Store Discounts for the customer - Essay Example

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Store Discounts For The Customer Table of Contents CVS Extra Care Loyalty Program 3 Kroger Retail Strategy 4 Seven-Eleven Japan’s Nanaco Program 5 Wal-Mart’s Reason for Not Having a Customers Loyalty Program 6 References 7 CVS Extra Care Loyalty Program CVS Caremark offers health care related services to the clients…
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Store Discounts for the customer
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"Store Discounts for the customer"

The customers of CVS Caremark can get ExtraCare customer rewards and even Extra Bucks with every purchase made by them in the form of in-store purchase or making online purchase. However, the reward earned by the customers can only be spend at the CVS/pharmacy location or when making online purchases. A person is capable of earning 2% in return for the purchases made either on-line or at store. A person purchasing two prescriptions can earn one extra buck (CVS, 2011). The company also offers GreenBagTag related program which is one of the novel characteristics of the CVS/pharmacy Extra Care Reward related program. In this program the cardholders are capable of earning incentives if they do not choose to take a ‘single-use plastic bag’ for shopping. They further receive other money-saving advantages that are related with the participation in ExtraCare program (CVS Caremark, 2010). The company is benefited from the program since such kind of loyalty programs lead to larger transactions, higher profits and frequent purchasing made by the customers. It also provides an insight into customers’ preferences about their needs and wants. ...
The company’s seven different customer groups are budget shoppers, convenience shoppers, family-focused shoppers, quality shoppers, grab-and-go shoppers, traditional shoppers and watching-the-waist-line shoppers. It can be mentioned that in addition to providing rewards to the top customers and providing loyalty rewards to the customers it is quite essential for the company to identify the potential customers and design the products that can satisfy the demands of the customers. The strategies need to be created that matches the strength of the company. The company has considered the needs of the customers and thus designed its strategy accordingly. Strategies need to be developed for each and every customer segment that it has identified to increase the profitability and to preserve the competitive advantage of the firm. Seven-Eleven Japan’s Nanaco Program The Seven-Eleven Nanaco program was started in the year 2007. Nanaco is an electronic payment service that is made available at around 1500 convenience stores of Seven-Eleven in Japan. It can be mentioned that the Nanaco service can be accessed in two forms. It can be accessed either as an integrated-circuit card or in a mobile phone having e-money function. Customers are able to make use of the money that has been transferred over the card or phones to pay for the items that they purchase from the seven-eleven stores. If the person spends 100 Yen, then the users of Nanaco e-money gain one point which is equal to one Yen. This money can be made for purchasing the goods with the help of e-money (The Japan Times, 2007). The main target of the program is the shoppers who make frequent purchases. The company is trying to introduce numerous strategies for increasing the number of the users of the Read More
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