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Essay / Customer Loyalty and Retention - 810
Providing good service to your customer is the first step to retaining consumers. Failing to provide good service to a customer will only cause them to look elsewhere with their purchase. Customer satisfaction is a key element in having a customer who will return for future purchases. The organization must study its market and adapt to its demands. They need to investigate the purchasing behavior of their audience. Customer buying behavior involves investigating what people buy, why they buy, and how the buying process takes place (Kotler, 1994) and they must carry out in-depth research. Organizations need to adopt the right pricing strategies. Prices must be fair and affordable. Pricing strategy must be an integral part of any organization selling to the market (Wharton, 2003). By having a reasonable price; the client is able to retain existing customers and attract new ones. It is also worth noting that organizations must carry out proper market analysis in order to keep prices in line with their competitors. Having good prices helps retain existing consumers and also helps attract new ones.