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Author: Valeria Stourm
Publisher:
ISBN:
Category :
Languages : en
Pages : 198
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Book Description
In a standard loyalty program, a single retailer offers rewards to customers who stockpile points up to a certain amount. While research on these archetypal loyalty programs is vast, there is an increasing trend for companies to adopt reward programs that do not explicitly incentivize customers to return in order to "cash-in" rewards. Two examples are linear and coalition reward programs. In a linear program, points can be redeemed at anytime for any amount. In a coalition program, points can be earned and redeemed across several partner retail stores. A chapter titled "Stockpiling Points in Linear Loyalty Programs," uses transaction data from a linear loyalty program in Latin America to examine why customers tend to stockpile points for long periods of time, despite economic incentives against doing so (i.e., time value of money). A mathematical model of redemption choice posits three explanations for why customers seem to be motivated to stockpile on their own, even though the retailer does not reward them for doing so: economic (value of forgone points), cognitive (nonmonetary transaction costs), and psychological. The psychological motivation is captured by allowing customers to book cash and point transactions in separate mental accounts. The results indicate substantial heterogeneity in how customers are motivated to redeem and suggest that behavior in the data is driven mostly by cognitive and psychological incentives. A chapter titled "Market positioning in a coalition loyalty program: the value of a shared reward currency" uses a model of multi-store purchase incidence to infer the market positioning among popular partners of a coalition loyalty program. The model shows how the value of a rewards currency that is shared among partner stores can explain patterns in customer-level purchases across the stores, and how these reward spillovers are driven by (1) differences in reward redemption policies among the partners, (2) product category overlap between stores and (3) geographic distance between them. By leveraging a devaluation of the program's points that occurred in our observation period, we demonstrate how the value of coalition points influences the positioning of partner stores within the network.
Author: Valeria Stourm
Publisher:
ISBN:
Category :
Languages : en
Pages : 198
Get Book Here
Book Description
In a standard loyalty program, a single retailer offers rewards to customers who stockpile points up to a certain amount. While research on these archetypal loyalty programs is vast, there is an increasing trend for companies to adopt reward programs that do not explicitly incentivize customers to return in order to "cash-in" rewards. Two examples are linear and coalition reward programs. In a linear program, points can be redeemed at anytime for any amount. In a coalition program, points can be earned and redeemed across several partner retail stores. A chapter titled "Stockpiling Points in Linear Loyalty Programs," uses transaction data from a linear loyalty program in Latin America to examine why customers tend to stockpile points for long periods of time, despite economic incentives against doing so (i.e., time value of money). A mathematical model of redemption choice posits three explanations for why customers seem to be motivated to stockpile on their own, even though the retailer does not reward them for doing so: economic (value of forgone points), cognitive (nonmonetary transaction costs), and psychological. The psychological motivation is captured by allowing customers to book cash and point transactions in separate mental accounts. The results indicate substantial heterogeneity in how customers are motivated to redeem and suggest that behavior in the data is driven mostly by cognitive and psychological incentives. A chapter titled "Market positioning in a coalition loyalty program: the value of a shared reward currency" uses a model of multi-store purchase incidence to infer the market positioning among popular partners of a coalition loyalty program. The model shows how the value of a rewards currency that is shared among partner stores can explain patterns in customer-level purchases across the stores, and how these reward spillovers are driven by (1) differences in reward redemption policies among the partners, (2) product category overlap between stores and (3) geographic distance between them. By leveraging a devaluation of the program's points that occurred in our observation period, we demonstrate how the value of coalition points influences the positioning of partner stores within the network.
