Presentation on theme: "“Bullseye Buyers” Target Frequent Buyer Program TM."— Presentation transcript:
“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: Interned at advertising agency where produced ads for local retail companies
Jessica Jennings Junior Marketing Columbia Retail Experience: Interned with Honda to design and develop a marketing campaign
Ryan Williams Senior General Studies St. Louis (Manchester)
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
Survey 93 Responses Age Range of 19-22 Male and Female Fielded from April 13 th - April 17 th Columbia
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
Survey Results Retailer Credit Card Concerns “I don’t like having many credit cards.” “Overspending; not being responsible with purchases in an attempt to gain more rewards” “High interest rates on most retail credit cards” “Hidden fees and online glitches with payments” “Privacy”
Credit Card Rewards Program vs. Frequent Buyer Rewards Program
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.
Manage Your Account Account for Tracking Rewards ◦ my Rewards ◦ Link with Target REDcard, TargetLists, and Registries TargetLists Registries
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
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
Bullseye Bonus Birthday Rewards Product Releases Seasonal ◦ Back to School ◦ Summer TM
Carla’s Target List Diapers Goldfish Soda Granola Bars Baby Wipes Tide detergent Toilet Paper Paper Towels Cookies Cheerios Disinfectant
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
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
Andy’s Target List Video Games Running Shorts DVD School Supplies Granola Bars Deodorant Pet Food USB Drive Socks
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
Andy’s Target List Video Games Running Shorts DVD School Supplies Granola Bars Deodorant Pet Food USB Drive Socks Total: $50 Purchase of JVS headphones $1 Purchase of select Coca-Cola products Buy 1, Get 1 Free
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