Customer Loyalty in Consumer Durable Products

Customer Loyalty
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vaibhav deshpande
Manager, India

Customer Loyalty in Consumer Durable Products

Being an MBA student, I'm doing a project on "customer loyalty related to consumer durable products".
So I want to ask you which parameters I should focus on and other tips? Plz suggest me.. Thanks..

  Laursen
Manager, Denmark
 

Net Promoter Score (NPS)

Look at the Net Promoter Score.
NPS is the percentage of customers rating their likelihood to recommend a company, a product, or a service to a friend or colleague as 9 or 10 ("promoters") minus the percentage rating this at 6 or below ("detractors") on a scale from 0 to 10. Respondents who provide a score of 7 or 8 are referred to as "passives" and do not enter into the overall percentage calculation. The result of the calculation is expressed without the percentage sign.

It is a management tool used as a measure of customer satisfaction and has been shown to correlate with revenue growth relative to competitors.[NPS has been adopted by many large companies and other organizations. Companies, employers, or other bodies ask the questions of customer, employee, or other respondents such as resellers, implementation partners, and suppliers. NPS ranges between −100 (all respondents are "detractors") and +100 (all respondents are "promoters"). Scores vary substantially between industries, so a good score is simply one whose trend is better than that of competitors in the same industry, as measured by double-blind benchmark research.

The metric was developed by (and is a registered trademark of) Fred Reichheld, Bain & Company and Satmetrix. It was introduced by Reichheld in his 2003 Harvard Business Review article, "The One Number You Need to Grow". Its popularity and broad use have been attributed to its simplicity and its openly available methodology.

  vaibhav deshpande
Manager, India
 

Net Promoter Score

Thanks Mr. Laursen... (...)

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