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The importance of customer loyalty - Literature review Example

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Author : marquardttheo

Summary

The researcher of this present paper will start with the definition of customer loyalty. The paper will continue with introducing of factors influencing the customer loyalty; importance of customer loyalty and maintaining customer loyalty. …

Extract of sample
The importance of customer loyalty

The study presents that every consumer desires to purchase a product from a brand that she/he perceives to have the best product features, images and of the best quality. It is these perceptions that bring about the products consumer loyalty. Brand loyalty begins with the purchase of the product for trials, and if the products quality is satisfactory, they become consistent in purchasing the product. Brand loyalty is the consumers repeated intention or behavior to continually repurchase the commodity. Brand loyalty is defined as the strength of preference towards a brand than other available options. Brand loyalty is determined through repeat buying and the sensitivity of the price. There are six conditions, which define brand loyalty. These conditions can be summarized as follows; the biased product purchase behavior expressed for a long duration, and the purchase has had influence in consumer’s decision making over other alternative product. True brand loyalty only exists when a customer have a high preference towards the brand and is only confirmed by the repetitive purchase of the product. This loyalty is said to be of considerable significance to the company. With brand loyalty, consumers are not affected by the increase of prices. There are two approaches used in defining the loyalty construct; first is the behavioral one which suggested that the loyalty of a brand is only expressed when there is repeat purchase of commodity overtime. ...
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