Marketing Concept Consumer Loyalty essay

Marketing Concept Consumer Loyalty essay Marketing Concept: Consumer Loyalty essay Marketing Concept: Consumer Loyalty essayConsumer loyalty is a feature of subjectively-positive approving consumer attitudes to a company, its brands, products and services, personnel, and other aspects, expressed through commitment. Under a loyal customer, marketers understand a person who makes regular repeat purchases, consumes a wide variety of company’s products, attracts other buyers, and does not respond to competitors’ offers. In general, consumer loyalty to a company largely determines the success of business and its assessment in the eyes of competitors and partners, as well as provides a strong foundation for stable sales. Further, we will focus on the essence of this marketing concept by studying both theoretical understanding and practical applications of loyalty mechanisms.Basically, loyalty is expressed in the fact that a consumer gives preference to company’s goods or services for a considerably long period of time (usually, over 1 year), almost w ithout asking for similar solutions from company’s major competitors. In this case, the concept of loyalty behavior includes the following categories (Reichheld Teal, 2001, p. 41): 1) action factors (purchase); 2) intention (subsequent actions; the probability of repeat purchases); 3) recommendations (the probability of recommendations of other people); 4) sensitivity (insensitivity to the actions of competitors); and 5) inertia (willingness to find other new options). The key force pushing a customer from stage 1 to subsequent stages is a positive experience after acquiring a product. For example, if a consumer is fully satisfied with the quality of a product of a particular company and service by company’s personnel, next time, with the rest factors stable, he/she is highly likely to make the same consumer choice in favor of this brand (further, we won’t consider the basic preconditions of loyalty, assuming that a company is competitive enough to provide them ). Besides, this favorable attitude will also be transferred to all the new products of the company. Furthermore, the strategy of strengthening customer loyalty is justified through the recent research results showing that the attraction of one new customer costs 5-10 times more than retaining an existing one (Reichheld Teal, 2001, p. 137), while a satisfied customer typically informs an average of 3 friends about a successful purchase, and an unsatisfied client shares one’s annoyance with about 10 friends (Reichheld Teal, 2001, p. 151).From the standpoint of company’s financial success, consumer loyalty leads to the following results (basing on Reichheld Teal, 2001; Dooley, 2011; and Velzquez et al., 2011):1) consumers become less sensitive to price, which means that a product (or service) can be charged at a higher price without the risk of losing the part of the turnover;2) the cost of sales to existing customers is lower than sales to the new ones. As a result, company’s profitability may grow up, even though the price is pulled down. In this case, a client can be offered a range of additional services (products) on the basis of cross-selling, thereby increasing the turnover of the company. Indeed, as Hallberg (1995) states, approximately 80% of their incomes companies receive from 20% of their customers, whereas the increase in the share of regular customers by only 5% results in the profit increase by 50% or even more (Reichheld Teal, 2001, p. 213).That is why, today more and more companies come to the idea of creating and implementing measures aimed at strengthening customer loyalty, primarily by means of personalized sales. For this purpose, companies provide the opportunities leaving feedback through which their consumers articulate their complaints or questions about the quality of a product/service, as well as introduce special programs to encourage consumption such as various seasonal discounts, gift certificates, birthday presents and sales on national holidays. Another effective approach is the development accumulative cards or club memberships for consumers.The latter method allows companies to not only attract new customers, but also greatly improve the quality of interaction with regular partners. One of the world’s first programs of this kind was the AAdvantage developed by American Airlines, which guaranteed passengers a substantial discount on next ticket after accumulating a certain number of miles. Today, similar programs are widely adopted in key airline services, as well as in hotel and restaurant chains. In a subconscious fear to lose alluring opportunities, consumers vigorously collect their loyalty points. As a