Saturday, October 12, 2013

Case Study for Yedo

After studying and analyzing the situation and problems faced by Yedo, we would figure Yedo to implement rank card system in their department store based on SWOT analysis. Firstly, the fecundation to the accompany for having membership card is not only to raise more clients and increase sales volume, but also chit current customers. By offering membership card, members would enjoy roam down pricing of goods at trim down footing. Reichheld and Sasser (1990) claimed that companies screwing boost advantage by al more or less 100% by retaining just 5% more of their customers. According to the law of demand, customers would acquire more as the price goes lower. A study from Shopzilla (Greg Howlett, 2009) in 2007 had shown that 49% of shoppers considered the price to be most in-chief(postnominal) factor in devising a buying decision. This showed that pricing is still the most important factor that affects buying decision. Therefore, by offering goods at lower prices comp bed to competitors is definitely a smart choice to pull customers, in particular when members day is held e precise month. Members can see points and redeem throw in gifts and vouchers with the member card. This is a very attractive measure to consumers particularly the luxurious gifts such as cars, laptops and television from lucky chuff on members day.
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Raghubir (2004) verbalize that coupons and promotions transcend an economic incentive for the customer to use when purchasing a brand and the effect on consumer redemption of coupons has mostly been imperative as it attracts customers, and gives them interest in a particular brand. Furthermore, vouchers are like free capita! l to consumers and they always tend to go more than the amount stated on the vouchers as they allow for be willing to manufacture some extra money instead of wasting it. This is indeed a common consumer psychology. Besides, long-run relationship can be built between the company and the customers by offering membership card. Liam Alvey (1983) (cited by Brian J. William, 2009) found that...If you indispensableness to get a bounteous essay, order it on our website: BestEssayCheap.com

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