Ebook Credit Card Reward Program In Singapore: The Consumer's Choice
Consumer reward program began as early as 1896 in the United States. A company, founded by Thomas Sperry and Shelly Hutchinson (S&H), came up with the idea of selling “stamps” to merchants. (Simon, 2006) Merchants bought these stamps from S&H Company who in turn gave them to their shoppers. These stamps, also known as “S&H Green Stamps” acted as rewards for customers.
The more the customers purchased, the more stamps they were awarded. With sufficient accumulation of stamps, customers were allowed to redeem for merchandise from a catalogue or from the local Green Stamps store. Each item listed in the catalogue or in the Green Stamps store was assigned a value in terms of the number of stamps required. This almost resembles today’s point accumulation program, only with the advancement from the use of stamps to electronic points. S&H Green Stamps continued its popularity in the next few decades.
By the 1960s, such trading stamps became so popular that major supermarket chains such as Tesco joined the bandwagon too. (Tesco PLC, 2009)
By the 1980s, airlines started to adopt reward program that awarded customers with air miles points. American Airlines, the first mover in the airline industry, introduced the AAdvantage Programme in 1981. (O’Malley, 1998)
A few years later, the credit card industry followed this trend. 1986 marked the birth of the credit card reward program. (Discover Financial Services, 2009) The “Discover Card” introduced a cash back reward program. Cash rebates were granted to customers at the end of each year based on the amount spent using the card. Reward program has now emerged to be an important marketing tool used by retailers in different industries.
CONTENTS
CHAPTER ONE: INTRODUCTION
- 1.1 A BRIEF HISTORY
1.2 THE RISE OF REWARD PROGRAM
1.3 MOTIVATION FOR RESEARCH TOPIC
1.4 OBJECTIVE OF STUDY
1.5 OUTLINE OF ENTIRE THESIS
CHAPTER TWO: UNDERSTANDING SINGAPORE
- 2.1 OVERVIEW OF SINGAPORE BANKING INDUSTRY
2.2 OVERVIEW OF CREDIT CARD MARKET IN SINGAPORE
2.3 SINGAPOREANS, THE MULTIPLE CARDHOLDERS
2.4 CREDIT CARD REWARD PROGRAMS IN SINGAPORE
CHAPTER THREE: LITERATURE REVIEW
- 3.1 INTRODUCTION
3.2 REWARD PROGRAM – THE DECIDING FACTOR
3.3 DEFINITION OF REWARD PROGRAM
3.4 OBJECTIVE OF REWARD PROGRAM
3.5 CLASSIFICATION OF REWARDS AND REWARD PROGRAMS
3.6 CHOICE OF CREDIT CARD REWARD PROGRAM
3.7 CONCEPTUAL MODEL
- 3.7.1 Modified conceptual model
3.7.2 Rationale for choice of conceptual model
3.7.3 Instant benefits a type of reward program
CHAPTER FOUR: RESEARCH METHODOLOGY
- 4.1 INTRODUCTION
4.2 RESEARCH DESIGN
4.3 DATA COLLECTION
4.4 DATA SOURCE
4.5 SURVEY
4.6 QUESTIONNAIRE DESIGN
- 4.6.1 Organization of Questionnaire
4.6.2 Types of Measurement
4.6.3 Multiple Indicators
4.6.4 Guidelines on Questionnaire Construction
4.6.5 Pre-test Conducted
4.7 SAMPLING
4.8 COLLATION OF RESPONSES
4.9 LIMITATION OF RESEARCH METHODOLOGY
CHAPTER FIVE: RESEARCH FINDINGS AND ANALYSIS
- 5.1 INTRODUCTION
5.2 DEMOGRAPHIC PROFILES
- 5.2.1 Gender
5.2.2 Age Group
5.2.3 Annual Income Level
5.3 HYPOTHESIS 1
5.4 HYPOTHESIS 2
5.5 HYPOTHESIS 3
5.6 HYPOTHESIS 4
5.7 HYPOTHESIS 5
5.8 HYPOTHESIS 6
CHAPTER SIX: CONCLUSION
- 6.1 SUMMARY AND FINDINGS
6.2 RECOMMENDATIONS
6.3 AREAS FOR FURTHER RESEARCH
REFERENCES
APPENDICES
- APPENDIX A – QUESTIONNAIRE
APPENDIX B– RESULTS OBTAINED FROM QUESTIONNAIRE
APPENDIX C– SPEARMAN CORRELATION COEFFICIENT
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