scholarly journals A New Card-Linked Loyalty Program: Estimated and Anticipated Benefits for Payment Transaction Parties

Electronics ◽  
2020 ◽  
Vol 9 (11) ◽  
pp. 1956
Author(s):  
Albert Sitek ◽  
Zbigniew Kotulski
Keyword(s):  
Risk Management ◽  
Processing Time ◽  
Loyalty Programs ◽  
Security Level ◽  
Loyalty Program ◽  
Payment Card ◽  
Contextual Risk ◽  
High Level ◽  
In The Beginning ◽  
The Impact

Electronic card payments are getting more and more popular, mainly because of their simplicity, convenience, processing time and high level of security. The fact that a single payment card is issued for a particular cardholder makes it possible to link a card to various services. In this paper, we investigated a usage of a payment card in the loyalty program that incorporates our Contextual Risk Management System (CRMS) to assure a novel intangible reward: Shorter transaction processing time. In the beginning, we emphasize the importance of soft benefits in modern loyalty programs and recall the risk management algorithms and the reputation system that has been used in the CRMS. Then, using an extensive dataset of 2.5 million payment transaction traces (collected within a year from 68 terminals) we estimate potential benefits for merchants and cardholders and try to predict an effect of this system for the future. We also discuss the impact of this system on the real and user-perceived security level.

scholarly journals Identification and Qualitative Evaluation of Risk Factors in the Construction Projects in Iraq

2021 ◽  
Vol 14 (2) ◽  
pp. 91-101
Author(s):  
Noor Aletby ◽  
Hafeth Ibrahim
Keyword(s):  
Risk Factors ◽  
Risk Management ◽  
Construction Projects ◽  
Qualitative Evaluation ◽  
Qualitative Assessment ◽  
Management Process ◽  
Risk Management Process ◽  
Questionnaire Method ◽  
High Level ◽  
The Impact

Construction projects in Iraq face many dangers that cause exceeding the estimated cost of the project and not completing the project on time, and since the risk management process in construction projects is of great importance in controlling and reducing the impact of risks in construction projects, so it is necessary to identify these risks and evaluate them correctly in order to increase accuracy and the health of the subsequent stages of the risk management process in construction projects. This paper aims to identify the most important risks in construction projects in Iraq and to conduct a qualitative assessment of the identified risks and arrange them according to their importance. The researcher adopted the questionnaire method as a tool to determine the risks and used the technique of probability and effect matrix to conduct the qualitative assessment of the identified risks. The study found that there are 48 risk factors that constitute the most dangerous factor in construction projects in Iraq, and 10 of the determining factors were within the high level of risk, and at the forefront of which was the inability of the owner to finance the project.

scholarly journals MODEL RANCANGAN PENGELOLAAN MANAJEMEN RISIKO PADA PT. XYZ MENGGUNAKAN ISO 31000

2017 ◽  
Vol 14 (2) ◽  
pp. 206-218
Author(s):  
M. Rezky Iqbal P.
Keyword(s):  
Risk Management ◽  
High Risk ◽  
Mining Industry ◽  
Heavy Equipment ◽  
Iso 31000 ◽  
Forestry Industry ◽  
Equipment Unit ◽  
High Level ◽  
The Impact ◽  
Level Of Risk

Heavy equipment trading industry is an industry that has a high level of risk. The heavy equipment trading industry is influenced by several factors that determine the condition of the mining industry, the condition of the property industry, the forestry industry and the price of the world's coal commodities. Segmentation to heavy equipment unit is very focused on the company because the heavy equipment unit has a high risk. When viewed from the impact of the impact of the industry is highly a requirement of risk. In accepting and managing these risks, it is necessary to apply risk management with the objective to minimize the risk of loss to the company.

scholarly journals Loyalty program value: Give me more or treat me better?

2021 ◽  
Vol 9 (2) ◽  
pp. 11-23
Author(s):  
Piotr Kwiatek ◽  
Vladimir Dženopoljac ◽  
Abdul Rauf
Keyword(s):  
United Arab Emirates ◽  
Customer Loyalty ◽  
Cultural Context ◽  
Economic Benefits ◽  
Arab Country ◽  
Sem Analysis ◽  
Loyalty Programs ◽  
Loyalty Program ◽  
Intangible Benefits ◽  
The Impact

Customer loyalty programs are frequently used by companies to establish and improve relationships with customers by providing them with rewards. Loyalty programs investigated in the literature focus mainly on tangible rewards and economic benefits offered to the customers. However, some research done on intangible rewards of loyalty programs suggest that they can be superior to tangible benefits in affecting customer loyalty. Previous research drew conclusions in industry-specific settings. The aim of the paper is to assess the impact of tangible and intangible benefits on customer loyalty using an on-line customer panel representing different industries. The data collected from over 300 customers is subjected to CFA/SEM analysis in R environment. The main contribution of the present study is that it represents the first attempt (to the best of authors" knowledge) to capture loyalty programs" tangible and intangible value in an Arab cultural context, given the fact the focus was on the participants from the United Arab Emirates. Several important dimensions of LP programs in an Arab country are revealed. Firstly, the study confirmed that social value of a loyalty program significantly impacts customer loyalty. In addition, it was confirmed that the flexibility of a loyalty program increased customer loyalty. Ultimately, it was established that customers value intangible benefits more than the tangible ones.

