Managing and rewarding customer loyalty

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Introduction This case study focuses on the way in which Britannia Building Society has continued to place its customers at the centre of all its activities in order to produce the benefits that guarantee a successful future. Britannia is one of this country’s leading financial services organisations with a strongcompetitive advantage from its ‘Mutual’ organisational structure which provides anunbeatable link with its customers – because its owners (members) are its customers. Today modern organisations must pay close attention to the 3 C’s which are the basic facts of life of business success – namely customers, competition and costs. Customers provide organisations with their basic needs through the sales which the organisation is able to make to contented customers. Competitors provide organisations with a spur to efficiency. No company will be successful unless it can stay ahead of its competitors. Costs are the driving force that determine profitability. Successful companies must continually seek new ways of keeping costs down whilst at the same time giving better value to customers. The age of the consumer When a firm produces goods or services it must make sure that it genuinely meets consumer needs. A business is unlikely to be successful if it tries…

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