Loyalty and Customer Relationship Management in Tesco Plc.

In this assignment I am going to produce report which identifying the expectation of client for my chosen organisation which Tesco and I will link the expectation of client to the organisation and the method they use to provide the Services and meeting the needs and expectation of the customers.

Over the decades there were tremendous amount of challenges for every business. Customers have more knowledge, they have more options, and they have higher expectations. Customers are more informed with the humungous development in technology. Having more options in front of them, expectations has surpassed in retail industry. Loyalty is a customer having faith that your organization’s product or services offered is the best for them. It is the process of tapping the buying pattern of customers in a store based on their preferences. Customer loyalty is significant because it is economical to retain the old customers rather than acquiring new customers. So, organizations employ loyalty programs which reward customers for their repeat business.

From an organisations point of view, especially in the short term, it would seem more appropriate to concentrate on behavioural loyalty because this is reflected in sales behaviour. Such behaviour is easily measured compared to components of attitudinal loyalty and matches key managerial performance indicators. Attitudinal measures may also not reflect consumer’s actions when the consumer is confronted with real choice. However, from a longer term view and especially from a CRM viewpoint, it is also vitally important to measure attitudinal loyalty. Attitudinal loyalty is composed of commitment and trust in the brand and/or organisation which will have impacts on sales both in the short and longer term. This type of loyalty is more likely to be an indicator of the potential longer term relationships that will be possible with given customers. Attitudinal loyalty is also likely to have influence on word of mouth and customer advocacy which may lead to indirect impacts on longer term sales or on costs of servicing

By definition, customer loyalty is the result of consistently positive emotional experience, physical attribute-based satisfaction and perceived

Every company wants to make money and bring in customers, but what about making loyal customers out of them so they continue to come back? How do you even bring in potential new customers and turn them into loyal customers to begin with? The lifetime value of a customer is a predicted value of net profit credited to the total future relationship of a customer. We want to know the financial value of each customer so that we know how much to spend in marketing when looking for new customers and the potential of profits back from the money in advertising spent. The grocery store chain must start looking at customers and how to make them happy and loyal in the long run, as opposed to how to boost sales right now. From the Marketing Management book, a well-known rule states that 80 percent or more of a firm’s profits come from the top 20 percent of its customers. Thus, we want to focus on brining in new customers with successful marketing and turning them into loyal returning customers.

Many marketers agree that by reducing customer’s to competitors defection by only 5 per cent, companies can improve profits by anywhere from 25 per cent to 95 per cent. There is no question this will be a great advantage and could benefit any retailer. It is for this very reason why consumer’s relationship marketing and using tools such as loyalty scheme is

This research aims to know the influence of product quality and customer satisfaction toward customer loyalty. This type of research is a research

It’s essential that companies or businesses today listen to their customers. No company or business today can afford to disregard the importance of customer satisfaction and loyalty. Aren’t they the same thing? No, they are absolutely not and they are enormously

Customer satisfaction and service quality are the two important components that direct anyone’s attention in every concept related to marketing, services, etc. (Spreng and Mackoy, 2006). In today’s competitive era, the success lies in

Organizations like Amazon store realized that attaining long-term customer value through delivery of quality services is the key to their existence. Also, be alert to the customer’s needs and wants, because having a loyal base of satisfied customer brings relevant performance indicators. For example, increase in sales improved profits, and possible higher market share (Shamma & Hassan, 2013).

It is imperative to satisfy customers and give them an amazing experience at the company. While it cost less to sell to existing customers and companies can increase profit by selling to the same customers; if customers are satisfied, there is more chance they will come back for more services or products. Satisfied customers are a free marketing for the company. However, it is the opposite if customers are dissatisfied. Dissatisfied customer will tell 8 to 10 people about his or her experience (O’Brien, A & Marakas, G. 2004). If by any reason, representatives see that the customer is not satisfy, they should act fast and fix the problem. Furthermore, there is more chance for sale representatives to sell to an existing customer that to a new customer. A good strategy for customer retention is to reward good customers. Companies can easily do

Recent time’s retail industry is achieving high importance. The retail industry is also facing very high competition and those who are able to retain their customers are the ones that are able to succeed in the market place.

An analysis of the factors of successful implementation of customer relationship management in chain of supermarkets in the United Kingdom

In the past decades, there was a controversial issue about the relationship between customer loyalty and satisfaction. Actually, it is still a heated debate nowadays. Some people said that customer satisfaction bring customer loyalty, while some people believed that customer loyalty affect customer satisfaction. Interestingly, very few executives and managers understand the critical difference. The purpose of this paper is to find the relationship between customer loyalty and satisfaction and how should companies do to build loyalty. According to some previous researches, we found that customer satisfaction is just one of the factors of affect customer loyalty.

The term “Brand Loyalty” also called as “Customer Loyalty” has been in the business industry since a very long time as a model to be used in conducting business. But it wasn’t until the mid to late 1900’s that the term was actually given its due importance by making it a vital part of advertising and marketing. The concept of marketing evolved substantially from being focused on sales of a product to having Customer satisfaction to be its focal point. Studies further revealed that there was a positive correlation between customer satisfaction and Brand Loyalty.