Abstract
Customers are more demanding than ever. Creating superior customer experience is crucial in gaining competitive advantage in any business environment.Companies need to have a well-defined customer experience management strategy to determine a place in the competitive world. Customer Experience Management has gained importance in recent years. As companies are faced with the issues like decreasing customer loyalty, reduced scope of differentiation through product features, and with increasing costs of customer acquisition, it has become immensely important for companies to practice experience based differentiation in every stage of customer interaction. This paper focuses on the various aspects that impact customer experience and its impact on customer loyalty.
Highlights
In recent times, the differentiation created based on goods and services is not applicable, so the organizations are in an urge to adapt to new distinguishing factors that cannot be imitated by the industry competitors
Customer experience creates a distinctive value to the customer that is very difficult to be imitated by competitors, and provide a strong effect on loyalty and recommendations behavior of the consumers (Berry et al (2002) ; Pine & Gilmore, 1999)
Customer Experience Management The internal, subjective and emotional response, a customer have from interactions with a product, a company, or part of its organization (Clark, and Wilson 2011; Verhoef et al 2009; Zomerdijk and Voss 2010).The complete interactions that a customer has with a company
Summary
The differentiation created based on goods and services is not applicable, so the organizations are in an urge to adapt to new distinguishing factors that cannot be imitated by the industry competitors. The one way of distinguishing an organization from another is by creating customer experience. Experience occurs when a company uses its services as a mean of delivering products and goods to bond individual customers. Creating competitive advantage by building a delightful customer experience is the most powerful marketing strategy today to increase loyalty of the customer. Customer experience creates a distinctive value to the customer that is very difficult to be imitated by competitors, and provide a strong effect on loyalty and recommendations behavior of the consumers (Berry et al (2002) ; Pine & Gilmore, 1999). Customer Experience Management The internal, subjective and emotional response, a customer have from interactions with a product, a company, or part of its organization (Clark, and Wilson 2011; Verhoef et al 2009; Zomerdijk and Voss 2010).The complete interactions that a customer has with a company
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