Building a customer loyalty scheme via The Three Commitment Components Essay

Building a customer consignment scheme via The Three Commitment Components model for family-run Thai restaurants in London - Essay sampleThe latter trend has borne business ventures interest in fostering consumer loyalty, which is synonymous with consumer adherence to an establishments products and services, as opposed to shifting to alternative suppliers. Further, toleration of consumer loyalty has seen firms shift from the traditional marketing model that primarily targeted broadening of their consumer bases and enhancing profitability through increased sales volumes, toward marketing for loyalty. The widespread inclination is unmistakable from the increasing number of companies that are opting to formulate, implement, assess and improve loyalty strategies or programmes meant to develop stable relations with customers. This paper seeks to provide insight into how the three commission component model can be used to formulate loyalty programmes and consequently foster consumers loyalty to a family-run Thai restaurant based in London. Customer loyalty will enable the Thai restaurant to attain higher efficiency by streamlining operation strategies, providing customers with favorite meals or services, and incurring lower berth expenditure, while using three commitment component model-based programmes.Conventionally, firms utilized a loyalty strategy that sought to attract numerous customers, but not to oblige them in the long run. An excellent example of a traditional loyalty model is the behavioural approach, whereby firms take advantage of customers buying propensities to build a loyalty program. This translates to creation of slow point redemption of points or rewards by a customer after they use the establishments products or services for a while. Contrastingly, the three commitment component model encompasses three principal loyalty elements, that is, the affective, normative and continuance. The affective aspect represents elements that bind consumers willingly to a service provider. The