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)
Abstract
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...
Subjects
free text keywords: Lithuania ; loyalty ; loyalty programs ; retail banking
20 references, page 1 of 2

Berman, B. (2006). Developing an Effective Customer Loyalty Program. California Management Review, Vol. 49, No.1, pp.123-148.

Colgate, M., Hedge, R. (2001). An Investigation into the Switching Process in Retail Banking Services. [OpenAIRE]

International Journal of Bank Marketing, Vol. 19, Issue: 5, pp. 201-212.

Dekimpe, M.G., Steenkamp, J.B., Mellens, M., & Abeele, P.V. (1997). Decline and Variability in Brand Loyalty. [OpenAIRE]

International Journal of Research in Marketing, Vol. 14, No 5, pp. 405-420.

Dick, A., & Basu, K. (1994). Customer Loyalty: Toward an Integrated Conceptual Framework. Journal of the Academy of Marketing Science. Vol. 22, No. 2, pp. 99-113.

8. Ferguson, R., & Hlavinka, K. (2007). Choosing the Right Tools for Your Relationship Banking Strategy. Journal of Consumer Marketing. Vol. 24, No. 2, pp. 110-117. [OpenAIRE]

9. Foo, M-H., Douglas, G. & Jack, M.A. (2008). Incentive Schemes in the Financial Services Sector. International Journal of Bank Marketing. Vol. 26, No. 2, pp. 99-118.

10. Gee, R., Coates, G., & Nicholson, M. (2008). Understanding and Profitably Managing Customer Loyalty. Managing Intelligence & Planning. Vol. 26, No. 4, pp. 359-374.

11. Gustafsson, A., Johnson, M. & Roos, I. (2005). The Effects of Customer Satisfaction, Relationship Commitment Dimensions, and Triggers on Customer Retention. Journal of Marketing. Vol. 69, pp. 210-218.

12. Heffernan, T., O'Neill, G., Travaglione, T., & Droulers, M. (2008). Relationship Marketing. The Impact of Emotional Intelligence and Trust on Bank Performance. International Journal of Bank Marketing. Vol: 26. No. 3. pp.183-199.

13. Holland, C.P., Westwood, J.B. (2001). Product Market and Technology Strategies in Banking. Communications of the ACM. Vol. 44, No: 6, pp. 53-57.

14. Meyer-Waarden, L. (2008). The Influence of Loyalty Programme Membership on Customer Purchase Behaviour. European Journal of Marketing. Vol. 42, No. ½, pp. 87-114.

15. Nunes, J.C., Dreze, X. (2006). Your Loyalty Program is Betraying You. Harvard Business Review.

16. O'Malley, L. (1998). Can Loyalty Schemes Really Build loyalty? Marketing Intelligence and Planning. Vol. 16. No: 1. pp. 47-55.

20 references, page 1 of 2
Powered by OpenAIRE Research Graph
Any information missing or wrong?Report an Issue