Myers: Customer Loyalty Programs and Customer Satisfaction - Research Proposal Example

Research Proposal of Myers Case Study [Student Name] [Student Institute] Table of Contents Introduction 3 Literature Review 4 Case Study of Myer 4 Research Hypotheses 5 Data Collection Methods 5 3.1 Primary Data 5 3.2 Secondary Data 5 Research Design 6 Survey Instrument 6 Conclusion 7 Reference 8 Questionnaire - Appendix 9 Introduction The customer orientation and customer loyalty have turned out to be the matter of survival where the Companies are gaining innovative customers and growing existing relationships with them[Ade04]. The communication is closely linked with the target groups, attracting customers and encouraging brand loyalty where the attainment of top of mind awareness and enhancing the sales towards innovation and existing customers[Bri09]. The customer relationship management is the leading companies that are broad variety of the industries that are more of 40 years. It is identified that cross industry is experiencing the implementation and operations along with the innovative ideas and analytical customer relationship management[Ale04]. There is a creative trend of providing innovative ideas and evaluations customer relationship management to maintain the long term relationship. The customer relationship management helps to attain information on all their customers so they are providing requirements[Cha09]. There are different types of customer loyalty programmes that are used by marketing and customer service, customer contact centres, appointments and business to business market[Don10]. The customer relationship management discusses about the customer loyalty programs including promoting companies to integrate itself towards business to business network by utilizing customer relationship management[Ade04]. The special knowledge is needed for business to business markets where business to business customers are more usually and rational customers in comparison to business to consumers where the team working with knowledge to each customer and industry may improve the sales[Rug06]. The paper discusses about the research proposal of Myer case study which describes about the literature review, research hypotheses and data collection methods, survey instruments and conclusion. Literature Review The customer relationship management is the concept of consumer and business to business marketing that have always made in order to attempt in order to encourage repeating buying from regular and frequent consumers[Cha09]. The customer relationship management is the strategy of managing all organizational communication with present customers[Cha09]. The true customer loyalty is generated to customers for enjoying consistent experiences that are relevancy and valuable. It is identified that customer relationship management is used to enhance customer experience with the organization loyalty programs that has enabling different software[Joh09]. The multichannel loyalty programs are comprised of organizational points and rewarding that comes into true customer loyalty[Bri09]. The customer loyalty is used to enhance and lifting profits per customer by ninety five, where organizations are re-evaluating their approach towards customer loyalty. It is argued that Company is facing issues from the global economic climate in order to thriving from the opportunity[Rug06]. The customer loyalty is based on rewarding programmes which may influence customer behaviours which may include 70 percent of those participating in the loyalty programme where the customer loyalty that can be produced by providing several different approaches towards customer behaviours while communicating with the organizations through different ways[Cha09]. Case Study of Myer The Myer customer loyalty program bringing out seventy percent of total sales which may cause increase in the retailers annual financial results in order to highlight growth and investment in the omni-present retailing and outlining restricting the marketing and digital teams[Ver03]. According to Australian retailing financial report of the year 2013, Myer has now over five million loyalty cards members and increasing nine percent over the year which has enhanced 70% of the total sales globally and locally. The company has distributed around 50 million dollars during the past financial years with average spending and redemption of 3.8 times of customer loyalty of the card[Bri09]. Myer highlighted numerous various towards its customer loyalty program over the past year, including the launch of a Myer one application where Smartphone accessibility towards shopping credit and rewarding card balances along with the notifications regarding events and exclusive news[Uwe09]. The customer loyalty can be revenue driver and has increased the stakes in the local retailing with its recent customer loyalty programs that provides in store customer immediate rewards. The main emphasis is to provide inspiration for everyone providing customers, along with 12,500 team members and 51,000 shareholders and 1200 suppliers internationally and several communities that are engaging in strong brand[Rug06]. Several characteristics in the business to business suggest that customer relationship management which is the aspect of influencing of business where the customer relationship management has the special features in the business to business market. Because