Open AccessLoyalty Marketing Strategies and Tools of their Implementation
Author(s) -
Iryna Budnikevich,
Iryna Havrich,
Anasnasia Melnik
Publication year - 2020
Publication title -
naukovij vìsnik černìvecʹkogo unìversitetu. èkonomika
Language(s) - English
Resource type - Journals
eISSN - 2519-4372
pISSN - 2519-240X
DOI - 10.31861/ecovis/2020-825-4
Subject(s) - loyalty , marketing , business , loyalty business model , loyalty program , brand loyalty , advertising , service (business) , service quality
The article considers the factors of formation of consumer loyalty to the company and brand, loyalty strategies and tools for their implementation. The authors substantiate the importance of forming consumer loyalty. The list of strategies that lead to the formation of general consumer loyalty to the company and brand is defined on the example of a company-manufacturer of freshly roasted coffee. The combination of marketing tools that ensure the success of the loyalty strategy is considered. There are groups of consumers by level of loyalty, which must be taken into account when selecting strategies and measures for the formation of loyalty. The complexity of evaluating the effectiveness of loyalty programs is investigated and the main metrics for quantitative measurement of the level of loyalty are proposed. It is concluded that the result of assessing the level of consumer loyalty is to make an informed decision to develop new loyalty programs or adjust existing ones to create maximum consumer loyalty. Recommendations for improving consumer loyalty management strategies and relevant marketing tools are provided.