Loyalty program activity: make B2B customers buy more

2019 ◽  
Vol 37 (5) ◽  
pp. 542-554 ◽  
Author(s):  
Piotr Kwiatek ◽  
Marsela Thanasi-Boçe
Keyword(s):  
Loyalty Programs ◽  
Purchasing Behavior ◽  
Loyalty Program ◽  
Content Type ◽  
Logistic Regression Models ◽  
Program Activity ◽  
Consumer Markets ◽  
Business Customers ◽  
The Impact ◽  
Business To Business

Purpose Loyalty programs (LPs) in a business-to-business (B2B) context have been under-researched when compared to consumer markets. The purpose of this paper is to investigate if and to what extent the loyalty program activity (LPA) based on recency, frequency and monetary framework reflects the effectiveness of a specific LP. Design/methodology/approach Using the data obtained from 818 business customers enrolled in a LP, logistic regression models are run to find the impact of LPA on the company’s sales. Findings The results suggest that in a linear LP, the frequency of rewards impacts sales the most, compared to recency and amount of points redeemed. The intensity of a LPA is influencing the expected sales in a company. Research limitations/implications The current study is not focused on the redemption patterns and the value of the rewards offered in the program. Limitation of the study only to one country and in a single company does not allow to generalize presented findings. Practical implications Companies should focus their efforts on defining the best level of frequency rewards in their LPs. Reward timing should be considered as a factor that influences the change in customer purchasing behavior more than the amount of points accumulated. Originality/value The research provides empirical evidence to support the highest influence of frequency of rewards on sales, compared to recency and amount of points redeemed. This is one of the few LP studies conducted in the context of the B2B market.

Digitalization Security as a Marker of Modern Mechanical Engineering Technology Implementation in the Context of Ensuring Strategic Economic Security of Enterprises

2021 ◽  
Vol 18 ◽  
pp. 117-125
Author(s):  
Ievgeniia Mishchuk ◽  
Svitlana Rebrova ◽  
Petro Krush ◽  
Dmytro Zinchenko ◽  
Kateryna Astafieva
Keyword(s):  
Information Security ◽  
Technology Implementation ◽  
Economic Security ◽  
Machine Building ◽  
Security Level ◽  
Security Assessment ◽  
Engineering Technology ◽  
Economic Information ◽  
High Level ◽  
The Impact

The article demonstrates the impact of digitalization security on implementation of modernengineering technologies, substantiates their connections with provision of the strategic economic security of anenterprise, presents enhanced methods of assessing the current economic-information security of an enterprise’sinterests. The developed methods of digitalization security assessment have been tested at machine buildingenterprises of Ukraine. The security level has proved to be medium or low at most enterprises under study. Thework substantiates that absence of the systematic personnel policy aimed at personnel’s acquiring competences4.0, deficit of financing technologies 4.0 implementation, a low level of IT capital make it impossible to ensurea high level of strategic economic security at Ukraine’s machine building enterprises.

Do loyalty programs really matter for hotel operational and financial performance?

2018 ◽  
Vol 30 (5) ◽  
pp. 2195-2213 ◽  
Author(s):  
Nan Hua ◽  
Wei Wei ◽  
Agnes L. DeFranco ◽  
Dan Wang
Keyword(s):  
Financial Performance ◽  
Performance Indicators ◽  
Performance Indicator ◽  
Positive Impact ◽  
Empirical Support ◽  
Loyalty Programs ◽  
Loyalty Program ◽  
Cross Sectional ◽  
Content Type ◽  
The Impact

PurposeThis study aims to use a sample of 2,120 individual hotel properties between 2011 and 2013 to evaluate the impact of loyalty programs on hotel operational and financial performance.Design/methodology/approachThis study provides empirical support for the impact of loyalty program based on both cross-sectional and panel data analyses and uses the instrumental variable technique to avoid potential heteroscedasticity, autocorrelation and simultaneity issues.FindingsFindings of this study show that loyalty program expenses have a significant and positive impact on all three operational performance indicators of RevPAR, ADR and Occupancy and the financial performance indicator of gross operating profit.Research limitations/implicationsThis study suggests that the benefits of loyalty programs should be understood against the backdrop of a reasonable set of controlled variables such as e-commerce, franchise, advertising, other marketing expenses, hotel size and hotel chain scales.Originality/valueGiven the conflicting viewpoints about the positive and negative impacts of loyalty programs, and that the literature is scant on empirical validation of the impact of loyalty programs on the overall operational and financial performance of hotel properties, this study is an early attempt to empirically test the impact of loyalty programs on a number of hotel operational and financial performance indicators by using an extensive list of individual hotel properties between 2011 and 2013.

