Business Services Industry
The right mix of reward and recognition.
Australasian Business Intelligence, September, 2003
Sep 12, 2003 (Australian Banking & Finance - ABIX via COMTEX)
Banks and other groups have to reward key stakeholders. They must reward employees and customers in order to maintain the relationship and engender loyalty. There is no question that reward programs, loyalty programs and incentives do work. The Carlson Marketing Group has looked at the question of rewards and it has developed The Rewards Continuum. This is a concept which looks at the different types of rewards that can be offered to maintain important relationships and increase the flow of money. There is both a rational dimension to a rewards program and an emotional dimension. At one end of the continuum is the tangible reward, like cash or gifts. At the other end is the intangible reward, the...
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