TRUSTWORTHINESS OF STOCKPILE ENCOURAGES SALES AND CUSTOMER LOYALTY- A CASE ON GROCERY MARKET OF METR

International Journal of Mechanical and Production Engineering Research and Development (IJMPERD) ISSN (P): 2249–6890; ISSN (E): 2249–8001 Vol. 10, Issue 3, Jun 2020, 2575-2584 © TJPRC Pvt. Ltd.

TRUSTWORTHINESS OF STOCKPILE ENCOURAGES SALES AND CUSTOMER LOYALTY- A CASE ON GROCERY MARKET OF METROPOLITAN Dr. SILBERT JOSE S. V, VARLY LUTHRA & MADHUSUDHANAN. R Assistant Professor, Department of Management, Kristu Jayanti College, Bangalore, India ABSTRACT Loyalty cards are the cards issue by the company, business or retailers to the customers for recording the rewards which customers can earn for buying goods & services. With the help of loyalty cards, the retailers can easily find out the customers details, purchasing patterns and it helps in getting loyalty from customers in terms of regular purchases as customers are getting discounts and offers which helps them for future purchases. This promotion technique now days most of the businesses are using it is customer friendly as they no need to carry cards they can get rewards and discounts while billing. This paper seeks to get the impact of loyalty cards on customer loyalty. This study is based on both primary and secondary data and factor analysis. Regression analysis used by the researcher for the data interpretation.

KEYWORDS: Loyalty Cards, Customers, Promotion Techniques, Retailers & Factor Analysis

INTRODUCTION The loyalty and commitment from the customer is developed where the customers and business get benefits is known as Customer relationship management. The concept of relationship is focused on customer and their needs.

Now a day’s business is using loyalty cars as a relationship tool. Loyalty cards are the cards issue by the company,

Original Article

Received: Jun 04, 2020; Accepted: Jun 24, 2020; Published: Jul 08, 2020; Paper Id.: IJMPERDJUN2020242

business or retailers to the customers for recording the rewards which customers can earn for buying goods & services. Customer loyalty is the base for business development and it helps business to improve brand image. If the business earns the trust of loyal customers and they acts as promotion tool and it motivates others. When the customers gets rewards they prefer to buy from them and it increase or improve customer loyalty.

Customer Loyalty Customer Loyalty is the measure of success of the supplier in retaining a long term relationship with the customer.

Thus customer loyalty is when a supplier receives the ultimate reward of his efforts in interacting with its customer.

Customer loyalty tends the customer to voluntarily choose a particular product against another for his need. The loyalty may be product specific or it may be company specific. When a loyal customer has repetitive requirement of the same product, such customers may be described as being ‘brand loyal’. On the other hand he may also require different products of the same manufacturer. That is to say he makes significant purchases direct from the same supplier and that counts as the company specific loyalty.

Loyalty also means that customer is sticking to the supplier on certain grounds though he may be having other options also. It may be possible that the supplier may not have the best product or the customer may be having some problems with the supplier in respect of his supply of the product but the customer likes to ignore other options and prefers to continue with the same supplier as the customer thinks the supplier provides him more value

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and benefit than others. Such loyal customers tend to spend more money buy more, buy longer and tell more people about the product or supplier. This type of long-term customer loyalty can only be created by making the customers feel that they are number one priority with the supplier.

Loyalty is demonstrated by the actions of the customer. But it doesn’t mean that the customer satisfaction level can measure his loyalty. Customer loyalty is not customer satisfaction. Customer satisfaction is the basic entry point for a good business to start with. A customer can be very satisfied with the deal and still not be loyal. On the other hand a customer may not express satisfaction but wants to remain loyal to the supplier due to some reasons which keeps him benefited from that supplier. For the same degree of satisfaction, the loyalty level may also be different for different suppliers.

Customer Loyalty and Satisfaction Most of the organizations have murkiness in considering customer loyalty and satisfaction. They feel that both are same and a satisfied customer is always loyal to them. But this is not true as the customer can be delightfully satisfied but he may be or may not be loyal. This is because satisfaction an emotional and slushy feeling over the job done. But loyalty is related to the action taken by the customer future. There can be following two combinations of aspect when satisfaction and loyalty are treated together:

1.

Satisfied but Disloyal Customers: A customer can be fully satisfied but may not be loyal due to following reasons:

a.

