AN investigation of the consumers predisposition towards enrolling into the retail loyalty cards.Introduction India has witnessed a surge in organized retailing in recent past. Each player in the industry is trying to be a pioneer in various activities related to retail expansion and establishing a foothold foot·hold n. 1. A place providing support for the foot in climbing or standing. 2. A firm or secure position that provides a base for further advancement. foothold Noun 1. in the industry. Companies are gearing up their business model to become first in innovative retail format, largest retail chain and, grabbing the best locations in the cities across India. Huge investments are flowing for various innovations for the back end operations including supply chain, logistics, services and customer management. All constituents of the industry have prioritized generation of the retail traffic as a priority area as any retail destination will be barren bar·ren adj. 1. Not producing offspring. 2. Incapable of producing offspring. barren see infertility. barren adjective Gynecology Infertile, sterile, fruitless, inconceivable unless it is frequented by a huge base of loyal customers regularly. To please the customer companies are working hard with various types of tools and technologies available which can help them generate customer delight. Indian retailers from an era of transactional marketing have shifted focus on customer relationship management at a deeper level. Tougher competition, breaking down of traditional barriers between products and services and increasingly discerning dis·cern·ing adj. Exhibiting keen insight and good judgment; perceptive. dis·cern  ing·ly adv. customers necessitate ne·ces·si·tate tr.v. ne·ces·si·tat·ed, ne·ces·si·tat·ing, ne·ces·si·tates 1. To make necessary or unavoidable. 2. To require or compel. retailers to access an increasing range and depth of expertise to sustain competitive advantage. This paper will investigate consumer attitudes and behaviors within industry intent and practice with respect to the use of loyalty card to generate repeat visit of the customer. This research attempted to find answers to questions like--Do consumers feel "rewarded" for using a Loyalty card? Are these cards effective in "driving" consumers to the store? "What are the advantages for separating the truly loyal shoppers from the occasional shopper? As shopper card programs are so prevalent in the marketplace, are consumers inclined to buy more if they used a loyalty card? 2. Generating Retail Addiction There are two key specifics when it comes to building relationship with customers: acquisition and retention. Customer relation management aims at retention by focusing on generating superior customer equity. This should culminate culminate, in astronomy, the maximum height in the sky reached by a celestial body on a given day. At the culminate the body is crossing the observer's celestial meridian and is said to be in upper transit. in the higher repeat visits of the customer. Organizations use loyalty schemes to encourage repeat purchase, which implies loyalty programs are supposed to help them retain their customers. It appears that to make the loyalty programs successful it is wise to build sustainable relationship with the customers. The strategy is to make the customer feel interested in the organization's loyalty programs and promotions. Those organizations, which are successful in building emotional and social bonds with customers, are successful in creating loyalty. Research shows that social interaction among customers has been effective in increased customer loyalty (Arnould and Price, 2000; Aubert-Gamet and Cova, 1999; Cova, 1997; McAlexander et al., 2002; Muniz and O'Guinn, 2001; Oliver, 1999; Schouten and McAlexander, 1995). All retailers depend on repeat business from customers to survive and strive to develop favorable fa·vor·a·ble adj. 1. Advantageous; helpful: favorable winds. 2. Encouraging; propitious: a favorable diagnosis. 3. attitude among shoppers who may also influence others to consider shopping at their stores (Myron, Fiorito and, Topol; 2008). As competition in the Indian retail market intensifies new customers will become more and more expensive to acquire, therefore retailer's will need to focus on mobilizing mobilizing, v 1. freeing or making loose and able to move. 2. observing any ongoing movements in a client's body, whether small or large, assisted or not, that identify strengths and weaknesses, as well as the client's physical and customers as quickly as possible right from the beginning of the business. [ILLUSTRATION OMITTED] There are several benefits of addicting customer to one's retail store. Such customers who are addicted ad·dict·ed adj. 1. Physiologically or psychologically dependent on a habit-forming substance. 2. Compulsively or habitually involved in a practice or behavior, such as gambling. and may be termed veteran customers are also the ones who introduce several new customers to the store. They not only buy their own stuff from the store but also guide other shoppers while shopping on where to find what in the store saving employees time. They are also the most supportive group in the research efforts of the organization. 3. Loyalty Cards and Loyalty Program Loyalty relates to the conviction about the products being appropriate to meet the needs in the best possible manner delivering greater value in the consequence. It is established when the customer is committed to the brand or a company. There can be satisfaction without loyalty, but it is impossible to have loyalty without satisfaction (Shoemaker and Lewis, 1999). While organizations can place no guarantee about a satisfied customer returning, there is a certainty that a dissatisfied dis·sat·is·fied adj. Feeling or exhibiting a lack of contentment or satisfaction. dis·sat is·fied customer will not return (Dube et al., 1994). Orr (1995)
states there is a link between customer retention, satisfaction and,
loyalty. He believes that for business to be profitable it is important
to induce customers to come for repeat purchase. The purpose of loyalty
programs has been to create long-lasting relationship with the
customers. The strategy of fostering and managing relationships with the
customers is to develop preference of the customers towards the
organization's products and services.
