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.
A person who feels loyalty to a nation, cause, or person feels a sense of allegiance, commitment, dedication toward them. Loyalty is â you guessed it! â the quality of being loyal. People demonstrate their loyalty to a sports team by cheering for it, win or lose. People demonstrate their loyalty to a political party by voting only for the people of that party. Brand loyalty is the notion (or hope) that once consumers identify strongly with a particular brand or product, like a car or computer, they'll stick with that brand or maker when it comes time to buy new products.