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Customer Loyalty Programs
Term Paper # 115596
Customer Loyalty Programs
An exploration of frequency loyalty programs in the hospitality industry.
2,019 words (approx. 8.1 pages) |
9 sources |
APA | 2008
Paper Summary:
The paper discusses the various types of loyalty programs, their key features and their effects. The paper reveals the new elements of the Starwood Preferred Guest Program and provides recommendations to the director of the Hilton's HHonors Worldwide Program on actions designed to answer Starwood's initiatives.Outline:
Introduction
What a Frequency Loyalty Program is
How Frequency Loyalty Programs Work
What Loyalty Programs are Supposed to Do...
Can These Guest Loyalty Programs be Measured
Are Loyalty Programs Successfully...
Memo to Jeff Diskin
The Different Impacts These Programs Have on Redemption Across Hilton's Offerings
How Hilton Should Respond to the 4 Key Features of Starwood's Plan
Recommendations
Conclusion
From the Paper:
"Customer loyalty is particularly important to the hotel industry, because most hotel-industry segments are mature and competition is strong. Reichheld and Sasser (1990) found that a 5-percent increase in customer retention resulted in a 25- to 125-percent increase in profits in nine service-industry groups they studied. Thus, the goal of relationship marketing is to build customers' loyalty based on factors other than pure economics or product attributes, and building a relationship with customers should be the strategic focus of loyalty programs."Sample of Sources Used:
- Anderson, E., Fornell, C. and Lehmann, D.,(1994). Customer satisfaction, market share and profitability: Findings from Sweden. Journal of Marketing,Volume58, pp. 53-66.
- Fornell C., (1992). A national customer satisfaction barometer: The Swedish experience. Journal of Marketing, Volume56, pp. 6-21.
- Fornell, C., Johnson, M.D., Anderson, E.W., Cha, J. & Bryant, B.E., (1996). The American customer satisfaction index: Nature, purpose and findings. Journal of Marketing 60, pp. 7-18.
- Johnson & Kurt. (1998) "Choosing the right program", Direct Marketing, June
- Jones C. & O'Brien L. (1995) "Do rewards really create loyalty", Harvard Business Review, May/June, Vol. 73 Issue 3, p75-82
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Cite this paper
APA Citation:
Customer Loyalty Programs (2012, January 15). Retrieved February 13, 2012, from http://www.academon.com/Term-Paper-Customer-Loyalty-Programs/115596
MLA Citation:
"Customer Loyalty Programs" 15 January 2012. Web. 13 Feb. 2012. <http://www.academon.com/Term-Paper-Customer-Loyalty-Programs/115596>
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ProfMurphy
Publisher Since:
Aug 02, 2009 MBA 2008; Project Management Professional; Stanford Certified Project Manager. My education was received at Norwich University (MBA),The University of the State of New York (BS, AS), Utah Technical College (AS), and at eight military service schools, including the US Military Academy at West Point, NY. I am also a graduate of the Advanced Project Management Program at Stanford University in Palo Alto, California. During the last 12 years, I have been engaged as a program manager / business analyst on over 175 projects for 89 different industries, in such fields as computer technology and security, finance & banking, software research & development, e-commerce, aerospace, electronics/computer manufacturing, military/government operations, education, medical, legal, ship building, oil field construction, logging, sales force supervision, recruiting and staffing. I Have also held positions as chief operating officer for a public key infrastructure company; as the executive vice president of a software development firm; as a practice director for a computer consulting company; as operations manager for an aerospace defense contractor; as a magistrate for the Commonwealth of Virginia; as a community college instructor (physics, mathematics & computer science); and as Director of the Electronics & Telecommunications Evaluation Center, Office of the Secretary of Defense.
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