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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.
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.
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.
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
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 [...]
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 ...
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
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.
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.