¶ … E-Customer Loyalty: Applying the Traditional Rules of Business for Online Success, by Frederick F. Reichheld, Robert G. Markey, Jr., and Christopher Hopton. Specifically, it will contain a one-page synopsis and two-page critique of the material.
E-CUSTOMER LOYALTY
This article goes into detail about what many consumers have known for a long time. The most successful merchants, both online and off, are those who recognize the importance of developing a good relationship with their customers, thereby creating customer loyalty and greater profits for their company. The paper argues that many online merchants do not recognize that many brick-and-mortar business rules still apply to their businesses online. "They often forget that the fundamental rules of successful business still apply" (Reichheld et al. 173). The article goes on to discuss two particular companies foray into e-commerce, and their experience with building a profitable company online. It continues with information on how to build customer loyalty, and identify your customer. It also provides ideas on how to build trust, get to know your customer, and empower your organization to develop great customer relationships.
The authors conclude with the idea that online business faces the same rules of operation as traditional businesses, and satisfied customers are one of the most important assets of any successful business. They also note that the Internet has changed the pace of business, and it causes companies to continually "innovate to stay ahead of competitors in serving their customers" (Reichheld et al. 178). The Internet allows customers from all over...
Much marketing research has been done on analysing customer behaviour and retention. As a consequence, it is crucial for online companies to create a loyal customer base, as well as to monitor the profitability of each segment (Reinartz and Kumar, 2002) Definition of customer e-loyalty Customer loyalty has been defined as "a deeply held commitment to re-buy or re-patronize a preferred product/service consistently in the future, thereby causing repetitive same-brand or
Supply Chain Management Hypothesis defined Concepts of SCM and the evolution to its present day form Critical factors that affect SCM Trust Information sharing and Knowledge management Culture and Belief -- impact on SCM Global environment and Supply Chain management "Social" and "soft" parameter required for SCM Uncertainties This chapter aims to give an outline and scope of the study that will be undertaken in this work. The study lays out the issues faced by manufacturing organizations when it comes
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