Browsing by Author "Fonseca, Filipa Alves Carriço de Freitas"
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- Improving FNAC's loyalty program through strategic partnerships : incorporating customer preferences and optimizing marketing strategiesPublication . Fonseca, Filipa Alves Carriço de Freitas; Soares, Fátima Patrícia Nunes da Encarnação Marques DiasNowadays, consumer loyalty and brand retention are increasingly important, since with a saturated market and consumers having more choice between different brands than ever before, this is becoming one of the most challenging objectives for brands. It is therefore essential for brands to develop effective strategies to achieve customer loyalty. Thus, partnership programs have emerged as one of the strategies used by several companies in different sectors. These programs have proven to be highly effective, as they enable members of the loyalty program to enjoy advantages both inside and outside the company's facilities. However, each brand has different members, and it is of paramount importance to understand them and their preferences so that these programs are adapted to their interests and needs. The more these interests are fulfilled by the company, the more aware and engaged with the partnership program the members are. Communication emerges in this process as a promoter of member awareness and engagement, and it is an indispensable strategic tool for companies that decide to incorporate partnerships into their customer loyalty program. This Internship Report implemented a mixed-methods study, including direct observation, benchmarking, and a questionnaire, to analyze a retail company, FNAC Portugal, and explore the best practices for improving its partnership program and, consequently, its communication with FNAC Card members. The results showed that the company has a well-established partnership program, with more than 100 partners, however many of the members are not aware of the partner network and don't use it either, showing that there is a problem both in the value they place on partnerships and in the communication made about them. It was possible to see that although most members are engaged in the program, a significant proportion report that they want a greater diversity of brands included in the program and need more information about it, and they prefer email (newsletters) for this communication. This research adds new clues to the scarce literature on this topic, drawing on FNAC's best practices and the suggestions of its members to provide some lessons on how to improve the program and its communication with members. Applying these practices can benefit both companies with loyalty program partnerships and their members.