An exploration of frequency loyalty programs in the hospitality industry.
Written in 2008; 2,019 words; 9 sources; APA; $ 63.95
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."
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