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Customer Loyalty
In marketing and consumer behaviour, brand loyalty describes a consumer's persistent positive feelings towards a familiar brand and their dedication to purchasing the brand's products and/or services repeatedly regardless of deficiencies, a competitor's actions, or changes in the market environment. It's also demonstrated with behaviors such as positive word-of-mouth advocacy. Corporate brand loyalty is where an individual buys products from the same manufacturer repeatedly and without wavering, rather than from other suppliers. In a business-to-business context, the term source loyalty is also used.Wind, Y.Industrial Source Loyalty ''Journal of Marketing Research'', Volume 7, No. 4 (November 1970), pp. 450-457, accessed on 22 January 2025 Loyalty implies dedication and should not be confused with habit, its less-than-emotional engagement and commitment. Businesses whose financial and ethical values (for example, ESG responsibilities) rest in large part on their brand loyalty ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
The Office (American TV Series)
''The Office'' is an American mockumentary sitcom television series based on the 2001–2003 BBC series The Office (British TV series), ''The Office'' created by Ricky Gervais and Stephen Merchant and starring the former. Adapted for NBC by Greg Daniels, a veteran writer for ''Saturday Night Live'', ''King of the Hill'', and ''The Simpsons'', the show depicts the everyday work lives of office employees at the Scranton, Pennsylvania, branch of the fictional Dunder Mifflin, Dunder Mifflin Paper Company, and aired from March 24, 2005, to May 16, 2013, with a total of nine seasons consisting of List of The Office (American TV series) episodes, 201 episodes. The show was co-produced by Daniels' Deedle-Dee Productions, Endemol Shine North America, Reveille Productions (later Shine America) and 3 Arts Entertainment (although uncredited) in association with Universal Television. The original executive producers were Daniels, Gervais, Merchant, Howard Klein (television producer), Howar ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Loyalty Business Model
The loyalty business model is a business model used in strategic management in which a company's resources are employed so as to increase the loyalty of customers and other stakeholders in the expectation that corporate objectives will be met or surpassed. A typical example of this type of model is where quality of product or service leads to customer satisfaction, which leads to customer loyalty, which leads to profitability. The service quality model A model by Kaj Storbacka, Tore Strandvik, and Christian Grönroos (1994), the service quality model, is more detailed than the basic loyalty business model but arrives at the same conclusion. In it, customer satisfaction is first based on a recent experience of the product or service. This assessment depends on prior expectations of overall quality compared to the actual performance received. If the recent experience exceeds prior expectations, customer satisfaction is likely to be high. Customer satisfaction can also be high even ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Customer Switching
In marketing and microeconomics, customer switching or consumer switching describes "customers/consumers abandoning a product or service in favor of a competitor". Assuming constant price, product or service quality, counteracting this behaviour in order to achieve maximal customer retention is the business of marketing, public relations and advertising. Brand switching—as opposed to brand loyalty is the outcome of ''customer switching behaviour''. Reasons Variability in quality or market price fluctuations—especially a rise in prices—may lead customers to consult price comparison services, where alternative suppliers may be offered. Declining customer satisfaction may be due to poor service quality but also—to a lesser degree—be a symptom of boredom with the brand of choice. Brand loyalty can be very strong, however, and the longer a commitment to a brand lasts, the stronger the ties will usually be. According to a 2013 Nielsen study on customer loyalty, brand swi ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Customer Satisfaction
Customer satisfaction is a term frequently used in marketing to evaluate customer experience. It is a measure of how products and services supplied by a company meet or surpass customer expectation. Customer satisfaction is defined as "the number of customers, or percentage of total customers, whose reported experience with a firm, its products, or its services (ratings) exceeds specified Contentment, satisfaction goals".. Enhancing customer satisfaction and fostering customer loyalty are pivotal for businesses, given the significant importance of improving the balance between customer Attitude (psychology), attitudes before and after the consumption process. Expectation confirmation theory, Expectancy disconfirmation theory is the most widely accepted theoretical framework for explaining customer satisfaction. However, other frameworks, such as equity theory, attribution theory, Contrast theory of meaning, contrast theory, assimilation theory, and various others, are also used to ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Customer Loyalty
In marketing and consumer behaviour, brand loyalty describes a consumer's persistent positive feelings towards a familiar brand and their dedication to purchasing the brand's products and/or services repeatedly regardless of deficiencies, a competitor's actions, or changes in the market environment. It's also demonstrated with behaviors such as positive word-of-mouth advocacy. Corporate brand loyalty is where an individual buys products from the same manufacturer repeatedly and without wavering, rather than from other suppliers. In a business-to-business context, the term source loyalty is also used.Wind, Y.Industrial Source Loyalty ''Journal of Marketing Research'', Volume 7, No. 4 (November 1970), pp. 450-457, accessed on 22 January 2025 Loyalty implies dedication and should not be confused with habit, its less-than-emotional engagement and commitment. Businesses whose financial and ethical values (for example, ESG responsibilities) rest in large part on their brand loyalty ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Vendor Lock-in
