The paper "Customer Loyalty and Relationship Marketing" is a good example of a research paper on marketing. Customer loyalty is a very important aspect of the business. The following paper discusses customer loyalty and relationship marketing. Loyalty is one of the factors that is used to measure business growth because the customers will maintain their continuity and frequency to the business. This aspect of loyalty means that the business person is guaranteed that there will be a specific number of customers that will have to come to his business during a certain period.
The branding makes a company look unique and to be differentiated from the others. In most of the companies that deal with fast-moving goods, the customers normally do not understand the quality of the product but they rely on the brand which they know for a long time. In all the sectors from the service industry, product-based and manufacturing customer is the most important person and he must be retained at all cost. Customer retention involves several activities which the company must be ready to give to him.
There are several reasons why a business is required to retain a customer. The reasons are that the customer has the possibility of coming for another service, cost reduction and improve the interaction between the customer and the business. When a business is acquiring new customers, there is a cost that is involved which can be saved if the customers were retained. When a business keeps on looking for new customers instead of retaining the ones it has it loses focus and it does not give much attention to innovation. The existing customers help to maintain the business by buying its products and also helping it grow by introducing new customers to it thus making the business expand.
Generally, customer retention is very vital for a business to grow and keep running. Loyalty and marketing have to be used by the companies to maintain their customers and also to acquire new customers. 1.0 Introduction 1.1 Background Information Fame home property is a private company in real estate which deals with property for sale and for rent. The company will start as an agency for rent and selling other properties.
It will be contacted by people who want to sell their property like land, apartments, houses, vehicles, etc and it will sell on their behalf. The company will be based in Australia and as it grows, it will open branches in the major towns. The long term plan for the company is to grow and instead of acting as an agency of selling other people's property it will develop their own property like a house-land package in suburb area and apartment inner city.
The company will invest in long term goals and it will build customer relationships. 1.2 Aim The aim of the paper is to discuss the relationship between the customer and the business. To find out how can a business make its customers loyal? In my case, I will focus on how to relate with a customer and make him the center of the business.