Consumer behavior

Design a rewards program for a hypothetical local franchise of a yoga studio (60 pts).

Describe your target market segment

Give a detailed description of your rewards program design (based on your target segment and

potential subgroups in your target segment) make your rewards program as elaborate or simple as

you think is necessary to derive maximum engagement for consumers in your target segment

Describe how your program balances intrinsic and extrinsic rewards

Based on lecture, what two different types of extrinsic rewards can be used and under what

conditions are they most effectively used?

i. Choose 2 specific extrinsic rewards that might be optimal for your yoga studio and

rationalize why and when you chose them. e. Based on our reading by Zhang and Huang, what are 2 key factors to predict goal commitment?

How can you take a theory-to-practice approach to utilize this information in your rewards program?