of the customer relationship is the network that can be established and enhanced where the extension are causing the network not to enhance benefits linearly[Uwe09]. One of the major features of customer relationship management that are comprised of marketing , customer services and sales that may include tailored marketing , one to one customer service , retailing customers, building loyalty , offering information through customer support, subscription billing and different forms of rewards[Ade04]. Research Hypotheses For the company, the developed research hypotheses are illustrated as follows: H 1: The customer loyalty programmes helped company towards enhancing the financial results and annual sales of the Myers. H2: The customer loyalty programmes of the Myers helped to enhance customer satisfaction of the Company. Data Collection Methods For conducting market research related to the case study of Myers, primary and secondary data collection methods are utilized that are selected and evaluated as follows: 3.1 Primary Data The primary research is the innovative and creative research method for carrying out responses of particular research problems[Bri09]. Although, different forms of primary data collection methods that are provided such as developing questionnaires , surveys or interviews with individuals and small groups of peoples[Jug10]. For the research study, the researchers will utilize mixed research design and analytical approach to describe the research in the more naturalistic way. The data analysis methods will be mixed method where data will be analysed efficient through qualitative method data will be evaluated through graphs and charts along with the use of quantitative methods where financial reports of the Company will be analysed by using Myers website , annual reports and accessing different academic journals[Mic09]. 3.2 Secondary Data There are several resources that are available and used by the researchers to identify and evaluating their research problems including published statistics, reports, journal articles, books and different academic websites[Ron07]. The research uses such secondary sources to evaluate the major findings of primary sources and interpreting with major research findings. Using books , magazines , journal articles , newspapers and academic sources the researcher may go towards indepth evaluation of information collected that are required to be evaluated on the basis of chosen research problems[Jug10]. The secondary sources are also used to compare major findings of the primary data with past research studies to enhance the reliability and validity of the research study[Rug06]. Different books are also used to identify different concepts associated with customer relationship management, customer loyalty and satisfactions along with the theories interlinked with it[Joh09]. Research Design The research design describes as the overall strategies intend to incorporate different aspects of studies in the coherent and logical ways hence making sure that it will efficiently identifies the research problems in the more coherent ways, it develops authentic data collection, measurement and data analysis that are most appropriate for the research study[Uwe09]. For the research study, mixed method will be to make research study more reliable and attaining advantages of quantitative and qualitative methods [Uwe09]. Considering the differentiation of both approaches where qualitative and quantitative approach have been differentiated based on the type of data used as quantitative approach utilizes textual or numerically structured data while qualitative research design is used to identify the critical and naturalistic aspects of the research problem [Joh03]. Data Analysis Methods It depends on the research problems, which involve the selection of appropriate selection of data analysis methods. For the research study, the researcher is using both qualitative and quantitative analysis in order to enhance the reliability and presentation of research findings [Joh09]. For qualitative analysis, charts and graphs that are developed while for quantitative analysis cash flow analysis, income loss statement, estimation of expenses as well as evaluation of fixed and variable costs are conducted[Mar13]. Survey Instrument For the research study, survey research method is selected based on which closed ended questionnaires are developed and provided to the customer of Myers in order to identify the responses of customers towards Company’s loyalty programmes and proving hypotheses[Rug06]. Using the survey data collection approach, the researcher selects a sample of 100 participants from the overall population where well formatted and standardized questionnaires are provided to them[Ade04]. Ten questions are developed to identify the concerns and opinions of customers using Likert scale approach which is used to attain the responses of participants using and aware of customer loyalty programs[Gre10]. Conclusion It is concluded that the loyal customers are usually provide more sales and income at the marginal marketing and retention costs which may include fraction of loyalty. The customer relationship management revolves around customer loyalty which involves sales and income at the marginal marketing and retention costs that are comprised of expenses entailing and attaining innovative buyers[Bri09]. In the recent challenging economy, many competitors for restricted customer dollars make sure their loyalty is major to survival and future prosperity[Rug06]. The customer relationship management describes about the influence of operations, processes and policies. Customer relationship management helped company to get most valuable customers and in doing so bring in others[Ale04]. Properly implemented that is enabling the customers towards top tier customers that can produce the most revenues while fulfilling the requirements of the market base and inclines Customer relationship Management can develop loyalty strategy successfully[Ade04].  