BANKING BUSINESS MODEL SPECIFICATIONS

May 29th, 2015
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Alcorn State University
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Loyalty business model From Wikipedia, the free encyclopedia The loyalty business model is a business model used in strategic management in which company 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: quality of product or service leads to customer satisfaction, which leads to customer loyalty, which leads to profitability.

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Loyalty business modelFrom Wikipedia, the free encyclopediaThe loyalty business model is a business model used in strategic management in which company 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: quality of product or service leads to customer satisfaction, which leads to customer loyalty, which leads to profitability.Contents[hide]1 The service quality model2 Expanded models3 Data collection4 See also5 References[edit] The service quality modelA model by Kaj Storbacka, Tore Strandvik, and Christian Grnroos (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 with mediocre performance quality if the

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