Customer Loyalty – Meaning and its Important Concepts
April 3, 2025
Every supplier wants to create and retain a loyal customer who engages in continued profitable business with him. Customer Loyalty is the measure of success of the supplier in retaining a long term relationship with the customer. Thus customer loyalty is when a supplier receives the ultimate reward of his efforts in interacting with its…
Customer modeling is the process of predicting and forecasting behavioral aspects of customers’ future perspectives. The process includes identification of marketing and campaigning targets and optimizing predictive analysis. Following are the broadly discussed aspects of customer modeling: Response modeling – Modeling enhances the organization’s knowledge on each individual customer and identify if the customers under…
For a developing business it is very important to understand who are the best customers, how to find more customers like these and where to find. Customer profiling is the best strategy to accomplish this. It helps to find valuable new customers, enhance the profitability by retaining existing customers and also identify low valued customers…
When the suppliers are unable to entertain customers or their business strategies fail to build a good relationship with customers, they probably end up with customers’ dissatisfaction. Their can be many reasons for the customers to become dissatisfied. Some of these reasons are:
But in countries like United Stated where the environment is very different and dust free, there is no need for installing this equipment in house as it would be kept uselessly in house.
In India the environment is lot dusty but the cost exempted for managing the household work is very cheap and affordable, so why people will go and buy a vacuum cleaner and invest a lot of money in that, if they can hire a manual cleaner boy without investing much. If they buy a vacuum cleaner and later on feel that it is turning out to be expensive and tedious deal then it brings dissatisfaction among them.
For example, a customer bought a Fax machine from a supplier and suddenly something went wrong and the machine stopped sending fax at the time when there was an urgent fax to be sent. Customer called the supplier and asked for urgent support but none of the executive at the supplier’s side was available for fixing this issue. Customer finally took some local vendor’s help to fix as it was very urgent. Such a situation can develop an irritating gesture for customers against the supplier and to his dissatisfaction.
Apart from the above examples many more similar reasons could lead to customer’s dissatisfaction. It is very important for the supplier to concentrate on customer’s needs and provide him the required products and services. If desired measures are not taken, customer’s dissatisfaction could possibly build poor relationships between the two parties which could break anytime.
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