Customer Loyalty

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  • Topic: Steel, Stainless steel, Corrosion
  • Pages : 8 (1494 words )
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  • Published : April 18, 2013
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A STUDY ON CUSTOMER LOYALTY ON STAINLESS STEEL WITH REFERENCE TO SALEM STEEL PLANT Customer loyalty can be defines as “customer behavior characterized by a positive buying pattern during an extended period (measured by means of repeat purchase, frequency of purchase, wallet share or other indicators) and driven by a positive attitude towards the company and its products or services” (Looy, Gemmel & Dierdonck, 2003).

Statement of the problem:
To Study on Customer Loyalty no Stainless Steel

Importance of loyalty or loyal customer:

* Purchase the products and services again and again over time * Increase the volume of their purchases
* Buy beyond traditional purchases, across product lines
* Refer company's products and services to others

Objectives

* To analyze the extent of awareness about SSP among the customers to understand how people come to know about SSP. * To find out the factors that affects the purchasing decision of customers of SSP. * To study the people mentality about the market potential in SSP. * To study the present perception of market potential by the customers. * To know what are the competitions available in Salem for SSP. * To understand customer satisfaction.

* Maintain market share, 
* Get valuable customers,
* Retain and increase valuable customers,
* Upgrade high value customers, 
* Maintain a significant group of moderate value customers  * Form an opportunity cost through a competitor  
* To maintain growth 
* To get reputation

SCOPE OF THE STUDY:

* The study covers all functionality aspects of this company.

* The research will help the company to know the customer expectations &level of satisfaction.

Customer loyalty

* Customer loyalty is all about attracting the right customer, getting them to buy, buy often, buy in higher quantities and bring you even more customers. However, that focus is not how you build customer loyalty. * You build loyalty by…

* keeping touch with customers using email marketing, thank you cards and more. * treating your team well so they treat your customers well. * showing that you care and remembering what they like and don’t like. * You build it by rewarding them for choosing you over your competitors. * You build it by truly giving a damn about them and figuring out how to make them more success, happy and joyful. *

* 1. To study the Customer Loyalty
2. To know that how they attract to the Customers for purchasing in the convenience stores. 3. To know the Effect of Loyalty program on customers.
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Review of Literature

Title:
The relationships of customer satisfaction, customer loyalty, and profitability: an empirical study Author(s):
Roger Hallowell, (Harvard Business School, Boston, MA, USA)
Citation:
Roger Hallowell, (1996) "The relationships of customer satisfaction, customer loyalty, and profitability: an empirical study", International Journal of Service Industry Management, Vol. 7 Iss: 4, pp.27 – 42 Keywords:

Customer loyalty, Customer satisfaction, Financial services, Operations strategy, Profitability, USA Article type:
Research paper
DOI:
10.1108/09564239610129931 (Permanent URL)
Publisher:
MCB UP Ltd
Abstract:
Presents the findings of a study performed on data from a large bank’s retail-banking operations. Illustrates the relationship of customer satisfaction to customer loyalty, and customer loyalty to profitability, using multiple measures of satisfaction, loyalty, and profitability. An estimate of the effects of increased customer satisfaction on profitability (assuming hypothesized causality) suggests that attainable increases in satisfaction could dramatically improve profitability.

THEORETICAL FRAMEWORK 

The student researcher an article on Steel: domestic industry in a global market – address before the convention of the iron and steel...
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