Loyalty Card Proposal free essay sample

Due to the increase in competition in the Retail Industry, we must impose a new marketing strategy to retain our current customers. Our main strategy is to create a reward program for customers through XM Plus Card Rewards Program. Achieving the above will allow us to retain our current customers by motivating them to frequently buy from Xpress Mart. I. Introduction Modern marketing revolves around the Customer. It is an old and by-now universally accepted concept that the Customer is the King. In recent years, the competition for customers has led many companies in the retail industry to implement a customer rewards program and provide significant incentives that deliver value well beyond reward points. Xpress Mart can continue moving towards its vision to become the most dominant player in the retail industry by implementing a customer rewards program through offering loyalty cards to customers of Xpress Mart. Therefore the traditional approach of making one-time sales is being replaced with making long term commitment to the customer and it can be possible through the XM Plus Card. We will write a custom essay sample on Loyalty Card Proposal or any similar topic specifically for you Do Not WasteYour Time HIRE WRITER Only 13.90 / page . 1 Purpose The purpose of this proposal is to capture an increasing share of new customers while retaining current customers through the customer reward program, the XM Plus Card. 1. 2 Benefits Increasing sales by motivating customers to frequently purchase from Xpress Mart and lowering advertising costs since the XM Plus Card will also be used as the company’s advertising material to attract new customers. 2. 0 Proposal Loyal customers not only provide a solid base for the company; they represent growth potential too. Implementing a rewards program through XM Plus Card is an effective way to attract new customers and to retain current customers to repeat purchases in all Xpress Mart branches. The company will give the loyal customers a degree of importance by providing incentives for their continuous support through the rewards program. 2. 1 Overview of XM Plus Card XM Plus Card resembles a credit card with the name of the customer in front and a black stripe at the back, it will make the customer feel special. It is equipped with an electronic chip that stores membership information and incentive points earned through shopping in all Xpress Mart branches.