Research Project on Consumer Behaviour (Doc)
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Added on 2020-09-03
Research Project on Consumer Behaviour (Doc)
Added on 2020-09-03
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Research project
TABLE OF CONTENTS1. Introduction/ Background of research area........................................................................32. Literature review 1000.......................................................................................................43. Methodology500.................................................................................................................64. Time line of research activities...........................................................................................8REFERENCES..............................................................................................................................10
Introduction/ Background of research area.Background of the studyConsumer behaviour is considered as all psychological, social and physical behaviours ofthe company's potential customers as they became aware of evaluation, purchasing, consumptionand telling others about the related products and service. Marketing is accomplished by theorganization with an aim to meet and satisfy the target consumer needs and wants buyersbehaviour refers to the peoples or organization conduct the activities and together with theinfluence of different impacts on them towards making a decision on purchase of products andservice of a company in retail sector. Present reports is based on the analysis of consumersbehaviour towards products of B&M which is European retail value, formed in 1978 and is nowone of the leading variety retail in UK, employing over 28000 staff. Research aims to explorethe importance reward and customer loyalty schemes of B&M towards buying the customer'sloyalty. There are characteristics of consumer have been identified like cultural, social, personaland psychological that affects the perception.. Along with this, Scholar will also identify theproblems which is faced by the organization in influencing the buyer behaviour. B&M alsoneeds to analyse the effectiveness of the schemes which they have development to increase thesale of products and services in market.Research aims and objectives.Aim- To explore the importance of consumer loyalty and rewards schemes towards buying theconsumer loyalty- A study of B&M retailObjectivesTo analyse the essential components of rewards schemes and loyalty scheme.To identify the impact of consumer loyalty schemes on buyer's behaviour.To evaluate the effectiveness of reward scheme towards buying the consumer loyalty.To recommend strategies to B&M for improving reward scheme to enhance the customerloyalty.Consumer loyalty and consumer loyalty and rewards schemes towards buying the consumerloyalty rewards schemes towards buying the consumer loyaltyLiterature review To analyse the essential components of rewards schemes and loyalty scheme
As per the Ramanathan, Subramanian and Parrott, (2017), the customer loyalty schemes arebeing used by all types of business in order to motivate repeat customers by proving some typeof rewards system. A customer loyalty program is a structured marketing effort that is beingmade. The primary goals of a retail's customer loyalty program is customer retention.According to Zakaria and Osman, (2014), to a retailer the customer referrals are thebiggest benefit for a customer loyalty programs. The another advantage of a well- implementedcustomer loyalty program is the customer's satisfaction. The customer will feel acknowledged aslong as the rewards are offered to them are of interest and of value to the customers. This willalso help the companies to earn more profit as through these loyalty programs and rewards thecustomers will be retained and due to which the companies will able to increase its sale. Manycompanies are making use of a simple point system. This comes in the category of mots loyaltyprogram methodology. In some type of rewards the points that are being earned by the frequentcustomers, The more predictable retails sales numbers will become due to larger the customerloyalty programs. For an instance if the discounts are being given to the customers then they willmore satisfied and thy will visit the store the next time as well. As stated by Blut and Brock, (2014), the coupons, free gift's enc need to be given to thecustomers who are frequent visitors of the store. This will attract more number of customers andthey will be feel valued due to theses rewards schemes that is being given to them. On specialoccasion the special offer on the product and services should be there so that more number ofcustomers will prefer to visit the retail store. In a way these rewards schemes that is being givenby the companies will be useful for them in order to gain competitive advantages and also tograb more number of customers. Through the rewards schemes the companies can retain thecustoms and they will stay loyal to the company. In order to retain the customers the newexperimental rewards need to be introduced and the customhouse who have not spent loyaltypoints can be send re reminder by the companies. On the anniversary of their loyalty membershipregistration they can point bonuses. All these ways can be adopted in order to rain the customerto their store.To identify the impact of consumer loyalty schemes on buyer's behaviourAccording to Bowden, Dagger and Elliott, (2015), customer loyalty are benefits whichare provided by the marketers and organization on the purchase of some specific retail productsand services. These some important loyalty schemes involves the discount offers, coupons and
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