The aim of this thesis is to increase the understanding of how to create customer loyalty within the perspective of contemporary consumerism. While the theoretical fields of both marketing management and consumer behaviour have been thoroughly researched by scholars, and the scholars agree that true value and customer loyalty are created in the interaction between the companies and the modern consumers, the fields still lack a common understanding of how this is achieved. Based on secondary data this thesis is a conceptual study, which seeks to bridge the paradigms: Marketing Management, Customer Behaviour and Social Psychology, in order to enlighten the ways of how to create consumer loyalty within Contemporary Consumerism. The methodology is found in the article “A plea for Mechanisms” (Elster, 1998), which aims at explaining how to use mechanisms to explore any particular field of research. The working hypothesis in this thesis is that companies in their customer analysis should include important underlying psychological mechanisms. By doing so, they can better understand how to interact with their customers, and thereby create customer loyalty and satisfaction in today’s complex B2C – Business to Consumer – market. The result is a new model that in three phases provides a new approach to how customer loyalty is created. The findings indicate that one can question the possibility of creating customer loyalty. Modern consumers’ demand for value is so high that companies struggle to create this level of perceived value. This leads to companies struggling also with creating a sustainable competitive advantage in the B2C market. The framework constructed in this thesis shows that in order to maintain a sustainable profit, companies must not only focus on customers with true loyalty, but also adapt their approach to customers with all levels of loyalty and satisfaction. This can create a competitive advantage, because this process generates knowledge about the customers, which then enables future growth. By using the framework companies can better maintain and develop their interactions with customers based on the tendencies in the B2C market, and thereby meeting and exceeding the demands and expectations of modern consumers. True loyalty is not a goal in itself – true loyalty is yet another tool to ensure a company’s future growth and development.
|Educations||MSc in Psychology, (Graduate Programme) Final Thesis|
|Number of pages||92|