result, Hilton clients rarely switch for Marriott (Velzquez et al., 2011). Studies have shown that loyalty programs using some type of bonus cards result in a decrease in consumer turnover by 30%, and an increase in the volume of business by 10%, while holding only 5% of t he total number of customers over time lead to 25-85% increase in profit obtained from them (Reichheld Teal, 2001, p. 183-87). At the same time, as Velzquez et al. (2011, p. 70) rightfully claim, bonus programs may be easily copied and therefore cannot provide a decisive competitive advantage.According to Garth Hallberg (1995), differentiated marketing strategy should also involve highly profitable direct communication and feedback based on efficient database systems. For instance, such large companies as Procter Gamble and Kraft Foods have already collected databases numbering more than 40 million records of individual households (Rungie et al., 2013, p. 1672), and the effectiveness of this strategy is proved experimentally. In particular, studies show a significant increase in the positive image of the brand and the volume of its purchases by those customers who have participated in direct communication programs on increasing loyalty. A typical program aimed at potentially high- profit consumers leads to an increase in sales inside this group by nearly 25% (Dean, 2007, p. 165). It is also important to mark that a substantial increase in company’s fame, image and frequency of purchases in the case of direct communication with consumers had a long-term effect. In many studies (Reichheld Teal, 2001; Dean, 2007; Rungie et al., 2013), changes were recorded even 2-3 months after the program implementation, while about 80% of the U.S. television audience cannot remember a particular advertisement they have seen the day before.On the other hand, in their long-term perspective, bonus cards turn to be unprofitable, and direct communication is often annoying. In this regard, one of the most vivid examples of an effective strategy is Apple, Inc., known for its most loyal customers. Despite several considerable declines, Apple has managed to achieve unprecedented loyalty by competently playing on â€Å"tribal instincts†. This amazing loyalty was surely bu ilt of many factors including advanced design, original products and technologies, user experience, creative marketing, etc. However, there is also an unexpected element, which, according to Roger Dooley (2011), played one of the key roles: the creation of an enemy to compete with. In its marketing fights with Samsung, Apple has been persistently building the social image of Apple users, which would differ dramatically from the rest of consumers. The result of using basic social archetypes was the emergence of Apple cult. Similar contradistinction strategy also used to be applied by such competitors as Nike and Adidas, IBM and Microsoft.Here, basing on Rungie et al. (2013) and Dooley (2011), a current trend should be stressed again: contemporary consumers react positively primarily on companies offering ideas â€Å"beyond known†, i.e. new technologies and bold features. Other non-material forms of consumer loyalty strengthening may involve company’s transparent policie s, clear corporate social responsibility policy, green and eco-saving innovations, newly discovered ways to connect on media, possibilities of the uniqueness of samples or their full compliance to individual specific requirement, as well as their multifunctionality. For instance, the Sportline Company has recently invented an interactive bottle equipped with a display. The smart vessel not only dispenses liquid, but also tells the time of the next portion, and demonstrates current indicators to monitor the level of water need in the body. The Life cycle of such products might be short, but the loyalty accompanying will be high proportionally. Attracted by markets gamification, consumers are often ready to follow their idols to the end.In sum, a loyal customer is always valuable in financial terms: he/she regularly buys company’s products, attracts new customers, requires much less attention, is already familiar with the company’s range of products and offerings, as wel l as more resistant to price fluctuations and is prone to overpay a little rather than buy unfamiliar goods. Therefore, the crucial task for any company consists in consumer retention, the inadmissibility of consumer’s departure to company’s competitor. In this regard, consumer devotion should be rewarded with an excellent service, personal attention, personalized discounts, bonuses, and gifts, in a row with relevant policies on constructing consumer’s social image, and considering personal feedbacks, interests and tastes in developing new product lines.

