Customer Loyalty And Employee Loyalty

Thus, companies seek to strengthen customer loyalty. Brand loyalty is considered to tilt the consumer to purchase the package / product specific brand (Jacoby and Chestnut, 1978). Later, Oliver (1997) defined loyalty as "a deeply held commitment to REBUY or repatronize preferred product / service consistently in the future, thereby causing repetitive same-brand or same brand set purchasing, despite situational influences and marketing activities, which would result in causing switching behavior "(p. 34). This conceptual definition covers two different aspects of loyalty: the behavioral. This is consistent with an integrated conceptual framework proposed by Dick and Basu (1994), that customer loyalty is regarded as a "power relationship between the relative position of the individual and repeat

Over the decades there were tremendous amount of challenges for every business. Customers have more knowledge, they have more options, and they have higher expectations. Customers are more informed with the humungous development in technology. Having more options in front of them, expectations has surpassed in retail industry. Loyalty is a customer having faith that your organization’s product or services offered is the best for them. It is the process of tapping the buying pattern of customers in a store based on their preferences. Customer loyalty is significant because it is economical to retain the old customers rather than acquiring new customers. So, organizations employ loyalty programs which reward customers for their repeat business.

From an organisations point of view, especially in the short term, it would seem more appropriate to concentrate on behavioural loyalty because this is reflected in sales behaviour. Such behaviour is easily measured compared to components of attitudinal loyalty and matches key managerial performance indicators. Attitudinal measures may also not reflect consumer’s actions when the consumer is confronted with real choice. However, from a longer term view and especially from a CRM viewpoint, it is also vitally important to measure attitudinal loyalty. Attitudinal loyalty is composed of commitment and trust in the brand and/or organisation which will have impacts on sales both in the short and longer term. This type of loyalty is more likely to be an indicator of the potential longer term relationships that will be possible with given customers. Attitudinal loyalty is also likely to have influence on word of mouth and customer advocacy which may lead to indirect impacts on longer term sales or on costs of servicing

This literature review explores the relationship between customer satisfaction and customer loyalty and how do these theories affect businesses in hospitality industry. Hence, there are many researchers that have studied about these two concepts that will help people to better understand about the two theories.

7. Consumer loyalty needs to be increased: - The main recommendation is to increase the good relationship with the consumer at all. The reason is that if there is a good relationship between the organisation and the consumer then the benefit will be to the organisation as good relationship sometimes helps to reduce expense on the other factors like huge expense that is done on the advertising of the brand of the organisation. In Asian markets, areas such as relationship building and a ‘benefit-the-country’ attitude are sometimes more important than investing enormous amounts on advertising (LaForet and Chen, 2012).

Healthcare organizations want to leave a positive influence with their patients. Leaving a positive influence on the patients will make them want to return to your health care facility in the future and utilize your services. A healthcare organization needs to build loyalty within their patients. “Reflecting a broader trend in business metrics, healthcare organizations are increasingly building customer loyalty (in their case, patient loyalty measures) into their existing satisfaction surveys (Blizzard, 2002).” A customers’/patients’ loyalty is very essential when it comes down to describing a health care organization’s outcomes for their financial means. Actually, health care organizations that are not observant to loyalty could possibly endanger

Organizational loyalty is the strength of the individuals and with their organization. Employee loyalty is a psychological condition, psychological bond among organizational management and employees which reflects the relationship of the individual in the organization in which he or she working. Also, the loyalty as a strength of correlation of the individual who working organization, and that the individual who shows a high level of organizational loyalty in the organization in which it activates it has a robust confidence to take the goals and values of the organization, ready to provide every possible exertion to serve the organization, and has a strong aspiration to continue working in such organization.

Customers enable the organization to treat each customer in a different way on the basis of the contribution they make towards the firm (Kleinaltenkamp & Wengler, 2007). The analysis of customer lifetime value aids the organization to rank and order customers on the basis of their contribution to organization’s revenues. It also helps the organization to determine as to how much it can invest in retaining customers to gain positive returns on the investment.

Customer Loyalty: Understanding the pulse of the customer and providing exceptional customer service by offering the fair measures of product policies like discounts, return policies of retailing and thus enhancing the business policies.

Hannen (2001: cited in Reading Pack) said that keeping existing customers is cheaper than finding the new ones. However, the retailing industry is a ‘generic market’ and a lot of effort is needed to build meaningful relationships with the consumers.

() describes customer loyalty as ……. Customer loyalty is a combination of relative attitude and repeat patronage. Businesses work to retain customers who have both a high level of repeat patronage and attitude towards the company. Loyal customers translate to be more profitable over time through related purchases, increase referrals, operating cost savings etc. Although Taco Bell dominates the percentage of market share in the Mexican-food segment, parent company Yum! Brands desires to grow their percentage of market share in the overall fast-food industry. This forms the basis of the company’s

One of GC3’s biggest weaknesses is its high turnover; therefore, it is imperative GC3 restructure their staff within all levels of the organization to increase employee relations and increase employee loyalty. The following recommendations are for staffing and recruitment within GC3.

In my opinion our company is relatively strong in 2 of the 4 characteristics of “analytic competitor” as described in the text. Our goal as company is to be superior in customer service and customer loyalty. To that end we have tools developed that assist everyone in the company and we are committed, from the CEO down to line-level team member, to review the same statistics used for continuous improvement. Where we lack strength is having a distinctive capability and due to some system limitations in data warehousing, we still do quite a bit of individual reporting. Prior to working for this company I worked at the Well Established Casino (WEC) organization for 10 years. I learned quite a bit about standard reporting at WEC. Digging into how things worked and what interpretations were used to categorize casino player behavior was very rewarding. While WEC was superior in bucketing and appropriately setting expectations in future customer behavior, their reporting lacked some details preventing marketing operations from quickly responding to outlier influences and climate changes in the industry. I moved onto HTC where most of the reporting was financial in nature. Having opened newer casino properties our corporate structure did not immediately embrace the need for marketing analysis to potentially improve revenue streams that were already robust enough. I came on board with HTC in late 2010 as the Regional Director of Marketing Analysis when they opened casino number two.

The need of a superior Loyalty Program in comparison to competitors is highly important in today’s cutthroat competition of the Indian Retail

Brand Loyalty is a concept which has both attitudinal and behavioural components. Marketers are very concerned about brand loyalty. It is not simply about repurchasing. It consists of customer’s commitment towards the brand and consumption repeatedly whenever the need arises. In addition to that, customers might also act as advocates for the brand. Hence both the entities form a long lasting relationship. The success of any brand is dependent on its capability to attract customers. It is very critical for a brand to have a loyal set of customers who will stick with the brand always. Loyal customers are more likely to buy a brand than a customer who is not. This helps in generating a stable source of revenue. Sometimes brand loyalists engage in