CUSTOMER LOYALTY PROGRAM AS A TOOL OF CUSTOMER RETENTION: LITERATURE REVIEW

Magdalena Hofman-Kohlmeyer ()
Additional contact information
Magdalena Hofman-Kohlmeyer: Faculty of Management, University of Economics in Katowice, Katowice

CBU International Conference Proceedings, 2016, vol. 4, issue 0, 199-203

Abstract: Customer loyalty is a highly valuable asset. To gain loyalty of current customers and create attachments, the growing ranks of entrepreneurs decide on implementation of loyalty programs. This article aims at providing a theoretical outlook on various approaches on loyalty programs derived from literature review and identifing the factors which lead to success of a company. The literature review offers some directives for managers which are useful in the preparation of rewarding programs and are also a source of valuable customer information that helps in building future marketing strategies. We concluded that loyalty programs impact customers using financial and psychological factors to maintain long-term loyalty. Furthermore, loyalty programs should include financial as well as affective components as only financial incentives don’t guarantee a long-term relationship.

Keywords: loyalty programcustomer loyalty; customer retention (search for similar items in EconPapers)
JEL-codes: M31 (search for similar items in EconPapers)
Date: 2016
References: Add references at CitEc
Citations: View citations in EconPapers (3)

Downloads: (external link)
https://ojs.journals.cz/index.php/CBUIC/article/view/762/853 (application/pdf)

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:aad:iseicj:v:4:y:2016:i:0:p:199-203

DOI: 10.12955/cbup.v4.762

Access Statistics for this article

More articles in CBU International Conference Proceedings from ISE Research Institute
Bibliographic data for series maintained by Petr Hájek ().