Building Customer Loyalty and Competitor Analysis

Abstract

With increasingly fierce business competition, building customer loyalty and conducting competitor analysis are crucial factors for company success. Customer loyalty is influenced by product or service quality, competitive pricing, customer experience, trust, satisfaction, and attractive loyalty programs. This study aims to identify factors influencing customer loyalty, explore ways to create customer experiences that support long-term loyalty, and analyze effective strategies for understanding competitors. This study used qualitative descriptive methods to understand the factors influencing customer loyalty and competitor analysis strategies. The results of the analysis indicate that personalized customer experiences, consistent service, product innovation, and providing added value play a significant role in strengthening customer relationships with a company. Furthermore, competitor analysis, such as evaluating competitors' products, marketing strategies, and financial strength, enables companies to effectively capitalize on market opportunities. This research provides theoretical contributions to the development of the concepts of customer loyalty and competitor analysis, as well as practical benefits in the form of implementation strategies that can enhance a company's competitiveness in a dynamic market.