Hello everybody,
I recently found an article about customer loyalty. The article is based on a survey by the ‘Corporate Executive Board's Sales and Marketing Practice’. Based on these results several conclusion were made.
Some of the conclusions were remarkable. According to the survey, quality, brand recognition and service excellence aren’t decisive factors in retaining your customers. The sales experience seems to be much more important. Furthermore, customers always seems to appreciate what they can learn from their suppliers, like how to save money.
In addition to these conclusions there is also a stern warning to the management. It seems that if the management doesn’t listen to their customers, they won’t be able to make their new solutions look like meaningful ones to their clients. On top of that there is a serious problem if the senior management doesn’t build up the customer advocates groups within their organization because they won’t be able to have very loyal customers.
It is a very interesting article, certainly the conclusion that brand recognition isn’t that important surprised me.
Frederick Dobbelaere
The conclusion surprises me as well! Certainly because this doesn’t stroke with my own experience. I do not care that much about how they treat me in the store, my attention goes to brand quality compared to the price.
BeantwoordenVerwijderenBob Dossche
A couple of days ago in class someone mentioned an interesting research done by Prof. dr. Dirk Van den Poel of the Ugent department of Marketing. The research discusses how Belgian companies could try to increase customer loyalty during the recent crisis. For now, however, I haven't found an article of this research. Maybe one of you could give me a suggestion where i could look for it.
BeantwoordenVerwijderenFrederick Dobbelaere
I think they referred to this study of Prof. Van den Poel: http://econpapers.repec.org/paper/rugrugwps/10_2f658.htm
BeantwoordenVerwijderenHe wants to broaden the amount of variables in the information technology tools used to support marketing decisions. He want to incorporate weather variables, such as sunshine and raining. This study shows that the augmentation of the number of data used in such tools can improve the quality of purchasing predictions. The paper consists of 22 pages of statistic formulas an text to proof his statements. I did not read the whole paper but is sure does look interesting.
Bob Dossche
Excellent interaction on this blog.
BeantwoordenVerwijderenFine use of academic article.
Keep up the good work!
Geert Jacobs
I will take a look at the paper and maybe i will write a blog about it.
BeantwoordenVerwijderenThank you Bob.
Frederick