Motivation and Customer Loyalty PDF
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Added on 2020-10-22
Motivation and Customer Loyalty PDF
Added on 2020-10-22
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RESEARCH PROPOSAL-MOTIVATION AND LOYALTYSCHEMES TO ATTRACTCUSTOMERS
ABSTRACTThe research topic is motivation and expectation of business to attract customers byintroducing loyalty schemes. Customer loyalty is a solution to build long run relationship withthe customers. To gain loyal customers the company uses loyal schemes to retain them withproviding special offers and bonuses. Loyalty can be seen as multi dimension and can be treatedas retaining the customer and making them stick to the particular brand. The study outlinedresearch methods which will be used by scholar for the project that is interpretivism philosophywhich helps in studying topics related to human subjects. Further, primary data will be collectedwith the help of randomly sampled participants.TABLE OF CONTENTSABSTRACT.....................................................................................................................................2INTRODUCTION...........................................................................................................................1Overview of study.......................................................................................................................1Overview of company.................................................................................................................1Aim..............................................................................................................................................2Objective.....................................................................................................................................2Research Questions.....................................................................................................................2Rationale of study.......................................................................................................................2Problem statement of study.........................................................................................................2LITERATURE REVIEW................................................................................................................3Theme 1: Motivation and expectation behind loyalty schemes for business to attract customers.....................................................................................................................................................3Theme 2: Loyalty schemes proven to be sustaining market share..............................................4Theme 3: Nature of customers decision making over particular brand loyalty scheme overothers...........................................................................................................................................5Theme 4: Recommendation to company got making efficient loyalty schemes for customerretention.......................................................................................................................................6METHODOLOGY..........................................................................................................................7
Research Philosophy...................................................................................................................7Research type..............................................................................................................................7Research Design..........................................................................................................................7Sampling.....................................................................................................................................7Data collection............................................................................................................................8Data analysis...............................................................................................................................8Ethical consideration...................................................................................................................8CONCLUSION................................................................................................................................8REFERENCES..............................................................................................................................10
INTRODUCTIONOverview of studyThe motivation and loyalty schemes to attract customers are the most powerful tool toattract customers in the long run. This strategy is used by all the big brands. Motivation is themost useful tool to engage and retain the customers in the long run and it enhances and improvescompany- customer relationship. Companies often offer points to its regular customers inexchange of some actions done by the customers and that helps the company to retain theircustomers. When customers are benefited by doing something that company wants them to do,the customers seek for more such schemes and enjoy their experience as well as stick to thebrand because their expectations are fulfilling by the company. To gain the commitment of thecustomers Loyalty points helps the company to secure loyalty of its customers as loyalty pointscreate switching cost and this way the company have commitment of customers and return to thebrand because they want to. These loyalty schemes help company to sustain market share andthe benefits provided by the company allow company to have customer loyalty and customers donot switch to different brands if loyalty schemes of company are efficient.Overview of companyMarks and Spencer are a UK based retail store deals in clothing, accessories and homedecors. It is one of the most leading stores of UK and have a high customer base. To retain itscustomers and motivate them to come back and to sustain them in the long run Marks andSpencer have introduced loyalty scheme called Sparks. It allows customers to earn loyalty pointswhen they spend their money in the store, write a review on the official website of Marks andSpencer or donate some old item. This way they earn Spark points which they can access fromthe official website. As the customers earn spark points, they get access to various benefitsoffered by the company. The offer includes number of benefits like when the customer joins thescheme, they get 10 % discount as a welcome offer. When customer earns 3000 sparks, they getaccess to new arrivals, for 7000 sparks customers are allowed to buy 24 hours before the generalpublic and also it also donates at charity of customer's choice when customer buy the product atM and S. This way M & S create a level of satisfaction among its customers and gain customerloyalty and retain them in the long run.
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