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Customer loyalty and customer satisfaction aren't the same thing, which means your business should be measuring both. But one should take precedence over the other -- and we'll teach you how to figure out which one. Customer satisfaction is a measurement of a customer's attitude toward a product, a service, or a brand. It's usually measured by a customer satisfaction survey on a numerical scale. Customer loyalty is a set of behaviors and attitudes that a customer exhibits that demonstrate loyalty to a product, service, or brand, such as repeat purchases or choosing the brand over a competitor.
Read more ...The COVID-19 pandemic has had a significant impact on the airline industry due to travel restrictions and a decimation in demand among travelers. In its initial days, airline companies struggled with rising operating costs, as well as global flight cancellations and delays catering to passengers who wanted to leave the country. The rising cost of fuel has put pressure on airlines, with more flights cancelled and fewer planes being flown. This has led to significant reductions in passenger numbers and revenues across the market. Airlines have laid off employees and actions taken by airlines have made them appear to be “greedy” or “unreasonable” by those that do not fly as often or may be unable to pay the amount of taxes levied by government agencies.
Read more ...Pricing can make or break a business, as it directly impacts profitability and customer perception. But fear not! In this blog post, we will guide you through the intricacies of pricing and provide valuable insights on how to develop an effective pricing strategy. We'll delve into factors to consider before setting a price, different pricing strategies available to you, conducting market research and analysis, calculating costs and profit margins, adjusting prices over time, and even share some tips for mastering the art of effective pricing. Here's your chance to dive into the fascinating world of pricing strategy. Let's discover how to maximize profits while satisfying your customers!
Read more ...Reputation is a powerful tool, and every brand that wants to remain relevant will develop a reputation. A brand reputation is an extremely fragile concept. As Warren Buffett said, “It takes 20 years to build a reputation and five minutes to ruin it.” We all make mistakes, and even some of the greatest and most popular brands have had their own share of disasters, with Volkswagen’s cheating on emission tests, as well as the Coca Cola’s MagiCan campaign are just two that come to mind. Despite suffering significant reputational setbacks, these companies managed to put things straight. Of course, this process can be more challenging for smaller brands but with a good strategy, it’s possible to fix your brand reputation.
Read more ...The cloud is a place where data can be stored and handled. It can be accessed from any device and does not require an active connectivity to the Internet. With the help of cloud computing, businesses and individuals can work at any time in the manner that suits them best
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