Topic > Importance of Consumer-Centric Approach - 1389

Customer relationship management is a process that acquires, retains and grows customers by providing superior value and satisfaction. (Nigel Pericy) one of the concepts used is loyalty program, unlimited program The goal of the program is to increase revenue and market share (Stephan a). Furthermore, the use of the loyalty program has three main advantages for the customer-oriented approach. The most significant is to enable the enterprise to build long-term relationships with the customer, in order to obtain permanent demand for a specific product produced by the enterprise. The second benefit is a side effect caused by the first, where a satisfied loyalty program member advertises to other people through word of mouth. Therefore, this could increase the number of customers joining the program, as well as a reduction and the cost of the company to advertise, therefore it slightly achieves its three main final objectives. And the last significant advantage is that it provides companies with a database that allows them to predict the future need to maintain market share and compete with other companies. Furthermore, this would reduce the costs of market research, which is generally difficult to obtain. For example, data on customer purchases. Furthermore, companies that have used this concept and had a positive effect are TESCO, Starbuck and so on... However, the company must maintain the quality of the good and service to maintain customer satisfaction which can lead to