BUILDING CUSTOMER LOYALTY THROUGH CUSTOMER EXPERIENCE MANAGEMENT

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 custom er 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.