| dc.description.abstract | Retaining all customers would not be a good idea for any business. In contrast, allowing the profitable customers to leave would be an even worse idea. Consequently the real solution rests in knowing the value of each customer and then focusing loyalty efforts on those customers. Customers are more likely to be loyal to a group of brands than to a single brand. This is particularly true if the chosen brand is the category leader and costs more. In contrast to the one – brand- for – life mentality of the past, today’s consumers are blatant in their divided loyalties, for their own safety and pleasure. The conceptual framework presented helps to understand the evolving logic of loyalty programs and process of implementing the same. Applications in different service industry for building and sustaining loyalty provide an overview of the status of such programmes. | en |
