DOES LOYALTY PROGRAMS INCULCATE LOYALTY ?
I did this research with the aim to find that “Do Loyalty Programinculcate Loyalty amongst customers in Retail?” There were many other questions which were to be answered such as ‘Is loyalty greater than loyalty card or viceversa’, ‘Does loyalty programs really works’ etc. I did a survey to findrelationship between loyalty programs and customer loyalty.
The scope includes
• Find whether loyalty program add value to customers.
• Find whether the choice of place/brand driven by the loyalty
card the customer is holding.
• Find what percentages of customers who shop in modern
retail patronize a loyalty program.
• Find what the key ingredients of good loyalty program are?
The outcomes ofthe research showed that there are many factors of a loyalty program which hasan impact on customer loyalty. These factors include discounts, special offers,updates etc. Since customer loyalty is highly dependent on each buyer’sindividual perception, hence these are some factors which have greater influenceon wider consumer base. Acceptability of a loyaltyprogram by the consumer population has been a major issue. Hence these factorsif included in the loyalty program may increase its degree of success.
Ultimately, thesuccess of loyalty programs depends on how well the business uses the data itgathers to further refine its policies and loyalty programs. Many businessesfind little profit in the use of loyalty programs, while others attribute muchof their financial success to a well-executed use of such programs.