Customer loyalty has been universally recognized as a valuable asset in the competitive markets (Shrivasta, Shervani and Fahey 1998). The focus from delighting the customer once and hoping that customer will remember the experience and will come back companies has moved to designing innovative CRM (Customer Relationship Management) An integrated information system that is used to plan, schedule and control the presales and postsales activities in an organization. programmes. The new age marketing focuses on scoring a presence in the wallet of the customer in the form of the loyalty card. Loyalty card is being viewed as a string which loosely attaches retailer with the customer. How the string is pulled and with what intensity depends on the creative ability of the retailers. By enrolling customers to become a part of the organizations loyalty card programme one can generate huge data base with requisite details about the consumer. This data base is a huge opportunity for retailers, but harnessing value from these information's and putting them to commercial use requires lot of restructuring of operations in the organization. In the prevailing retail scenari o, when strategies of all organization appear homogeneous The same. Contrast with heterogeneous. homogeneous - (Or "homogenous") Of uniform nature, similar in kind. 1. In the context of distributed systems, middleware makes heterogeneous systems appear as a homogeneous entity. For example see: interoperable network. , it is important that one should be able to break their programme from this homogeneity Homogeneity The degree to which items are similar. . Customer expects value when they enrol for loyalty program from different organizations. [ILLUSTRATION OMITTED] Loyalty cards are a system of the loyalty business model .A retail establishment or a retail group may issue a loyalty card to a consumer who can then use it as a form of identification when dealing with that retailer. By presenting the card, the purchaser is typically entitled en·ti·tle tr.v. en·ti·tled, en·ti·tling, en·ti·tles 1. To give a name or title to. 2. To furnish with a right or claim to something: to either a discount on the current purchase, or an allotment of points that can be used for future purchases. Ever since the advent of the smart loyalty cards, loyalty programmes (LP) have been transcending their traditional role as creators of exit barriers by transforming themselves into facilitators of customer data collection. Apart from demographic and socioeconomic data, behavioural Adj. 1. behavioural - of or relating to behavior; "behavioral sciences" behavioral (transaction) as well as psychographic In the field of marketing, demographics, opinion research, and social research in general, psychographic variables are any attributes relating to personality, values, attitudes, interests, or lifestyles. They are also called IAO variables (for Interests, Attitudes, and Opinions). (survey) data are being collected for known LP members. Integral analysis of these data can be of immense value for retailers striving to improve service quality for different customer segments. If organizations understand their customers and their peculiarities, the rewards of the loyalty programs can be designed accordingly. Research emphasizes that the design of rewards (e.g. O'Brien and Jones, 1995; Parker and Worthington, 2000; Jang and Mattila, 2005; Yi and Jeon, 2003) plays a significant role in the success of loyalty program. Stone et al. (2004) posit that loyalty schemes by themselves cannot generate loyalty through the reward mechanisms. The loyalty programs can be used to motivate the customer to be a part of the organization. This would build a financial bond with the company, which later on has the potential to be converted to structural bond. Loyalty programs are structured marketing efforts that reward, and therefore encourage, loyal buying behaviour-behaviour which is potentially of benefit to the firm a loyalty card, rewards card, points' card, or club card is a plastic or paper card, visually similar to a credit card or debit card debit card, card that allows the cost of goods or services that are purchased to be deducted directly from the purchaser's checking account. They can also be used at automated teller machines for withdrawing cash from the user's checking account. , that identifies the card holder as a member in a loyalty program. Some loyalty cards come in the form of a credit card where a customer gets reward from a specific retailer for using the card in the store. Over the past few years, developments in the introduction and structure of loyalty card schemes with varying degrees of benefits have claimed success. This has highlighted the need for a strategic model to help retailers decide on the most effective loyalty card strategy. 3.1 Purchaser-Purveyor Loyalty Card Model The Purchaser-Purveyor Loyalty Card Model shows five major loyalty card strategies available to a retailer: Pure, Push, Pull, Purchase and Purge. * Pure - involves spending and accruing benefits only with the card--issuing retailer. An example would be purchasing groceries from a specific retailer to gain a discount on future grocery purchases from the same retailer.