Entrepreneurial Prospects in Loyalty Marketing: Real-world Grocery Retailers’ Market Survey & Conceptual Case Study

Abstract

Abstract Nowadays, loyalty programs and respective marketing practices are increasingly pursued by companies in order to achieve and enhance customer loyalty. Loyal customers are a key business success factor, especially in eras of financial recession, which can severely affect the performance of firms and even challenge their market survival. To that effect, the great Greek economic recession that inaugurated in 2008 had a major impact on grocery retailers. Specifically, the domestic supermarkets had been unable to maintain their sales in sustainable levels and keep their customers engaged. A possible solution could have been a loyalty marketing services’ provider which would assist corporations in gaining insight about their customers, current and prospective ones. Therefore, this study provides a review of the marketing and grocery sectors in Greece shortly after the beginning of the great economic recession in the country, and further aims in analysing the market, operational and financial feasibility of a conceptual a loyalty marketing agency called CuSight, tailored to the needs of the domestic grocery retailers. The study findings indicate that a loyalty marketing services’ provider like CuSight could have been feasible, relying upon market acceptance.