Understanding Advocacy, Loyalty and Committment. Loyalty - A 'Cash Cow' by definition?

Understanding Advocacy, Loyalty and Committment. Loyalty - A 'Cash Cow' by definition?

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Facing an increasing competition for customers, Relationship Marketing has been acknowledged by many researchers and practitioners as a€œthe new othodoxya€ (Petrof, 1997). The belief behind it has been that increased customer retention will lead to increased customer profitability (Reichheld and Sasser, 1990). Strategies to reach this goal have been implemented widely and contain customer care, customer loyalty programs and in this context database and direct marketing techniques (Oa€™Malley and Prothero, 2004). Accordingly the objective of relationship marketing is to identify, establish, enhance and maintain relationships with customers and other stakeholders at a profit (Liljander and Roos, 2002, GrApnroos, 2000, Morgan and Hunt, 1994). As opposed to other methods of binding customers (e.g. contracts), relationship marketing is geared to human relationships (Liljander and Roos, 2002) and held together by normative methods and therefore trust, commitment, mutual benefit and loyalty.YOUR KNOWLEDGE HAS VALUE - We will publish your bachelora#39;s and mastera#39;s thesis, essays and papers - Your own eBook and book - sold worldwide in all relevant shops - Earn money with each sale Upload your text at www.GRIN.comanbsp;...


Title:Understanding Advocacy, Loyalty and Committment. Loyalty - A 'Cash Cow' by definition?
Author: Judith Hoffmann
Publisher:GRIN Verlag - 2006-02-14
ISBN-13:

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