publication . Article . 2009

Loyalty programs challenges in retail banking industry

Ivanauskienė, Neringa; Auruškevičienė, Viltė;
Open Access English
  • Published: 01 Jan 2009 Journal: Ekonomika ir vadyba, volume 2,009, issue 14, pages 407-412 (issn: 1822-6515, Copyright policy)
The purpose of this paper is to examine the challenges of loyalty programs in retail banks in Lithuania. Case study methodology was chosen to analyze the loyalty programs launched by various banks to show how banks are building the loyalty of individual customers and what challenges these banks face. The findings suggest that the majority of analyzed loyalty programs reward a repeat purchasing. Lithuanian retail banks launching loyalty programs for two customer segments - the potentially profitable customers and customers who are willing to keep money in bank accounts. Most of the retail banks loyalty programs offer their customers only a discount on the transac...
free text keywords: Lithuania ; loyalty ; loyalty programs ; retail banking
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