Being a member of an establishment or partner companies can give its member variety of benefits. Aside from the recognition that a person is a part of such prestigious company, the opportunity to save, earn and take advantage of the limited promotions and exclusive access to events hosted by these companies are reasons why many people would love to have a membership card.
The membership cards come in various forms. Each card has different policies, terms of use, limitations as well as methods to earn and save. Nevertheless, despite of the differences, the objective of these membership cards only comes down to one ? and that is to provide savings to its members.
Here are the two (2) common types of membership cards and their advantages.
1. All-in-one Membership Card. This card is normally from a company that focuses in this industry. These companies also have specific audiences ? i.e. military, mothers and women, rich and famous and children, etc. This type of card normally requires membership fees and is renewed annually.
The companies that offer all-in-one membership cards have partners where their members can take pleasure of its preferred pricing. The partners are usually hotels, restaurants, travel agencies like airlines and car rentals, specialized shops and more. Members can enjoy special price on services and products as well as freebies and added surprises from these partners.
2. Membership cards that earn points. This card is normally offered by supermarkets or specialized stores to their regular customers. This type of card is usually free or given to customers when they reached the required purchase amount. The card is presented to the cashier to earn points from their consumed commodities. Then the accumulated points each time they buy can be converted into an item or equivalent cash.
For equivalent item, the member is provided by a list of items with corresponding points. Members can freely choose what item they should exchange for their accumulated points. On the other hand, the card that converts earned points into cash can be used by card holder for his/her future buys in the same store.
Now, that the world is suffering from the effects of global economic crisis, it would be better if we will take advantage of such membership cards. After all, nothing comes for FREE. What makes these cards helpful is that it gives us another way to spend our money wisely while getting an extra gift.
In the field of marketing, it is always important to know what intangible items are included in any transaction. It is important to realize the various rights and various limitations that come with buying a tangible good. This is because such intangibles may affect what a person intends to do with the item that he or she has bought. One such intangible is the resale right.
What are resale rights? Well, there are certain types of merchandise which are intended only for the consumption of the customer. This merchandise is not intended to be profited from by a consumer in any other way.
There may be a lot of reasons for this. Some people may not want others to take credit for their merchandise. These people try to avoid any other name from being associated with their wares.
Another reason would be to maintain a hold in the market. By making sure that no other person is involved in selling the product, a person can make sure that he or she would get all the customers who want that product. Thus, no one else will profit from the entrepreneur's hard work.
Entrepreneurs also may prevent other people from redistributing their merchandise for the sole reason that they want to maintain the retail price of that merchandise.
When introducing a new product into the market, it is vital that the price be considered in the marketing strategy. Any change in the price could upset the balance on which a marketing strategy is based. This could lead to a disaster in business.
Resale rights, when included with merchandise, allows the buyer to actually re-sell the product to other consumers. This means that a person who buys a product with resale rights can actually profit from re-selling that product. The profit margin for this would understandably be low, but the point is that there would be profit!
Before you get excited and start buying all sorts of merchandise with resale rights, however, you need to remember that being smart with your money will get you more returns. What does this mean? Well, not all people know the fact that there are various types of resale rights and choosing the right type is essential in achieving success.
1) Normal - normal resale rights allow a person to resell the merchandise for the consumption of others. This means that a person can profit from the sales of a certain product and not much more.
2) Master - master resale rights allow a person to sell both the merchandise and resale rights to other people. This means that a person can gain profit not only from the sale of the merchandise but from the sales of the rights as well. Because of this, the profit margin would be much higher than that of the normal resale rights.
3) Modifying - modifying resale rights allow a person to tweak the various features of a product and then sell the product. This means that it allows a person to make improvements on the merchandise which would increase the price. Few manufacturers actually sell this type of resale rights as they believe it would destroy the purity of the product. It is also dangerous since this type of resale rights would allow a person to sell a horribly modified product in the name of the original product. Discretion is needed in selling this resale right.
Both Liza & Daegan Smith are contributors for EditorialToday. The above articles have been edited for relevancy and timeliness. All write-ups, reviews, tips and guides published by EditorialToday.com and its partners or affiliates are for informational purposes only. They should not be used for any legal or any other type of advice. We do not endorse any author, contributor, writer or article posted by our team.
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