The word cooperative is also used to describe a non-share capital co-op model in which fee-paying members obtain the right to occupy a bedroom and share the communal resources of a house that is owned by a cooperative organization.
Definition of customer loyalty. Customer loyalty can be said to have occurred if people choose to use a particular shop or buy one particular product, rather than use other shops or buy products made by other companies.
Many companies today claim that they are âcustomer obsessed.â But if we really think about it, most of these companies are not customer centric yet. Customer obsession means constantly listening to customers, and then continuously testing, enhancing, and personalizing the customer experience. For the most part, companies are marketing obsessed, not customer obsessed.