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Five factors are largely responsible for why
once-solid companies are out of step with today’s more sophisticated and demanding customers.
Consider this figure: $100 billion. That''s the amount of money the Global 1000 spends on marketing and advertising across all media. It''s no small amount, but it''s apparently not enough to halt the erosion of customer loyalty that''s been accelerating during the past decade. According CNW Marketing Research, actual customer loyalty (i.e., repeat purchase of the same brand) in the auto industry has dropped 5 percent from 1990 to 2000 and continues to decline. More than one-third of all brands analyzed dropped in customer loyalty by double-digit percents — some by more than 30 percent.
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