Low156
Apa 250 words or more respond to each one
Loyalty programs promote business growth by rewarding repeat customers with varying incentives. Loyalty programs, or also called frequency marketing is defined as, programs that encourage repeat purchasing through a formal program enrollment process and the distribution of benefits (Winer & Dhar, 2011). In today’s modern society data technology is built into reward cards- that data provides key customer intelligence that organizations utilize for strategic planning. This data also helps shape future customer decision points and provides competitive advantages.
I love coffee! If I could figure out a way to have SB (Starbucks coffee) readily available at all times I would, as it gives me “superpowers” at work. I believe SB has developed one of the best Loyalty programs. The Loyalty card rewards you with free drinks, special promotions, and member benefits. In order for any company to have a successful program it has to consider three key aspects; value proposition, value-add, and customer value. Here’s how SB accomplishes that.
SB supports its value proposition with their “Live Coffee” mantra. People come to drink and “Live Coffee”, whether it’s a drip coffee, espresso, or cold beverage. Their loyalty program adds value to their coffee products by rewarding its customers with new drinks, that you may not otherwise tried before. What that looks like is, once you have earned enough points through your purchases you are allowed pick any drink on the menu no matter the cost value. Customer value materializes in reward offerings such as; free drinks on your birthday, free in store refills, or better – order ahead to pick up for later. If an organization follows these key aspects of developing a Loyalty program, coupled with emulating existing successful organizations like SB, the chances for success will be highly probable.
Low 157
Loyalty programs are sometimes called frequencies marketing and are formal enrollment programs that offer rewards/discounts to repeat customers (Winer & Dhar, 2011, p. 428). Loaylty program are offered in various industries icluding airlines, casinos, restuaraunts, grocery stores, and pharmacies just to name a few. Whiner and Dhar suggest that there are three conditions that that loyalty programs works best when:
1. The program supports and is consistent with the brand’s value proposition.
2. The program adds value to the product or service.
3. Lifetime customer value is high (Winer & Dhar, 2011, p. 429).
It is very important that if you do have a loyalty program that it is not costing you money in the long run. You aslo must use the data you collect to add value to the customer. “According to the 2015 Colloquy Customer Loyalty Census, American households hold memberships in an average of 29 loyalty programs, but are active (meaning earn or redeem at least one per year) in only 12 of them. Companies lose money on time and effort, and customers get no more ...
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Low156Apa 250 words or more respond to each oneLoyalty program.docx
1. Low156
Apa 250 words or more respond to each one
Loyalty programs promote business growth by rewarding repeat
customers with varying incentives. Loyalty programs, or also
called frequency marketing is defined as, programs that
encourage repeat purchasing through a formal program
enrollment process and the distribution of benefits (Winer &
Dhar, 2011). In today’s modern society data technology is built
into reward cards- that data provides key customer intelligence
that organizations utilize for strategic planning. This data also
helps shape future customer decision points and provides
competitive advantages.
I love coffee! If I could figure out a way to have SB (Starbucks
coffee) readily available at all times I would, as it gives me
“superpowers” at work. I believe SB has developed one of the
best Loyalty programs. The Loyalty card rewards you with free
drinks, special promotions, and member benefits. In order for
any company to have a successful program it has to consider
three key aspects; value proposition, value-add, and customer
value. Here’s how SB accomplishes that.
SB supports its value proposition with their “Live Coffee”
mantra. People come to drink and “Live Coffee”, whether it’s a
drip coffee, espresso, or cold beverage. Their loyalty program
adds value to their coffee products by rewarding its customers
with new drinks, that you may not otherwise tried before. What
that looks like is, once you have earned enough points through
your purchases you are allowed pick any drink on the menu no
matter the cost value. Customer value materializes in reward
offerings such as; free drinks on your birthday, free in store
refills, or better – order ahead to pick up for later. If an
organization follows these key aspects of developing a Loyalty
program, coupled with emulating existing successful
organizations like SB, the chances for success will be highly
probable.
2. Low 157
Loyalty programs are sometimes called frequencies marketing
and are formal enrollment programs that offer
rewards/discounts to repeat customers (Winer & Dhar, 2011, p.
428). Loaylty program are offered in various industries
icluding airlines, casinos, restuaraunts, grocery stores, and
pharmacies just to name a few. Whiner and Dhar suggest that
there are three conditions that that loyalty programs works best
when:
1. The program supports and is consistent with the brand’s
value proposition.
2. The program adds value to the product or service.
3. Lifetime customer value is high (Winer & Dhar, 2011, p.
429).
It is very important that if you do have a loyalty program
that it is not costing you money in the long run. You aslo must
use the data you collect to add value to the customer.
