Answer to Question #42834 in Marketing for abdulla sabit

Question

Today,most leading companies are developing customer loyalty and retention programs.List and shortly describe the ways marketers can use marketing tools to develop stronger bonds with customers.

Answer 1

Beyond offering consistently high value and satisfaction, marketers can use specific marketing tools to develop stronger bonds with consumers. For example, many companies now 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.”

Other companies sponsor club marketing programs that offer members special benefits and create member communities. For example, Harley-Davidson sponsors the Harley Owners Group (H.O.G.), which gives Harley riders a way to share their common
passion of “making the Harley-Davidson dream a way of life.” H.O.G. membership benefits include two magazines (Hog Tales and Enthusiast), a H.O.G. Touring Handbook, a roadside assistance program, a specially designed insurance program, theft reward service, a travel centre, and a “Fly & Ride” program enabling members to rent Harleys while on vacation.

To build customer relationships, companies can add structural ties as well as financial and social benefits. A business marketer might supply customers with special equipment or online linkages that help them manage their orders, payroll, or inventory.