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Loyalty business model, the Glossary

The loyalty business model is a business model used in strategic management in which company resources are employed so as to increase the loyalty of customers and other stakeholders in the expectation that corporate objectives will be met or surpassed.^[1]

29 relations: Affect (psychology), Amortization (accounting), Brand loyalty, Business model, Customer, Customer retention, Customer satisfaction, Fred Reichheld, Habit, Job satisfaction, Lifestyle (social sciences), Loyalty business model, Medallia, Net present value, Net promoter score, Organizational culture, Patronage concentration, Profit (economics), Profit margin, Quality (business), Service (business), Service quality, Stakeholder (corporate), Strategic management, Switching barriers, The Office (American TV series), Training and development, Vicious circle, Word of mouth.

Affect (psychology)

Affect, in psychology, is the underlying experience of feeling, emotion, attachment, or mood.

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Amortization (accounting)

In accounting, amortization is a method of obtaining the expenses incurred by an intangible asset arising from a decline in value as a result of use or the passage of time.

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Brand loyalty

In marketing and consumer behaviour, brand loyalty describes a consumer's persistent positive feelings towards a familiar brand and their dedication to purchasing the brand's products and/or services repeatedly regardless of deficiencies, a competitor's actions, or changes in the market environment.

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Business model

A business model describes how an organization creates, delivers, and captures value,Business Model Generation, Alexander Osterwalder, Yves Pigneur, Alan Smith, and 470 practitioners from 45 countries, self-published, 2010 in economic, social, cultural or other contexts. Loyalty business model and business model are business models.

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Customer

In sales, commerce, and economics, a customer (sometimes known as a client, buyer, or purchaser) is the recipient of a good, service, product, or an idea, obtained from a seller, vendor, or supplier via a financial transaction or an exchange for money or some other valuable consideration.

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Customer retention

Customer retention refers to the ability of a company or product to retain its customers over some specified period.

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Customer satisfaction

Customer satisfaction is a term frequently used in marketing to evaluate customer experience.

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Fred Reichheld

Frederick F. Reichheld (born 1952, Cleveland, US) is an American New York Times best-selling author, speaker and business strategist.

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Habit

A habit (or wont, as a humorous and formal term) is a routine of behavior that is repeated regularly and tends to occur subconsciously.

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Job satisfaction

Job satisfaction, employee satisfaction or work satisfaction is a measure of workers' contentment with their job, whether they like the job or individual aspects or facets of jobs, such as nature of work or supervision.

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Lifestyle is the interests, opinions, behaviours, and behavioural orientations of an individual, group, or culture.

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Loyalty business model

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Medallia

Medallia is an American customer and employee experience management company based in San Francisco, California.

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Net present value

The net present value (NPV) or net present worth (NPW) is a way of measuring the value of an asset that has cashflow by adding up the present value of all the future cash flows that asset will generate.

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Net promoter score (NPS) is a market research metric that is based on a single survey question asking respondents to rate the likelihood that they would recommend a company, product, or a service to a friend or colleague. Loyalty business model and Net promoter score are customer loyalty programs.

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Organizational culture

Organizational culture refers to culture related to organizations including schools, universities, not-for-profit groups, government agencies, and business entities.

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Patronage concentration

Patronage concentration is a term used in marketing and retailing.

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Profit (economics)

In economics, profit is the difference between revenue that an economic entity has received from its outputs and total costs of its inputs, also known as surplus value.

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Profit margin

Profit margin is a financial ratio that measures the percentage of profit earned by a company in relation to its revenue.

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Quality (business)

In business, engineering, and manufacturing, quality – or high quality – has a pragmatic interpretation as the non-inferiority or superiority of something (goods or services); it is also defined as being suitable for the intended purpose (fitness for purpose) while satisfying customer expectations.

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Service (business)

Business services are a recognisable subset of economic services, and share their characteristics.

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Service quality

Service quality (SQ), in its contemporary conceptualisation, is a comparison of perceived expectations (E) of a service with perceived performance (P), giving rise to the equation SQ.

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Stakeholder (corporate)

In a corporation, a stakeholder is a member of "groups without whose support the organization would cease to exist", as defined in the first usage of the word in a 1963 internal memorandum at the Stanford Research Institute.

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Strategic management

In the field of management, strategic management involves the formulation and implementation of the major goals and initiatives taken by an organization's managers on behalf of stakeholders, based on consideration of resources and an assessment of the internal and external environments in which the organization operates.

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References

[1] https://en.wikipedia.org/wiki/Loyalty_business_model

Also known as Customer Loyalty.

Loyalty business model, the Glossary

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References