Name and describe five stages of customer loyalty.

Information Technology

CUSTOMER SATISFACTION AND CUSTOMER LOYALTY

Every business organisation’s success depends on the satisfaction of the customers. Whenever a business is about to start, customers always come “first” and then the profit. Those companies that are succeeding to satisfy the customers fully will remain in the top position in a market. Today’s business company has known that customer satisfaction is the key component for the success of the business and at the same time it plays a vital role to expand the market value. In general, customers are those people who buy goods and services from the market or business that meet their needs and wants. Customers purchase products to meet their expectations in terms of money. Therefore, companies should determine their pricing with the quality of the product that attracts the customer and maintains the long-term affiliation.

1.1 The article above states: “Therefore companies should determine their pricing with the quality of the product that attracts the customer and maintains the long-term affiliation”. Name and describe five stages of customer loyalty.