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Literature & Language
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English (U.S.)
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Topic:
LOYALTY PROGRAMS
Essay Instructions:
THE SAME WRITER THAT DID MY MGT 515 MODULE 1 SLP NEEDS TO CONTINUE THIS ASSIEMENT. ITS A CONTINUEATION.
SLP2's questions direct you to consider if your organization uses loyalty programs to gain a competitive advantage. As is shown in the background readings, a competitive advantage is something your company or organization is doing that other organizations or companies do not do.
In writing SLP2 begin the paper with the material presented in your SLP1 paper and any revisions you made based on the instructor?s feedback. The modular 2 component of SLP2 should be approximately 2 pages in length and needs to be added to the 2 pages you prepared for SLP1. The modular 2 component of the SLP will be reviewed, and assigned a letter grade. Remember the object of the SLP is to create a complete customer service audit by the end of the course.
Make sure you use section headings for the following Question/Issue: Write in a succinct, organized, and professional way. DO NOT USE ESSAY FORMAT.
Are customer LOYALTY PROGRAMS (including the use of credit as a type of customer loyalty program) at the company you are auditing used to meet the needs or requirements of its (served and/or prospective) target market(s)? If they are used, how are they used? If they are not used, should they be used? If they should be used, explain why they should be used. If they should not be used, explain why they should not be used.
Some of the above information may not be available. If the information is unavailable, make a note that you could not find the missing information and that a more complete audit will need to include that information. The missing information that should be included in a more complete audit will be included in your list of recommendations that you'll make at the end of your audit report. If you believe an issue addressed above does not apply to your organization (for example, there are no competitors) do not leave that issue un-addressed. State that ' The issue is not addressed because, ' then state why it is not addressed.
Please answer the above questions and submit this information by the end of this module. A paper of approximately two pages added to your revised SLP1 is expected.
Essay Sample Content Preview:
LOYALTY PROGRAMS
Name:
Grade Course:
Tutor`s Name:
(17, November, 2010)
Introduction
Through Solata Integrated Marketing, Ace Marketing has access to data and information that is used in its CRM program. This includes ability to increase traffic sign ups, improved one on one customer relationships, manage discount and incentive and loyalty tracking, as well as helping in conducting marketing surveys (Chaudhuri & Holbrook, 2001). The data collected is used in acquiring new customers, retaining the existing ones by adding value for these customers and in retaining the good customers. In addition the data is used by the company to add value for customers by personalizing the product.
Ace Marketing has used CRM in identifying the clients` needs with which the company offers the best products matched with the right price for each client. Ace marketing customized merchandise are offered to the clients through an in-house art capabilities.
Company`s loyalty programs
Several loyalty programs are being used by the Ace Marketing & Promotions Inclusive Company to promote customers retention. The loyalty programs used are:
Use of prepaid cards:
The company has devised a program where loyal customers based on the mined information are a given prepaid cards to reward them for continued loyalty. This has made them feel proud of the company and thus the continued excellent customer relationships.
Fully Sponsored Travel programs:
The company rewards its customers by giving away periodic travel programs like fully sponsored international trips and holidays to its loyal customers who have managed to purchase beyond a target set by the company (Crosby & Taylor, 1983). This has encouraged customers to strive to attain this target and this has made them remain very loyal.
Used of Punched cards
The company employs the use of punched cards where cards are issued to customers and those cards are punched each an every time a customers makes and order or shops in the company (Datta, 2003). Customers whose cards are punched more than a certain number determined by the company are entitled to discounts and incentives like free cutleries, sports gear and toys to appreciate their loyalty to the company.
Use of sweepstakes, promotions and contests
The company employs the use of sweepstakes and promotions to reward its loyal customers. This makes the customers feel happy, smart and in control about choices they make hence making them feel good about their behavior (Hirschman, 1970). Promotions are given inform of discounts ands sweepstakes tickets and sometimes issued with thank you notes and birthday cards.
Constant communication with customers
The company also ensures that it maintains a constant communication with its loyal customers through free emailing of the companies newsletter, product catalogs and information on the companies` new products, services and possible customer rewards and pr...
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