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.
Loyal customers provide honest, quality feedback. Feedback is crucial to know where and how to improve. Loyal customers, they love your brand. They wouldnât hesitate or be shy to provide their honest feedback, especially negative ones as they want to see your brand thrive and serve them better.