Angle of Vision

I see and hear many things happening around me. I am close to many other people and the doorways to various stores. As the people walk by me there Is a small gust of wind from behind them that feels like when a car drives by you on the road. This place Is so very calm. A few people sit down next to me, and they all chat quietly while drinking Struck. Everyone that is walking through the lounge and talking with their friends seems to be having a good time Just hanging out.Most people are smiling. I hear people whispering and laughing. One student walks quickly with an unhappy look on his face. Some people are sitting here listening to their pod and studying. The quiet buzz from their pods is calming. With everything going on in this one single room it still seems very quiet and peaceful to This room Is so noisy I cant even stand to be In here. Someone spilled their drink all over the floor. It made a huge mess. It looks Like It has Just rained Inside the building since there Is a huge puddle now.Some of the drink landed on the wall and Is now running down the wall Just Like a drop of rain. It has gotten really noisy with any people walking through to go to dinner. They are stomping down the stairs as a herd of elephants would walk through the plains. Someone gets bumped when they are walking down the stairs and yells. People are talking loudly to their friends and laughing. As the crowd of people move downstairs not many people are left. Most people are starting to leave.There are very few people in here now and most are headed to their room to go to study, relax, or sleep. The quiet is so different from all of the noise earlier. Analysis I decided to use Sheen Lounge as my observation spot because It seemed Like a alma and place to sit where I could observe the surroundings. There are many businesses, people, and places to sit inside Morris so it felt as a very dominant place to make observations. With people going through here to go to lunch or dinner or just to go to classes it was an extremely busy setting.I used a several different strategies in my essays. I used figurative language in my essay quite frequently. When I talked about someone spilling their drink all over the floor and it running down the wall, I said that it looked like it had rained all over the room. I also used a simile in my essay. When I talked about how it got really noisy inside this certain room I said it sounded like a herd of elephants walking through the plains. In my positive view I used the couches as my focus point. This Is where I sat and observed everything that happened.As I said In my positive view everyone walking through with their friends having a good time was also another focus point for me. Another example is the unhappy student. This is an example of word choice. Noise it almost seemed impossible to focus on what I was doing at the time. Now that I look back on it I dont know how people do homework in the lounge during the day. I used a good example or word choice in my negative view. I said that it has gotten really noisy and it sounds like elephants running through the plains.This gives me a very vivid visual picture in my mind. Now that my views are stated I want to end by saying that the Sheen Lounge is not the best place to observe or the best place to do anything except be loud and playful. Using sentence structure, word choice and simile shows exactly what you want the audience to see. By changing around a word it could be taken as positive or negative. In conclusion you always have to capture a mental picture for your audience, otherwise they wont know what you are talking about.

Outlook of Gulf Politics Essay Example | Topics and Well Written Essays - 250 words

Outlook of Gulf Politics - Essay Example Essentially, politics in the Gulf basin are sectarian-based. The division between the Shia and the Sunni, though emerging from the historical issues has been used by the powerful monarchs in the Gulf basin to further regional and self-interest. The Persian Gulf faces a number of challenges that might bring intense conflicts in the region. Religious extremism is a serious issue that has emerged as a potential area of conflict. The emergence of the Islamic state and the demanding ideological goal furthered by the group have brought into focus on the vulnerability of the Persian Gulf4. The Islamic state has been accused of massive atrocities, including terrorism, genocide and human rights violations. Balance of power is another area that may bring about conflicts in the Persian Gulf. The urge by different sects wanting to wield power and have control of the region is a potential issue of conflict, and though the struggle has been witnessed over the years5. Kristian, Coates Ulrichsen. Internal and External Security in the Arab, Gulf States. 2009. Available at:

Brave New World Revisited by Aldous Huxley Research Proposal

Brave New World Revisited by Aldous Huxley - Research Proposal Example In its extreme, racist form, eugenics intended to obliterate all human beings considered "unfit," saving only those who matched to a Nordic label. The eugenics theory hailed forced sterilization and isolation laws, in addition to marriage controls. In America, eugenics practitioners eventually forcefully sterilized some 60,000 Americans, barred the marriage of thousands, compulsorily isolated thousands in "colonies," and harassed countless numbers. Before World War II, nearly half of forced sterilizations were done in California, and even after the war, the state contributes for a major percentage of all such surgeries (Black). In the novel Brave New World, Huxley had indicted against modern science and eugenics. In the second chapter of "Brave New World Revisited", however, Huxley seems disappointed by eugenics being discarded, saying, "In the Brave New World of my fantasy, eugenics and dysgenics were practiced systematically. In this second half of the twentieth century we do nothing systematic about our breeding". Does that mean that Huxley now regrets what he said before, that, social eugenics controlling population systematically would have benefited humanity in the long run Would Huxley now prefer biologically better ova, fertilized by biologically better sperm, to produce better species of people aided by the best possible pre-birth care to be lastly decanted Probably to answer such criticism, Huxley soon says, in the haphazard and looseness of the natural order and the biological interference that is aimed at reducing diseases and so on, we not only over-populate our earth but we also confirm that those who do not receive good care and treatments become the greater numbers - people having biologically poorer attributes. This, according to Huxley, means that an almost unknowing repetition of the Bokanovsky Process as depicted in Brave New World where biologically substandard ova, fertilized by biologically poorer sperm, were put through and dealt before birth with alcohol and other protein-destroying toxics, to make ("decant") the creatures finally nearly subhuman. Thus, for Huxley, eugenics is a proposed as a form of pseudoscience that is focused on "improving" the human race. In this paper, I will discuss Huxley's views on eugenics, the origins of the theory as well as the current views on the same. Development of the study of eugenics Eugenics was proposed as a means to selective breeding and genetic engineering in order to make human beings fit to survive in the world of the fittest, or in what is known as social Darwinism. The definition of eugenics is itself a much controversial subject. While some scholars think altering the gene pool is what is eugenics, some argue even attempting to alter some behavioral traits is also eugenics. Modern day reprogenetics, preemptive abortions and designer babies or infanticide in some primitive societies may also termed as eugenics. Eugenics may be positive - by increasing the fertility rate of the stronger genetic qualities - or negative - by lowering the fertility rate of the weaker genetic qualities. Perhaps this was why abortion was illegal for the racially superior women in Nazi Germany. In the modern times, eugenics is practiced by

