CBB individual report Essay Example | Topics and Well Written Essays - 1500 words

CBB individual report - Essay ExampleCustomer loyalty takes years to build and once it is established, the strike is to make sure the confederacy maintains its threshold over the existing customers as well as attract new ones to make the business more than and more profitable and strong. (John, 2003)Establishing a new product out of the blue seems to be not a very favorable option in the developed markets as no one would be attracted to the new hype. Rather people will take it as a just another new product in the market idea and continue with their lives. This cannot be allowed for a business, which is in its starting days, at all. Sooner or later, it will come back to the thought of get together itself with some strategic alliance for the betterment of its business, until the business itself is standing on its feet and that too with pride and without anyones help. These strategic alliances not only help the crowing businesses to capitalize on the strengths of large, multination al companies but also draw huge sums of benefits, both in the form of money and customer loyalty. This is a challenge both for the new business as well as the alliance with which the company is thinking of forming a bond with, chiefly because their own business is partly mutually beneficial on the new one, which they will help to set their feet upon.A products equity depends on four such factors which might include its pretend and how much the people are aware of this very name. Another factor is the loyalty level of the consumers with regards to this product or the brand which is available in the market. on a lower floor the loyalty level are five types of groups present which include the non-customers who simply do not buy this product which is being sold under the companys name but purchase the one of the competitors. (Griffin, 2002) Other one is the group that houses the price switchers who are extremely sensitive to price. The passively loyal pass out buys out of habit rath er than any reason. Fence sitters do not make an effort to judge between