(Club west from Westside) * Push--involves spending at several retailers and accruing benefits with the card-issuing retailer. An example would be a card-issuing retailer linking with a bank to gain access to many retailers through the use of a common payment scheme (e.g. Visa or MasterCard). * Pull--involves spending at the card-issuing retailer and accruing benefits outside the retailer's everyday range. An example would be purchasing petrol from the card issuer in order to claim gifts from a catalogue provided by a third party (IOC's Petro Card) * Purchase--involves spending and accruing benefits across many retailers. An example would be the use of general credit cards in order to claim gifts from a catalogue. * Purge--involves no loyalty card. Customer gets a straight discount on all purchases. [FIGURE 1 OMITTED] [ILLUSTRATION OMITTED] 4. Loyalty Cards in Indian Retail Stores As an effort to lure new and old consumers and retain them with the company for a long term as loyal customers a number of Indian enterprises have launched loyalty cards programmes in different formats and forms . In India BPCL's PetroBonus program was the pioneering program and also one of the largest in the country with about 2 million members for the fuel card program. It also has variants for Fleets and Convenience store customers. Likewise IOC's Fleet Card Program XTRAPOWER has been reported to cross 1 million mark. IOC IOC abbr. International Olympic Committee IOC n abbr (= International Olympic Committee) → COI m IOC n abbr (= has launched a loyalty program XTRAREWARDS for retail customers. Along with reward points it offers other benefits through its alliance partners. From group cards, like Green Card from Pantaloon Pantaloon: see commedia dell'arte. , to cards enrolling multiple sellers and cards only of a limited cash value launched by Ad Labs and PVR See DVR. cinema for movie tickets, India has lapped up card technology in retailing, in various formats with a high degree of enthusiasm. Everyone is trying to create maximum value generated for the organization by creating of superior customer equity. Modern retail outlets of India which are still taking a shape and growing at an exponential 1. (mathematics) exponential - A function which raises some given constant (the "base") to the power of its argument. I.e. f x = b^x If no base is specified, e, the base of natural logarthims, is assumed. 2. rate have already launched loyalty cards as a quintessential quin·tes·sen·tial adj. Of, relating to, or having the nature of a quintessence; being the most typical: "Liszt was the quintessential romantic" Musical Heritage Review. strategy. Big Bazaar Big Bazaar is a chain of department stores in India, currently with 66 outlets. It is owned by the Pantaloon Retail India Ltd ,Future Group. It works on the same economy model as Wal-Mart and has considerable success in many Indian cities and small towns. has joint credit cards with ICICI ICICI Industrial Credit and Investment Corporation of India , Vishal Mega Mart has a joint Credit card with SBI SBI Special Background Investigation SBI Subsidiary Body for Implementation SBI State Bank of India SBI Secure Border Initiative SBI Small Business Institute SBI Stockholm Brain Institute SBI Serious Bacterial Infection SBI Society of Breast Imaging , and Reliance has come up with its own credit card. Lifestyle, for instance, has a loyalty programme called 'The Inner Circle'. Rewards programmes, such as 'Club West' from Westside and 'First Citizen' from Shopper's Stop, are also in competition to attract and retain the customer. Small retail chains like Ritu Wears, Globus, Saboo, Bombay Selection, CTC plaza etc also enroll customer in their loyalty programmes. 5.Methodology Our study focuses on the issue of loyalty card members willingness to enroll for the loyalty card programme for a retail oulet . It is assumed that a shopper will be willing to take loyalty card of a firm if he sees perceived value in the offer. We have also assumed that good marketing effort to enroll people in the programme will also generate some willingness to enroll for loyalty programme of a firm . It is also assumed that a shopper may take a card because of the other reasons like previous experience with the firm. We have conducted this research on these three dimensions only. These three dimesnsions are built upon the work of ,Jhonson and others on loyalty intentions as loyalty intentions are quite close to willingness to enroll for loyalty card programme of a firm. A segmentation on the basis of three distinct issues ,viz, maketing of loyalty cards by the firm,personal factors related to prior experience and perceived value have been selected to be inputs into clustering process. For cluster profiling, selected demographic, socio-economic, and transaction variables are used. Apart from methodological issues, managerial implications of findings are discussed.Our paramount research goals are to find out how various marketing and other issues effect the success of the loyalty programme's marketing of a firm . The effect is probably even larger in the framework of a loyalty programme aiming at creation of long-term relationships. [ILLUSTRATION OMITTED] 6. Sample Selection Procedure and Sample Characteristics Before taking a closer look at the sample characteristics, it is necessary to describe the sample selection procedure, which consisted several steps: a stratified stratified /strat·i·fied/ (strat´i-fid) formed or arranged in layers. strat·i·fied adj. Arranged in the form of layers or strata. random sample of 201 units was selected from the retailer database. Although the final result is not a perfect stratified sample Noun 1. stratified sample - the population is divided into strata and a random sample is taken from each stratum proportional sample, representative sample due to elimination of several selected units without replacement (because of temporal and financial project constraints), it comes close enough for the goals of the proposed empirical project. Sample characteristics closely resemble characteristics of the population of loyalty card programme. As shown in Table 1, there are 62.7 per cent males and 37.3 per cent females in the sample, with the average age of 42.9 years. The youngest cardholder card·hold·er n. One who holds a card, especially a credit card. card hold is 24 and the eldest
79 years of age.
