A Study on Factors Influencing the Selection of a Third Party Customer Loyalty Application

Research Paper (postgraduate) from the year 2016 in the subject Business economics - Marketing, Corporate Communication, CRM, Market Research, Social Media, grade: A, Institute of Computers and Business Management -School of Business Excellence, language: English, abstract: Today, every business wants to have loyal customers, as it knows that loyal customers provide more benefit than non-loyal ones. Therefore, to retain their existing customers and make them loyal, the businesses have understood the importance of customer loyalty programs. But they are unable to develop and maintain an appropriate loyalty program. Therefore, the aim of this study is to understand the importance of customer loyalty application provided by third party and to determine the various factors which influence the decision of the merchants to select a customer loyalty application provided by third party. To achieve the objectives, data from various merchants was collected. The research methodology used in this research report is quantitative in nature, where primary data was collected from respondents using structured questionnaire. The respondents were asked various questions, where few questions were open-ended questions, some questions had multiple options, and the remaining questions were to be rated on a Likert scale. The data collected was analyzed using the SPSS tool. Two types of analysis were performed on the data: Frequency Analysis and Factor Analysis.