Customer Rentention Strategies Outdated!

In my opinion, there is no use for having customer retention strategies to compete in today's commercial world. The main reason for this could be the growing popularity of LPG  - Liberalization, Privatization & Globalization. When people travel across the borders, the buyer goes "global". Customer retention strategies were used before to sustain the customer seeking demand growth and maintaining the market share where organizations became unbalanced product or customer oriented to achieve this. Today, we see organizations adopting a balanced approach towards product & market orientation.

For Small & medium scale enterprises customer retention strategies becomes a close sunk costs; businesses need to spend money on promotional activities, discounting reduces the profit margin, actions leading to compete with market rivals needs additional costs. A loyal customer today is not the one who frequently buys the product from you, but loyalty customers shows their loyalty towards the brand, quality & price of the product. Customers today seek better quality, convenience shopping, latest trends, fashions & least likely they are attracted towards the lower price.