Final answer:
A customer loyalty program is an incentive offered by organizations to reward customers for their purchases and encourage their continued business.
Step-by-step explanation:
A customer loyalty program is an incentive offered by an organization to reward customers for spending money and purchasing products and services. It is a strategy used to encourage customers to continue doing business with the organization and to foster loyalty. These programs often include rewards such as discounts, points, or exclusive benefits for customers who frequently engage with the organization.