Экономические науки/6. Маркетинг и менеджмент

Д.э.н. Балабаниц А.В., студ. Пикинер А.А.

Донецкий национальный университет экономики и торговли имени Михаила Туган-Барановского

FORMATION OF CONSUMERS’ LOYALTY AS THE IMPORTANT COMPONENT OF COMPANY’S POLICY

Customer relationship management is perhaps the most important concept of modern marketing. Some marketers define it narrowly as a customer data management activity (CRM). By this definition, it involves managing detailed information about individual customers and carefully managing customer “touchpoints” to maximize customer loyalty. Attracting and retaining customers can be a difficult task. Customers often face a bewildering array of products and services from which to choose. A customer buys from the firm that offers the highest customer-perceived value- the customer’s evaluation of the difference between all the benefits and all the costs of a market. Customer satisfaction depends on the product’s perceived performance relative to a buyer’s expectations.

Outstanding marketing companies go out of their way to keep important customers satisfied. Most studies show that higher levels of customer satisfaction lead to greater customer loyalty, which in turn results in better company performance. Smart companies aim to delight customers by promising only what they can deliver and then delivering more than they promise.

The aim of work is the investigation of interconnections among consumers’ loyalty and the company success (such as Nike and JetBlue Airways), determining the core loyalty programs and ways of melioration in functioning of loyalty programs.

Companies can build customer relationships at many levels, depending on the nature of the target market. At one extreme, a company with many low-margin customers may seek to develop basic relationships with them. For example, Nike does not phone or call on all of its consumers to get to know them personally. Instead, Nike creates relationships through brand-building advertising, public relations, and its Web site (www.Nike.com). At the other extreme, in markets with few customers and high margins, sellers want to create full partnerships with key customers. For example, Nike sales representatives work closely with the Sports Authority, Dick’s Sporting Goods, Foot Locker, and other large retailers.

Beyond offering consistently high value and satisfaction, marketers can use specific marketing tools to develop stronger bonds with customers. For example, many companies offer frequency marketing programs that reward customers who buy frequently or in large amounts. Airlines offer frequent-flyer programs, hotels give room upgrades to their frequent guests, and supermarkets give patronage discounts to “very important customers.” For example, JetBlue Airways offers its TrueBlue members frequent-flyer points they can use on any seat on any JetBlue flight with no blackout dates. JetBlue promises its members “More award flights. More points. More to love.” [1]

Formation and usage of knowledge about customers suppose the evaluation and measuring of knowledge. The measuring of knowledge is realized through 3 directions: knowledge about product (terminology, attributes, brands and their comparative characteristics); knowledge about purchase (price and time of purchase); knowledge about usage of product (customers’ notification).

In order to reach the customer loyalty during the cooperation with clients it is necessary to follow various programs in loyalty. Loyalty programs are managerial tools that are directed at optimization of relationships between organizations. The most significant kinds of clients’ loyalty program are the following:

1) programs which suppose the material and psychological reward;

2) programs with fixed and differential discounts;

3) programs oriented on the determined audience;

4) programs creates on the basis of plastic cards. [2]

Several elements are distinguished when determining of values at the loyalty programs is realized such as a great variety of reward kinds (choosing of gift); desired value of reward (something exotic that customer cannot afford himself in case of daily conditions); the facility of using the program of loyalty; psychological rewards- the satisfaction from taking part in the program.

Therefore, for melioration of loyalty among consumers it is necessary:

1. To choose direct and rational approach to the determining of the managing way in consumers fidelity;

2. To analyze and to make segmentation of separate groups of consumers according to the fidelity.

3. To investigate the consumers’ motivation in communication with company;

4. To switch from purpose and the strategy of business to the general market orientation;

5. To define the evaluation criteria of consumers’ fidelity (quantitative and qualitative), methods of analysis and periods of databases analysis;

6. To elaborate the process of coordination the relations with consumers;

7. To evaluate the indicators of functioning systems, information technologies;

8. To implement the plan of actions in the managing the relations with consumers;

9. To realize the mini-audit of loyalty programs;

10. To determine the effectiveness of privilege system.

Therefore it may be concluded that significant changes are occurring in the ways in which companies are relating to their customers. Yesterday’s big companies focused on mass marketing to all customers at arm’s length. Today’s companies are building deeper, more direct, and lasting relationships with more carefully selected customers.

References

1. Annie Mckee Management: a focus on leaders.- Pearson Education, Inc.- New Jersey.- 2012.- p.122

2. Nancy Lyons Interactive Project Management.- New Riders.- USA.- 2012.-p.58