Qualitative and Quantitative Research.edited.docx -...

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Quantitative and Qualitative Research QUANTITATIVE RESEARCH: ARE LOYALTY PROGRAMS THE MOST ESSENTIAL COMPONENTS FRO MARKETING? Introduction The use of loyalty programs in marketing has been recently popularized with the aim of encouraging customer loyalty in businesses. Their use is beneficial to both companies and customers. It is a long-term and structured marketing effort that offers customers incentives with a local buying behavior within the organization. As such, successful programs within the organization are usually designed in a way that they can motivate customers to shun competitors and make frequent buying. In recent years, research has been carried out to determine how the independent variable, loyalty program, impacts particular products' marketing. As for this case, the dependent variable is customer retention. The key concept explored is the relationship between the dependent and the independent variable. When customers have a good relationship with particular companies, they tend to shun away other competitors' products. Customers go for products from companies where they are highly valued and appreciated because it gives them adequate efficiency in decision-making, decreases the process of information processing, and decreases future risks, which are usually associated with making future decisions. Most companies use loyalty programs to build their customers' loyalty. The main reason for such is that loyalty programs offer discounts, rewards, and incentives to customers as a way of retaining them. They are also designed as a way for effective brand loyalty. Methodology The main objective of the research was to discover the impact of several loyalty programs on customer retention. Due to the increased competition in the retail market, most retailers offer various types of loyalty programs with the aim of boosting sales via customer purchase. To achieve this goal, primary data was obtained using questionnaires. The data was collected from a particular sample size. The questionnaire entailed three parts, which include: the part containing

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