Question

In: Economics

You are a customer. Are you loyal to any organization? If so, how many bad experiences...

You are a customer. Are you loyal to any organization? If so, how many bad experiences will it take to overcome your loyalty? Have you ever decided to withhold your business from a store, restaurant, or other service provider based on poor service? Do you usually give an organization more than one chance to win your business, or is one bad experience all it takes to turn you off?

Solutions

Expert Solution

Customers are those who use company's products as a requirement material and create indirect demand for their goods and services,

  • Customer's satisfaction & Loyalty to the business and any organization can be determined by the continual contact and quality improvement or consistency by the organization,
  • Scenario (1)- As a RELIABLE CUSTOMER stick to the one organization after having a number of bad experiences due to the loyalty win by the organization in the previous sells,
  • Scenario (2)- Shift in Customer Focus due to several reasons that are;

a) change in product quality,

b) change in price perception ,

c) change in the relationship with customer support ,

d) change in the basic services of the organiization.

Hence there can be shift from the organization as a customer due to above-given scenario (2), or the organization have a followup strategy to gain the loyalty of the customers by taking several steps such as; doing research on the loyalty loss of the customers, after gathering information taking action accordingly to win the customer's focus and loyalty again and the capturing of the market.

  


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