Brand Loyalty
Brand Loyalty In marketing, brand loyalty refers to a typical consumer behavior in which s/he repurchases a brand’s product with a certain level of commitment and can be seen as a repeated buying of a particular product/service or behaviors like advocating the use in the general public or people they know. Nevertheless, brand loyalty does not only entail repurchasing. Repurchase may be the result of several other variables like absence of good alternatives, situational constraints, or simply convenience. And, here brand loyalty is referred as “spurious loyalty”. In case of true brand loyalty, a customer repurchases a product with a higher degree of commitment and it is really a good asset for a firm because of inelastic behavior and purchasing pattern in which the company may exploit the attitude by setting higher prices. The rate of usage, loyalty patterns, and factors affecting loyalty
The rate of usage is the most important and heavy-users, according to Kotler, are invariably crucial to the brand. Consequently, brands often categorize their customers as light, medium, and heavy and their main target are the heavy ones. Customer’s commitment is another dimension and Kotler discusses behaviors under four patterns. First, a hardcore-loyal uses the brand always. Second, a softcore-loyal uses two or three brands. Third, shifting-loyalty refers to changing between brands. And, fourth switchers exhibit no loyalty, at all. It is often suggested that a degree of pre-dispositional commitment for a brand is responsible for brand loyalty. Value as judged by the customers, customer’s satisfaction, trust in the brand, commitment, and repurchasing are the deciding factors Brands’ portfolios and market stability Ehrenberg of the London Business School are interested in a set of brands and move between them because they like change, and, therefore brand-share and penetration show a statistical probability that the customers’ majority will go
The rate of usage is the most important and heavy-users, according to Kotler, are invariably crucial to the brand. Consequently, brands often categorize their customers as light, medium, and heavy and their main target are the heavy ones. Customer’s commitment is another dimension and Kotler discusses behaviors under four patterns. First, a hardcore-loyal uses the brand always. Second, a softcore-loyal uses two or three brands. Third, shifting-loyalty refers to changing between brands. And, fourth switchers exhibit no loyalty, at all. It is often suggested that a degree of pre-dispositional commitment for a brand is responsible for brand loyalty. Value as judged by the customers, customer’s satisfaction, trust in the brand, commitment, and repurchasing are the deciding factors Brands’ portfolios and market stability Ehrenberg of the London Business School are interested in a set of brands and move between them because they like change, and, therefore brand-share and penetration show a statistical probability that the customers’ majority will go