Data Collection
Typically, loyalty data is being collected by multi-item measurement scales administered in questionnaires. However, other approaches sometimes seem more viable if managers want to know the extent of loyalty for an entire data warehouse. This approach is described in Buckinx, Verstraeten & Van den Poel (2006).
All historical trends for different segmentations and their standard of living may also be very helpful in developing customer retention strategy. Lifestyle is also a very powerful tool, can be used for better customer retention and to know his/her needs in better way.
Read more about this topic: Loyalty Business Model
Famous quotes containing the words data and/or collection:
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—Susan Sontag (b. 1933)
“The Nature of Familiar Letters, written, as it were, to the Moment, while the Heart is agitated by Hopes and Fears, on Events undecided, must plead an Excuse for the Bulk of a Collection of this Kind. Mere Facts and Characters might be comprised in a much smaller Compass: But, would they be equally interesting?”
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