Sample Thesis Paper
Research into customer purchase trends has also proven over time that the cost of acquiring a new customer and initiating the relationship and identity building process costs over five times more than it does to continue an already founded relationship with a former customer (Peck 1997). Of course, the figure varies from industry to industry, but it is important to note that this overall trend remains the same. If success is to be achieved, it is imperative for an organization to realize that potential migration is the primary threat to the company. Marketing gurus around the world now speak of the importance of the retention programs for the organization instead of the acquiring process as part of their CRM strategies (Gitomer 2005).A large proportion of market research that organizations now carry out is based on an analysis of the customer loyalty trends in the target consumers. These research studies can be classified to belong to two types of genres. In one classification fall the studies that were centred on the different levels of loyalty that are found in consumers. The second classification is, in which those studies fall that chose to centre on the different factors that influence customer loyalty. Modern day researches, such as those that are the centre of attention in this paper, present a perspective of customer loyalty that is founded on a combination of both these classifications (Newell 2002). A mere overview of the perspectives such as those analyzed in the initial paragraphs of this literature review proves this standpoint. It is important to highlight at this point that researches such as those by Gitomer, Teal and Reichheld, Stirtz, Patterson and Bell, Timothy, Reza and Manuchehr, Xuan-Thao, Kumar, Gustafsson and Johnson, Lowenstein, Reichheld, Zeithaml, Rust and Lemon, Timm Giddens and Hoffman, Assael, Tucker, Jacoby, Kyner, Arjun, Morris, Balmer, Thompson, Gregory and Williamson are only a small fraction of the research studies that have been analysed in this literature review.