1. Describe how SaksFirst builds loyalty for Saks Fifth Avenue.

SaksFirst Built loyalty for Saks Fifth Avenue by offering investors/cardholders points with regard to Gift Cards when they made their purchase. The points were graduated according to how much each card holder is able to spend in a period of time.What is loyalty?The loyalty business model is a strategic management business model in which company resources are utilized to strengthen the loyalty of customers and other stakeholders in the hope that corporate objectives would be attained or exceeded.Customer loyalty is based on money, but brand loyalty is based on perception (image and experience) (prices and discounts). Customers that are brand loyal feel that a certain brand symbolizes superior quality and better service than any competing product price is irrelevant. To sustain a best-deal-on-the-market reputation, customer loyalty needs low pricing and constant promotions.Learn more about Saks Fifth Avenue:https://brainly.com/question/13446937#SPJ1