[Recommended] Offering Incentives May Help
This week, you will create an annotated bibliography for your formal report or proposal. In it, you will identify four relevant, timely, and authoritative sources directly related to the topic of your report or proposal. It is highly recommended that you use the Library (Links to an external site.), especially the databases (Links to an external site.).
Each annotation will have these elements.
- The correct APA-style reference
- A summary of the source written in your own words (never copy the abstract)
- One brief, interesting quotation, introduced with a verb phrase, author and date citation, and page number
- An overall assessment of the article and an explanation of how it will be used in your report or proposal
Tamaddoni, A., Stakhovych, S., & Ewing, M. (2017). The impact of personalised incentives on the profitability of customer retention campaigns. Journal of Marketing Management, 33(5/6), 327–347. https://doi.org/10.1080/0267257X.2017.1295094
Summary: This article contends that while there have been many studies made on churn (p. 328), the term used to describe loss or turnover of customers, there has been very little research on strategies to reduce churn. The authors contend that offering incentives may help companies to retain customers but that such incentives must be individualized based on customer buying habits to be effective. In other words, not all customers are equally worth retaining.
Interesting Quote: Tamaddoni and Ewing (2017) point out an often overlooked fact: “It is plausible to have a customer who is likely to churn and who is also not profitable” (p. 332).
Assessment: This well-researched and authoritative source will be very useful for my formal report, which focuses on increasing customer loyalty at the company where I work. It will support my point that our efforts should focus primarily on retaining our most profitable customers.
- Use the Cite feature in our databases as a general guide but not as a substitute for understanding correct APA citation rules.
- Pay close attention to capitalization and italics.
- Put your sources in alphabetical order by the lead author’s last name.
Submit your assignment as an APA-style document.