CUSTOMER LOYALTY IN SMALL BUSINESS-TO-BUSINESS
The high costs of attracting new customers has made customer loyalty the focus ofmany leading companies. Small businesses that operate in the business-to-businessmarket often rely on relatively fewer customers than larger businesses. The loss ofonly a few customers can have a severe impact on profitability. This makes the issueof customer loyalty even more important to small business than institutionalisedbusiness.The purpose of this research has been to determine the perceptions associated withcustomer loyalty in small business-to-business relationships.The main findings of the research were that small business owners have a positiveattitude toward loyalty and intent to remain loyal to their small business suppliers. Theybelieve there are number of positive outcomes associated with loyalty and that theseoutcomes are important to their business. Loyal customers will spread positive word ofmouth and refer new customers to the supplier
Year of publication: |
2011-06-07
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Authors: | Penfold, Walter Thomas |
Subject: | Customer loyalty | Customer relationships | Business-to-business relationships |
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