building crm
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BUILDING CRM
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OBJECTIVES OF THE MODULE At the end of this module, you will be able to explain Input for
acquisition, Prerequisites for effective acquisition, attention on
adoption process, Customer Interaction Management (CIM),
Routes to CIM, Online Interaction Tools, Offline Interaction
Tools, Stages in Customer Lifecycle, Status of Customers in
the Relationship Chain, Factors influencing CIM, EffectiveCustomer Relationship Building, Organisation, Inherent benefits
of Retaining Customers, Customer, Approach to Retention
Process, Stages of Retention In Customer Lifecycle, Sequences
in Retention Process, Perceptual Gaps in Retention, Gaps inCustomer Retention, Meeting Customer needs and its Impact
on Retention, Needs Determination Process for Customers,
Role of Satisfaction in the Retention Process, Customer
Satisfaction Expectations from Business,
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OBJECTIVES OF THE MODULE CONTDCustomer Dissatisfaction, Retention centered Organisations,
Relationship through Loyalty, Loyalty Continuum, Process of
Brand Choice, Internal and External Factors, Customer
Loyalty and its types, Brand Switching Behaviour, Towards
Reaching Loyal Customers, Market Identification, Market
Expansion, Segmented and Target Market, ProspectiveCustomers, Customers, Market Identification, Market
Expansion, Segmented and Target Market, Prospective
Customers, Customers, Loyal Customer Ladder, Loyal
Customer, Lost Customer, Why do Customers need LoyalCustomers?, Recovery of Lost Customer, Why do Customers
defect?, Strategies to Prevent defection and recover lapsed
customers, Developing Barriers to Exit.
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INPUT FOR AQUISITION The suspects.
The enquiries.
The lapsed customers.
The former customers.
The competitor¶s customers.
The competitor¶s lapsed customers.
The competitor¶s enquiries.
The competitor¶s former customer.
The referrals.
The existing buyers.
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REQUISITES FOR EFFECTIVE ACQUISTION
Focussed Approach.
Providing a Win-Win Platform.
Initiate Forum for Communication Attempt to Minimise µFUD¶.
Projection of Benefits and not Products.
Contextual Application. Focus on Decision Process.
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ATTENTION ON ADOPTION PROCESS
Focus on Options of Prospective
Customers.
Building up Publicity and Public Relations.
Concentration on existing Customers.
Process of Acquisition.
Influences of Acquisition.
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CUSTOMER INTERACTION
MANAGEMENT(CIM) Customer Interaction Management constitutes
the customer relationship technologies with
additions of technology based interactive
solutions.
The interactive channels that are currently
available enable very effective customer
interactive communications which leads tocustomer interaction management which
further leads to relationship building.
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CUSTOMER INTERACTION
MANAGEMENT CONTD
In view of the technology growth, the
interaction management is facilitated by
communication in terms of media, message,
speed, accuracy, distance, content, reach,repetition etc.
The customer interaction management stands
for intensive interaction between customers
and the organisation, which is supported bytechnology enabled mechanisms such as
internet.
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ROUTES TO CIM
Online Route.
Offline Route.
Outsourcing.
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ONLINE INTERACTION TOOLS
Interactive Website.
E-mails.
Web Communities.
Chat Rooms.
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OFFLINE INTERACTION TOOLS Telephones.
Facsimile (Fax).
Face to Face interaction.
Interactive Television Network.
Mails and So on.
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STAGES IN CUSTOMER LIFECYCLE
Acquisition.
Retention.
Attrition.
Defection.
Reacquisition.
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STATUS OF CUSTOMERS IN
THE RELATIONSHIP CHAIN Stage 1
Strangers.
Stage 2 Prospects.
Stage 3.
Inactive Customers.
Stage 4
Active Customers.
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FACTORS INFLUENCING CIM
Nature of Business.
Size of the Organisation.
Number of Customers.
Types of Customers.
Geographical Spread of Customers.
Frequency of Contact. Type of Product.
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FACTORS INFLUENCING CIM CONTD
Technical Support Available.
Presales Interaction Required.
After sales Interaction required. Competitor¶s practice of interaction.
Extent of loyalty.