Author: Gerard Blokdijk
Publisher: Complete Publishing
ISBN: 9781488898334
Category : Reference
Languages : en
Pages : 174
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Book Description
The one-stop-source powering Customer Loyalty success, jam-packed with ready to use insights for results, loaded with all the data you need to decide how to gain and move ahead. Based on extensive research, this lays out the thinking of the most successful Customer Loyalty knowledge experts, those who are adept at continually innovating and seeing opportunities. This is the first place to go for Customer Loyalty innovation - INCLUDED are numerous real-world Customer Loyalty blueprints, presentations and templates ready for you to access and use. Also, if you are looking for answers to one or more of these questions then THIS is the title for you: What Impacts Customer Loyalty? Do customer loyalty programs really work? Is customer loyalty decreasing? What is next for customer loyalty programmes? How big is the customer loyalty market? Which websites have the best online customer loyalty programs? Why is customer loyalty important? What's a good customer loyalty program business model? How do customer loyalty programs work? ...and much more...
Author: Berend Wierenga
Publisher: Springer Science & Business Media
ISBN: 0387782133
Category : Business & Economics
Languages : en
Pages : 621
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Book Description
Marketing models is a core component of the marketing discipline. The recent developments in marketing models have been incredibly fast with information technology (e.g., the Internet), online marketing (e-commerce) and customer relationship management (CRM) creating radical changes in the way companies interact with their customers. This has created completely new breeds of marketing models, but major progress has also taken place in existing types of marketing models. Handbook of Marketing Decision Models presents the state of the art in marketing decision models. The book deals with new modeling areas, such as customer relationship management, customer value and online marketing, as well as recent developments in other advertising, sales promotions, sales management, and competition are dealt with. New developments are in consumer decision models, models for return on marketing, marketing management support systems, and in special techniques such as time series and neural nets.
Author: ACNielsen
Publisher: John Wiley & Sons
ISBN: 1118429109
Category : Business & Economics
Languages : en
Pages : 373
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Book Description
In some parts of the world, especially in developing markets, category management today remains a stretch goal – a new idea full of untapped potential. In other areas, the original eight-step process that emerged in the late 1980’s forms the foundation of many companies’ approach to category management. In still others, particularly in developed countries like the U.S., the U.K., and others, refinements are being made – most of them designed to place consumer understanding front and center. New ideas are emerging – from "trip management" to "aisle management" to "customer management." Whether a new descriptor emerges to replace "category management" is yet to be seen. Even if that does happen, what won’t change is the overall objective – to help retailers and their manufacturer partners succeed by offering the right selection of products that are marketed and merchandised based on a complete understanding of the consumers they are committed to serving. This book, which explores both the state of and the state-of-the-art in category management, is for everyone with a vested interest in category management. It can serve such a broad audience because category management is about bringing a structured process to how executives think and make decisions about their businesses, no matter what information and information technology they have access to.
Author: ACNielsen
Publisher: John Wiley & Sons
ISBN: 0471703591
Category : Business & Economics
Languages : en
Pages : 373
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Book Description
In some parts of the world, especially in developing markets, category management today remains a stretch goal – a new idea full of untapped potential. In other areas, the original eight-step process that emerged in the late 1980’s forms the foundation of many companies’ approach to category management. In still others, particularly in developed countries like the U.S., the U.K., and others, refinements are being made – most of them designed to place consumer understanding front and center. New ideas are emerging – from "trip management" to "aisle management" to "customer management." Whether a new descriptor emerges to replace "category management" is yet to be seen. Even if that does happen, what won’t change is the overall objective – to help retailers and their manufacturer partners succeed by offering the right selection of products that are marketed and merchandised based on a complete understanding of the consumers they are committed to serving. This book, which explores both the state of and the state-of-the-art in category management, is for everyone with a vested interest in category management. It can serve such a broad audience because category management is about bringing a structured process to how executives think and make decisions about their businesses, no matter what information and information technology they have access to.
