The paper researched the relationship between value perception of the reward programs, customer value and customer loyalty and also investigated the effect of competition.

本文对回报计划感知价值和客户价值与客户忠诚间的关系进行了研究，并考虑了竞争所可能产生的影响。

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Under high-involvement conditions, value perception of the reward programs influences brand loyalty both directly and indirectly through program loyalty.

同时，在强涉入度情况下，回报计划的感知价值通过直接和间接两务途径影响品牌忠诚；

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Under high-involvement conditions, value perception of the reward programs influences brand loyalty both directly and indirectly through program loyalty.

同时，在强涉入度情况下，回报计划的感知价值通过直接和间接两务途径影响品牌忠诚；

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