“According to the 2015 Colloquy Customer Loyalty Census,
American households hold memberships in an average of 29
loyalty programs, but are active (meaning earn or redeem at
least one per year) in only 12 of them. Companies lose money
on time and effort, and customers get no more value from the
businesses to which they are "loyal" (Kolowich, 2015).”
Needless to say, I am one of the household that have many
loyalty cards, but the one I use most often is my MVP rewards
card from Food Lion. Currently they offer four basic
rewards: Every week you can enjoy new MVP pricing on the
items “ you and your family love most (Food Lion Staff)”.
Another reward that they offer is that they have a coupon
kiosk at the front of the store. This kiosk will give you
coupons based on your shopping habits. Most often I do not
use the kiosk because I forget or the coupons are not for
something I am buying at the time. You can also download
coupons right to your MVP card. In addition you can sign up
to receive e-mails and texts. The e-mails will offer savings
3. personalzed to you and the texts will send you exclusive digital
offers, flash deals, coupons, and more. Food Lion plans to
initiate an additional benefit to their costumners. The program
will allow you to “browse the offers available each month, load
them on to your MVP card, shop throughout the month, and
when you meet the reward requirements, get reward dollars
loaded to your MVP Card to redeem on your next shopping
visit. (Food Lion Staff).” In the past they would offer this type
of service, but only around the holidays. The problem with the
previous service was you had to save the paper copies of your
coupons and receipts for at least a month. The new program
will will automatically save them to your MVP card. I did not
benefit t from the past program because I did not save my
receipts so the new program appeals to me much more.
Therefore, in addition to your regular MVP savings you will
earn additional rewards. The problem I see with this type of
program is that shoppers may only shop for the items that are
discounted so the store is really not gaining any value. In an
area like Hampton Roads many of us can also shop at militray
commissaries, which are much cheaper, they do not charge
taxes, and they also have a loyalty card. The bulk of my
grocery shopping is done at the commisary and I pick up only
sale items from Food Lion. In order to be truly effective,
Food Lion needs to initiate a loyalty program that can actually
compete with the commissaries in the areas. Costumers also
need to know the value of the membership and all the benefits
the card will offer. At present I only use my MVP card for the
weekly savings deals because that is the only one that is easy to
use and adds value to the products and service they provide.
The Topic: “The sustainability of Economic growth in China”
What are the main factors of the rapid Economic Growth in
China during the last 30 years? and is this growth rate
4. sustainable?
This Essay is Counted for 50% of the Module.
Total Word Limit: 1,500 (excluding title, bibliography and
appendices)
Useful Sources of Information
i. Any Economics Textbook
ii. Yang, Li (2013) “China’s Growth Miracle: Past, Present, and
Future” Chinese Academy of Social Sciences
iii. Khan, M & Hu, Zuliu (1997) “Why Is China Growing So
Fast?” IMF.
iv. Green, F., and Stern, N. (2014), ―An Innovative and
Sustainable Growth Path for China: A Critical Decade, in The
China Development Forum, Beijing, China, 22 March.
v. Popescu, Gheorghe H. 2016), “IS CHINA’S ECONOMIC
GROWTH SUSTAINABLE?” The Proceedings of the
International Conference Globalization, Intercultural Dialogue
and National Identity.
What Will the Mark Be Looking for?
i. Structure
ii. Academic expression
iii. Focus
iv. Balance
v. Analysis
vi. Evaluation
Essay Writing Tips:
· Answer the Set Question and make sure you understand the
essential point behind the question.
· Put forward and academic argument- state points clearly and
back up with theory/evidence/examples
· Your goal is to make a good case for your point of view
whilst considering the dealing with counter arguments
· Plan your essay first: (Introduction, Main Body, Conclusion)
· One paragraph per issue- separate with a double line space
5. · Keep sentences short and to the point- void the use of adverbs
and adjectives
· Do not assume any knowledge on the part of the marker- the
mark is based on your knowledge not on the person marking
· Do not try to include everything you know- choose a few
salient points to make for and against. The quality of your
argument is important not the quantity of arguments put
Forward.
Purpose of the Essay
· The Induction assignment has been carefully designed to give
you experience of:
· Using the library to find an academic source
· Citing sources and referencing correctly
· Submitting coursework online and in hard copy
· Writing in an academic style
· Understanding assessment criteria
· Meeting deadlines
· Using study skills resources
· Using feedback effectively
These skills are all considered important for university study, so
your mark will count towards your overall mark for the personal
tutorial module.
Format and Content
This Essay is in the form of a conventional essay style answer.
You do not need prior knowledge of this subject to complete
this assignment satisfactorily. In order to understand what is
expected of you, please read the Assessment Criteria carefully.