The paper "The Impact of Customer Loyalty and Relationship Marketing" is a great example of a research paper on marketing. Chen and Popovich (2003) state that there has been an increased interest in Customer Loyalty and Relationship Marketing (CLRM). In reference to Chen and Popovich, such strong rivalry characterizes the modern-day business environment has resulted in building a firm relationship between the firm and clients. In accordance with Boshoff and Allen (2000), this phenomenon is described by this concept has been strongly supported by the ongoing trends in contemporary business. In keeping with Chan and Ndubisi (2004), firms are increasingly capitalizing on the strong firm-customer relationship.
In reference to Chan and Ndumbisi (2004), this is assisting the firms to achieve invaluable information on the best way to offer their services. It also keeps clients from defecting to other competing brands. Hence, Customer Loyalty and Relationship building create mutual rewards that benefit both the firm and the customer. In building a relationship with the consumer, an organization gains quality sources of marketing intelligence for improved planning on marketing strategy (Gefen, 2002; Lampton, 2003).
Therefore, it is essential to empirically examine the exact impact on the underpinnings of Customer Loyalty and Relationship Marketing. Such an understanding helps in better management of the relationship between the customer and the business and in achieving high levels of customer loyalty (Lindgreen et al. 2004; Rowley & Dawes, 2002). This work contributes as a guide to a luxurious hotel. It gives the hotel valuable information on the expectations of the clients which if duly met then there shall be no occurrence of service gaps. The paper gives scope for service-oriented businesses to improve their overall quality of services and strengthen their position in the industry. 1.1 Background Information Customer Loyalty and Relations Management can be termed as customer’ s adherence to an establishment (Buttle, 2004).
In reference to Buttle, Loyal customers do not leave the event when the business makes mistakes. With the current global recession and financial crisis, changes in customer preferences have been observed there has been a decline in family income and increased unemployment. With such global changes, customer loyalty has changed with the recession. The hotel wants to start a program that will enhance customer loyalty and retain the already existing customers. One of the most indispensable elements of CLRM of a Luxurious hotel is the communication of outcome to the marketing manager and the organization's sales force, the members of CLRM and any other employee who interact with customers.
As a marketing manager delivering this study to the Chief Executive Officer, I submit a profound analysis of various CLRM programs that can be implemented and the most valuable way of Customer loyalty that can boost profitability.