New Brand Option for One Fly Buy

Question: Discuss about theNew Brand Option for One Fly Buy. Answer: Introduction In the year 1996, the Bank of New Zealand in corporation with a number of businesses, that included different retailers and companies started a program that was meant to help their customers in getting relevant information that could facilitate their shopping. The program was also meant to help customers win rewards on daily basis by shopping using fly buy cards. The consumers were awarded presents depending on the number of points that they earned on daily basis during their shopping activities which included grocery shopping, petrol and other day to day purchases. The program was called Loyalty New Zealand. This fly buy program was the biggest in the entire New Zealand with over 50 partners participating in it. There are over 50 outlets that allow the use of fry buy cards and the point collection system with over 1.3 million households actively participating in the program and winning presents regularly. Now the question is on how the program can be expanded and the best method tha t can be adapted to do it by Chris (Lamers, n.d.) New Brand Option for One Fly Buy FLY Buys being the most well known program of Loyalty New Zealand and by so it has certainly reached the maximum penetration. Due to these penetration and popularity it was seen that it was wise to launch new brand. Chris knew that 10 percent of New Zealand population is made up of the consumers aged 18-35.Thise being the youth of New Zealand it was seen to be prudent to launch a youth card branded loyalty program that could be a great success (Kotler and Keller,2012). This was seen as great achievement because the youth group represented the future of fly buys brand and the potential source of brand advocates lifetime values. After going through the statistics, the following trend was seen, the consumers over the age of 65 years were expected to rise (Texier,2000). So, being familiar with the market trend he thought that senior card branded loyalty program could also be launched. It was seen that senior citizen could take advantage of the program especially in the field of Warrant o f fitness (VTNZ). Previous the growth of the company in terms of market share was slow because over 80 percent of the population was using the Fly Back cards, but it improved drastically has they have been able to purse more and more people especially those who have been using the old program. This has enabled the collaboration among the different companies that are participating in this Loyalty New Zealand program. But in order for it to grow and expand further the company needed to do some thorough market research and take some drastic steps in order to increase the number of people participating in the venture (Biggadike,2010) The population of the youth today is growing as per the market survey and research. The growing number of youth mean that the demand of todays product will be high (modern, 2012).With the coming up of many new products in the market and new innovations being carried out, the launch of the card for the youth will attract them towards the prospect of getting gifts from the points earned by shopping their much needed luxury items using card (Jeannet and Hennessery,2010) This option is in many ways better than the other option chosen by the Chris. Option 3, which is expansion of the brand for the fly buys is only concerned with the youth which is only 10 percent, whereas it ignores the middle aged and the senior citizens. Middle aged and senior citizens are not much interested in Fly buy music has they will not find it interesting. They will tend to show more interest in senior cards loyalty program. Also getting into new partnership with partnership with Air New Zealand and its Air poin t loyalty program is unachievable for middle income group and low income group. In New Zealand, launching of new program has got its challenges and it is a high risk venture. It takes a lot of time and a lot of resources but business rules states that if you want to rise in business you have to take risks that enable better developments and increased profits. The chosen option has its own advantages and no doubt Chris had his options well checked before working on it .Due to that, the Fly Back swiping option is available at the fly tickets as well. People travelling by the flights in the New Zealand today are able to enjoy the benefits of Fly card swiping system under the Loyalty New Zealand program. Apart from encouraging many different classes of people to use the Fly buy system, launching of an entirely new program for the youth will encourage more of the young generation to participate in the venture. It is of great important for the youth to participate because the to days generation is the future of the country. Hence investing on the future is a great option for expanding the journey of the Loyalty New Zealand into the future (Doyle,2006). Companies and business people taking part in the venture have got a number of advantages as well. Companies and business people will make more profit as it is a scheme that will attract more customers in their premises. The accumulation of points by customers once they purchase goods or commodities by use of Fly buys card will attract more customers as they will be expecting gifts. People will purchase from companies that are part or partners of Loyalty New Zealand program due to benefits of awards thus leading making of huge profits by the companies. Recommendations Fly buy scheme is the best policy for the Loyalty New Zealand program that can be used by companies for the purpose of expansion and huge profits. The company is supposed to launch a new series of Fly buy cards that will encourage the youth to participate in the program as well. A lot of youth products being being demanded and sold in the market will without no doubt bring a lot of profit to the company if it will venture into them. It is wise to invest in the youth today as they are the future of the country. There was concern that the youth group represents the future of fry buys brand while the potential source of brand advocates lifetime values. After going through the data the statistics are as following, Chris was aware that consumers over the age of 65 are expected to rise, so being familiar with the market trend he thought that senior card branded loyalty program can also be launched. People would like to buy products from the retailers where they may have some benefit (Hitt, Ireland, and Hoskisson,2009). Hence having new brands and companies as partners along with the launch of the youth card will help the new program to develop more successfully. The launch of the new Fly Buy Card can also be promoted by advertisements or mouth to mouth promotion in the beginning so that it can b come more popular and more so consumers can be aware of its advantages. The points that the customers will earn after purchasing a given commodity should be different depending on the prize of the good. The youth can be encouraged to use these cards by attempting them with gifts that are more appealing. The trend of awarding presents should be studied carefully so that appropriate measures can be taken once an issue rises. Conclusion The fly buy is the largest program in the entire New Zealand with over 50 partners participating in it. The rewards are awarded depending on the points that the consumer have collected from their daily grocery shopping, buying petrol and many other day to day purchases. The youth today are increasing as per the market survey and research. The growing number of youth means that they will use more number of products of today (Speculand,2009). Chris had his option well checked and the program has got a lot of advantages compared with other options. Dou to these, today the Fly Back swiping option is available at the Fly tickets as well. People traveling by the flights in New Zealand today can also enjoy the advantages of the Fly buy card swiping system with the Loyalty New Zealand program. With companies coming up with new products in the market and the innovation being carried out, the launch of the card for the youth will make them get attracted by free gifts that one gets through the points earned thus doing good shopping for their much needed luxury goods(Hollensen,2010).So Fly buy program is the best and largest option of marketing that has ever being developed in the New Zealand. References Biggadike, E. R. (2010). The contributions of marketing to strategic management. Academy of Management Review, 6, 621-632 Doyle,P. (2006) Marketing Management and Strategy (4th Edition). Upper Saddle River: Prentice Hall. Hitt, M. A., Ireland, R. D. and Hoskisson, R. E. (2009). Strategic Management: Competitiveness and Globalization. 5th ed. London: Prentice Hall Hollensen,S. (2010). Marketing Management: A Relationship Approach (2nd Edition) UK: Pearson. Huber, J. (2011). Effective Strategy Implementation: Conceptualizing Firms Strategy. Springer Jeannet, J. 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