Business Research Essay Example | Topics and Well Written Essays - 3500 words

Business Research - Essay Example Hence this research might help in putting a full stop to the ongoing debate about the dynamics of customer loyalty and providing analysts and corporate office-holders a clear and utilizable understanding of the aspects of customer loyalty that are relevant to any organization’s fundamental orientation. Relevance of the Research Sustainability is without doubt the most popular buzzword in some of the largest academic and industrial circles of today. These circles include the energy industrial sector, life sciences and social welfare work among others (Wheeler, Colbert, and Freeman, 2003). However, relevant to the field of the researcher is the concept of sustainability of a corporation or an organization in its field or business environment. Quite obviously the medium any for-profit organization has to sustain itself in is most usually its ‘market’. There has been an abundance of research studies into the understanding and achievement of some degrees of market sust ainability. One of the largest factors affecting market sustainability of any business enterprise is said to be the identification of the customers of the enterprise to it. Hence customer loyalty is key in moving closer to the ideal of market sustainability. This research will look into how customers help the organizations by persisting with them, in terms of the different impetuses for persisting and their consequences for the organizations. While because of its scope the research will use for a model the furniture company IKEA, it is to be focused on the various aspects of customer loyalty in general. According to Dick and Basu (1994), customer loyalty is the single most important factor in determining the stability in an unstable market of any business. Because the target of the research unintentionally implies furthering the business fraternity’s efforts of building customer loyalty, it will hopefully be useful for, apart from students and business operators, inquisitive customers as well. Literature Review A review of the formal academic literature regarding the issue of customer loyalty found that while there was a lot of research into the causes and effects of customer loyalty in forms of comparative analyses, quantitative studies and case studies, all the studies seem to be targeting a specific facet of the broad phenomenon of customer loyalty. There is no major research that links holistically the various sources and types of customer loyalty to a corporation’s fortunes or studies the nature of the implications of each of the major forms of customer loyalty. But there are studies like Kuusik’s (2007) that take customer loyalty as a single metric instead of considering the forms and impacts of customer loyalty and investigate the sources of and factors affecting the said metric in good detail. However the most relevant published work with regard to this research proposal is a 2003 article by D. L. Duffy titled â€Å"Internal and e xternal factors which affect customer loyalty†, who realized that the contributing factors of customer loya