Journal
JOURNAL OF THE ACADEMY OF MARKETING SCIENCE
Volume 31, Issue 3, Pages 229-240Publisher
SPRINGER
DOI: 10.1177/0092070303031003002
Keywords
loyally program; reward scheme; brand loyalty; program loyalty; value perception
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The authors investigate how reward schemes of a loyalty program influence perceived value of the program and how value perception of the loyalty program affects customer loyalty. The results show that involvement moderates the effects of loyalty programs on customer loyalty. In high-involvement situations, direct rewards are preferable to indirect rewards. In low-involvement situations, immediate rewards are more effective in building a program's value than delayed rewards. Under high-involvement conditions, value perception of the loyalty program influences brand loyalty both directly and indirectly through program loyalty Under low-involvement conditions, there is no direct effect of value perception on brand loyalty.
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