The customer relationship management is the system for managing the communication of the Company towards recent and future customers while involving using the technology to arranging, automation while synchronizing the sales, marketing, customer services and technical support[Bri09]. The research proposal discusses about the literature review, data collection methods, research hypotheses, data analysis method and survey instruments. It is identified that Myers loyalty program is one of the Australia is one of the most successful loyalty programs and demonstrating approximately seventy percent of Myers sales[Rug06]. Reference Ade04: , (Berndt, 2004; FitzGerald, Hough, Hough, Joseph, & Qureshi, 2013), Bri09: , (Brink & Berndt, 2009; Creswell, Research Design: Qualitative, Quantitative, and Mixed Methods Approaches, 2003), Ale04: , (Kracklauer, Mills, & Seifert, 2004), Cha09: , (Chaturvedi, 2009), Don10: , (Peppers & Rogers, 2010; Flick, 2009; Jugenheimer, Bradley, Kelley, & Hudson, 2010), Ade04: , (Berndt, 2004; Brink & Berndt, 2009), Rug06: , (Rugg & Petre, 2006; Berndt, 2004; Chaturvedi, 2009), Cha09: , (Chaturvedi, 2009; Brink & Berndt, 2009), Joh09: , (Creswell, Research Design: Qualitative, Quantitative, and Mixed Methods Approache, 2009), Bri09: , (Brink & Berndt, 2009), Rug06: , (Rugg & Petre, 2006; Jugenheimer, Bradley, Kelley, & Hudson, 2010), Ver03: , (Verhoef, 2003), Uwe09: , (Flick, 2009), Rug06: , (Rugg & Petre, 2006; Verhoef, 2003), Uwe09: , (Flick, 2009; Peppers & Rogers, 2010), Bri09: , (Brink & Berndt, 2009; FitzGerald, Hough, Hough, Joseph, & Qureshi, 2013), Jug10: , (Jugenheimer, Bradley, Kelley, & Hudson, 2010), Mic09: , (Berry & Linoff, 2009; FitzGerald, Hough, Hough, Joseph, & Qureshi, 2013), Ron07: , (Nykiel, 2007; Flick, 2009), Jug10: , (Jugenheimer, Bradley, Kelley, & Hudson, 2010; Rugg & Petre, 2006), Rug06: , (Rugg & Petre, 2006; Flick, 2009), Uwe09: , (Flick, 2009; Nykiel, 2007), Uwe09: , (Flick, 2009; Creswell, Research Design: Qualitative, Quantitative, and Mixed Methods Approaches, 2003), Joh03: , (Creswell, Research Design: Qualitative, Quantitative, and Mixed Methods Approaches, 2003; Nykiel, 2007), Joh09: , (Creswell, Research Design: Qualitative, Quantitative, and Mixed Methods Approache, 2009), Mar13: , (FitzGerald, Hough, Hough, Joseph, & Qureshi, 2013), Rug06: , (Rugg & Petre, 2006), Ade04: , (Berndt, 2004; Berry & Linoff, 2009; Kracklauer, Mills, & Seifert, 2004), Gre10: , (Great Britain Parliament House of Commons London Regional Committee, 2010), Bri09: , (Brink & Berndt, 2009; FitzGerald, Hough, Hough, Joseph, & Qureshi, 2013; Berry & Linoff, 2009), Ale04: , (Kracklauer, Mills, & Seifert, 2004; Verhoef, 2003), Ade04: , (Berndt, 2004; Chaturvedi, 2009), Bri09: , (Brink & Berndt, 2009; Rugg & Petre, 2006), Rug06: , (Rugg & Petre, 2006; Great Britain Parliament House of Commons London Regional Committee, 2010), Questionnaire - Appendix Q1: Personal Profile 1) Gender a) Male b) Female 2) Age a) 15-25 b) 26-35 c) 36-45 Q2: The customer loyalty programmes are used to improve the financial stability of the Company. a) Strongly Agree b) Agree c) Neither agree nor disagree d) Disagree e) Strongly disagree Q3: The customer loyalty programmes of Myers are used to improve customer satisfaction. a) Strongly Agree b) Agree c) Neither agree nor disagree d) Disagree e) Strongly disagree Q4: The customer loyalty programmes improves to bring long lasting and loyal customers of the Company. a) Strongly Agree b) Agree c) Neither agree nor disagree d) Disagree e) Strongly disagree Q5: The customer loyalty programmes of Myers are providing satisfactory results from the customers in terms of increasing loyalty and sales. a) Strongly Agree b) Agree c) Neither agree nor disagree d) Disagree e) Strongly disagree Q6: The customer loyalty programmes are using innovative and latest approaches to enhance their customer satisfaction. a) Strongly Agree b) Agree c) Neither agree nor disagree d) Disagree e) Strongly disagree Q7: Are customer loyalty programmes of the Company are helping to enhance their sales upto 70%. a) Strongly Agree b) Agree c) Neither agree nor disagree d) Disagree e) Strongly disagree Q8: The customer loyalty programmes of the Company fails to display Appalling IT and business incompetency. a) Strongly Agree b) Agree c) Neither agree nor disagree d) Disagree e) Strongly disagree Q9: The Customer loyalty is arguably the greatest asset in the business of Myer. a) Strongly Agree b) Agree c) Neither agree nor disagree d) Disagree e) Strongly disagree Q10: Through customer loyalty programmes, the Company is become capable to gather loyal customers provide repeat business, and equally importantly and new customer referrals. a) Strongly Agree b) Agree c) Neither agree nor disagree d) Disagree e) Strongly disagree Read More