The Problem of Teen Alcoholism in the United States Essay -- Drinking

From pastures to unsupervised blowouts at home, the social calendars of most teens are full of alcohol. Other drugs rise and fall in popularity from generation to generation, but alcohol never really goes out of style. From being worshiped by the ancient Babylonians to being forbidden to teenagers, alcohol has caused many problems. Today, drinking is the drug of choice by teens and causes most wrecks and deaths today. To understand alcohol people must first know the history of alcohol, the effects of teen drinking, and the solutions to teen drinking.   Ã‚  Ã‚  Ã‚  Ã‚  Alcohol has been all around the world for centuries and has become a custom of people all over. No one knows for sure who discovered alcohol, but we know how different types of alcohol are made. Just as well, no know knows when alcohol was discovered. There are no records of the discovery or discoverers of alcohol. Although historians do know alcohol ?was used by primitive people and recorded as early as 10,000 years ago in the Neolithic period and by European civilization?(Milgram 22). As early as 5000 B.C., the ancient Babylonians brewed, the process of making beer, their beer in religious temples because it was considered a gift from God. Beer is an alcoholic beverage made by fermentation of cereal grains such as, wheat, rye, corn, or barley; beer contains 3 to 6 percent alcohol. Besides the ancient Babylonians, the ancient Egyptians drank beer. The Egyptians called their beer hek, which was made from barley bread. The bread was crumbled into jars, covered with water, and allowed to ferment. The Egyptian pharaohs blessed this beer in the honor of the goddess of nature, Isis. Egyptians handed out free jugs of beer to peasant workers, and by no surprise drunkenness was a common problem in ancient Egypt (Nielsen 13).   Ã‚  Ã‚  Ã‚  Ã‚  The strongest alcohol drinks are called liquors or spirits. An Arabian alchemist named Geber discovered liquor in the eighteenth century A.D. Geber made liquor by distillation, burning away the impurities that formed in wine during fermentation and isolated the remaining liquids. As a result, the concentrated liquid had a higher alcoholic content, which was ?mainly flavored alcohol and water?(Milgram 65). Arnaud de Villanueva discovered liquor in Europe 500 years later, when he made brandy. Arnaud claimed that brandy would cure all humanity?s diseases, prolong life, maintain youth, a... ...o 21 in Mexico and Canada, it would help cut down on teenage drinking. Everyday teenagers drink, despite the many dangers and risks that they are taking every time they drink. Throughout history and probably in the future, alcohol will be the leading drug of choice for teenagers. On the other hand, teenagers in turn are becoming better educated about themselves and the risk of alcohol. Work Cited ?Alcohol Education Program For Minors.? Texas Commission on Alcohol and Drug Abuse, 1994. Mothers Against Drunk Drivers. Drinking Driving and Other Drugs. Homepage. 20 June 2001. Milgram, Gail. Coping with Alcohol. New York: The Boston Publishing   Ã‚  Ã‚  Ã‚  Ã‚  Group1987. NCADD. Youth, Alcohol, and Other Drugs. Homepage. 20 June 2001.   Ã‚  Ã‚  Ã‚  Ã‚   ?Net Biz Mentor.? Underage Drinking. Homepage. 20 June 2001.   Ã‚  Ã‚  Ã‚  Ã‚   Nielson, Nancy. Teen Alcoholism. San Diego: Lucent Books, Inc., 1990. O?Brien, Robert, Morris Chafetz, Sidney Cohen. Understanding Alcohol And Other Drugs. Vol. 1. New York: Facts on File, Inc., 1999.

