There are different reasons of introducing the loyalty programs by stores. Uncles (2003) proposed two aims of customer loyalty programs. First is making a better relationship between the store and customer. So this is beneficial to sustain the current customer base in good position. The second aim is to rise a revenue by increasing purchase levels.
The study also looked into store loyalty in a holistic manner, incorporating factors like service quality, location factors, value perception and store image. It was revealed that loyal customers did not look for variety of merchandise at the store of their choice. Loyal customers went to the store they patronized with a very specific requirement which they intended to get at the store. Mall loyalty influenced by the accessibility and mall ambience, merchandise quality and price-quality. Value perceptions have a positive effect on the building overall store impression.
Brand loyal consumers reduce the marketing cost of the firm as the cost of attracting a new customer (Levins, 2009) . Brand loyal consumers are willing to pay higher prices and are less price sensitive (Reichheld and Sasser, 1990) .Brand loyal also provides the firm with trade leverage and valuable time to respond to competitive moves (Aaker,1991) . The following are the most common benefits from brand loyalty. 3.6.1 Higher sales Volume The average company loses half of its customers every five years, equating to a 13% annual loss of customers. This statistic illustrates the challenges companies face when trying to grow in competitive environments.
Therefore this research in the footwear industry tries to find out how customers reaction will be by an increase of price. When customer loyalty has built it is widely known that companies on the other hand can often charge more for their products and services to their loyal
Implications of the Study Brand loyalty is an important concept which is eagerly noticed by manufacturers, marketers, and buyers. Since, brand loyalty indicates the close associations between the product and the users, it is essential to study the brand loyalty. Packaged food market is highly competitive which has enormous number of varieties. Hence, it is indispensable to study brand loyalty of consumer packaged food category. Though these types of studies customer brand desires can be identified.
The more they buy, the more you flourish in your retail business. 2. Product awareness - With the introduction of the loyalty card, you can know their personal contact details like - phone number, email ID etc. So, whenever you are to announce any discounts or promotional voucher, you can directly target
Purpose or Thesis Statement Although, retail is a competitive business, quality customer service is vital to its success, therefore, if you are an aggressive enterprising person with business agility and desire to show homage to God through understanding and integrity in this business, Retail/Customer Service can be a good fit for you. V. Preview Statement In the speech to follow, I will explain retail/customer service, by first indicating the foundation and need for customer loyalty, second, defining retail and customer service and third, demonstrating how retail customer service provides favorable chances to connect with customers and clients by utilizing Godly values that conform to scripture. Transition: Let’s consider the fundamental objective
more to get a small gift. Loyalty can be easily judged by the customer’s behavior. Customer behavior shows that which product is frequently purchased by the customer and why? It also give clear hint on which product they need to focus more and why? There are three main factor which can increase customer loyalty.
CHAPTER ONE: INTRODUCTION Background of the study The impact of customer services is huge on customer satisfaction and loyalty. In order to understand these factors we need to explain the key words and their meanings. Customer satisfaction in other words emphasis on the high quality relationship with the customer, which in turn determines the satisfaction and loyalty of customer for services provider .The most important goal and objective of any organization is customer satisfaction and retention in long term attainment of the goal. Customer retention cost less than that of attracting new customer. A famous marketing theory of
Each of the building blocks suggests some kind of relationship in customer loyalty which would be discussed in detail in the dissertation of this study. Theoretical Framework for Customer Engagement Source - Yoo, & Bai, 2013 The theoretical framework chosen for customer engagement focuses on the diverse areas of how customers engage with a brand based on their needs. Currently, customers do not go for brands, they are more prone to having their needs fulfilled even if it means shopping from a brand that they are barely aware of (Yoo, & Bai, 2013). The above framework reveals the three sides of consumer engagement which are antecedents of customer engagement, the central aspect, and consequences of having customer engagement (Dawson, 2012). Major Themes Target Marketing An objective business sector is a gathering of clients a business has chosen to point its promoting endeavours and at last its stock towards (Wilder, Collier, & Barnes, 2014).