To define the underlying structure in the data matrix we used a multivariate apporach specially factor analysis which enabled us to identify the separate dimensions of the structure and determine the extent to which each variable was explained by each dimension. Oblimin with Kaiser normalisation 1. (data processing) normalisation - A transformation applied uniformly to each element in a set of data so that the set has some specific statistical property. For example, monthly measurements of the rainfall in London might be normalised by dividing each one by the total rotation method was used due to expected correlation among factors. Significant loadings were interpreted. Factor analysis was further used for data reduction by calculating scores for each underlying dimension and substituting them for the original variables [Hair et al., 1998]. 7. Results Analyis The Kaiser-Meyer-Olkin Measure of Sampling Adequacy with value of 0.700 was in the acceptable range. Bartlett's Test Bartlett's test (Snedecor and Cochran, 1983) is used to test if k samples have equal variances. Equal variances across samples is called homoscedasticity or homogeneity of variances. of Sphericity (216.4, df. 15, Sig.0.00) showed that non-zero correlations existed at the significance level of 0.000. This provided an adequate basis for proceeding with the factor analysis. The first step in the factor analysis procedure was to select the number of components to be retained for further analysis. The importance of each component as well as their relative explanatory power as expressed by their eigenvalues eigenvalues statistical term meaning latent root. were analysed. The screen test indicated that three factors might be appropriate. Although the eigenvalue eigenvalue In mathematical analysis, one of a set of discrete values of a parameter, k, in an equation of the form Lx = kx. Such characteristic equations are particularly useful in solving differential equations, integral equations, and systems of for the third factor was low (0.755) relative to the latent root criterion value of 1.0, we considered inclusion of this factor as well. The three factors represented 53 per cent of the total variance of the six variables (two factors accounted for 48 per cent of the variance). The size of communalities (see Table II) shows variance in a particular variable accounted for by the three-factor solution. Extraction method used was the Principal Axis Noun 1. principal axis - a line that passes through the center of curvature of a lens so that light is neither reflected nor refracted; "in a normal eye the optic axis is the direction in which objects are seen most distinctly" optic axis Factoring, followed by the Oblimin rotation method with Kaiser Normalisation. As shown in Table II and III , each factor is composed of variables with loadings of 0.50 or higher. Variable S_1, S_7, and S_2 loaded significantly on Factor 1, variables S_3, S_4 and S_8 on Factor 3 and variables S_5, S_6, S_9 and S_10 on Factor 2. All three pairs of variables vary together (for all three pairs, both variables are of the same sign, suggesting that these perceptions are quite similar among respondents). Factor 1 seemed to capture marketing of the loyalty card , Factor 2 tapped into personal factors related to prior experience and Factor 3 revealed perceived value of the card. [ILLUSTRATION OMITTED] In our case it was reasonable to expect that perceptual dimensions would be correlated cor·re·late v. cor·re·lat·ed, cor·re·lat·ing, cor·re·lates v.tr. 1. To put or bring into causal, complementary, parallel, or reciprocal relation. 2. (see Table IV). The application of an oblique rotation was thus justified. Validation of factor analysis was performed by splitting the sample into two sub samples and re-estimating the factor model to test for comparability [Hair et al., 1998]. The results proved to be stable within our sample. Findings suggest that loyalty card programme of a firm may be successful due to three reasons , first the marketing effort related to the card programme of the firm. Our findings suggest that therefore retailers should plan additional marketing efforts for loyalty cards. The success of a loyalty card programme should not be considered a by product of the other marketing efforts by the organization . While devising a loyalty programme firms must form a clear cut strategy and allocate resources towards it rather than beleiving that the card programme will be successful by sales effort at point of sale and providing rewards based on accumulated points on the sale point . The Second factor that we found is the perceived value of the card, if the customer believes that the firm will be able to provide him some extra value because he is a card holder the customer will go for the card. Generating a superior perceived value