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Credit Card Acquisition Program at Goody’s Family Clothing Carrie Beasley Writing 465 April 22, 2004.

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Presentation on theme: "Credit Card Acquisition Program at Goody’s Family Clothing Carrie Beasley Writing 465 April 22, 2004."— Presentation transcript:

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2 Credit Card Acquisition Program at Goody’s Family Clothing Carrie Beasley Writing 465 April 22, 2004

3 Background Goody’s Family Clothing PLCC Significance of having store credit card accounts

4 Background (Cont.) Each store is required to obtain a set amount of credit cards each month. The store manager of each store implements a plan for their individual store for acquiring new accounts. The Hartsville Goody’s plan for acquiring new accounts has not been successful.

5 Problems Associated with the Credit Card Acquisition Program Associates must meet their personal required goal each month. Failure to do so results in a written reprimand being placed in their personal file. No incentives are offered. Adequate training has not been offered. Associates dislike the program and feel they annoy customers.

6 Statement of Purpose The purpose of this project is to analyze the feasibility of replacing the credit card acquisition plan that is currently in place with a more feasible program.

7 Research Methods Interview Literature Search – PLCC Monthly Summary Report – Website Survey

8 Interview with Ms. Mildred Chandler, Store Manager Ms. Chandler strongly feels that the current credit card program needs to be replaced. Emphasizes the need to make and keep customers satisfied. Understands the need for better training of associates in approaching customers and processing new accounts.

9 Figure 1: Amount of Credit Cards Required and Acquired Over a 5-Month Timeline

10 Figure 2: Number of Credit Cards Typically Received Each Month per Associate

11 Figure 3: Rate of Satisfaction per Associate with the Current Credit Card Acquisition Plan

12 Figure 4: Rate of Agreement or Disagreement with Implementing a New Credit Card Acquisition Plan

13 Importance of Different Functions at Goody’s 1. Customer Service 2. Store Appearance 3. Sales 4. Obtaining Credit Card Accounts

14 Figure 5: Quality of Training Received on Processing New Credit Card Accounts

15 Conclusion In conclusion, keeping the existing credit card acquisition plan in place is unfeasible. It is unfeasible because the store accumulates sales through these accounts and without a proper plan to obtain the accounts, the store is not as profitable as it has the potential to be. The data illustrates how the associates and Ms. Chandler see a need for new program.

16 Recommendation Therefore, I recommend that the current plan for obtaining credit card accounts be replaced with a new plan that includes incentives and a training program. The new plan should be implemented immediately.

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