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 friendship, loyalty is also needed because you can always count on that person once he is loyal. Whenever you have problems in life and struggles to encounter, you are assured that there is somebody to turn to for comfort. Loyalty is also important in any business. Customer loyalty helps in building satisfaction and trust toward your service and products.