Measuring Outcomes of Brand Equity
There are two types of method employed to measure brand equity at source. These two methods are qualitative research methods and quantitative research methods. Qualitative research methods are ideal for measuring brand association where in consumer perceptions towards brand are captured. Quantitative research methods are perfect to understand brand awareness within consumer. Both above mention […]
Effective Corporate Governance Has to be Practiced at all Levels of the Organization
Some Recent Scandals Involving Corporate Governance The recent months have seen a spate of scandals involving corporates pertaining to corporate governance. From the Indian IT (Information Technology) bellwether, Infosys, to the hottest startup and Unicorn (startups that are valued at more than a Billion Dollars) and the TATA group to name a few, the corporate […]
Quality of Relationship with Customers
Satisfying customer needs ensures the business survival for an organization. A periodical check is required to enhance the quality of services and product to build a quality relationship with customers. For fulfilling this goal organizations must have a set of rules to measure and improve this quality. Delivering best quality services to customers is considered […]
Analytical CRM – Meaning and its Key Features
Analytical CRM supports organizational back-office operations and analysis. It deals with all the operations and processes that do not directly deal with customers. Hence, there is a key difference between operational CRM and Analytical CRM. Unlike from operational CRM, where automation of marketing, sales-force and services are done by direct interaction with customers and determining […]
Defining Value Proposition
Business and market realities of present times are forcing Organizations to re-think of their strategies as well as of their way of functioning. Every function from internal operating process, business model to product design, logistics as well as marketing and advertising is undergoing change to keep pace with the times. Managements are adapting to the […]
When customers end up his relationship with suppliers, he breaks the loyalty with him. Following are the reasons which are responsible for loyalty break ups:
Most of the unsatisfied customers try to find more prominent alternatives which results in their migration. In most of the cases the customer does not even complain about the dissatisfaction and simply divert their way to other supplier.
If the supplier is unable to follow the process of continuously updating technological related aspects of products and services he may loose customers as they divert in search of technological sound products and services.
Apart from the advanced technology, if the customers get enhanced and user friendly product features then it acts like additional incentives for them to migrate.
If supplier is not able to meet customers’ expectations then obviously customers would look for better alternatives. These expectations can be related to cost, quality, product service, efficiency, durability or any other aspect.
Many a times these expectations could be unrealistic or unreasonable due to the market scenario or some external business pressure. Under this kind of situation it is becomes very difficult for an organizations to meet all the expectations which result in sudden divert by breaking loyalty bond.
Any supplier which comes close to these unrealistic and unreasonable expectations of customers could retain him easily.
Even if they are fully satisfied with the existing supplier they would attempt a change for the sake of getting new and better option or because of any change in business rules and tactics.
These types of customers are experimental in nature and try to be innovative and creative by taking high business risks. These customers are supposed to be least loyal because they less likely to be attached with any sort of bond with single supplier. To retain these types of customers is a pain for all the suppliers and they generally try to change their attitude by inheriting some business tactics in their marketing strategies.
Hence apart from manufacturing good and sound products it is very important for the supplier to provide enhanced service components along with the product which will act as a roadblock for customer to divert.
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