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“ Bullseye Buyers” Target Frequent Buyer Program

“ Bullseye Buyers” Target Frequent Buyer Program. TM. Sarah Ely. Senior Marketing St. Louis (Hazelwood) Retail Experience: Interned at Hallmark headquarters and worked on a Target product reset. Taylor Monaco. Senior Marketing Kansas City (Lee’s Summit) Retail Experience:

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“ Bullseye Buyers” Target Frequent Buyer Program

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  1. “Bullseye Buyers” Target Frequent Buyer Program TM
  2. Sarah Ely Senior Marketing St. Louis (Hazelwood) Retail Experience: Interned at Hallmark headquarters and worked on a Target product reset.
  3. Taylor Monaco Senior Marketing Kansas City (Lee’s Summit) Retail Experience: Interned at advertising agency where produced ads for local retail companies
  4. Jessica Jennings Junior Marketing Columbia Retail Experience: Interned with Honda to design and develop a marketing campaign
  5. Ryan Williams Senior General Studies St. Louis (Manchester)
  6. Frequent Buyer Programs “Recurring Goals and Learning: The Impact of Successful Reward Attainment on Purchase Behavior” Journal of Marketing Research April 1, 2011 2009: 1.8 Billion Memberships Household Participation: 6.2 Programs “In general, research supports a positive connection between loyalty programs built on rewards and customer retention.” Ex. Frequent Flier, Starbucks, Panera
  7. Survey 93 Responses Age Range of 19-22 Male and Female Fielded from April 13th - April 17th Columbia
  8. Survey Results 56% are currently enrolled in at least one frequent buyer rewards program 68.1% Retail 29.8% Grocery 23.4% Department 14.9% Convenience/Drug Store
  9. Target REDcard Debit Card, Credit Card, or Visa Credit Card 5% Off Your Purchase Free Online Shipping Help Education with 1% of Purchases Pharmacy Rewards, Extra 5% Off
  10. Current SWOT Analysis Strengths Weaknesses Build Consumer Loyalty Consumer Data Cross-Channel Online Management Interest Rates and Penalty Fees Target National Bank Complaints Cannibalization Opportunities Threats Remain Competitive Corporate Responsibility Competitive Programs Consumer Limit on Credit Cards
  11. Target REDcardStrengths Build Consumer Loyalty Discounts on Every Purchase Consumer Data Cross Channel Online Management Weaknesses Interest Rates and Penalty Fees Target National Bank Complaints Narrow Target Market Cannibalization
  12. Target REDcardOpportunities Remain Competitive Corporate Responsibility Threats Competitive Programs Consumer Limit on Credit Cards New Program
  13. Survey Results “Do you prefer credit card rewards programs or frequent buyer rewards programs?” Credit Card Rewards Programs 25.6% Frequent Buyer Rewards Programs 74.4%
  14. Survey ResultsRetailer Credit Card Concerns “I don’t like having many credit cards.” “High interest rates on most retail credit cards” “Privacy” “Hidden fees and online glitches with payments” “Overspending; not being responsible with purchases in an attempt to gain more rewards”
  15. Credit Card Rewards Program vs. Frequent Buyer Rewards Program
  16. Our Proposal As proven by the success of its current REDcard rewards program, we suggest that Target adds a frequent buyers program, “Bullseye Buyers,” for its secondary consumers and those primary consumers who are credit card averse. “Bullseye Buyers” will expand Target’s database of consumer information and in effect, increase store traffic.
  17. “Bullseye Buyers” TM
  18. Bullseye Buyers Registration TM In-Store and Online Activation Register Card
  19. bullseye buyers
  20. Account Activation Returning Member Login New Member Email Card Activation Code Password Need a Card? Link with REDcard
  21. Card and Key Chain Tag
  22. Card and Key Chain Tag
  23. Manage Your Account Account for Tracking Rewards my Rewards Link with Target REDcard, TargetLists, and Registries TargetLists Registries
  24. Best Buy Reward Zone Reward Certificates Earn 1 Point for Every $1 You Spend Accumulate 250 Points and Receive a $5 Reward Certificate Member-Only Promotions Special Events
  25. Safeway Savings Club Plastic Card Issued to Frequent Shoppers Members-Only Discounts Product Manufacturers Primary Shoppers $1 off in Cookie Department Secondary Shoppers $1 off in Meat or Produce Department Personal Recognition
  26. Target Bullseye Buyers TM Automatic Reward Coupon Price Points $100 – Coupon 1 $300 – Coupon 2 $500 – Coupon 3 $700 – Coupon 4 Awarded Bi-Weekly Middle and End of Month Monthly Renewal Bullseye Bonus TM
  27. Bullseye Bonus TM Birthday Rewards Product Releases Seasonal Back to School Summer
  28. Carla’s Target List Diapers Goldfish Soda Granola Bars Baby Wipes Tide detergent Toilet Paper Paper Towels Cookies Cheerios Disinfectant
  29. Primary Buyer: Carla Frequent Shopper (at least once per week) Three Children Stay-at-Home Mom Mostly Shops In: Grocery, Home Goods First Coupon: $2 Off Diapers Subsequent Coupons: Retail and Electronics
  30. Carla’s Target List Diapers Goldfish Soda Granola Bars Baby Wipes Tide Detergent Toilet Paper Paper Towels Cookies Cheerios Disinfectant Total: $120 $2 20% Purchase of select Merona products
  31. Andy’s Target List Video Games Running Shorts DVD School Supplies Granola Bars Deodorant Pet Food USB Drive Socks
  32. Secondary Consumer: Andy College Student Athletic Occasional Shopper (Twice Per Month) Mostly Shops In: Electronics, Active Wear First Coupon: $1Off Headphones Subsequent Coupons: Food, Personal Care
  33. Andy’s Target List Video Games Running Shorts DVD School Supplies Granola Bars Deodorant Pet Food USB Drive Socks Total: $50 Buy 1, Get 1 Free Purchase of select Coca-Cola products $1 Purchase of JVS headphones
  34. TargetLists Registries
  35. TargetLists Registries
  36. Coupons
  37. Promotion: Website Banner Ads Buyers Buyers
  38. Promotion: Social Media
  39. Promotion: Social Media
  40. SWOT Analysis Strengths Weaknesses Broader Consumer Market Increase Consumer Data Online Account Target Costs Competition with Target REDcard Cannibalization of Target Shoppers Opportunities Threats Leveraging Cross-Department Reward Leader in Discount Retailer Frequent Buyer Program Competitor Reward Programs Market Saturation of Reward Programs
  41. Strengths Broader Consumer Market Primary and Secondary Compliment REDcard Increase Consumer Data Tailor Special Deals Online Account Check Rewards, Annual Deals Link with TargetLists and Registries
  42. Weaknesses Target Costs Competition with Target REDcard Cannibalization of Target Shoppers
  43. Opportunities Leveraging Cross-Department Rewards Convenience Leader in Discount Retailer Frequent Buyer Programs
  44. Threats Grocery Reward Programs Safeway, Kroger Retail Rewards Programs Best Buy, American Eagle Outfitters Credit Card: Walmart, Kmart Department Stores Rewards Sears Credit Card: Macys, JCPennys, Sears Market Saturation of Reward Programs
  45. Bullseye Buyers Summary TM Industry Success Unique Program Discount Retailer Product Variety Broad Target Market Target REDcard Consumer Data Online Account
  46. The End
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