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Loyalty Effect
''The Loyalty Effect'' is a 1996 book by Fred Reichheld of the consulting firm Bain & Company, and the book's title is also sometimes used to refer to the broader loyalty business model as a whole. Reichheld's book was exceptionally popular with marketing and customer relationship management professionals, and as such the phrase "loyalty effect" has become synonymous in some circles with the more generic concepts covered by the loyalty business model. Hughes, Arthur Middleton, "Measuring the Loyalty Effect," Direct Magazine, 1998 In 2001, Reichheld penned a sequel to the book called ''Loyalty Rules!'' and released a revised edition of the original work. Bibliography * Reichheld, Frederick F. ''The Loyalty Effect'', |
Fred Reichheld
Frederick F. Reichheld (born 1952 in Cleveland, Ohio) is an American ''New York Times'' best-selling author, speaker and business strategist. He is best known for his research and writing on the loyalty business model and loyalty marketing. He is the creator of the Net Promoter System of management (NPS). Early life and education Reichheld graduated with a B.A. from Harvard College (1974) and an MBA from Harvard Business School (1978). Career Reichheld is a Fellow of the management consultancy Bain & Company, where he has worked since 1977. In 2003, ''Consulting Magazine'' named him one of the world's top 25 consultants. According to The New York Times, he "put loyalty economics on the map." The Economist magazine called him "the high priest of the loyalty cult" in 2001. Writing His books include '' The Loyalty Effect'' (1996), ''Loyalty Rules!'' (2001), and ''The Ultimate Question: Driving Good Profits and True Growth'' (2006). He has authored articles for business p ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Human Resource Management
Human resource management (HRM) is the strategic and coherent approach to the effective and efficient management of people in a company or organization such that they help their business gain a competitive advantage. It is designed to maximize employee performance in service of an employer's strategic objectives. Human resource management is primarily concerned with the management of people within organizations, focusing on policies and systems. HR departments are responsible for overseeing employee-benefits design, employee recruitment, training and development, performance appraisal, and reward management, such as managing pay and employee benefits systems. HR also concerns itself with organizational change and industrial relations, or the balancing of organizational practices with requirements arising from collective bargaining and governmental laws. The overall purpose of human resources (HR) is to ensure that the organization can achieve success through people. HR pr ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Harvard Business Review Press
''Harvard Business Review'' (''HBR'') is a general management magazine published by Harvard Business Publishing, a not-for-profit, independent corporation that is an affiliate of Harvard Business School. ''HBR'' is published six times a year and is headquartered in Brighton, Massachusetts. ''HBR'' covers a wide range of topics that are relevant to various industries, management functions, and geographic locations. These include leadership, negotiation, strategy, operations, marketing, and finance. ''Harvard Business Review'' has published articles by Clayton Christensen, Peter F. Drucker, Justin Fox, Michael E. Porter, Rosabeth Moss Kanter, John Hagel III, Thomas H. Davenport, Gary Hamel, C. K. Prahalad, Vijay Govindarajan, Robert S. Kaplan, Rita Gunther McGrath and others. Several management concepts and business terms were first given prominence in ''HBR''. ''Harvard Business Review''s worldwide English-language circulation is 250,000. HBR licenses its conten ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Book
A book is a structured presentation of recorded information, primarily verbal and graphical, through a medium. Originally physical, electronic books and audiobooks are now existent. Physical books are objects that contain printed material, mostly of writing and images. Modern books are typically composed of many pages bound together and protected by a cover, what is known as the '' codex'' format; older formats include the scroll and the tablet. As a conceptual object, a ''book'' often refers to a written work of substantial length by one or more authors, which may also be distributed digitally as an electronic book ( ebook). These kinds of works can be broadly classified into fiction (containing invented content, often narratives) and non-fiction (containing content intended as factual truth). But a physical book may not contain a written work: for example, it may contain ''only'' drawings, engravings, photographs, sheet music, puzzles, or removable content like ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Bain & Company
Bain & Company is an American management consulting company headquartered in Boston, Massachusetts. The firm provides advice to public, private, and nonprofit organizations. One of the Big Three (management consultancies), Big Three management consultancies, Bain & Company was founded in 1973 by former Group Vice President of Boston Consulting Group Bill Bain (consultant), Bill Bain and his colleagues, including Patrick F. Graham. In the late 1970s and early 1980s, the firm grew rapidly. Bill Bain later corporate spin-off, spun off the alternative investment business into Bain Capital in 1984 and appointed Mitt Romney as its first CEO. Bain experienced several setbacks and financial troubles from 1987 to the early 1990s. Romney and Orit Gadiesh are credited with returning the firm to profitability and growth in their sequential roles as the firm's CEO and chairman respectively. In the 2000s, Bain & Company continued to expand and create additional practice areas focused on working ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Loyalty Business Model
