Customer Loyalty and Its Significance
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Added on 2020-01-28
Customer Loyalty and Its Significance
Added on 2020-01-28
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RESEARCH PROJECT
Table of ContentsCHAPTER1: INTRODUCTION.....................................................................................................11.1Overview of the study.................................................................................................................11.2 Research aims and objectives...........................................................................................11.5 Rationality of the study....................................................................................................21.6: Limitations of Research...................................................................................................21.7: Company background......................................................................................................21.8 Conclusion........................................................................................................................2CHAPTER 2: LITERATURE REVIEW.........................................................................................32.1 Introduction......................................................................................................................32.2 Customer loyalty and its significance...............................................................................32.2 Promotional offers and customer loyalty.........................................................................42.3 Relationship between promotional offers and customer loyalty......................................62.4 Conclusion........................................................................................................................6CHAPTER 3: RESEARCH METHODLOGY................................................................................71.1: Introduction.....................................................................................................................71.2: Research aims and objectives..........................................................................................71.4: Research philosophy:....................................................................................................81.5: Research approach...........................................................................................................91.6: Research Design:.........................................................................................................101.7: Data collection method:.................................................................................................101.8: Research method...........................................................................................................101.8 Sampling technique and size..........................................................................................111.9: Data Analysis................................................................................................................111.10 Research ethics.............................................................................................................111.11 Conclusion....................................................................................................................12CHAPTER 4: DATA ANALYSIS AND FINDINGS...................................................................13CHAPTER 5: CONCLUSION AND RECOMMENDATIONS...................................................195.1 Conclusion......................................................................................................................195.2 Recommendations..........................................................................................................19CHAPTER 6: REFLECTIVE........................................................................................................21
CHAPTER1: INTRODUCTIONTopic: To analyze the impact of reward schemes and promotional offers on customers loyalty:A case study on ZARA 1.1Overview of the study Customer loyalty and satisfaction is an important aspect of any business that is to beconsidered by any company. They are contributing valuable contribution to there profitability. Ithas been observed as customers are integral part of organisation because they are playing vitalrole is fulfilment of objectives by using appropriate demand of products and services those arebeing offered by company. Under this research project one of the major companies in clothingsector is taken as to know about customer loyalty toward their products and how company isgoing reward them form their services. Under this project research various aspect of customerloyalty toward Zara company products are being discuses. It will help to improvise various toolsand techniques used by Zara to fulfil the needs and wants of the customers by providing variousproducts. Under this process various methods or attracting customer satisfaction toward brandloyalty of Zara is being taken as important source. Further, going in research various sources ofdata collection is being used to identify how demands of customers can be satisfied. The researchwill shed light on the aspect of evaluating customer effectiveness through providing best qualityproduct to their regular customers.1.2 Research aims and objectivesThe main purpose of this project research is to know about customer loyalty toward otherbrand and the product of Zara. In that respect is company is availing any kind of reward schemesto attract more customers towards their brand. On the basis of such aim following objectiveshave been drafted:To develop understanding about the concept of customer loyalty and its significance.To investigate the impact of reward schemes and promotional offers provided by ZARAon customers decision making.To analyze the relationship between reward schemes and customer loyalty.To recommend the suitable ways to ZARA for enhancing customer loyalty.
1.5 Rationality of the studyThe researcherare considered to identify the objectives of research project in the mannerin which research is going to be conducting. It is into consideration with regard as important innature when it contains various objective of research. It is valuable to know about rationalitybehind conducting this kind of project as gaining customer attention toward their product. It isconducted so as to evaluate effectiveness and thinking of customer perception toward Zaracompany. A wide range of survey is being conducted in order to reduce literature gap those arearises in customer point of views. It will help to identify its prospect customers those are more infavour of company because they are attracting by offering various schemes and offers.1.6: Limitations of ResearchAs this research is based on customer loyalty toward branded products and how they arereward by the company. But because of limited resources in this project report is only those areunder control of researcher. They are said to be rely on shortcoming conditions those areinfluences and restricted under chosen research project. There are various aspects whichincludes:Formulation of research aims and objectives.Choice of data collection.Implementation of right data collection methods1.7: Company backgroundIn this research project one of the major clothing company is taken into considerationknown as Zara. It is founded in 1975 by Amancio Ortega. It is most known as one of the largestapparel retailer.1.8 Conclusion In this section, it can be concluded that customer loyalty is one of the main aspects thathave significant impact on sales and profitability aspect of firm. Thus, scholar will analyze theextent to which reward schemes positively contributes in ZARA’s customer loyalty.
CHAPTER 2: LITERATURE REVIEW 2.1 Introduction In literature review, scholar develops understanding about the topic or issue by makingevaluation of articles, books and related journals. Thus, in this, brief thesis has been prepared bythe researcher on customer loyalty reward or promotional schemes and associated relationship.Such secondary data assessment has been undertaken by the researcher for analyzing the viewsof respondents in an appropriate manner. 2.2 Customer loyalty and its significance According to the views of Jeong, Cha and Jang (2016) customer loyalty is when individualselects and purchase specific product over others. Hence, when customers stick to specificsupplier on certain aspects or basis then it is considered as loyalty. In the recent times, severaloptions are available in front of customers regarding making purchase of products or services.Further, Hapsari and et.al., (2017) depicted that customer loyalty may be served as a bothattitudinal and behavioural tendency. It shows that when customer satisfies from the products orservices of specific retailer then they favour such brand to a great extent. Thus, customer loyaltyaspect shows the extent to which customers feel comfortable with the particular brand. In accordance with Shaw and Hamilton (2016), customer loyalty enhances word ofmouth publicity to the significant level. The reason behind this satisfied people shares theirexperiences with others and thereby influences their decision making. In this way, customerloyalty aspect places positive impact on the sales and profitability aspect of firm. However, onthe critical note, Wang and et.al., (2016) mentioned that loyalty aspect does not help in makingappropriate forecast of demand. Loyalty is not only associated with the aspect of repeat purchase.By giving positive comments about the product of specific brand and participating in anycampaign related to the same customers can show their loyalty. Thus, it is not possible for theretailer to make clear and appropriate forecast about the sales aspect. Along with this, Russo andet.al., (2016) found that customer loyalty helps in reducing the level of marketing and servicecost to the large extent. Hence, it enables firm to enhance brand image and eliminate the level ofcompetition significantly. Thus, business unit gets several benefits from customer loyalty in bothfinancial and non-financial terms.
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