the course in Marketing of FinancialServices
Question (1): Based on what you have learned aboutrelationship marketing strategies, read the following case studyand answer the questions at the end.
(4 marks)
Reward scheme
Britannia is the only building society to share its profitsdirectly with its customers. The society’s unique membership rewardis an example of how they are promoting their message of building afairer society. Each year they reward their members for theirloyalty with a share of the profits. As a building society, they donot have shareholders but instead customers are members of thesociety. Over the last 12 years, the society has shared more than£500 million with its members, with individual members enjoying areward of up to £500 a year.
When a customer takes out a mortgage or opens a qualifyingsavings account with the society – as with any building society-they become a member and therefore eligible to earn the society’sunique membership reward. Once an individual has been a member fortwo years, they can start to earn reward points on every qualifyingBritannia product they have. Products of Britannia: Currentaccounts- Savings- Loans- Credit cards -Mortgages- Insurance.
Questions:
1- What is the key term that the previous case is discussing?Explain at length with evidence from the case
2- From your point of view, evaluate this reward schemeprogram.
the course in Marketing of Financial Services Question (1): Based on what you have learned about relationship marketing
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