs) are introduced by firms to provide customers with added value to gain higher levels of loyalty and retention. While LPs are claimed to engender customer loyalty, researchers have not reached a decision about whether these programs are worthwhile for businesses in the long-run. Despite being a popular research area in the marketing literature, previous studies have found inconsistent results regarding the effectiveness of these programs in eliciting customer loyalty. A plausible explanation for the contradictory findings is possibly the poor understanding marketers have about the underlying mechanisms that drive the operation of a successful LP. In particular, empirical research examining (1) whether LPs are perceived as valuable to customers, and (2) how LPs contribute in developing customer loyalty, is limited. To address these issues, the present study develops a theoretical framework that investigates the different LP value constructs that customers derive from being a program member, and how different types of value drive customer loyalty. Building on the theory of reciprocity, this study suggests that the value of a LP, as perceived by customers, would encourage them to have a positive attitude towards the firm or the program. The favourable attitude towards either the program or firm then induces customers to engage in different behavioural outcomes that motivate them to stay in a long-term relationship with the firm. Specifically, this study found that customers derive six value constructs from participating in a LP, namely, reward attractiveness, knowledge benefit, required effort, experiential benefit, group belongingness, and disclosure comfort. These LP value constructs are posited to impact two components of customer loyalty - attitudinal and behavioural loyalty. In accordance with the conceptualization proposed by past scholars, this study denotes customer attitudinal loyalty as program loyalty and brand loyalty, whereas behavioural loyalty is measured through customers' Share-of-Wallet (SOW), Share-of-Purchase (SOP), Word-of-Mouth (WOM), and Willingness-to-Pay (WTP) more for a firm's offering. In addition, the proposed framework incorporates two moderating variables (i.e., member duration in LP and customization) to provide an in-depth view on how customer loyalty can be more effectively achieved using a LP.For the purpose of this dissertation, the proposed research framework was tested in the Australian retail setting using two different research methods. An exploratory study was initially carried out to identify the number of constructs that constitute LP value from a customer's perspective and to provide preliminary support for the proposed framework. Following which, a cross-sectional survey was carried out to validate the developed hypotheses. A web-based survey system was used to collect data from LP members residing in Australia. Structural Equation Modeling (SEM) was utilized in this study to examine the influence of LP value on customer loyalty. The findings of this large-scale empirical study offer a number of theoretical and managerial contributions. First, this study represents one of the first empirical studies in the LP literature to develop and investigate a comprehensive list of value constructs that influence customer loyalty. Second, the study extends existing LP literature by clarifying the relationship between LP value, customers' attitudinal loyalty, and behavioural loyalty. Third, the findings of this research can assist managers in their allocation of resources to better design and implement their LPs so that customer loyalty can be built in the most cost-efficient manner. Collectively, the present study provides an improved understanding of the underlying process of developing customer loyalty using a LP, both for academics and businesses.