The influence of a “green” loyalty program on service encounter satisfaction

2016 ◽  
Vol 30 (6) ◽  
pp. 576-585 ◽  
Author(s):  
Stephanie Q. Liu ◽  
Anna S. Mattila
Keyword(s):  
Bystander Effect ◽  
Loyalty Programs ◽  
Service Encounter ◽  
Service Firms ◽  
Preferential Treatment ◽  
Loyalty Program ◽  
Content Type ◽  
Positive Effects ◽  
Customer Type ◽  
The Impact

Purpose Presently, loyalty programs often offer preferential treatment to the firm’s best customers, and recently, service firms started to incorporate corporate social responsibility (CSR) initiatives into the loyalty reward programs (e.g. Starwood’s “Make A Green Choice”). However, academic research advancing the understanding of the effectiveness of CSR-focused loyalty programs is lacking. To bridge that gap, this paper aims to examine the influence of a “green” loyalty program on members’ and bystanders’ service encounter satisfaction in light of preferential treatment. Furthermore, this paper investigates the psychological mechanisms (prosociality perceptions and status perceptions) that underlie these effects. Design/methodology/approach This study used a 2 (loyalty program: green vs standard) × 2 (customer type: member vs bystander) × 2 (observability of preferential treatment: low vs high) between-subjects experimental design. Respondents were asked to read a hotel check-in scenario and then completed scales that measured their perceptions and evaluations of the service encounter. Findings Results from this study suggest that a green loyalty program can buffer the negative effect of preferential treatment on bystanders’ service encounter satisfaction. An examination of the underlying mechanism reveals that prosociality perceptions of the firm mediate the impact of loyalty programs on bystanders’ satisfaction. As expected, the results show that a green loyalty program is as effective as a standard program in elevating members’ satisfaction. Furthermore, findings from a moderated mediation analysis indicate that status perceptions mediate the impact of customer type on satisfaction. However, status perceptions have a greater leveraging power in satisfaction when observability of preferential treatment is high. Originality/value The results of this study have significant implications for service firms with loyalty programs and customer prioritization practices. By incorporating CSR into their loyalty programs, firms may be able to mitigate the negative bystander effect while maintaining the positive effects of preferential treatment on members’ service encounter satisfaction.

The power of e-commerce

2019 ◽  
Vol 31 (4) ◽  
pp. 1906-1923 ◽  
Author(s):  
Nan Hua ◽  
Stephen Hight ◽  
Wei Wei ◽  
Ahmet Bulent Ozturk ◽  
Xinyuan (Roy) Zhao ◽  
...  
Keyword(s):  
Asset Allocation ◽  
Operating Performance ◽  
Loyalty Programs ◽  
Integrative Model ◽  
Loyalty Program ◽  
Content Type ◽  
Hotel Managers ◽  
The Impact ◽  
Practical Implications ◽  
Allocation Strategies

Purpose This paper aims to offer empirical insights on how investing in e-commerce capabilities affects the relationship between loyalty programs and hotel operating performance so as to aid in identifying proper resource allocation strategies. Design/methodology/approach This study extended the model in Hua et al. (2015) by testing the interaction of e-commerce and loyalty programs. Findings The findings illustrate that proper allocation of company financial resources to e-commerce initiatives can help improve the impact of loyalty programs on hotel operating performance. Practical implications The results of this study illustrate that hotel performance can be improved by the synergy between loyalty program and e-commerce initiatives. Thus, hotel managers and owners can use results from this study to improve the efficiency of their asset allocation strategies, with five practical implications offered. Originality/value Theoretically, this study adapted and extended an integrative model of hotel operating performance (Hua et al., 2015) by identifying critical factors that elucidate the variance in firm performance. In addition, the moderating role of e-commerce provides a new conceptualization of information technology. Practically, this study makes several important contributions as well.

The impact of communication channels on communication style and information quality for hotel loyalty programs

2016 ◽  
Vol 7 (1) ◽  
pp. 100-116 ◽  
Author(s):  
Orie Berezan ◽  
Michelle Yoo ◽  
Natasa Christodoulidou
Keyword(s):  
Communication Channel ◽  
Online Survey ◽  
Information Quality ◽  
Communication Channels ◽  
Loyalty Programs ◽  
Communication Style ◽  
Loyalty Program ◽  
Content Type ◽  
Study Results ◽  
The Impact

Purpose – The purpose of this study is to evaluate the impact of communication channels on communication style and information quality as perceived by loyalty program members. Design/methodology/approach – An online survey was utilized to collect data, and multivariate analysis of variance was used to test the study hypothesis. Findings – Study results indicated that the choice of a communication channel has a significant impact on the perceived communication style and information quality. Research limitations/implications – The use of an online survey restricted the ability to generalize findings beyond those that use the internet. Replicating this study in other areas where customers seek information outside of loyalty programs would provide valuable insight into the impact of communication channels on communication style and perceived quality of communication. Practical implications – Communication style and information quality have been shown to impact customer loyalty. The results of this study indicate that the type of communication channel used impacts style and information quality, and thereby loyalty. Social implications – Executives should use these research findings as a guide to how they should structure and maintain relationships with their loyalty members. Originality/value – This manuscript provides executives with a taxonomy of the tools and channels available for communicating information to loyalty program members.

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