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Slashing Costs with Customer Loyalty - Case Study Example

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The following paper highlights that Frederick Reichheld has received substantial attention from the marketing industry, as he has been regarded as the "father of loyalty", due to his work of reinforcing the optimal value of loyalty in an organizational setting (Andrews, 1999)…
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Slashing Costs with Customer Loyalty
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Download file to see previous pages In that regard, the researcher intends to identify whether the works of Reichheld bear meaning or they are simply works of a marketer. This paper would contain an assessment of one of Reichheld’s articles in regards to a study he conducted, and relate this to academic literature relevant to marketing.
The Bain and Companys loyalty practice is founded by Fred Reichheld. The loyalty practice is designed to assist firms in attaining their organizational objectives and producing sustainable outcomes which can be achieved through an enhanced consumer and employee loyalty. Reichheld joined the company in 1978, whose duties encompass leadership activities, mainly concerning the context of Compensation and Nominating and Management committees across the globe. He eventually became the first Bain fellow of the company in 1999. Being a Bain fellowed allowed him to delve into research and writing while being employed in the firm. In line with Reichheld's work, he was able to associate the connection between loyalty and profit through studying retention at the end of the customers and employees (Reichheld, 2011).
He is also known as the author of bestselling books with the Harvard Business Review Press, which are as follows: (1) The Loyalty Effect: The Hidden Force Behind Growth, Profits, and Lasting Value; (2) Loyalty Rules! How Todays Leaders Build Lasting Relationships; and (3) The Ultimate Question. Some of his works include the NetPromoter framework, which was introduced in his book "The Ultimate Question". The NetPromoter framework has been utilized by various large corporations, which includes General Electric, Apple and American Express, to name a few. Apart from being an author, Reichheld is also a renowned speaker among various major business forums. In fact, Reichheld has been awarded as one of the 25 most influential consultants by the Consulting magazine in the survey they have processed in 2003. Reichheld educational background is rooted from Harvard College and Business school, in regards to his bachelor's degree and master's degree in Business Administration. ...Download file to see next pagesRead More
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