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Many Business's have recognised the importance of customer loyalty such as Tesco’s who have the ‘loyalty card’ whereby customers who consistently use their card are rewarded; this will help in building a ‘long term’ relationship.
As Doyle and Stern state relationship marketing is a long term, continuous series of transactions between parties. In today’s environment forward thinking organisations are realising “the annual profits generated from a customer who has been with a company for seven years are typically more than five times the amount it generates in the first year” (Doyle Stern)...
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