The Six Ps of Creating Lasting, Profitable Customer Loyalty in Highly Competitive Markets

by Stephen Drees

Unfortunately, many companies see the creation of a loyalty program as the panacea for endemic customer turnover, churn, and dissatisfaction. This wish couldn't be further from the reality of what a program can reasonably be expected to achieve. The truth is, a loyalty program—no matter how well executed—can't overcome a company's inability to execute consistently on the four Ps of marketing: product, price, place, and promotion. That is why, in this new customer-centric environment, companies should add two more Ps to their marketing mix to effectively engender customer loyalty.... ... cont'd

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