From the course: Marketing Strategy: Build Customer Loyalty
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Invest in building the loyalty you want
From the course: Marketing Strategy: Build Customer Loyalty
Invest in building the loyalty you want
- [Instructor] In this course, I've introduced three different types of loyalty: head, heart, and hand. So which type is best? The answer is it depends. Just like in interpersonal relationships, the best brand customer relationships are built between partners who are well suited for each other. Although there is not a one-to-one relationship between loyalty and core competence, your organization's core competence dictates the type of loyalty that is superior to the others for your brand. And if you want to change the type of loyalty you attract, your organization will need to set about changing its commercial competencies. A company with a functional performance core competence is skilled at innovating its products and technology and disseminating information. It builds a reputation for quality and credible performance based on data. It attracts customers who are rational and will pay a premium for performance. BMW…
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