Author: Naresh K Malhotra
Publisher: World Scientific
ISBN: 1944659730
Category : Business & Economics
Languages : en
Pages : 371
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Book Description
'Put this on your bookshelf and in your classroom! This is a comprehensive guide to understanding and managing customer relationships from two top scholars and educators.'Dr Linda L PriceUniversity of Wyoming, andEditor, Journal of Consumer ResearchCustomer relationship marketing (CRM) opportunities are embedded in the entire customer journey spanning several touch points across all stages including prepurchase, purchase, and postpurchase stage. Customer relationship marketing evolved from traditional marketing concept and has broadened its scope today, intersecting with the following domains, namely customer buying behavior process models, customer satisfaction and loyalty, service quality, customer relationship management tools and strategies, customer centricity, and customer engagement activities. A comprehensive, state-of-the-art textbook, Customer Relationship Marketing: Theoretical and Managerial Perspectives is organized as follows:
Author: David Eshun Yawson
Publisher: Springer Nature
ISBN: 3031116615
Category : Business & Economics
Languages : en
Pages : 247
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Book Description
This book highlights the development of retail marketing in developing economies and presents this sector as a major area of growth and business opportunity. With a special focus on supermarket chains, the authors show that the advancement of technology and infrastructure means that there are now increased electronic capabilities for data collection, giving retailers more opportunities to pursue micro and macro-marketing strategies. The authors explain the evolution of this new era of marketing and the associated impact on all stakeholders, especially consumers. Taking the example of Ghana, which is considered a leader among African nations in the use of loyalty cards, the authors are able to set a benchmark for other emerging countries, especially those that are experiencing similar trends. The book is a valuable resource for students, researchers and foreign companies wishing to expand their knowledge of the marketing strategies employed by emerging economies in Sub-Saharan Africa.
Author: Nicolas Hoffmann
Publisher: Forschungsergebnisse der Wirtschaftsuniversität Wien
ISBN: 9783631638804
Category : BUSINESS & ECONOMICS
Languages : en
Pages : 0
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Book Description
To test the impact of stand-alone vs. multi-partner programs on customer loyalty, management interviews were conducted and a survey with 1,150 German customers of two fuel station chains was carried out. Stand-alone programs were found to excel at generating behavioral and attitudinal loyalty, as well as positive word-of-mouth.
Author: Deborah Weinswig
Publisher: Kogan Page Publishers
ISBN: 1398609625
Category : Business & Economics
Languages : en
Pages : 321
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Book Description
Forge deeper and more meaningful connections with consumers and embrace the latest opportunities occurring across the physical and digital retail landscape to become more adaptable, resilient and successful. While change is a constant in retail, flux has accelerated in innovation, digital disruption and changing consumer demands and expectations. Written for both digital-first and physical retailers, Next Generation Retail describes how to respond to the needs and expectations of today's consumers and connect with Generations Z and Alpha in an authentic and relevant way. Highly practical in approach, it explores the latest opportunities and pitfalls to avoid for developments including the metaverse, livestream shopping, instant commerce, blockchain and non-fungible tokens (NFTs). Next Generation Retail also describes how to create compelling content and retail media to drive commerce and monetize data while maintaining customer trust. Featuring original research and interviews with top industry experts, it contains examples and case studies from a range of brands and organizations including Lancôme, Burberry and Walmart. This is an essential resource for retailers of all sizes to adapt to and thrive in today's environment of breakneck change and innovation.
Author: Nadda, Vipin
Publisher: IGI Global
ISBN: 1522522077
Category : Business & Economics
Languages : en
Pages : 446
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Book Description
Continuous improvements in emerging economies have created more opportunities for industrialization and rapid growth. This not only leads to higher standards in accounting and security regulations, but it increases the overall marketing efficiency. Promotional Strategies and New Service Opportunities in Emerging Economies is a key resource in the field of service marketing and promotions, service innovations, and branding in developing countries. Highlighting multidisciplinary studies on self-service technologies, sustainable consumption, and customer relation management, this publication is an ideal reference source for policy makers, academicians, practitioners, researchers, students, marketers, and government officials actively involved in the services industry.
