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The current dynamics in which the industry is operating is very complex and competition is also increasing at a rapid pace which makes it important for the company to continuously innovate themselves or develop themselves, however above is one of the major elements which is given an utmost priority that is through building the customer base which is loyal towards their company and brand. Creating loyal customers will not only make them more competitive but will also help them in achieving their long-term goals. Apart from that, it has been seen that loyal customers are the major reason behind that success of the company. The company is using a lot of techniques and methods so that they can create a loyal customer base that does not get influenced if the company/brand makes any change to the product or the price. However, the most important techniques that have been used by the company to create a loyal customer base are adopting the CRM strategies, analyzing the consumer behavior, aiming at customer satisfaction and lastly, effective communication channels have been found quite effective for creating the loyal customers.

Q1. Does adopting CRM strategies can help the organization in increasing customer loyalty?

Scholars believe that customer satisfaction and customer loyalty are intervened with each other's it has been found that customer loyalty is one of the major reasons behind sustaining the business. It has been found that business sector progress as well as the success depends on the loyal customer base. The business sector has given a lot of priority to the customers rather than just focus on just making a profit. Customer satisfaction is considered an important element for future growth and it is equally important for creating a loyal customer (Möller, 2010). That is why the company aims to make sure that they can fulfill the needs of the customers and the expectation so that they can achieve customer satisfaction, this will ultimately help the company in building a strong customer base. The competitive environment is very prominent in the industry which pressurizes the company to focus on customer satisfaction as loyal customers can only help them in getting an edge over the others. Loyal customer base and excellent services are the main foundation and long-term vision of the company to achieve through customer satisfaction (Möller, 2010).

Q4. How will effective marketing communication help them in broadening their customer base?

References

Oke, A., 2017. Consumer Behavior towards Decision Making and Loyalty to Particular Brands. International Review of Management and Marketing,.