BACHELOR OF BUSINESS ADMINISTRATION

Detailed explanation-1: -Here’s what the researchers learned: Customers sharply increase spending when they have the chance to earn rewards right away. Customers who opted in to the “Instant Cash” program spent 68% more in the next two weeks than customers who weren’t getting those instant rewards.

Detailed explanation-2: -Loyalty programs drive customer retention, which can help organizations generate revenue, increase referrals and achieve overall growth. Organizations typically generate most of their revenue from existing customers, which requires less overhead than revenue from new customers.

Detailed explanation-3: -The airline loyalty programs, also called frequent-flyer programs (FFP), are offered by many passenger airlines to keep their customers loyal to them.

Detailed explanation-4: -Loyalty programs provide two key functions: They reward customers for their repeated patronage, and they provide the issuing company with a wealth of consumer information and data.