Status of Customers in the relationshipprocess.
Lifestyle of Customers.
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EFFECTIVE CUSTOMER RELATIONSHIP
BUILDING
Key aspects needed for CIM.
Customer Database.
Customer Profiling.
Audit of Internal system and resources.
Electronic Data Interchange (EDI).
Application of Right Technology.
Active listening Mechanism.
Effective Networking.
Permission Approach. Building Virtual Relationship.
Focussing from Customer perspective.
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UNDERSTANDING THE CIM
Who Buys?
How they Buy?
Where They Buy?
How frequently they buy?
When they buy? What is their profile?
What lifecycle they are in?
What is their perception?
What is their expectation?
What are frequently asked questions?
What is their value for money?
What is their value for time and so on?
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INHERENT BENEFITS OF RETAINING CUSTOMERS
Customer by Chance.
Customer by Occasion.
Customer by Choice.
Customer by Repetition.
Customer by Loyalty.
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A CUSTOMER IS An asset.
An ambassador.
An experience shaper.
A winning edge. A knowledge provider.
A spokesperson.
A driving force.
A caretaker. A resource provider.
A partner .
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IMPORTANCE OF CUSTOMERRETENTION
Top 20% of the customers deliver 80% of the revenue.
Existing customers contributes upto 90% of the
revenue.
Top 20% of the customers deliver more than 100% of the profit.
The bulk of marketing benefit is often spent on people
other than customers.
Between 5% and 30% of all customers have the
potential for moving upward the loyalty ladder.
2% upward migration in the loyalty ladder means 10%
more revenue and 50% more profits.
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APPROACH TO RETENTION PROCESS At the acquisition the focus is on acquiring relationships
whereas at the retention, it is on nurturing the relationship.
At the acquisition the focus is on demographic,psychographic profile of customers , whereas at the
retention process the focus is more on past and presenttransactional profiles in addition to demographic andpsychographic profiles , etc.
While at the acquisition process the customer is mainlydriven by offer and incentives, at the retention process
the customer is driven by the type and extent of relationship maintained by the organisation for furtheringtheir relationship.
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STAGES OF RETENTION IN THE
CUSTOMER LIFE CYCLE
ACQUISITION.
RETENTION.
ATTRITION.
DEFECTION.
REACQUISITION.
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SEQUENCES IN RETENTION PROCESS
EXPLORING.
EVALUATING.
ESTABLISHING STRATEGIES.
EXAMINING FEEDBACK.
ATTRITION ± THE NEGATIVE SIGNAL TO RETENTION.
HANDLING COMPLAINTS TOWARDS IMPROVING
RETENTION.
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PERCEPTUAL GAPS AND RETENTION
PERCEPTUAL.
PROCEDURAL.
PROMOTIONAL.
POSITIONAL.
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GAPS IN CUSTOMER RETENTION
BUSINESS CUSTOMER
What the business thinks the
customer wants?
What the customer actually
wants?
What the business thinks a
Customer has bought ?
What the Customer has perceived
that he/she has received ?
What the business provides ?What the customer actually
received?
The expected service whichthe business provides.
The delivered service receivedby the customer.
The marketing promises of the
business.The actual delivery to the customer.
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GAPS IN CUSTOMER RETENTION CONTD
CUSTOMER BUSINESS
What the business perceives as
a suitable method for distribution.What the customer receives.
What the business perceives in its
positional strategy.What is reached to the customer.
What the business communicates What is communicated to thecustomer.
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MEETING CUSTOMER NEEDS AND ITS
IMPACT ON RETENTION BASIC NEEDS.
ARTICULATED NEEDS.
EXCITING NEEDS.
BASED ON LIFE STATUS.
LIFE MAINTAING NEEDS.
LIFE ENHANCING NEEDS.
LIFE CHANGING NEEDS.
BASED ON TIME.
EXISTING NEEDS.
FUTURE NEEDS.
BASED ON CONDITIONS.
EMOTIONAL NEEDS.
RATIONAL NEEDS.
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NEED DETERMINATION PROCESS FOR
CUSTOMERS
CAPTURING.
CLARIFYING.
CODIFYING.
CONDENSING.
CONTINUING.
