Pantaloon Retail (India) - Careergyaan.org

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2.1 REVIEW OF CO�CEPT A�D THEORIES: FIRSTLY WE DISCUSS ABOUT WHAT IS CUSTOMER LOYALTY? SHETH & MITTAL have defined customer loyalty as “ a customer’s commitment to a brand , store or supplier based on a strong favourable attitude & manifested in consistent re-patronage .” Fig 2.1 Strong Weak Strong Behavior weak The above given definition of customer loyalty includes both behavior & attitude, which can result in four possible situations as shown in above fig. When both attitude & behavior are weak , it means no loyalty exists , weak attitude indicates the customer may not have any liking for the brand & the store. While weak behavior means that the purchase of the brand or visiting the store is sporadic. When the attitude & behavior are strong , it means that the customer has a strong brand or store loyalty. The remaining two situation cases are interesting. ATTITUDE When behavior is high but attitude is low, it can be said that the customer has spurious loyalty, i.e the customer may buy the same brand again & again or shop at same store regularly but may not have Institute Of Business Studies & Research Pune (Satish P.Goyal) Page 16
a preferential attitude towards it. Very often in such instance the choice of the brand or store may due to convenient location or the customer loyalty is incidental & not yet well founded, he or she may easily switch brands change stores if given more choice or interesting price deals. Thus the retailers or marketers would have to make efforts at strengthening the customer’s perception of the brand’s or store’s image. In the quadrant with strong attitude & weak behavior, the customer can be said to be having latent loyalty. The customer likes the brand or store but is unable to buy or visit the same probably because the price is too high or he or she lacks accessibility to the brand or the store. Thus in such instances , the retailers or marketers needs to reduce whatsoever barriers & tap the hidden potential of the market. <strong>Retail</strong>ers are beginning to focus their attention on encouraging customers to visit outlets, treating them to attractive promotions, thus adding more value to their best customers & satisfying them in the process. For to the retailers, customer loyalty will indicate that customer are committed to purchasing merchandise & services from them & will resist the activities of competitors attempting to attract their patronage. The term customer loyalty is used to describe the behavior of repeat customers, as well as those that offer good ratings, reviews, or testimonials. Some customers do a particular company a great service by offering favorable word of mouth publicity regarding a product, telling friends and family, thus adding them to the number of loyal customers. However, customer loyalty includes much more. It is a process, a program, or a group of programs geared toward keeping a client happy so he or she will provide more business. Customer loyalty can be achieved in some cases by offering a quality product with a firm guarantee. Customer loyalty is also achieved through free offers, coupons, low interest rates on financing, high value trade-ins, extended warranties, rebates, and other rewards and incentive programs. The ultimate goal of customer loyalty programs is happy customers who will return to purchase again and persuade Institute Of Business Studies & Research Pune (Satish P.Goyal) Page 17
Page 1 and 2: Institute Of Business Studies & Res
Page 3 and 4: 1) K. Raheja Group � Shopper’s
Page 5 and 6: RETAIL I� I�DIA The retail indu
Page 7 and 8: Retailing in India � Diversities
Page 9 and 10: TABLE 1.5: Where is the opportunity
Page 11 and 12: PRIMARY OBJECTIVE: 1.2 OBJECTIVES O
Page 13 and 14: diagram: Fig 1.1 There are various
Page 15: Institute Of Business Studies & Res
Page 19 and 20: Ten Tips to Build Customer Loyalty
Page 21 and 22: positive & pleasant , the retailer
Page 23 and 24: FACTORS ESSE�TIAL FOR BUILDI�G
Page 25 and 26: Before FUTURE CARD there were CENTR
Page 27 and 28: PENNE 10%-15% off on total bill amo
Page 29 and 30: The Claimed Benefits of Loyalty Pro
Page 31 and 32: Institute Of Business Studies & Res
Page 33 and 34: Pantaloon Retail (India) Limited Pa
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Page 37 and 38: CE�TRAL’S Launched in May'04 at
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Page 41 and 42: Central Mall Institute Of Business
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Page 55 and 56: DATA A�ALYSIS Research 1: Objecti
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Page 59 and 60: 22% 8% NORMALLY SPEND ON SHOPPING 1
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Page 65 and 66: CENTRAL’S should maintain the ser
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Q.8) Which store has a good store l
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I�TERPRETATIO� & SUGGESTIO�:
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From this above given questionnaire
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1) �AME : 2) AGE: 3) ADRESS: 4) G
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Research 2 : QUESTIO�AIEER Object
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