In economics, vendor lock-in, also known as proprietary lock-in or customer lockin, makes a customer dependent on a vendor for products, unable to use another vendor without substantial switching costs. The use of open standards and alternative options makes systems tolerant of change, so that decisions can be postponed until more information is available or unforeseen events are addressed. Vendor lock-in does the opposite: it makes it difficult to move from one solution to another. Lock-in costs that create barriers to market entry may result in antitrust action against a monopoly. Lock-in types ; Monopolistic : Whether a single vendor controls the market for the method or technology being locked in to. Distinguishes between being locked to the mere technology, or specifically the vendor of it. This class of lock-in is potentially technologically hard to overcome if the monopoly is held up by barriers to market that are nontrivial to circumvent, such as patents, secre ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Share Repurchase
Share repurchase, also known as share buyback or stock buyback, is the reacquisition by a company of its own shares. It represents an alternate and more flexible way (relative to dividends) of returning money to shareholders. Repurchases allow stockholders to legally delay taxes which they would have been required to pay on dividends in the year the dividends are paid, to instead pay taxes on the capital gains they receive when they sell the stock, whose price is now proportionally higher because of the smaller number of shares outstanding. In most countries, a corporation can repurchase its own stock by distributing cash to existing shareholders in exchange for a fraction of the company's outstanding equity; that is, cash is exchanged for a reduction in the number of shares outstanding. The company either retires the repurchased shares or keeps them as treasury stock, available for reissuance. Under U.S. corporate law, there are six primary methods of stock repurchase: o ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
End User Agreement
An end-user license agreement or EULA () is a legal contract between a software supplier and a customer or end-user. The practice of selling licenses to rather than copies of software predates the recognition of software copyright, which has been recognized since the 1970s in the United States. Initially, EULAs were often printed as shrink wrap contracts, where tearing the shrink wrap indicated acceptance. Software distributed via the internet is more commonly licensed via clickwrap (where the user clicks to agree to the license) or browsewrap (continuing to browse the website indicates agreement). Most companies prefer to sell licenses rather than copies of the software because it enables them to enforce stricter terms on the end user in a number of domains, especially by prohibiting transfer of ownership or use on multiple computers, and by asserting ownership of the copyright of derivative works, such as user-generated content in video games. Enforceability of EULAs has be ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Brand Extension
Brand extension or brand stretching is a marketing strategy in which a firm marketing a product with a well-developed image uses the same brand name in a different product category. The new product is called a spin-off. Organizations use this strategy to increase and leverage brand equity (definition: the net worth and long-term sustainability just from the renowned name). An example of a brand extension is Jello-gelatin creating Jello pudding pops. It increases awareness of the brand name and increases profitability from offerings in more than one product category. In the 1990s, 81 percent of new products used brand extension to introduce new brands and to create sales. Launching a new product is time-consuming but also needs a big budget to create brand awareness and to promote a product's benefits. Brand extension is one of the new product development strategies which can reduce financial risk by using the parent brand name to enhance consumers' perception due to the core br ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Marriott International
Marriott International, Inc. is an American multinational corporation, multinational company that operates, franchises, and licenses lodging brands that include hotel, residential, and timeshare properties. Marriott International owns over 37 hotel and timeshare brands with 9,000 locations and 1,597,380 rooms across its network (as of 2023). Marriott International is headquartered in Bethesda, Maryland. The company is the successor to the hospitality division of the Marriott Corporation, founded by J. Willard Marriott (1900–1985) and his wife Alice Marriott (1907–2000). Profile Marriott International is the largest hotel company in the world by the number of available rooms. It has 36 brands with 9,361 properties containing 1,706,331 rooms in 144 countries and territories. Of these 9,361 properties 1,981 are managed but not owned by Marriott, 7,192 are owned and managed by independent hospitality companies under franchise agreements with Marriott, and 51 are both owned and ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Pepsi Stuff
Pepsi Stuff was a major loyalty program launched by PepsiCo, first in North America on March 28, 1996 and then around the world, featuring premiums — such as T-shirts, hats, denim and leather jackets, bags, and mountain bikes — that could be purchased with Pepsi Points through the ''Pepsi Stuff Catalog'' or online. Customers could acquire points from specially marked Pepsi packages and fountain cups. Additional points were sold both by Pepsi and by consumers, the latter mainly enabled by eBay. The first Pepsi Stuff promotion ended on October 31, 1996. It was relaunched 12 years later on February 1, 2008, ended on December 31, 2008, and was relaunched as Pepsi Pass in August 2015. Pepsi Stuff was relaunched on January 22, 2018 with retro editions of Pepsi, and ended on February 28, 2019. History Program inception The premium-based loyalty program of PepsiCo called Pepsi Stuff was launched in the United States on March 28, 1996. Points were distributed on four billion ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