for the card is another factor loyalty programme firms must take into account . This will primarily be adjudged by the customers based on the features of the card once they enrol for it. The perceived value of the card points towards the fact that when customers enrol for the card they ask a simple question whats their in it for me. The third factor explains that a customer will enroll for the loyalty card of a firm because he has a prior experience of shopping with the firm and is satisfied with the retailer due to his prior experience. The third factor emphasises that while promoting a card a firm may leverage from its existing superior experience provided to the customer as this would moti vate consumer to enrol for card. Companies will have to devise marketing of cards to the existing customers after a delightful experience in their store. This will be true vice versa VICE VERSA. On the contrary; on opposite sides. also i.e if a customer has inferior experience while shopping in a store he will have no reason to enrol for an organizations loyalty programme . Therefore the third factor becomes a hygeine factor for commencing a loyalty card programme. From this, we may conclude that apart from aggressive marketing of the card, a retailer should be able to create a higher percieved value of enrolling for the card and the other experience related factors will play a key role in loyalty card acceptance amongst the customer. Our results correlate very well with the previous reseraches which asserted that in the introductory and growth phase of a business perceived value play a key role in the loyalty programme success (Fornell et al.1996: Zeithaml, Berry, and Parasuraman1996). However reseraches have also demostrated that these relationships are potentially complex and dynamic and those drivers of intentions change and evolve over time (Mittal, Kumar and Tsiros, 1999: Slotegraaf and Inman 2004). [ILLUSTRATION OMITTED] 8. Managerial Implications of the Research Enrolling customers for the loyalty programme is easy as compared to generating some added money value from the card holder, as some marginal revenue Marginal revenue The change in total revenue as a result of producing one additional unit of output. marginal revenue The extra revenue generated by selling one additional unit of a good or service. for the retailer.Using Information to one's advantage when the front end and the backend data integration of the firms is not intact, is a big challenge to all retailers. In such scenario generating data through these loyalty programs and not being able to use it, is a opportunity loss to the retailers. To develop capability to harness value from money from loyalty programmes companies will have to consciously decide to become relationship oriented o·ri·ent n. 1. Orient The countries of Asia, especially of eastern Asia. 2. a. The luster characteristic of a pearl of high quality. b. A pearl having exceptional luster. 3. organizations and create their marketing around relationship management, Contradiction is that every one wants to become a retailer based on the type of affordability they can provide. Beyond sending mailers of the new discount sale arrival, data has not been put to any strategic use. Retailers believe that the data is to be used for push marketing only. Retailers need to understand that relationship management also means taking care of customer nauances like refurbising the inventory, as per the new trends and informing the customer about the same. Seeking customer ideas on probable styles and desire they would like to buy. Sending them gratitude mails and value added Value Added The enhancement a company gives its product or service before offering the product to customers. Notes: This can either increase the products price or value. information. Simply presenting savings alone does not earn a customer loyalty the dilemma lies in what to provide to shoppers beyond a paperless coupon system; that is, programs that link to how customers live their lives and experience aspects of the store that they utilize or have an emotional connection. Card program may also help enhance satisfaction if the program includes maintaining a meaningful dialogue with shoppers that is based on a deeper understanding of the consumer insights and extends well beyond reciting back the name printed at the bottom of a receipt. Loyalty cards marketing does not end with enrolling shoppers for the card, rather it begins once you have card members. Retailers need to reconfigure To change the status of something. their strategy for generating loyalty with their loyalty card programme. Cards and data generated should be used as a tool for customer engagement when the customer is not in the store. 