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002 a Paper on Customer Loyalty White Paper ImcResearch

002 a Paper on Customer Loyalty White Paper ImcResearch

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imc Research is a syndicated intelligence corporate with leading market positions in custom research and research technologies and recognized innovative research products design, online intelligence, business intelligence and media research. Our clients rely on imc Research insights and analysis for their business growth and future regionally & globally.
imc Research provides a spectrum of world class consulting services in market research.
We offer our clients authentic information gathered from using research methodologies hiring the most internationally recognized research consultants to tackles the words most sophisticated business issues.
imc Research is a syndicated intelligence corporate with leading market positions in custom research and research technologies and recognized innovative research products design, online intelligence, business intelligence and media research. Our clients rely on imc Research insights and analysis for their business growth and future regionally & globally.
imc Research provides a spectrum of world class consulting services in market research.
We offer our clients authentic information gathered from using research methodologies hiring the most internationally recognized research consultants to tackles the words most sophisticated business issues.

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Published by: Abdelrahman Elsharawy on Feb 07, 2011
Copyright:Attribution Non-commercial

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02/13/2011

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©
2010
imc
 
Research
®
-
 
   C    h   a   p   t   e   r  :   W   H   Y   C   U   S   T   O   M   E   R   S   A   T   I   S   F   A   C   T   I   O   N   I   S   S   O   I   M   P   O   R   T   A   N   T
1
 
E-mail:
Web:
Adding Value through Intelligence
A White Paper by imc Research International
 
©
2010
imc
 
Research
®
-
 
   C    h   a   p   t   e   r  :   W   H   Y   C   U   S   T   O   M   E   R   S   A   T   I   S   F   A   C   T   I   O   N   I   S   S   O   I   M   P   O   R   T   A   N   T
2
 
Table of Contents
WHY CUSTOMER SATISFACTION IS SO IMPORTANT ......................................................................................... 3
WHY LOYALTY IS SO IMPORTANT
....................................................................................................................... 3
DON’T CONFUSE LOYALTY WITH INERTIA
.......................................................................................................... 5
WHAT ENGENDERS LOYALTY?
............................................................................................................................ 6
HOW DO WE MEASURE LOYALTY?
..................................................................................................................... 8
 
©
2010
imc
 
Research
®
-
 
   C    h   a   p   t   e   r  :   W   H   Y   C   U   S   T   O   M   E   R   S   A   T   I   S   F   A   C   T   I   O   N   I   S   S   O   I   M   P   O   R   T   A   N   T
3
 
WHY CUSTOMER SATISFACTION IS SO IMPORTANT
It seems self evident that companies should try to satisfy their customers. Satisfied customers usuallyreturn and buy more, they tell other people about their experiences, and they may well pay a premiumfor the privilege of doing business with a supplier they trust. Statistics are bandied around that suggestthat the cost of keeping a customer is only one tenth of winning a new one. Therefore, when we win acustomer, we should hang on to them.s a race that never ends.
WHY LOYALTY IS SO IMPORTANT 
Everybody is talking about loyalty nowadays. It is not that customer satisfaction has fallen by thewayside; rather it is that businesses recognise that a satisfied customer isn’t necessarily a loyal one.Let's think about that for a minute. Why may a satisfied customer not be loyal? There could be anumber of reasons. Firstly they may not be that satisfied. We researchers measure satisfaction onscales and, on a scale from 1 to 10, most companies achieve a score of around 8. This is right in themiddle of what we call a “corridor of average satisfaction” which spans from 7 to 9. In other words, 8out of 10 might sound good, but it is only OK. If you want your customers to stay loyal, you have to havescores of 9 out of 10 on the things that really matter.
Figure 1
The Zones Of Customer Satisfaction

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