Entrepreneur Customer: These types of customers like to experiment a lot and hence try to create various

options for them to get more benefits. So even if they are satisfied they diverge to other options available in the market.

b.

Pressure from Competitors: Due to the pressure in market the customer tends to follow the competitors path and

divert from the existing supplier to remain sustain in the global marketplace.

c.

Out-dated Suppliers: The customer may be satisfied with the existing customers but sometimes feel that the

product and services he is using are outdated in market. Due to the changing technology there is always a need to update the technical aspects and product features even if the old products and services are satisfactory. Focusing on these facets the customers normally go to other suppliers for his new requirements.

2.

Unsatisfied but Loyal Customers: The other abnormal situation is when the customer is loyal but is unsatisfied.

The reasons for this are following:

a.

Lack of available options: There can lack of options available for customers. This situation arises when the

existing supplier is having a monopoly in a particular segment of products or when all other competitors are worse than the existing supplier. The customer feel trapped in this type of situation and is forced to be loyal to the supplier but at the end of the day he will be an unsatisfied customer.

b.

Improved Supplier: In another situation the suppliers may take the customers in confidence by convincing them

to provide improved products and services in the coming future. This is an important tactic that supplier implement in their marketing strategy to become customer centric and to have customers stick to them and be loyal. To remain in a healthy relationship the customers also remain loyal but have a feeling of dissatisfaction beneath. But finally if the supplier continuously supply degraded products and services the customer could easily divert from them in search of better

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prospects.

c.

Customer Inertia: There are some customers who afraid to change the supplier. Even if they have bad experience

with the supplier, they continue to have business with them. This may be due to the emotional and business attachments or bonding of customers with those particular suppliers. There could be many others reason for this like, the customers’ feel reluctant to face the complexity of the process of changing their way to other suppliers and prominently when they already have a long term relationship with their suppliers. Under this situation the customer tries to ignore the feelings of being unsatisfied and remain loyal to them.

Drivers of Customer Loyalty Attitude: A customer to bear on his loyalty can have following types of attitude Emotional and sentimental- Some customers stick to a particular supplier due to the emotional and sentimental attachments with that supplier. This attachment may be due to the physical location of the supplier, product pattern provided by the supplier that exactly suits customer or may be due to the esteemed assistance and services provided by him. This type of bonding enhances customer loyalty and it is very difficult to break this bonding under any circumstances.

Rational Type- Such type of customer makes purchase decision rationally. Before making any purchase they evaluate the suppliers and assess the profitability criteria.

Entrepreneur Type- These types of customers have a habit to try new options. Their decision to choose supplier is normally irrational and can change their loyalty to other suppliers even if they are satisfied with existing customers. It’s difficult for the supplier to retain or manage these types of customers as no situation could bind them.

Product and services: Following are the important aspects of product and services that could substantially help in retaining loyalty of customers Differentiated Products and Services- Differentiation in products and services help the organization to reduce competition in market and have substantial influence on customers’ mindset.

Multiple Products for the Same Customer- By manufacturing multiple products for the same customer enhances the relationship with customer which increases loyalty. If the customer is loyal towards any one brand then there are good chances to retain his loyalty for whole range of brands.

High Service Component- The products having a high service component captures more customer loyalty. This is because the customer does not want to experiment with other products provided by different supplier. Hence they become loyal to the existing customer due to the provision of high service components. The technological aspects of product manufactured by the supplier plays a vital role in customer loyalty. The more products are technologically sound, more is the loyalty.

Human Resources: Organizational human resource plays a vital role in marketing segments where customer comes in direct contact. In some consumer sectors like household and automobiles, the customer gets a chance to evaluate capability of organizational human assets. If the customer evaluates these human assets as useful and is influenced by the aspects then he develops a positive feeling against the supplier who possess these enhanced human assets.

Supplier’s Culture: Supplier’s culture is most important driver of customer loyalty. In consumer sector this culture means quality and in core sector it can be related to technology. For example, in US ‘Friedrich’ has ranked with good www.tjprc.org

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quality, enhanced design and user friendly features which have created brand loyalty. In Indian the supplier of almost all the dairy product called ‘Amul’ has pursued customer loyalty because of their overall culture. In core sector the image of the supplier is the biggest driver of loyalty. This image could add a status symbol for most of the customers. ‘Mercedes’ automobiles and ‘RayBan’ sun-glasses are example of this. The customers uses these products only for maintaining or enhancing their lifestyle and always be loyal to the brand.

