Components of Customer Loyalty: What You Never Knew About Your Returning Customers
We have two basic components of customer loyalty, Perceptual and transactional components.
The perceptual component is loyalty which is based on perception. This happens when customers become based on their attitudes, opinions and emotions.
It happens when customers feel fined after they have used a particular product. It has to do with how much the organization is able to meet the customers’ pre-purchase expectations.
For example, a customer bought Mercury soap or cream because he wanted to tone his body.
The transactional measurement of loyalty has much to do with customers’ intentional or tangible purchase behaviour, such as the inclination towards making a repeat purchase.
Some just like to make a repeat purchase, not necessarily because the product satisfied their needs.
A customer might decide to stick to an organisation because of the stress involved in searching for another product that will do just the same thing.
This might be attributed to search costs, transaction costs, learning costs and other forms of risk associated with switching to a competitor.
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