MKT 300 Lecture Notes - Lecture 10: Loyalty Program, Air Miles, Scotiabank

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Discount program: receive instant discount/benefits at the point of sale. Rebate program/cash back: financial benefit from purchases tracked by program sponsor and receive benefit after a set time period. Points program: member accrue points (or credit/currency) by buying g/s from an issuing program sponsor, then exchanging points for free or discounted good or service. The financial sector is largest provider of rewards (b), travel and hospitality sector is the second-largest industry for rewards (b), retail industry has smallest value in rewards (b) Participation requirements- convenience and cost of participation. Program reward structure- point value, variety of rewards, choice and availability of rewards, Program point structure point issuance and point collection convenience brand, reward form cash vs free products. Program management- capture + analyse consumer intelligence, organizational support, position of loyalty program in firms overall marketing strategy. Loyalty program objectives include: sales improvement, data collection (sku, gender,etc.

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