LITERATURE REVIEW Singh & Khan (2012) highlighted how short term actions with few modifications with the profit will turn into long term customer loyalty and hence long term benefit. The authors were focusing on understanding the customer retention and customer loyalty and their importance to the business. The authors also understand the approach of how to increase customer retention and customer loyalty towards the business. With the understanding of the behavior of the customers and satisfying them provides the benefit to the business in the long term. Establishing good relationship with the customers by providing better services will create customer loyalty and more visits over time. This will bring more profit to the business in long-term and will reduce the competition. The study also identified the strategies which attract the customers to the retailer and also understood the considerations to be done while implementing them. With this, it will help the business to gain customer retention and loyalty towards their business if they implement them diligently. (Singh & Khan 2012) Agchi & Xingbo (2011) identified a moderator, step-size ambiguity, and addresses that when ambiguity is high, only reward distance affects loyalty programs. When ambiguity is lower, consumers integrate step size with reward distance. The physical and psychological distance estimation contexts (e.g., weight loss, savings) where distances and step sizes can vary (e.g., as a function of units: kilograms vs. pounds), but especially in loyalty rewards contexts. (Bagchi & Xingbo 2013) Omar et al. (2009) pointed out that the introduction of customer relationship marketing instruments by retailers has been strongly increased in recent years both in theory and practice. Loyalty programs have become a popular choice of marketing strategy by retailers who believe that loyalty programs are an important strategy and mechanism for retailers to build store traffic, increase basket size and increase frequency by creating deeper relationship with their customer.

However, some members in the marketing industry have begun to question the effectiveness of loyalty programs in obtaining customers’ support and loyalty. The authors reported on the results of a preliminary study of the literature which has been conducted in an attempt to understand the issue and role of service quality in retail loyalty programs as well as factors that are important in loyalty program service quality.

East et al. (2005) defined Consumer loyalty as a singular concept, usually as an attitude toward the loyalty object or as repeat patronage behavior. The definition may combine attitude and behavior in either an additive or an interactive expression. The authors argue that definitions of loyalty are useful if they predict phenomena such as recommendation, search and retention (loyalty outcomes). The findings of the study addressed that in three consumer fields, the combination measures of customer loyalty often perform poorly as predictors of loyalty outcomes compared with singular measures since recommendation is predicted by attitude but not by repeat patronage. Retention and search behavior are predicted better by repeat patronage than by attitude. The prediction of loyalty outcomes is not improved by the inclusion of an interaction term in the model. The combination concepts of loyalty are of limited value. And there is no form of loyalty that consistently predicts all the different loyalty outcomes and, so they abandon the idea of a general concept of loyalty.

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Lewis (2004) developed a model for customers’ response to a loyalty program under the assumption that purchases represent the choices of customers who are solving a dynamic optimization problem. This theoretical model is using a discrete-choice dynamic programming formulation. The author relies on specific loyalty program with data from an online merchant that specializes in grocery and drugstore items. The results suggest that the loyalty program under study is successful in increasing annual purchasing for a substantial proportion of customers. Loyalty programs have an important effect on customer relationship management for firms in travel related industries such as airlines, hotels, and rental cars.

(Lewis, 2004) Kopalle and Neslin (2003) have proposed analytical models to study the impact of loyalty programs in categories with different structures.

Deighton (2000) addressed that information technology enables firms topractice individual-level marketing which help the wide spread of loyalty programs into several industries such as: gaming, financial services, and retailing. In order to investigate the conditions under which a loyalty rewards program will have a positive effect on customer evaluations, behavior, and repeat purchase intentions, Kannan & Bramlett (2000) used cross-sectional, time-series data from a worldwide financial services company that offers a loyalty rewards program. The results show that members in the loyalty rewards program discount negative evaluations of the company in comparison with the competitors. One possible reason could be that members of the loyalty rewards program admit that they are getting better quality and service for their price or, in other words, “good value.” The authors also estimated a model of the influence of a loyalty rewards program on customers’ decisions to repurchase a service and their decisions about how much to use the service. The model focused on the multiple direct and indirect effects of loyalty programs on these two dependent variables. Using the model will help in estimating the effectiveness of a loyalty program in customer retention. (Kannan & Bramlett, 2000) Henning & Klee (1997) focused at the customer satisfaction with a company’s product or services as it is the key to company’s success and long-term competitiveness. The author considered customer satisfaction a central determinant of customer retention. The overall purpose of this study is to develop a conceptual foundation for investigating the customer retention process, with the use of the concepts of customer satisfaction and relationship quality. The study has a critical examination of the satisfaction-retention relationship, and the development of a comprehensive view of the customer’s quality perception.

