Are There New Sources Of Competitive Advantage In Markets, Which Are Being Exploited By Forward Looking Organisations In The 21st Century? Use Examples To Illustrate Your Answer.

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Issue:

Business

 

Written by:

Robert C

 

Date added:

July 18, 2014

 

Level:

University

 

Grade:

A

 

No of pages / words:

5 / 1208

 

Was viewed:

4434 times

 

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Essay content:

Many Business's have recognised the importance of customer loyalty such as Tesco’s who have the ‘loyalty card’ whereby customers who consistently use their card are rewarded; this will help in building a ‘long term’ relationship. As Doyle and Stern state relationship marketing is a long term, continuous series of transactions between parties...
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In today’s environment forward thinking organisations are realising “the annual profits generated from a customer who has been with a company for seven years are typically more than five times the amount it generates in the first year” (Doyle Stern). Thus “Organisations have realised that it is five times more expensive to attract a new customer than it is to retain an existing one” (Heskett et al...
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