Funder Mifflin Inc.: Strategy Composition

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Strategy Composition

It is important for us as a company to go back and look at what customer loyalty can mean to a company and also to Funder Mifflin Inc. In the discussion below I will go over different items that can affect customer loyalty and/or how they relate to each other. I will discuss how MySpace lost some of their customer loyalty and what they are now trying to do to gain it back. I will conclude with some recommendations on how to retain customer loyalty and how Funder Mifflin Inc. will try to retain their customer loyalty.

MySpace Customer Loyalty
MySpace suffered a great loss in customer attrition when other social networking sites like Facebook came into the picture. MySpace decided to re-launch their brand in 2010. They wanted to start a new strategic marketing campaign. They needed to revamp their plan because they were losing customers left and right to their competitors. They decided that they needed to improve their customer experience by removing a lot of the advertisement they currently had running on their site. They also wanted to turn their focus to their user's interest, music trends and also entertainment trends. They decided that it would be more beneficial for them to make content sharing their central feature. They also wanted to change their look and differentiate themselves from their competitors by focusing on music. They decided that they were going to have to link themselves to other online community portals. This meant they were going to allow the sharing of tracks and videos using Facebook, etc. This is how they are going to create more customer loyalty by using their key resources which is their users to direct them into the direction they need to go with their social networking site. If you focus on what the user's want you will have more customer loyalty.

Customer Loyalty and the Competitive ...