Hence, the card is the visible means of implementing a type of what economists call a two-part tariff.
Cards may have a barcode or magstripe to more easily allow for scanning, although some are chip cards or proximity cards.īy presenting a card, customers typically receive either a discount on the current purchase or an allotment of points that they can use for future purchases. Ī loyalty program typically involves the operator of a particular program set up an account for a customer of a business associated with the scheme, and then issue to the customer a loyalty card (variously called rewards card, points card, advantage card, club card, or some other name) which may be a plastic or paper card, visually similar to a credit card, that identifies the cardholder as a participant in the program. The market approach has shifted from product-centric to a customer-centric one due to a highly competitive market and a wide array of services offered to customers, therefore, it's important that marketing strategies prioritize growing a sustainable business and increasing customer satisfaction. Today, such programs cover most types of commerce, each having varying features and rewards schemes, including in banking, entertainment, hospitality, retailing and travel. A loyalty program is a marketing strategy designed to encourage customers to continue to shop at or use the services of a business associated with the program.
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