The Question
QUESTION 1 [10 MARKS] As the market becomes increasingly competitive, Ocean
Basket must develop strategies to retain customers and increase customer loyalty.
Recommend one pure loyalty, push loyalty, pull loyalty, purchase loyalty and purge
loyalty marketing strategy each to Oce...
MNM3709 Assignment 3 (Detailed Answers) Semester 2 DUE 1 October 2024
MNM3709 Assignment 3 (COMPLETE ANSWERS) Semester 2 2024 - DUE 1 October 2024
MNM3709 Assignment 3 (COMPLETE ANSWERS) Semester 2 2024 - DUE 1 October 2024
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Strategic Marketing
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MNM3709
ASSIGNMENT 2
SEMESTER 2
2024
, QUESTION 1: Loyalty Marketing Strategies
1. Pure Loyalty
Strategy: Develop a tiered loyalty rewards program where customers earn
points for every meal purchased.
Application: Ocean Basket can create a mobile app allowing customers to
track points. For example, after collecting 100 points, they can redeem a
complimentary dessert or appetizer. This not only rewards repeat visits but
also increases engagement with the brand, enhancing customer satisfaction
and loyalty.
2. Push Loyalty
Strategy: Implement personalized promotions targeting existing customers.
Application: Ocean Basket can utilize customer data to send exclusive offers
via email or SMS, such as discounts for birthdays. This showcases
appreciation for loyal customers and encourages repeat visits, strengthening
their connection to the brand.
3. Pull Loyalty
Strategy: Create special events focused on customer experiences.
Application: Hosting themed seafood nights, such as "Oysters and
Champagne" evenings, can attract loyal customers eager for new
experiences. These events not only build community but also foster emotion al
connections, leading to increased loyalty.
4. Purchase Loyalty
Strategy: Introduce limited-time offers on selected menu items to inspire
habitual purchasing.
Application: Ocean Basket can have "Seafood Sundays," where specific
dishes are discounted. This encourages customers to form a routine around
dining there every Sunday, enhancing frequency and their overall loyalty to
the brand.
5. Purge Loyalty
Strategy: Target lapsed customers with enticing re-engagement offers.
Application: Ocean Basket might reach out to customers who haven't visited
in a while with a personalized offer, such as a "Come Back" 50% off coupon.
This targets churn effectively, encouraging former patrons to return and
rekindle their connection to the brand.
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