INTRODUCTION
Businesses are quickly learning that being the best is no longer enough. Every consumer demands the highest quality goods or services at the best prices, conveniently delivered to them through whatever means and at any time they choose. So the retailers have to do everything to meet those demands. At the same time, invest time and resources to hire and train the staff to be courteous, friendly, helpful and trustworthy when facing customers.
Today’s customers have more choice, are better informed and are more demanding of value and return for their spending money. They look not only for the produ cts and services that meet their needs at the price they are willing to pay, but for the merchant that recognizes, appreciates and rewards their patronage. Given this wide acceptance and popularity of reward & recognition-based loyalty programs, merchants have leveraged, and continue to employ, programs to compliment their traditional efforts in responding to a variety of challenges.
LOYALTY PROGRAM OF PANTALOONS
Pantaloons Green Card Program “Your Green Card is your passport to a whole new world of exclusive benefits and privileges. ” ?? Instant discount* for every time you shop at Pantaloons ?? Exclusive shopping days to get hold of latest merchandise ?? Regular updates on collections and promos via catalogues, sms and email ?? Special invites to the most happening events ?? Extended exchange periods and complimentary drops for alterations ?? Exclusive billing counters and much more * Categories valid for Green Card Discounts:
Apparel, Perfumes & Cosmetics, Toys, Bluesky, aLL, Depot, Planet Sports & Accessories. Valid on categories within Pantaloons only. Also valid at standalone Bluesky and aLL stores. Shop with Green Card, get rewarded instantly, Online purchases are currently not eligible for Green Card discounts or counted in purchases. This feature would be available in the near future. ?? 1 Star Members Gift Voucher worth Rs. 200 on enrolment ?? 3 Star Members 5% discount on every purchase ?? 5 Star Members An exclusive 7. % discount on every purchase ?? 7 Star Members A whopping 10% discount on every purchase Swipe card at the time of purchase to avail these discounts. Most recent purchase helps to upgrade PANTALOONS upgrade is not dependent on the date of enrolment or calender year. They now upgrade on the basis of purchases immediately based on the preceeding 12 months from current shopping date.
PURPOSE/OBJECTIVES
Strategies for increasing consumer loyalty in retail stores ? Special benefits provided to loyal customers
With increasing competition, retailers strive to ensure that their stores are appealing to their target markets. As retailers are finding it increasingly difficult to create a differential advantage on the basis of merchandise alone, the store itself plays an important role for market differentiation. Customer loyalty has always been the term that is a priority of a business’ end result. Because of the various marketing approaches that results to customer data, anyone can say that database marketing, relationship marketing or permission marketing are pretty much doing the talking for them.
In these methods, the business is garnering the loyalty of the customers that they need. If the company manages to retain the customer loyalty programs, then they demonstrate high possibilities of customer loyalty to their business. By encouraging them to remain active in purchasing the services they provide and the products they offer, the company is doing well when it comes to customer loyalty.
RESEARCH OBJECTIVES
The research objectives seek to determine the nature, extent and effect of visual merchandising on consumer buying behavior.
Primary objectives: The primary objective is what should dictate the type of research and the structure of the questionnaire, survey instrument, or other tools used in the study. It’s the “must have” in order to satisfy the contract. Secondary objectives: Secondary objective are the objectives which are auxiliary in nature. This study aims to review the loyalty program of PANTALOONS. In addition, main objective of this study is to examine the influence emerged from loyalty program on customer loyalty. The specific objectives of the study are . To find out the influence of the loyalty program on consumer perception. 2. A detailed study on the impact of loyalty program on consumer buying behaviour. 3. To know about the current trends regarding loyalty program and how they can be implemented. 4. Analysis of sales performance as a result of loyalty program. 5. Measures to improve the performance of loyalty program and make it more efficient and updated. Thinking in line with the above introduction these research has focused on the Loyalty Program of PANTALOONS.
METHODOLOGY
The major parts of the research methodology are: 1. Research method- secondary and primary 2. Sampling plan 3. Questionnaire design (if applicable) 4. Field work plan 5. Analysis plan SCOPE OF THE STUDY : Benefits: ? The study will primarily help as students to have the detailed knowledge of this industry, which will benefit in future. ? If any entity plans to start a new business in these sectors or any company plans for diversification, this research can prove to be of great importance. ? It can be useful to students who want to do further research in this particular field.
