Creating value can lead to the creation of relationship. As long as there is the right degree of satisfaction, loyalty follows. Loyalty is rare in 2009, but it remains a goal of marketing.
1. Customer Value – Customer value is the benefits a customer receives net of the costs of acquiring and using and disposing of a product or service. [ COST/BENEFIT ]
2. Customer Satisfaction – Customer Satisfaction is the degree to which a product or service meets or exceeds customer expectations. [ DEGREE ]
3. Relationship Marketing – Relationship marketing refers to creating positive, mutually beneficial, long term associations with customers. [ ASSOCIATIONS ]
4. Customer Relationship Management – Customer Relationship Management (CRM) includes the activities that are used to establish, develop and grow sales. [ LOYALTY ]
How can organizations build loyalty? What are the steps? There will be variations based on target customers and industry, but here is a great article from BNET worth reading and considering.