Best in Brief: Marketing's Holy Grail

This summary of a piece in McInsey Quarterly describes six different customer loyalty profiles and says that three basic customer attitudes underline these - emotive, inertial and deliberative.

Best in Brief: Marketing's Holy Grail

(McKinsey Quarterly)

Stephanie CoylesandTimothy C Gokey

Douglas West Professor of Marketing at the University of Westminster, provides a brief summary of this article.

Customers who change their buying patterns are far more of a problem than those who defect. By focusing on smaller changes in customer spending, rather than defection alone, firms can realise up to ten times more value. The reality is that many more customers change their spending behaviour than defect. For example, at one bank 5% of customers defected annually, taking 3% of its balances. However, every year...

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