Bonus Programs for CRM in Retail Business

Abstract

This article does a literature research regarding the conception of bonus programs in scientific theory including concepts of customer value and loyalty. The starting point of the loyal customer as the basis of a successful customer value management in the context of maximizing enterprise value, the necessity of customer loyalty and emotional bonding supplemented by the development of purchase decision processes, the implementation in companies is quantitatively surveyed and compared with the theoretical concepts. In a saturated and highly competitive environment, the management of customer loyalty must become particularly important, as new customers can only be won at considerable expense and in manageable numbers. The aim is to strengthen customer loyalty to the company in order to ward off competitive marketing campaigns in the best possible way. For example, customer loyalty programs in which existing customers are rewarded (monetary or non-monetary) for their repurchasing behaviour are used to try to retain existing customers for the company.