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Changing consumer behaviour and creating loyalty throughout the supply chain are areas every FMCG manufacturer is trying to achieve. However, these are the last links and typically the most difficult elements to manipulate. This is due to challenges around validating sales – you can only reward loyalty if you can verify the purchase.
Often considered a buzzword, big data can be described as the vast volume of structured and unstructured data which floods business daily. However, it is not the size of the data collection that counts, but rather what you choose to do with it that counts.
A franchise with a proven track record will probably have a lower risk and should therefore be an attractive investment. When investors are considering a franchise in the restaurant industry they should, however, evaluate the following pointers that could influence their decision: