The researcher states that brand loyalty is the final objective a company sets for a branded merchandise. The importance of brand loyalty cannot be underestimated due to the fact that as brand loyalty increases, the vulnerability to the competitive actions is reduced which is very important in the cut-throat competitive era of today. The customer’s adherence to a particular brand increases the market value of the brand and helps the organization to have a competitive edge over the rivals. The brand loyalty also provides confidence among the organizations to launch a new product and to get involved in new ventures as they feel that the loyal customers will definitely go for the new products. This also helps the organization with the process of the expansion. Brand loyalty is basically a consumer’s preference and priority to opt for a particular brand in a product category. The reason behind this preference can be the perception of provision of the right product features and high level of quality at the right price. Additionally the brand loyalty can also have its basis in the emotional attachment of the user with the brand. The preference can be built upon an association with the brand symbol. Aaker defined Brand loyalty as “the attachment that a customer has to a brand”. It can also be seen as consumer’s preference to purchase a particular brand in a product class and this could be as a result of the consumer awareness about that particular brand. The strong name of a firm, the good image of the product and corporate reputation are the factors which builds loyalty/commitment, which helps the consumer to value a product of a particular company and put it above the others (Souiden et al. 2006). “A deeply held commitment to re-buy or re-patronize a preferred product/service consistently in the future, thereby causing repetitive same-brand or same brand-set purchasing, despite situational influences and marketing efforts having potential to cause switching behavior” (Oliver,1997 referred in Ozer, et. al. 2005, p.90). The brand loyalty of existing customer represent a strategic asset to the organization, that, if properly managed and exploited, has the potential to provide value in several ways. It works to reduce the marketing costs of doing business. It is simple and much less costly to keep hold of customers than to get new ones. Brand loyalty even generates trade leverage. At the extreme, brand loyalty may dominate store choice decisions. Additionally various studies
The purpose of the study is to substantially measure the underlying elements that accounts for customer loyalty in operational terms and give recommendation to marketing managers to aid them in increasing and retaining the customer base by increasing the loyalty towards their brand. …
With the advances in communication and technology, new lifestyles and the quest to appear young and beautiful, the demand for quality beauty products has increased significantly. Consumer quality sector is characterized by the emergence of exchange offers, discounts and intensive competition.
The given project analyses the role of IMC in developing a strong brand image of a product or service. The brand image of a product is influenced by several factors. Factors like age of consumers, influence of social-economic factors and the changing purchasing behaviour of the consumers directly influences the brand image.
Customers and suppliers are important stakeholders. "Stakeholders are those individual or groups who depend on the organisation to fulfill their own goals and on whom, in turn, the organisation depends" (Johnson et. al.2005:179). Today, with increasing number of challenges facing firms with respect to stakeholders' management, they are obligated to deliver quality just to keep up or stay even with their rivals.
The UK respondents also tended to give higher premium on the feature of being able to share games with their friends. Age groups did not yield an significant differences. Nintendo has to continue to leverage on its cost effectiveness, if it is to remain successful as a
ance of CRM and customer loyalty in banking because a bank depends on the funds maintained by its customers to do business, take risks and to deliver. However, a global bank, like the HSBC, has millions of customers who indulge in billions of transactions, making technology
Brand loyalty is basically a consumer’s preference and priority to opt for a particular brand in a product category. The reason behind this preference can be the perception of provision of the right product features and high level of quality at the
Branding communicates a brand’s business proposition. Roellig further states that the most successful visual expressions of a brand are its core attributes, and the purpose is to establish a strong emotional relationship between the
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