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ROLE OF SATISFACTION IN THE
RETENTION PROCESS PRODUCT SATISFACTION.
PERIPHERAL SATISFACTION.
AMBIENCE SATISFACTION.
PSYCHIC SATISFACTION.
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CUSTOMER SATIFACTION
EXPECTATIONS FROM BUSINESS
EXPECTED SATISFACTION.
DESIRED SATISFACTION.
EXCITING SATISFACTION.
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CUSTOMER DISSATISFACTION
REJECTION.
POSTPONEMENT.
SUBSTITUTION.
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RETENTION CENTRED ORGANISATIONS
CONTD
ORGANISATIONS MUST HAVE THE MECHANISM TO TRACK
ATTRITION SIGNALS.
ORGANISATIONS SHOULD FOCUS ATTENTION ON FORMER
CUSTOMERS AND LOST CUSTOMERS.
ORGANISATIONS SHOULD PRACTICE TOTAL QUALITY
MARKETING WITH EMPHASIS ON INTERNAL MARKETING.
ORGANISATIONS SHOULD ENCOURAGE ALL EMPLOYEES
TOWARDS ACTIVE LISTENING TO CUSTOMERS
GRIEVANCES.
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RETENTION CENTRED ORGANISATIONS
CONTD
ORGANISATIONS IN ADDITION TO REGULAR RESEARCH
SHOULD ENCOURAGE HANDS ON RESEARCH ON CUSTOMER
RELATED PROBLEMS.
ORGANISATIONS SHOULD ENCOURAGE REGULAR
CUSTOMER CONTACT PROGRAMMES.
ORGANISATIONS SHOULD DEVELOP EFFECTIVECOMMUNICATION SYSTEMS WITH INTERNAL CUSTOMERS
( EMPLOYEE), INTERMEDIATE CUSTOMERS ( MIDDLEMEN),
AND EXTERNAL CUSTOMERS(END USERS).
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RETENTION CENTRED ORGANISATIONS
CONTD
ORGANISATIONS SHOULD EMPOWER EMPLOYEES AT
VARIOUS LEVELSSO AS TO ARRIVE AT APPROPRIATE
ACTIONS IN TERMS OF IMPROVING THE LEVEL OF
CUSTOMER SATISFACTION.
ORGANISATIONS SHOULD FOCUS ON EFFECTIVE TEAM
WORK , WITH THE OBJECTIVE OF CUSTOMER RETENTION.
ORGANISATIONS SHOULD FURTHER EMERGE INTO A
MARKET INTELLIGENT ENTERPRISE.
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RETENTION CENTRED ORGANISATIONS
LEARNING ORGANISATION.
CHARACTERISTICS OF A MARKET LEADER.
INNOVATIVE ORGANISATION.
EFFECTIVE CUSTOMER CARE PROGRAM ± ORGANISATIONS.
EFFECTIVE COMPLAINT MANAGEMENT SYSTEMS FOR
CUSTOMERS.
TOTAL EMPLOYEE INVOLVEMENT IN CUSTOMER CARE.
BUSINESS STRATEGIES WHICH ARE CUSTOMER CENTRIC.
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RELATIONSHIP THROUGH LOYALTY UNDERSTANDING BRAND.
THE PROCESS OF BRAND CHOICE.
CUSTOMER LOYALTY AND THEIR TYPES.
LOYALTY TOWARDS BRANDS.
THE BRAND SWITCHING BEHAVIOUR.
TOWARDS REACHING LOYAL CUSTOMERS.
THE LOYAL CUSTOMER LADDER.
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PROCESS OF BRAND CHOICE
TOTAL BRANDS
AWARENESS BRANDS
CONSIDERED BRANDS
CHOICE BRANDS
DECIDED BRAND
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INTERNAL AND EXTERNAL FACTORS INTERNAL FACTORS
Perception.
Motives.
Personality.
Self-Image.
Attitude.
Learning etc. EXTERNAL FACTORS
Culture.
Group Behaviour.
Family.
Role Relationship.
Economic Status.
Lifestyle.
Communication etc.
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CUSTOMER LOYALTY AND THE TYPES
LOYALTY TOWARDS BRANDS.