Dowling and Uncles (1997) explained that there are three primary lessons from the research they did. First, a major reason for launching of many customer loyalty programs is competition. Second, if a loyalty program does not support the product or service value proposition, it might be justified in attracting more distributors to deal with the product.

Third, brand loyalty is more likely to come from the market.

OBJECTIVES OF THE STUDY



To understand about the purchasing power of customer through loyalty cards.



To know about the customer response on loyalty cards and stores loyalty



To analyze the customer loyalty and sales distribution.

RESEARCH METHODOLOGY The study took place in Bangalore, the capital city of Karnataka with the participation of 100 metro consumers. All of the www.tjprc.org

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respondents in the study were 18 years or older. A mall-intercept approach was adopted in the data collection a total of 100 surveys were conducted face-to-face at three selected shopping malls in a large metropolitan area. These malls were specifically selected because they had stores that do offer customer loyalty cards as well as those that do not. To avoid systematic biases, recruiters paid attention to selection criteria based on cross-cultural balance, gender, age distribution, day of week, and time of day.

The survey composed of 20 questions and was divided into two sections 07 demographic and 13 from the subject.

In the first section, demographic items were included to obtain information regarding respondent’s age, gender, education and income. These demographic variables helped to explain different consumption behaviors of different types of consumers. In the second section, items were asked regarding the concept of store loyalty cards and other factors that may have an effect on customers’ store loyalty.

Method When all of the 100 surveys were compiled, the data was coded and entered. The coded data was sorted and analyzed by SPSS program. Chi-square analysis was used to examine the loyalty card use and store loyalty variables.

Hypothesis H1: Loyalty cards have an impact on customer’s stores loyalty H01: There is no relationship between the frequency of loyalty card usage and age.

H02: There is no relationship between the frequency of loyalty card usage and gender.

H03: There is no relationship between the frequency of loyalty card usage and income level

RESULTS AND DISCUSSIONS Allocation of Subjects According to Age Groups Age Groups Number of Respondents % Value 18-24 30 30.0 25-29 36 36.0 30-34 12 12.0 35-39 10 10.0 40 and older 12 12.0 Total 100 100 In the study, age categories have been divided into 5 groups. Based on this, 30.0 percent of the subjects are in 1824 age group, the 36.0 percent of the subjects are in 25-29 age group, the 12.0 percent of the subjects are in 30-34 age group, 10.0 percent of the subjects are in 35-39 age group, and finally the 12.0 percent of the subjects are in 40 and older age group.

Allocation of Subjects According to Gender Gender Female Male Total

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Number of Respondents 65 35 100

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% value 65.0 35.0 100

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According to the gender results, 65 percent of the 100 respondents were female customers and 35 percent of the respondents were male customers Allocation According to the Frequency of Loyalty Card Usage Frequency of Loyalty Card Usage Everyday 2-3 times a week Once a week Once every two weeks Once a month Total

Number of Respondents

% Value

15 55 10 10 10 100

15 55 10 10 10 100

According to the frequency of loyalty card usage, 15 percent of the customers in the study claim they use their loyalty cards every single day, whereas almost 55 percent use it 2-3 times a week. 10 percent take advantage of their loyalty cards once a week, and 10 percent state they use their cards once every two weeks. The remaining 10 percent use their loyalty cards once a month.

Allocation of Loyalty Cards Based on their Benefits Benefits of Loyalty Cards Providing discounts in specified time periods Providing discounts in specified time periods Providing discounts in specified time periods Providing discounts in specified time periods Providing cash awards/gift certificates

1 40 32 10 10 8

Ranking % 2 3 4 30 31 41 34 41 21 13 8 21 10 11 10 13 9 7

5 28 31 21 12 8

When the respondent customers in the study were asked to rank the importance of benefits they get from their loyalty cards, 40 percent identified receiving discounts in specific time periods as the most important benefit the loyalty card provides them. 32 percent stated that being notified about upcoming discounts/ promotions in the store was a major benefit of the loyalty cards. 10 and 08 percent of the customers listed receiving an assortment of prizes and gift certificates as a major benefit respectively.

