Essay On Loyalty

Essay on Customer Loyalty
Loyalty

1. Essay on Customer Loyalty
The Customer loyalty has been a major and unanimously acknowledged as a valuable asset in
competitive markets according to Srivastava, Shervani, & Fahey, 2000. As a result, it becomes
more important to give power to in loyalty panel particularly when the consumers faces very low
switching or moving cost to other product or service, because they are not locked in by a contract
(Shapiro & Vivian, 2000). It is also become important in competitive markets due to availability of
more lucrative and easily available options. The concept of customer loyalty has been around and
present throughout in all parts/activities of numerous industries in the past decade (Lewis, 1997).
The development of loyalty includes building and supporting a...show more content...
Various authors, such as Evans & Laskin (1994), calculated the impact of CRM on customer loyalty,
but have not made any distinction between different types of loyalty. They have simply specified
that their concept of loyalty go past the idea of industrial loyalty. As a result, the variable chosen to
measure the effectiveness of CRM in this study is customer loyalty.
Looking into the previous decade many firms refocused to adopt a customer focus view most often
through a formal program of customer relationship management (CRM) for example Brown 2000,
Kalakota and Robinson, 1999 earlier by Peppers and Rogers, 1997. Latest expansion in information
technology has enabled the tool for marketing managers to create a new generation of CRM tactics.
One such tactic that thousands of firms have measured and which many have adopted is to establish
a customer loyalty program. If we look around for example, we can see such programs/schemes run
by many companies for example in US airlines and hotels, Japanese retailing, UK grocery stores,
French banks, German car companies, US universities, Italian fashion stores, Australian
telecommunications, Indian telecommunication– retail banks and in many other areas. The main
objective of such schemes/programs is to tender financial and relationship reward to customers. It is
recognizable that the aims of customer loyalty programs, firstly it has been used as a tool to increase
sales revenues by raising purchase/usage levels
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2. Loyalty
Loyalty is like a shadow it's something that's with you all of the time, but sometimes it's hidden.
Most people don't show their loyalty hidden, but loyalty is something that's not supposed to be
hidden .To me loyalty is when someone is there for someone else. Loyalty is a characteristic
many people should strive to have; it earns the trust and respect of many. A loyal person would
never be able to fail someone because they are trustable. Loyalty is everywhere and there are many
different kinds of loyalty. Loyalty to strangers is one of the many different kinds of loyalty. We
have all showed loyalty to strangers at least once. When people follow rules somewhere either at
school, work etc. This shows loyalty. Loyalty doesn't only earn...show more content...
When many people think of loyalty they forget the fact that you can be loyal to yourself. I think
the most important parts to staying loyal to self are staying true to self and doing what you
believe is right. An example of this would be if you are getting peer pressured by your peers to
smoke, there are several choices you can make. You can smoke just to gain popularity by that
group of people and destroy your health or refuse and report to the counselor. A person who is
loyal to self will obviously pick the second option by doing this they will stay true to self, do the
right thing and stand up to peer pressure. Last but not the least is loyalty to family. To me loyalty
to family is the most important one because family is very special to me. Family is something
you start with and something that will never leave you. No matter what happens your family will
always be there for you. One of the many ways to show loyalty to family is by spending time with
them. Spending time with family makes everyone feel happy. I think the people that show the most
loyalty in a family are the parents. Parents sacrifice the most for their kids. Either giving up their
time or not getting what they want. They put someone else before themselves. Parents are the true
examples of loyalty. A loyal person treats other people the way they would want to be treated. A
symbol for loyalty I think would be a heart because a heart shows
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