26-07-2012, 11:55 AM
CUTOMER LOYALTY INITIATIVES PROGRAM OF BIG BAZAAR
A PRESENTETION OF CUTOMER LOYALTY INITIATIVES PROGRAM OF - Copy.pptx (Size: 1.13 MB / Downloads: 45)
THE COMPANY
Big Bazaar, one of the biggest retail format of future group
(India) Limited
One finds over 170,000 products under one roof.
They provide different offers at different intervals of time.
They have opened the doors into the world of fashion and general merchandise including home furnishings, utensils, crockery, cutlery, sports goods and much more at surprisingly low prices.
In recent years, Big Bazaar has adopted value pricing in which they win loyal customers by charging a fairly low price for a high –quality offering.
The added advantage for the customers shopping in Big Bazaar is that there are all time discounts and promotional offers going on in the Big Bazaar on its scalable products.
WHAT IS CUSTOMER LOYALTY
Loyalty Program” can be defined as a program that allows consumers to accumulate free rewards when they make repeated purchases with a firm.” (YupingLiu, 2007)
LITERATURE SURVEY
Maloney (2006) propose to exclude purposes according to their stability criteria: Operative/ changing purposes i.e. (1) increase the profit while raising levels of customers’ purchase or products consumption, and (2) expand categories of offering products from suppliers. Stabile purposes i.e develop the stronger and closer connection between products and customers, help to develop and control customers’ database usefully. Later then company will implementing loyalty programs, these purposes can change. Popularity of loyalty programs, the distribution among customers, rendering of advantages for customers are influencing purposes as well. Also additional purposes are excluding in loyalty programs formation, which later let to develop and control loyalty programs, i.e., further cross sale, development of databases, help in developing additional trade connections, creating and improving public relations politic of the company, create friendly relations with other companies and association of them for the general aim.
According to Long & Schiffman (2005) it is easier for the company to estimate the particular loyalty program type then purposes of these programs have evaluated.
LOYALTY PROGRAMS
Customer Loyalty measures are designed for the people within a company who dictate the strategic direction of the company. These measures evaluate the performance of a company’s current customer base and drive the future direction of a company’s overall customer strategy. Big bazaar’s loyalty programs are comprised of:
RECOMMENDATIONS
The materials like shopping bags, catalogues etc. are appealing to attract the customers but some others materials as new offers ,free samples of new products should be added this series to attract the customers.•
They need not to deviate what they are providing as a loyalty program , i.e. future card.
Store must work upon its idea of shopping at home facility and also delivery facilities should be improved.•
Customers want to avail discounts and clubbed offering so, they must be given more monetary benefit in terms of cost savings.•
Since loyalty programs are motivational factors for the customer so their expectation from such programs must be achieved.