Allocation of Factors that May Impact Store Loyalty Allocation of Factors That May Impact Store Loyalty Transportation Convenience Parking Availability Store Hours of Operation Quality of Products Sufficient Number of Sales people Ease of Product Return Store’s Attractive Interior Design Availability of Assortment of Products Salespeople Attitude toward

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2

3

4

5

6

7

8

9

10

25.6 22.1 18.7 23.3

7.7 11.2 3.8 18.5

11.7 8.8 3.7 7.4

8.0 15.7 14.6 8.1

10.7 8.4 6.3 12.3

11.9 11.2 14.7 8.2

13.5 9.2 13.7 11.9

5.3 3.5 10.3 3.2

2.3 5.3 7.7 4.1

3.3 4.6 6.5 3.0

21.1

4.8

6.3

5.8

8.2

5.1

9.6

17.7

9.8

11.6

15.1

15.5

6.9

9.9

19.7

7.5

11.3

6.9

3.5

3.7

14.3

10.5

17.7

1.6

7.3

3.5

14.2

17.8

5.9

7.2

27.3

13.9

7.9

6.8

7.8

10.6

10.5

5.7

4.3

5.2

25.1

3.9

12.5

14.1

5.5

10.1

8.7

10.0

3.4

6.7

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Customers Store Security

15.9

6.3

7.2

6.3

12.9

7.2

10.0

12.5

15.5

6.2

When inquired about other factors that has an impact on store loyalty, consumers classified availability of a wide assortment of products, salespeople’s positive attitudes and ease of transportation as their top factors. Quality of products and ample parking space were also mentioned among the factors that influence customer store loyalty.

Findings The main hypothesis of this study centered on evaluating the impact loyalty cards have on customers’ store loyalty. Based on the performed analysis, it is observed that the probability value (∝=0, 05) is smaller than the level of significance.

Therefore, we reject H1 hypothesis and conclude that the most prominent finding of this research is that loyalty cards do not promote store loyalty. Frequent loyalty card users (% 55) were found to be less loyal.

For the analysis of H01 hypothesis, the probability value (∝=0, 05) is smaller than the level of significance. Thus, we reject H 01 hypothesis and state that there is indeed a relationship between a customer’s store loyalty and his/ her age.

For H02 hypothesis, it is observed that the probability value (∝=0, 05) is greater than the level of significance.

We accept this hypothesis and confirm that the gender of a customer has no influence on his/her store loyalty. On the other hand, H03 hypothesis is rejected because the analysis suggests that a customer’s income level has an impact on store loyalty.

CONCLUSIONS This research aimed to identify whether loyalty cards issued by stores have an impact on customer loyalty and how loyalty cards compare with other factors companies can use to increase loyalty in general. Loyalty programs are found everywhere but their true value still remains vague in many cases. There is no doubt that the loyalty cards have certain benefits for managers as well as customers. Companies are able to gather some very useful information about their consumers and they benefit from this accumulated knowledge as they develop marketing strategies. By doing so, companies are able to segment their markets more effectively, serve their target markets more successfully. Customers feel they benefit more by visiting a variety of stores and utilizing a range of cards. Then the important issue is what companies must do to make their cards a “truly loyal” one. There must be a unique benefit they provide to the consumer to keep them coming back to the same store over and over again; perhaps a cumulative reward system would do the trick. Another possibility would be joining forces with other retailers. Multi-merchant loyalty coalitions are quite common in most countries including Turkey.

Customers enjoy the assortment of benefits these different retailers provide. That is why these multi-merchant membership programs are getting bigger and more popular. Loyalty cards are quite an important component in a whole program of efforts designed to increase customer commitment to a store. They represent the opportunity to build long term customer loyalty. But they are not the sole factor in a customer’s store loyalty development. Results of this study show that customers also focus heavily on the availability of a wide assortment of products, salespeople’s positive attitudes and ease of transportation as their top factors for developing store loyalty. Therefore, companies have to take the whole package into consideration. They must aim to build a connected network of customers, partners and vendors, enabled by technology, all working towards profitable and mutually beneficial relationships.

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