Thesis On Brand Loyalty

Most successful businesses today actively develop loyal customers who buy their brands again and again. After all, getting current customers to buy more is much easier than constantly seeking new customers. Think of three brands that you buy on a regular basis. Why do you stick to these products? How could another company dislodge you?

Firstly, to start with it is important to understand what is Customer loyalty? Loyalty can be explained as an attitudinal or behavior. According to Mark, Grahame & Kathy (2003): “Loyalty is something that consumers may demonstrate their interest to brands, services, stores, product categories. Here, we use the term customer loyalty as opposed to brand loyalty; this is to emphasize that loyalty is a feature of people, rather than something inherent in brands (Mark, Grahame & Kathy, 2003).” To explain it further Customer loyalty is something where consumer or customer likes or prefer to buy

Thus, companies seek to strengthen customer loyalty. Brand loyalty is considered to tilt the consumer to purchase the package / product specific brand (Jacoby and Chestnut, 1978). Later, Oliver (1997) defined loyalty as "a deeply held commitment to REBUY or repatronize preferred product / service consistently in the future, thereby causing repetitive same-brand or same brand set purchasing, despite situational influences and marketing activities, which would result in causing switching behavior "(p. 34). This conceptual definition covers two different aspects of loyalty: the behavioral. This is consistent with an integrated conceptual framework proposed by Dick and Basu (1994), that customer loyalty is regarded as a "power relationship between the relative position of the individual and repeat

According to Veloutso & Moutinho (2009, p.315) Brand relationship is defined as the continual exchanges between a specified brand and an established customer, where relationship characteristics of love, association, interdependence and loyalty are developed with the brand. However, Keller (2014, p.365) revealed that consumer-brand relationships are the quality of relationship between brands and consumers. As a result, there are many influences that formulate consumer brand relationship. Basically, brand loyalty , brand equity and trust Escalas and Bettman, (2005, p. 379) are the underpinning factors that generates brand relationships. Furthermore, this developing customer brand relationship constitutes a sum of long term experiences with the brand where the brand is the entirety of the customers experiences with the brand. However, supplementing the long term customer brand relationship, brand communications is the major catalyst in relation to enticing both customer and seller in the long term relationship, hence attaining a brand emotional connection. This brand relationship does not only lodge an essential position in the mental period of a brand connection, rather it stimulates greater sales due to customer retention, less price Vulnerability, superior customer loyalty and advanced profit margin.

Brand loyalty exists, especially towards the top end of the industry since it is easier for customers to form emotional attachments to luxury brands and luxury goods, since their durability and elevated prices make customers think more about the purchase.

Simplified brand loyalty describes a status in which consumers determine their selves in; out of it they become committed to a brand. Thereby they continue purchasing products or services of a specific brand. At this point consumers rather spent more money on a product of a specific brand than buying from multiple suppliers within the same category. Mainly brand loyalty is a result of consumer’s behavior, which is enforced through a company’s measurements regarding branding. Branding is a process that a company runs through in order to establish a new brand. The ambition here is to strengthen a unique name and image for a product in

Have you ever wondered why most people are buying products from familiar brands? Usually, the most valuable brands becomes associated with a level of credibility, quality, and satisfaction in the consumer's mind. They provide unique design, performance, technology and durability in order to fulfill their customer's needs.

Brand equity is an important key to produce customer loyalty. It is a powerful factor in winning market share. It helps an organization or a brand to grow and defend market share. A brand with strong and positive image and productivity has the ability in driving stable customer loyalty. Customer loyalty is the combination of consistently positive consumption experience, perceived value of experience and also physical satisfaction towards products and services. Consumers always have a positive view on the brand they are supporting the most. Customer is a major key for a brand to success, therefore

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.

Brand Loyalty of consumers: Some consumers are very loyal to brands, but some don’t. The loyal customers will only buy the products from the company they stick to. Amazon loyal consumers will definitely prefer Amazon Kindle Fire rather than any other company. However, consumers can also accept substitute products, such as Apple iPad, HP Touchpad and Samsung Galaxy Tab.

The definition of Brand Loyalty is when consumers become committed to your brand and make repeat purchases over time. Brand loyalty is a result of consumer behavior and is affected by a persons preferences. Loyal customers will consistently purchase products from their preferred brands, regardless of convenience or price. Companies will often use different marketing strategies to cultivate loyal customers, be it is through loyalty programs (i.e. rewards programs) or trials and incentives (ex. samples and free gifts). (Investopedia)

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.

* Making Brand Loyalty over customer- Customer loyalty is one of the important parts for Boots marketing strategy. Having loyalty customers supply Boots to create strong business environment. For an instant, a shopper visiting Boots once a fortnight and buying nappies is probably buying from a number of supply sources whereas one calling

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

The behavior in which a consumer keeps buying a product time and again instead of buying products from other competitive companies is called Brand Loyalty. Brand loyalty can often be termed as Customer Loyalty, Brand Commitment, Product Loyalty etc. Brand Loyalty is seen among consumers when they realize that the product is better than the other products that are available in the market. This affinity of a consumer towards a particular product is considered to be brand loyalty. Although, this consumer behavior is not limited to a simple repetition of a purchase, there is also a psychological reasoning behind the consumers’ affinity towards behavior.