LOYALTY TOWARDS STORES.
LOYALTY TOWARDS ORGANISATION.
LOYALTY TOWARDS SALESPERSONS.
LOYALTY TOWARDS ANY OTHER RELATED ASPECT IN THE PROCESS OF PURCHASE AND
CONSUMPTION.
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BRAND SWITCHING BEHAVIOUR
DISSATISFACTION WITH THE PRESENTBRAND.
CHANGES IN FASHION.
PROMISES MADE BY COMPETITORS. CHANGES IN THE PERCEIVED BENEFITS.
PERSONAL CHARACTERISTICS OF THECUSTOMER CONCERNED.
PRESSURE OF SALESPERSONS. PERSONAL REASONS.
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TOWARDS REACHING LOYAL CUSTOMERS
MARKET IDENTIFICATION
SEGMENTED AND TARGETED MARKET
PROSPECTIVE CUSTOMERS
CUSTOMERS
LOYAL CUSTOMERS
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MARKET IDENTIFICATION MARKET IDENTIFICATION.
MARKET ENTRY.
MARKET EXISTENCE AND
MARKET EXPANSION.
MARKET SHARE.
MAR
KET LEADER.
MARKET CHALLENGER.
MARKET FOLLOWER.
MARKET NICHER.
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MARKET EXPANSION MARKET PENETRATION.
PRODUCT DEVELOPMENT.
MARKET DEVELOPMENT AND
DIVERSIFICATION.
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SEGMENTED AND TARGET MARKET
AGE.
MARITAL STATUS.
INCOME.
GENDER.
LOCATION.
VOLUME OF PURCHASE.
TYPE OF CUSTOMERS.
BUYING HABITS.
LIFESTYLE. BENEFIT EXPECTED.
EXTENT OF LOYALTY.
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PROSPECTIVE CUSTOMERS
REFERRAL LETTERS.
THROUGH FRIENDS AND RELATIVES.
VARIOUS DIRECTORIES.
THROUGH TRADE DIRECTORIES.
ADVERTISEMENTS.
BLIND TELEPHONE CALLS.
DEVELOPING DATABASE.
COLD CANVASSING.
FOLLOW UP OF THE COMPETITOR¶S CUSTOMERS. CUSTOMERS OF RELATED PRODUCTS ETC.
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CUSTOMERS
IDENTIFICATION OF PROSPECTS
CATEGORISATION OF PROSPECTS
CONVERSION OF PROSPECTS INTO CUSTOMERS
CONVERSION OF CUSTOMERS TO LOYAL CUSTOMERS
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LOYAL CUSTOMER LADDER CUSTOMER BY CHANCE.
CUSTOMER BY OCCASION.
CUSTOMER BY CHOICE.
CUSTOMER BY REPETITION.
CUSTOMER BY INSISTENCE.
CUSTOMER BY LOYALTY.
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LOYAL CUSTOMER NEW CUSTOMER BY CHANCE.
CUSTOMER BY OCCASION.
CUSTOMER BY CHOICE.
CUSTOMER BY INSISITENCE.
CUSTOMER BY LOYALTY.
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LOST CUSTOMER
NEW CUSTOMER BY CHANCE.
DISAPPOINTED CUSTOMER.
DISSATISFIED CUSTOMER.
LAPSED CUSTOMER.
LOST CUSTOMER.
WHY DO ORGANISATIONS NEED
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WHY DO ORGANISATIONS NEED
LOYAL CUSTOMERS? THE PARTNER.
THE ADVISOR.
THE CUSTODIAN.
THE RESOURCE PROVIDER.
THE CHANGE DRIVER.
THE EXPERIENCE SHAPER.
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RECOVERY OF LAPSED CUSTOMERS
STABLE CUSTOMERS.
GROOMING CUSTOMERS.
SEASONAL CUSTOMERS.
LAPSED CUSTOMERS.
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WHY DO CUSTOMERS DEFECT?
THE CUSTOMERS¶ SPECIFIC NEED HAS NOT BEENFULFILLED.
THEY MOVED OVER TO THE DIFFERENT PRODUCT
CATEGORY.
