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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.
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.
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.
Doctoral Thesis / Dissertation from the year 2020 in the subject Communications - Public Relations, Advertising, Marketing, Social Media, , language: English, abstract: This study provides empirical evidence to clarion calls for insights on the lack of work on resorts specifically the five-star resorts sector which is referred to works by Line and Runyan in identifying the deficiency in empirical evidence towards literature on resorts. This study provides new evidence into the formation of loyalty determinants in the five-star resorts, specifically in the Malaysian tourism industry. Although various studies have been conducted by scholars to identify such a phenomenon, very few has identified salient marketing strategies to be of value to practitioners, in overcoming the lack of loyal customers. This study frames the current problems faced by academia, the industry and the government to produce a cogent discussion on how to solve these problems by providing a strong and tested strategy, the service guarantee, to enhance customer loyalty in the resort sector. Problems associated with the industry and marketing gaps in literature are mainly based on a lack of strategy and factors in determining loyalty from the customers’ perspective. Based on gaps in literature related to the hospitality industry as a whole a lack of a structural modelling and is identified. The second order latent modelling that this study envisions, would provide clearer directions to the industry and other stakeholders to develop and mitigate customer centric marketing strategies to acquire and retain their target markets.
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.
"GRASPED Beyond Business" presents a transformative guide for those seeking to intertwine personal growth with professional development. It offers 20 innovative strategies, such as Blue Sky Thinking, Value-Added Services, and Sustainable Business Practices, designed to enhance both personal well-being and business acumen. The book serves as a comprehensive manual for achieving excellence in a world where personal and professional boundaries are increasingly blurred. This book's USP lies in its holistic approach, seamlessly integrating personal development strategies with innovative business tactics. Unlike other guides that focus solely on either professional success or personal growth, "GRASPED Beyond Business" bridges the gap, providing a balanced roadmap for thriving in both realms. Embark on a journey of innovation and growth with "GRASPED Beyond Business." This guide is your companion through the labyrinth of personal and professional development, offering fresh perspectives on achieving success and fulfillment in today's interconnected world.
Transactional to Transformational Marketing in Pharma: The Science of Why and the Art of How is a ground breaking book that explores the current state of the pharmaceutical industry's marketing practices and how they can be improved. Despite being instrumental in saving countless lives and improving the health of people worldwide for over a century, the modern pharmaceutical industry has suffered from a tarnished reputation due to unethical business practices and transactional marketing. In this timely and informative book, the author delves into the reasons behind pharma's fall from grace and shows how transactional marketing practices cannot build brand loyalty or reputation. Instead, the book highlights the importance of transformational marketing practices and ethical business behavior, which can lead to long-term success and customer loyalty. Using real-world examples and case studies, Transactional to Transformational Marketing presents a step-by-step approach to help pharma companies transform their marketing practices. From understanding the importance of customer-centricity to leveraging digital technologies, this book provides practical tips and strategies that can be implemented immediately. Transactional to Transformational Marketing in Pharma is a must-read for anyone interested in elevating the pharmaceutical industry's reputation and creating sustainable growth in the long term. If you are a marketer, business leader, or anyone interested in transforming the pharmaceutical industry's marketing practices, this book is for you.Contents: 1. Pharma’s Reputation on a Slide 2. Ethics in the Pharmaceutical Industry 3. Unethical Marketing Practices in Pharma 4. Transactional Marketing 5. Restoring Pharma’s Reputation 6. Transformational Marketing in Pharma 7. Transformational Marketing in Pharma: Two Case Studies 8. Transformational Marketing the Winner’s Checklist Two Case Studies
This text introduces a programme to aid with customer retention and business growth. There are tactics for consistently exceeding customer expectations through A-Plus value, personality, information, convenience and more.
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.