9. Conclusion Retailers must understand that they cannot expect consumers to blindly pledge their allegiance to the store; they must earn their shoppers' devotion. But while the programs are getting bigger and better they might not provide payout to the retailers. For any programe to hit the target it is a must that it should be a well thought of value proposition for the customer. Retailers should weave their loyalty card strategy around superior marketing push for the card, a good experience in the store and enhancing the perceived value of the card in the perceptual space of the shopper. Using a loyalty programe as a defensive measure might not be the best idea with retailers. Cross tie ups with other category of retailers or cards accepted at all the various formats of the store as a group might do better in the future. Retailers face multiple challenges to generate and retain future loyalty. The challenge is to understand that loyalty is the by-product of 'getting everything else right'. Generally speaking, consumers care less about specific tools, aids, gadgets, coupons and so on, and more about the integrated whole of their shopping experience. Retailing firms will need to create loyalty in a way that fits there market position, organizations objectives and there customer base. Using loyalty card for retaining the customers can be successful only if one is able to look at the card strategy in a hoilistic manner. 10. Future Research This research has primarily focused only on the intention to enroll aspect of the loyalty card. Researchers can further study the impact of individual cards enrolment effort studies. Research on the cause and effect relationship of the card strategy will also be very useful as it would draw the future strategic path for the practitioners. Research on card strategy with respect to Indian consumer's culture specific factors can also be very useful in this area. References Arnould, E.J. and Price, L., "Authenticating Acts and Authoritative Performances", in Ratneshwar, S., Mick, D.G. and Huffman, C. (Eds), The Why of Consumption, Routledge, New York New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of , NY, pp. 140-63., 2000 [ILLUSTRATION OMITTED] Aubert-Gamet, V. and Cova, B., "Servicescapes: From Modern Non-places to Postmodern post·mod·ern adj. 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Table I
Gender Structure and Age Characteristics of
the Respondents Sample
Gender Number %of Average Mnimum Maximum
of Units Units Age Age Age
Male 126 62.7 43.3 24 69
Female 75 37.3 42.2 24 79
Total 201 100.0 42.9 24 79
Table II
Communalities
Variable Variable Description Communalities
Code
S-1 I may to ke the loyality card if it 0.436
is aggressively pitched to me .
S2 I would do most of my purchase from 0.666
the store where I have loyality card.
S_3 I would prefer a loyality card with 0.478
a company which has cross ties up
with other orginsation.
S-4 I would prefer a loyality pogrram in 0.520
a store which has a very wide variety
S_5 Loyality pogramm do not make any 0.540
difference in the status of the
consumer in the store.
S_6 Purchasing with loyality card will 0.554
enhance your satisfaction in the
store.
S_7 I will take the loyality card if it 0.558
comes with no compulsary purchases.
S_8 I will take loyality card only from 0.582
the store where I reguralrly visit
and I have been satisfied.
S9 I would prefer loyality card 0.569
pogramme if it gives me advance
information about events in a store.
S_10 Loyality pogramme will increase my 0.489
purchase frequency from that store
Table III
Pattern Matrix
Variable Variable Marketing of Personal Perceived
Code Description Loyalty Card Factors Value
Experience Related
Prior
S_1 I may take the 0.79 0 -0.05
loyality card
if it is
aggressively
pitched to me
S_7 I will take the 0.62 0.03 -0.05
loyality card if
it comes with no
compulsary
purchases
S-2 I would do most 0.51 0.24 -0.14
of my purchase
from the store
where I have
loyality card
S_4 I would prefer -0.01 0.69 -0.69
a loyality
pogrram in a
store which has
a very wide
variety
S_3 I would prefer 0.20 0.58 -0.55
a loyality card
with a company
which has cross
ties up with
other
orginsation
S_8 I will take 0.32 0.51 0.21
loyality card
only from the
store where I
regularly visit
and I have
been satisfied
S-5 Loyality 0.23 0.34 0.68
pogramme
enhances the
status of
the consumer in
the store.
S-6 Purchasing with 0.14 0.35 0.57
loyality card
will add my
satisfaction in
the store
S-9 I would prefer 0.39 0.16 0.51
loyality
pogramme if it
gives me advance
information about
events in a store
S-10 Loyality pogramme 0.21 0.24 0.50
will increase my
purchase
frequency from
that store
Table IV Factor Correlation Matrix
Factor Factor Label 1 2 3
1 Marketing ofloyaltycard 1.00 0.30 -0.59
2 Personal factors related 0.30 1.00 -0.51
to priorexperience
3 Perceived Value -0.59 -0.51 1.00
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