ISES academic director Marcus Lee warned that, for companies relying on price cuts rather than quality improvements, with perceived value up and price tolerance down year on year, they could be caught in a precarious position as their customers might be conditioned to expect frequent price promotions. To consistently meet customers' expectations and deepen customer loyalty , ISES director Caroline Lim suggested that some basic research to gain insights into customers' preferences and behavior would be needed.
The Business Times