NRI Papers
No.133 August 1, 2008
  Enterprise Currency Marketing from a Global Perspective  
Hiromichi YASUOKA and Masahiro KAJINO
   Nomura Research Institute (NRI) calls points, mileage and electronic money that are exchangeable "enterprise currency." The loyalty reward programs now being operated in each country of the world include such types as (1) a loyalty points program operated by a single company, (2) alliance enterprise currency and (3) common enterprise currency. Rather than following the development phases in the order of (1), (2) and (3), a company makes a decision on which type to adopt in accordance with an ever-changing competitive environment and/or economic situation based on its own strategies.
   If Google decides to offer its loyalty points program, the result would become the world's largest loyalty points program operated by a single company. Because borderless transactions are possible in the field of electronic commerce (EC), if Japanese EC companies that are more experienced in operating loyalty points programs go ahead of others in offering such programs globally, this marketing tool will certainly contribute to the promotion of sales on a global basis.
   If a Japanese company considers the global offering of its enterprise currency, it is desirable to form an alliance among companies that provide products and/or services that consumers use daily or continuously. Optimal alliances would be those centered on companies in the retail, transportation or communications fields.
   The government has also begun to use points programs. The Kyoto eco points system advocated by the Ministry of the Environment is one example. This scheme could be expanded to be applied not only among individuals and companies, but also among countries.
   For the global evolution of enterprise currency, there is a need for many countries to participate in activities to develop systems and standards. One of the methods would be to set up a venue for study in Japan, where adjustments would be made to develop optimal standards for all countries concerned.
I Trends in Enterprise Currencies in the Global Market
II Global Use of Enterprise Currencies
III Development of Systems and Standards for Global Evolution of Enterprise Currency


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