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To assess whether customer loyalty and rewards schemes actually work or not - a case study on Tesco

   

Added on  2020-02-03

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To assess that whether customerloyalty and rewards schemes actuallywork or not – a case study on Tesco

TABLE OF CONTENTSPROJECT TITLE............................................................................................................................1INTRODUCTION...........................................................................................................................1Background of research...............................................................................................................1AIM & OBJECTIVES.....................................................................................................................1LITERATURE REVIEW................................................................................................................2Contribution to new understanding.............................................................................................3RESEARCH METHODOLOGY....................................................................................................3EXPECTED OUTCOMES..............................................................................................................5REFERENCES................................................................................................................................7

PROJECT TITLETo assess that whether customer loyalty and rewards schemes actually work or not – acase study on TescoINTRODUCTIONIn the present competitive world, it is important for organisations to keep their customerssatisfied so that they can remain in the market for longer span of time. For the same, trend ofconsumer loyalty and rewards schemes has been increasing at a fast pace. Main reason behindkeeping customers satisfied is that there are only finite number of customers that a firm can serveand if they would not be satisfied, losing of them will cost a company a lot in terms of reducedprofits as well as the goodwill in market (Taylor and et.al., 2010). Therefore, in the presentreport, there will be discussion on assessing that that whether consumer loyalty and rewardschemes actually work or not with respect to Tesco which is the leading company is retail sectorof UK. Background of researchSince a few years, it has been observed that consumers' overall engagement in traditionalloyalty programs have not been much focused by the firms in retail industry of UK and thus, theyall are facing the problem of switching over of customers to other competitor organisations. Thisis the reason; in current era, it is crucial for retailers to refocus their loyalty initiatives customerscan be retained in the long run and firm will sustain and survive effectually. Thus, with referenceto Tesco, there will be study made on assessing that whether consumer loyalty and rewardschemes actually work or not.AIM & OBJECTIVESAim – To assess that whether customer loyalty and rewards schemes actually work or not – acase study on TescoObjectives:To explain the concepts of consumer loyalty and rewards schemes used in TescoTo evaluate the importance of consumer loyalty and rewards schemes for TescoTo assess the benefits that Tesco can gain through consumer loyalty and rewards schemesTo recommend the ways for improving consumer loyalty and rewards schemes in Tesco1

Research questions:1.What is consumer loyalty and rewards schemes used in Tesco?2.What is the importance of consumer loyalty and rewards schemes for Tesco?3.What are the benefits that Tesco can gain through consumer loyalty and rewardsschemes?4.How consumer loyalty and rewards schemes can be improved in Tesco?SELECTION OF RESEARCH TOPICThis part of the research is related with the identify reason for the selection of topic a case studyon Tesco. As previous part, it has been discussed that retail business one of the most competitivetask for an enterprise and they required to maintain their performance level. There are followingreason are mentioned below: In the recent years Tesco profit and revenue is going down which having adverse impacton their consistent growth. Therefore, top management feel that to understand the role ofcustomer loyalty. Tesco also required to make attract its customer and for this they need to analysis itsimpact on the business performance and sales in the longer run. In the recent time each and every company is concentrate on consumer and they producetheir products accordingly. Tesco required to identity needs of their customer which canhelp to increase customer satisfaction level. LITERATURE REVIEWAs per the views of Ernst and et.al., (2011) it can be said that consumer loyalty is trust oftarget audience of an organisation on its products and services which it gains after making thecustomers satisfied to the utmost level and since a long period of time. Firm can gain consumerloyalty by providing value to them in against of what they spend on purchasing the products andservices of company. It can be critically analysed that winning the loyalty of customers isessential for companies as if it will become unable to do so, surviving in the long run would beimpossible. 2

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