How to Select a Vendor for Affiliate Marketing
Affiliate marketing is a catch all term. It is a term just like marketing meaning that it applies to a lot of industries and businesses. Since the connotation is so vast, generalizations must not be made for affiliate marketing. What may be true for affiliate marketing in case of one product may not be applicable […]
Print Advertising – Newspapers, Magazines, Brochures and Fliers
Print advertising is a widely used form of advertising. These advertisements appear in newspapers or magazines and are sometimes included as brochures or fliers. Anything written in the print media to grab the attention of the specific target audience comes under the purview of print advertising. People who read newspapers or other publications have a […]
Introduction to Corporate Communication: Need and its Importance
Why is Corporate Communication Needed? With the proliferation of activities that any company does, there needs to be a mechanism through which it advertises its achievements, answers queries about its performance, and has a window to the external world in times of crises and other catastrophes. The corporate communication department of any organization performs the […]
Customer Relationship Measurement – Meaning, its need and importance
Customers are the most important part of business. There cannot be any business without them. Only satisfied customers will be interested in buying and they will also refer other customers to buy. By measuring customer satisfaction a supplier can maintain a quality and long term relationship with customers and secure their future business and financial […]
B2B Exchanges Evolved Over Time
We are all familiar with the online buying on the internet. In fact with most people in developed countries, ordering groceries, online shopping as well as payment of utility bills and online banking has become a part of life. Internet we can say is a virtual global market. There are several types of businesses that […]
Brand Loyalty is a scenario where the consumer fears purchasing and consuming product from another brand which he does not trust. It is measured through methods like word of mouth publicity, repetitive buying, price sensitivity, commitment, brand trust, customer satisfaction, etc.
Brand loyalty is the extent to which a consumer constantly buys the same brand within a product category. The consumers remain loyal to a specific brand as long as it is available. They do not buy from other suppliers within the product category.
Brand loyalty exists when the consumer feels that the brand consists of right product characteristics and quality at right price. Even if the other brands are available at cheaper price or superior quality, the brand loyal consumer will stick to his brand.
Brand loyal consumers are the foundation of an organization. Greater loyalty levels lead to less marketing expenditure because the brand loyal customers promote the brand positively. Also, it acts as a means of launching and introducing more products that are targeted at same customers at less expenditure. It also restrains new competitors in the market. Brand loyalty is a key component of brand equity.
Brand loyalty can be developed through various measures such as quick service, ensuring quality products, continuous improvement, wide distribution network, etc. When consumers are brand loyal they love “you” for being “you”, and they will minutely consider any other alternative brand as a replacement.
Examples of brand loyalty can be seen in US where true Apple customers have the brand’s logo tattooed onto their bodies. Similarly in Finland, Nokia customers remained loyal to Nokia because they admired the design of the handsets or because of user- friendly menu system used by Nokia phones.
Brand loyalty can be defined as relative possibility of customer shifting to another brand in case there is a change in product’s features, price or quality. As brand loyalty increases, customers will respond less to competitive moves and actions.
Brand loyal customers:
A company having brand loyal customers will have greater sales, less marketing and advertising costs, and best pricing. This is because the brand loyal customers are less reluctant to shift to other brands, respond less to price changes and self- promote the brand as they perceive that their brand have unique value which is not provided by other competitive brands.
Brand loyalty is always developed post purchase. To develop brand loyalty, an organization should know their niche market, target them, support their product, ensure easy access of their product, provide customer satisfaction, bring constant innovation in their product and offer schemes on their product so as to ensure that customers repeatedly purchase the product.
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