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LOYALTY MANAGEMENT

What is this practice and how effective is it?

Loyalty management is the process of managing and measuring customer loyalty and ultimately improving the long-term performance of the business. But loyalty is often confused with satisfaction. Recent research on measuring loyalty offers companies new opportunities to turn loyalty management into a winning formula. But few companies have heard the message or reaped the benefits. We will learn from recent research how firms can focus on loyalty as a key strategic theme.

Alternative names and related topics: service-profit chain; customer aggravation index; customer retention; customer surveys; net promoter score

In the industrial age, owning production and distribution capacity ...

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