DISSATISFIED WITH THE ELEMENTS OF MARKETING MIX.
PERCEIVED BETTER VALUE FOR MONEY FROM THE
COMPETITOR¶S OFFERINGS.
DEVELOPED MISUNDERSTANDING WITH THE VALUEDELIVERY SYSTEM.
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WHY DO CUSTOMERS DEFECT?
DISPLEASURE AT THE POINT OF PURCHASE. DISSATISFIED WITH THE PERFORMANCE OF
AFTER SALES SERVICES.
INHERENT FEELINGS OF INDIVIDUALS TO TRY
NEW PRODUCTS. COMPULSION DUE TO TECHNOLOGICAL AND
ENVIRONMENT FORMS
INDUCED BY CHANGING LIFESTYLE AND
STAGES IN THE LIFECYCLE.
DEMOGRAPHICALLY MOVED AWAY FROM THE
MARKET PLACE.
PERSONAL REASONS.
STRATEGIES TO PREVENT DEFECTION AND
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STRATEGIES TO PREVENT DEFECTION AND
RECOVER LAPSED CUSTOMERS
TOTAL KNOWLEDGE ABOUT CUSTOMER
BEHAVIOUR.
INTERACTIVE COMMUNICATION SYSTEM.
SPECIAL PROMOTION CAMPAIGN.
DEVELOPING BARRIERS TO EXIT.
KNOWLEDGE ABOUT LIFESTYLE AND LIFECYCLE.
ESTABLISH MEASUREMENT SYSTEM.
ATTEMPT TO TRACK LOSSES.
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STRATEGIES TO PREVENT DEFECTION AND
RECOVER LAPSED CUSTOMERS CONTD
CUSTOMERS SPECIFIC APPROACH.
CUSTOMER WIN-BACK PROGRAMMES.
BUILDING CUSTOMER CARE TEAM.
DEVELOPING BONDAGE WITH CUSTOMERS.
IMPROVEMENT OF VALUE DELIVERY SYSTEM.
PRACTICE OF EXPERIENTIAL MARKETING.
BENCHMARKING OF PRACTICES.
CONTINUOUS IMPROVEMENT.
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DEVELOPING BARRIERS TO EXIT EMOTIONAL APPEAL.
CONFORMATION TO SPECIFICATION. DURABILITY.
LIFETIME UTILITY.
SOCIAL RELATIONSHIP.
FLEXIBILITY.
ADDED VALUE.
CONCESSIONAL PRICE SCHEMES.
COMMITMENT.
INNOVATIVE APPROACH.
REDUCING RIS
K.
AVOIDING THREAT.
HOLISTIC CARE.
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SUMMING UP After completion of the module, you will be able to explain Input for
Acquisition, Prerequisites for effective acquisition, attention on adoption
process, Customer Interaction Management (CIM), Routes to CIM, Online
Interaction Tools, Offline Interaction Tools, Stages in Customer Lifecycle,
Status of Customers in the Relationship Chain, Factors influencing CIM,
Effective Customer Relationship Building, Organisation, Inherent benefits
of Retaining Customers, Customer, Approach to Retention Process,
Stages of Retention In Customer Lifecycle, Sequences in Retention
Process, Perceptual Gaps in Retention, Gaps in Customer Retention,
Meeting Customer needs and its Impact on Retention, NeedsDetermination Process for Customers, Role of Satisfaction in the
Retention Process, Customer Satisfaction Expectations from Business,
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SUMMING UP CONTDCustomer Dissatisfaction, Retention centered Organisations,
Relationship through Loyalty, Loyalty Continuum, Process of Brand
Choice, Internal and External Factors, Customer Loyalty and its
types, Brand Switching Behaviour, Towards Reaching Loyal
Customers, Market Identification, Market Expansion, Segmented and
Target Market, Prospective Customers, Customers, Market
Identification, Market Expansion, Segmented and Target Market,
Prospective Customers, Customers, Loyal Customer Ladder, Loyal
Customer, Lost Customer, Why do Customers need Loyal
Customers?, Recovery of Lost Customer, Why do Customersdefect?, Strategies to prevent defection and recover lapsed
customers, Developing Barriers to Exit.
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QUESTIONS ??