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. A typical example of this type of model is: quality of product or service leads to customer satisfaction, which leads to customer loyalty, which leads to profitability.
Read more about Loyalty Business Model: The Service Quality Model, Expanded Models, Data Collection
Famous quotes containing the words loyalty, business and/or model:
“One perceives that again and again she has destroyed her life when it was forming into shapes of happiness because of her loyalty to the early misery, her conviction that that has the sanction of ultimate reality, and that beside it all other things are trivial.”
—Rebecca West (1892–1983)
“Art is the beautiful way of doing things. Science is the effective way of doing things. Business is the economic way of doing things.”
—Elbert Hubbard (1856–1915)
“... if we look around us in social life and note down who are the faithful wives, the most patient and careful mothers, the most exemplary housekeepers, the model sisters, the wisest philanthropists, and the women of the most social influence, we will have to admit that most frequently they are women of cultivated minds, without which even warm hearts and good intentions are but partial influences.”
—Mrs. H. O. Ward (1824–1899)