Persuasive Essay On Brand Loyalty

Furthermore, the publication suggests that the brand loyalty is correlated with market share. So, the bigger the company is, the more loyalty among its customers. And, this is true because the more people get to know the company, its services, and its products, the more brand identity it will form among current customers. Also, large companies benefit from having more loyal customers because they engage in word-of-mouth activities which can potentially attract more customers. So, there are many ways in which a company can increase their loyalty levels. But, when it comes to increasing market share, a better way could involve the increase in revenues among consumers. This can be done by opening more stores, offering products online, and by offering volume discounts. And, as a result, the company may be able to increase revenues and potentially increase its market share. Eventually, it could lead to an increase in the amount of loyal customers overall. Moreover, it can be said that loyalty programs and other related marketing activities can only make a difference in the long-run because the result are hardly noticeable in the short-run due to the fact that it takes time for a buyer to become an actual loyal customer.

Primarily the loyalty is based on perception, not tangible evidence. Here we can see how important brand equity and positioning can be to a product that is otherwise probably on par with many of its competitors, but the message conveyed by the brand is quite different.

Successful brands build successful products when the product is one that the consumer desires as opposed to needs. Companies selling these types of products must put additional effort into marketing activities like brand

Brand loyalty is a measure of the attachment that a customer has to a brand. This loyalty reflects how likely a customer will become a brand switcher. Brand switching increases when the brand makes a change, planned or unplanned, such as price, product features or an unexpected crisis. According to Aacker, there is a brand loyalty pyramid.

Evaluate your competitors ' strengths and weaknesses. Then concentrate on offering what your competitors don 't do well. Expand your marketing niche by offering speedy delivery, more convenience, better service, faster turnaround time, more value, or specialized services that your competitors don 't offer. Do whatever you can to rise above your competitors. 4 - Establish a complete customer profile database. You need good, up-to-date, and accessible customer records that contain information about your customer 's business, its history, purchasing habits, special needs, and so forth. A good customer database provides indispensable statistics and patterns that will suggest ways to market your product or service more effectively and at reduced cost. 5 - Give your good customers a little extra. Have you ever purchased a dozen cookies but instead received 13-the baker 's dozen? If so, you will most likely remember that vendor and purchase from it again. Being generous and thoughtful is a wonderful way to show your customers how much you appreciate their business. For example, a very successful neighborhood shoe-repair store gives a sample-size shoe polish with every major repair job; it outsells its competition by two to one. What could you do to give your customers a little extra? Think creatively. Could you offer discounts, small gifts, or extra services to make your best customers feel needed and

Brand loyalty is a competitive advantage for the brands. Brand loyalty is found to have a positive influence on the performance of the product. it is known to increase the financial benefits associated with the product. brand loyalty has a positive and direct relation with the financial performance of the company. The revenue generated from a product increases. When a customer buys a product and product satisfies the consumer need, the customer become satisfied. The satisfactory post purchase behavior of a consumer propels the consumer for buying a product again and again. This repurchasing behavior of a consumer increases the sales of a product and ultimately increases the revenue of a product. The financial performance of a product enhances as the revenue increases, the profitability of the product also increases. Brand loyalty sticks consumer to a brand and does not switch to other

Increasing number of companies put the strategy of customer loyalty into focus. Marketers from different countries come to an agreement that combining customer development with customer retention can bring long-term impact on brand performance (Kotler, 2003). In specific, price premium, brand awareness and market share closely associated with brand profitability count on customer loyalty. For instance, loyal customers are inclined to pay more for a certain brand because of its inimitable value for them; there is no doubt that no alternative can instead. Similarly, as repeated purchase of loyal customers, market share will be optimistic for the

Oliver (1990) as cited by Dickinson, states that customer loyalty as a totally commitment to rebuy or repatronize a desired product/service constantly in the future, in that way causing repetitive purchasing of same-brand or same brand set, in spite of situational influences and marketing efforts of having the potential to cause the changing of behaviour.”

There are many conditions that influence the factors, which are crucial in stimulating brand loyalty successfully. These, a/o., include the market share, competition, price, brand switching costs, number of substitutes, and so on. However, less obvious, but still, very important factors include the ones proposed by De Ruyter and Bloemer in their article about

Do you view your loyal customers as repeat buyers, or do you see them as brand ambassadors? How you respond will say a lot about your brand strategy.

Each and every year, more hopeful entrepreneurs are turning to e-commerce to build profitable online businesses. Whether t-shirt sellers, online brands or other physical products, the success of their endeavour ultimately comes down to one crucial factor – their marketing strategies.

Many consumers continue to buy products from the same brands that they have been with over the other alternatives because they have built a trust toward the companies. Since the products have met customers’ standards, they usually rate the brands positively, feel comfortable buying from those brands and recommend them to other people. Companies want to build that relationship with their consumers because loyalty raise the companies’ reputation and bring them more customers.

2. Inertia Loyalty. This type of loyalty is based on pattern spending and convenience. Customers who fall into this bucket tend to purchase from a certain brand because it is easy to do, or it’s what “they have always done.” A great example of inertia loyalty is a family who is loyal to a certain bread brand because their neighborhood market sells it, and they can easily pick it up. Inertia loyalty is interesting because it is both very compelling and very easy to disrupt. For example, if the store in the example above stopped carrying that type of bread and stocked another brand, the family with inertia loyalty would become loyal to the new brand out of sheer

There is no doubt that strong brands attract more customers and by time these customers become more and more loyal to these brands. This loyalty to brands increases the customers’ willingness to pay a higher price 20% - 25% more than competing brands 3. But to reach up to this point, companies should be always innovative, making their products and services better and offering new added values to their customers.

Branding strategy has become an essential part of all the industries and the business organizations believe that it is the brand which makes and withstands the value for a longer period of time. Branding is one of the most important aspects of any business large or small and it is the effective brand strategy which gives a major edge in the competitive markets.