Lena Sigfanz

Lena Sigfanz is a master student of Marketing at the University of Münster in Germany. Prior to her study in Marketing, she obtained a Bachelor of Science in Business Administration.

In her current research project, a seminar paper, Lena will investigate consumers’ preferences for characteristics of loyalty programs in the book market, which is a market with fixed prices. Most empirical results about loyalty programs indicate that consumers mostly value discounts as part of a loyalty program. However, due to government regulations, book retailers are not allowed to convince their customers to join their loyalty program by offering book discounts. As loyalty programs are commonly considered as the ultimate tool to foster customer loyalty, the identification of relevant loyalty program characteristics different from discounts is of high relevance for any book retailer. Conjoint analysis will help to find these design characteristics which are valued by consumers and to calculate their relative importance. Further, Lena will uncover similarities in preferences among participants in order to enable book retailers to implement or adapt a loyalty program which perfectly addresses their target group.