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.
In the end, your customerâs loyalty can be difficult to define and difficult to measure. On a theoretical level, they either did something else with the money or they spent it with a competitor. That simple.