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Loyalty marketing entrepreneurial opportunities in Greece: A grocery Retailers' perspective

Proceedings article published in 2014 by Naoum K. Tsolakis, Charalampos Ath Tziogas
This paper is available in a repository.
This paper is available in a repository.

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Preprint: policy unknown
Question mark in circle
Postprint: policy unknown
Question mark in circle
Published version: policy unknown

Abstract

The Greek economic recession has a major impact on retailers. Their sales have been declined dramatically and are unable to keep their customers engaged. The main reason is the high taxation and the consequent reduction on the population's income. Traditional marketing efforts seem to have no positive effect towards the sales volumes, and retailers and suppliers struggle to find new ways of attracting customers and retain their sales at reasonable levels. The solution can be a loyalty marketing services provider which will assist corporations in gaining insight about their customers, current and prospective ones. Nevertheless, it is imperative that retailers put aside the product-centric and profits-centric orientation they were used in utilizing during the last decade. They have to establish a customer-centric philosophy throughout their operations to manage withstand the current dismal economic situation. Kotler explains that the "80-20 Rule" is valid in the marketing industry, and is even more pronounced for the B2C channels. However, companies confront many difficulties in communicating and interacting effectively with their customers. To that end, a specific loyalty marketing services' provider could offer to its corporate clients the expertise to grow and retain their customer base by providing unparallel services tailored to the expectations of each individual customer. Therefore, this study provides a literature review of the loyalty marketing sector and further aims in analysing the market, operational and financial feasibility of a conceptual a loyalty marketing agency called CuSight, tailored to the needs of the Greek grocery retailers.