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Customer Loyalty
The result of consistently positive emotional experiences, physical attribute-based satisfaction, and perceived value of an experience, which includes the product or services.
Implications
The degree to which customers consistently choose a particular brand or company over its competitors, often resulting from positive experiences, trust, and satisfaction, critical for long-term business success.
Example
Example: A coffee chain builds customer loyalty through a rewards program that offers discounts and free products to frequent buyers, leading to repeat business.
Related Terms
Different from customer satisfaction, which measures how happy customers are, loyalty focuses on the commitment to return and recommend the brand.
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