Supply and Management

__† .. _ _~~ w† t'HlI~ln †Ã¢â‚¬ '110111'1;/1'1 gllls! les)7 h. If another person Wasadded, where is the logical place'? c. What effect would a mail order lab (where the glasses are made off site and returned in 5-7 days) have on the process? 10 A quoting department for a custom publishing house can complete 4 quotes per day, and there are 20 quotes in various stages in the department. Applying Little's Law, the current lead time for a quote is how many days? 11 A small barber shop has a single chair and an area for waiting, where only one person can be in the chair at a time, and no one leaves without getting their hair cut. So the system is roughly: Entrance —+ Wait —+ Haircut —+ Exit Assume customers arrive at the rate of 10 per hour and stay an average of 0. 5 hour. What is the average number of customers in the barber shop? ADVANCED PROBLEM 12 Remember Mr. Rockness in Problem 2? He now retrains college professors. It is a much more challenging task but still involves five steps. He has worked hard to balance the line; however, there is a lot of variability. Each stage in the process now handles between one and six faculty members er hour depending on how bad the case is. If there is some inventory available for every position (do not worry about the start-up), what is the expected output per hour? (Assume that each stage is independent and that it is equally likely that one. two, three, four, five, or six faculty members get processed each hour at each stage. )† 5/'IEJ ::l-#1-1 ~ i4. * MAil, S$ _:. II. CASE: II ANALYZING _ _ â€Å"†l&'l;~R CASINO ,'† â€Å"ll~ RIfj~_I _ WlI'_W I† MONEy-HANDLING ~_m~~_>

Race, a Never Ending Problem Essay example - 1076 Words

Racial inequality has to be one of the top issues in the world; it seems as if it cannot be solved. There are many who fight for racial equality and believe they have won however racism and inequality still exists. Usually the main targets of racial discrimination are the working class African Americans; this issue prevents them from bettering their lives. In A Raisin in the Sun the author, Lorraine Hansberry analyzes the lives of the oppressed younger family; she molds her literature by showing that racism and classism are the reasons why they cannot accomplish their goals. It is understood that this play gives the insinuation that racial equality leads to a better future, which is what the younger family longs for. The characters Walter,†¦show more content†¦Once he goes on with the investment in the liquor store he is then betrayed. This shows that he was taken advantage of possibly because he is black. This then leads him to say â€Å"We get to looking ‘round for the right and the wrong; and we worry about it, cry about it, and stay up nights trying to figure out ‘bout the wrong and the right of things all the time†¦ man, them takers is out there operating, just taking and taking†(Act III). He is disgusted with what Willy Harris did to him, he feels like a piece of his life was snatched from him. Walter already doesn’t trust the â€Å"white man† but now he is being betrayed by his own kind. This incident serves as an addition to his current discriminatory nature. Along with Walter, Mama has also dealt with her share of racial discrimination with respect to her social class. Mama is the typical mother/grandmother; she always hopes for the best and wants the best for her family. She has dreams of living in a nicer, less dangerous area, the Clybourne neighborhood which is predominantly white. She receives bad reviews from her neighbor but doesn’t worry about it. She is then faced with a racial issue involvi ng a representative from the neighborhood. Mr. Lindner wants to bribe the family so they won’t move into that neighborhood he states, â€Å"Well I don’t understand why you people are reacting this way. What do you think youShow MoreRelatedPrejudice and Discrimination in America Today Essay1663 Words   |  7 PagesAcross the nation, millions of Americans of all races turn on the television or open a newspaper and are bombarded with images of well dressed, articulate, attractive black people advertising different products and representing respected companies. The population of black professionals in all arenas of work has risen to the point where seeing a black physician, attorney, or a college professor are becoming more a common sight. 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