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Create a 8 pages page paper that discusses buyer behaviour. Thus, it can be identified as a central facet of modern marketing. The motive of various researchers to comprehensively conceptualise the ph
Create a 8 pages page paper that discusses buyer behaviour. Thus, it can be identified as a central facet of modern marketing. The motive of various researchers to comprehensively conceptualise the phenomenon has been remarkably beneficial in identifying the two most important typologies of customer loyalty. The typologies are termed as behavioural and attitudinal loyalty. .
It is considered to be a significant shortcoming as a marketing concept. It is due to the fact that information regarding the customer motives shall increase the marketing potential of the company to a large extent which is unattainable with the assistance of behavioural loyalty (Shugan, 2005).
It is quite essential to accumulate both the approaches, i.e. the behavioural and attitudinal approaches while defining and implementing the strategies related to customer loyalty (Smith, 2002).
Loyalty programmes can be defined as an organised and well-structured marketing effort undertaken by companies with an intention to attain higher customer loyalty. With this objective, loyalty programmes are often structured to analyse the products and services according to the volume of customers’ investment and its frequency. Another major characteristic of loyalty programmes is that these initiatives focus on the stimulation of products and services on which the customers tend to invest largely over a long-term period (Pohl, 2007).
These loyalty programmes have often been criticised in the recent context. The marketers in the 21st century observed to adopt strategies, such as product segmentation and considered financial tricks in order to execute their loyalty programmes. Few of the most implemented strategies to execute the loyalty programmes can be observed as price discrimination strategies which evidently attract the customers who tend to be price-sensitive. Managers also focus on reward systems to maintain customers’ loyalty by providing cash and quantity discounts. Differentiating their product in the market and customizing their products and services are also recorded to be certain implemented strategies to execute loyalty programmes (Shugan, 2005).