The loyalty business model is a business model used in strategic management in which a company's resources are employed so as to increase the loyalty of customers and other stakeholders in the expectation that corporate objectives will be met or surpassed. A typical example of this type of model is where quality of product or service leads to customer satisfaction, which leads to customer loyalty, which leads to profitability. The service quality model A model by Kaj Storbacka, Tore Strandvik, and Christian Grönroos (1994), the service quality model, is more detailed than the basic loyalty business model but arrives at the same conclusion. In it, customer satisfaction is first based on a recent experience of the product or service. This assessment depends on prior expectations of overall quality compared to the actual performance received. If the recent experience exceeds prior expectations, customer satisfaction is likely to be high. Customer satisfaction can also be high even ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Marketing
Marketing is the act of acquiring, satisfying and retaining customers. It is one of the primary components of Business administration, business management and commerce. Marketing is usually conducted by the seller, typically a retailer or manufacturer. Products can be marketed to other businesses (B2B Marketing, B2B) or directly to consumers (B2C). Sometimes tasks are contracted to dedicated marketing firms, like a Media agency, media, market research, or advertising agency. Sometimes, a trade association or government agency (such as the Agricultural Marketing Service) advertises on behalf of an entire industry or locality, often a specific type of food (e.g. Got Milk?), food from a specific area, or a city or region as a tourism destination. Market orientations are philosophies concerning the factors that should go into market planning. The marketing mix, which outlines the specifics of the product and how it will be sold, including the channels that will be used to adverti ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Customer Relationship Management
Customer relationship management (CRM) is a strategic process that organizations use to manage, analyze, and improve their interactions with customers. By leveraging data-driven insights, CRM helps businesses optimize communication, enhance customer satisfaction, and drive sustainable growth. CRM systems compile data from a range of different communication channels, including a company's website, telephone (which many services come with a softphone), email, live chat, marketing materials and more recently, social media. They allow businesses to learn more about their target audiences and how to better cater to their needs, thus retaining customers and driving sales growth. CRM may be used with past, present or potential customers. The concepts, procedures, and rules that a corporation follows when communicating with its consumers are referred to as CRM. This complete connection covers direct contact with customers, such as sales and service-related operations, forecasting, ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Harvard Business School Press
Harvard Business Publishing (HBP) is a publisher founded in 1994 as a not-for-profit, independent corporation and an affiliate of Harvard Business School (distinct from Harvard University Press), with a focus on improving business management practices. The company offers articles, books, case studies, simulations, videos, learning programs, and digital tools to organizations and subscribers. HBP consists of three market units: Education and Corporate Learning (under the Harvard Business Impact brand) and Harvard Business Review Group. Their offering consists of print and digital media (''Harvard Business Review'', Harvard Business Review Press books, Harvard Business School and other licensed cases), events, digital learning (Harvard ManageMentor, HMM Spark), blended learning, and campus experiences. References External links Harvard Business PublishingHarvard Business ReviewHarvard Business Publishing EducationHarvard Business Publishing Corporate LearningCore Curriculum Rea ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Business Books
Business is the practice of making one's living or making money by producing or buying and selling products (such as goods and services). It is also "any activity or enterprise entered into for profit." A business entity is not necessarily separate from the owner and the creditors can hold the owner liable for debts the business has acquired except for limited liability company. The taxation system for businesses is different from that of the corporates. A business structure does not allow for corporate tax rates. The proprietor is personally taxed on all income from the business. A distinction is made in law and public offices between the term business and a company (such as a corporation or cooperative). Colloquially, the terms are used interchangeably. Corporations are distinct from sole proprietors and partnerships. Corporations are separate and unique legal entities from their shareholders; as such they provide limited liability for their owners and members. Corpora ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
1996 Non-fiction Books
1996 was designated as: * International Year for the Eradication of Poverty Events January * January 8 – A Zairean cargo plane 1996 Air Africa crash, crashes into a crowded market in the center of the capital city of the Democratic Republic of the Congo, Kinshasa, killing around 300 people. * January 9–January 20, 20 – Serious fighting breaks out between Russian soldiers and rebel fighters in Chechnya. * January 11 – Ryutaro Hashimoto, leader of the Liberal Democratic Party (Japan), Liberal Democratic Party, becomes Prime Minister of Japan. * January 13 – Prime Minister of Italy, Italy's Prime Minister, Lamberto Dini, resigns after the failure of all-party talks to confirm him. New talks are initiated by President Oscar Luigi Scalfaro to form a new government. * January 14 – Jorge Sampaio is elected President of Portugal. * January 16 – President of Sierra Leone Valentine Strasser is deposed by the chief of defence, Julius Maada Bio. B ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
