How Customer Service earns Customer Loyalty Thesis

How Customer Service earns Customer Loyalty - Thesis Example The study would also include a section that would address the area of primary research methodology that would be used to analyze the research question. Finally the study would also contain a section that would summarize the findings of the study and finally suggest certain plausible recommendations that would help marketers of service based organizations to formulate effective strategies that helps in build long term relationships with the organizations thus fostering customer loyalty and ensuring sustainable competitive advantage for the organization in the long run in the competitive and turbulent business environment. Table of Contents How Customer Service earns Customer Loyalty 1 Abstract 2 Chapter 1: Introduction 5 Statement of Problem and Importance of Study 6 Definition of Terms 8 Customer Loyalty 8 Brand 8 Brand Equity 8 Innovations 8 Service Mix 8 Research Questions 9 Summary 9 Chapter 2: Literature Review 10 Historical Background 10 Service Delivery and Customer Loyalty 11 Measuring Customer Satisfaction 14 Distinction between Products and Services 15 Elements of Customer Loyalty 17 Service Innovations and Customer Loyalty 18 Customer Loyalty and Competitive Advantage 20 Service Mix and Customer Loyalty 21 Customer Loyalty and Brand Image 22 Summary 24 Chapter 3: Primary Research Methodology 24 Sampling 25 Data Collection Techniques 25 Research Methodology 26 Summary 27 Chapter 4: Discussion, Conclusion and Recommendations 28 Discussions 28 Conclusions 29 Recommendations 30 References 32 Chapter 1: Introduction The present age of business and consumer markets is rightly termed as the age of consumers. Business organizations in the wake of increased completion within the market are trying out new means to lure customers. It has become essential for organizations to not only attract new customer alone but to also retain the existing customers. In this event customer relationship management and consequently customer loyalty have become largely an importa nt part of the strategy formulation of business organizations. This strategy of business organizations follows from the popular thought which states that it is easier and less expensive to retain an old customer rather than acquiring a new one. Promoting customer loyalty has therefore become one of the most important elements of strategy formulation for business organizations. Customer loyalty is largely measured as an outcome of the level of customer satisfaction which is defined as â€Å"the customer’s fulfillment response to a customer experience, or some part thereof† (Buttle, 2008, p.44). Business organizations are trying out newer strategies to induce customer loyalty which includes providing loyalty cards that can be used by the customer to redeem points based on their purchases. The points can be redeemed for cash discounts or other offers which helps induce repeat purchases by the customers. Customer loyalty has gained widespread importance in the recent years with the dynamics of markets changing from a seller’s market to a buyer’s market. Promoting customer loyalty also helps an organization to get closer to its customers so as to better analyze the demands of the customers. The importance of customer loyalty can be gauged from the fact that in Europe