Book: Loyalty Programs & Sales Forecast by Giancarlo Russo
categories: Book, Sales Forecasting, Revenue Forecast, Reward Programs, Sales Plan, Incentive and Rewards, Business Forecast, Forecasting Models, Time Series Forecasting, Loyalty Programs
Giancarlo Russo about this book: In the current highly competitive market, marketing specialists face the challenge of creating, developing and maintaining client relationships. Relationship marketing represent the approach needed to overcome the traditional method characterized by a mono-directional exchange and loyalty marketing can be seen as the managerial process of identification, maintenance and growth of a relationship generally via loyalty programs. Loyalty programs represent a necessary tool in order to keep and grow customer relationships. In North America and Europe loyalty programs have involve millions of clients. In the United States alone the average family results to have subscribed to and average of 18 loyalty programs (Colloquy 2011).
Given the size and complexity a loyalty program entails, careful planning of all activities needed to implement the program is needed. Erroneous forecasts lead to inefficient internal and external logistic-productive resources usage, and also cause stockout and customer service level damage. This paper describes sales forecasting mathematical methods and models: from the most known decomposition models time series, coming from classical analysis, to an estimate of the number of fidelity program rewards based on analogy and characterized by short-term life cycle.
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