brand loyalty


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Brand Loyalty

The propensity for a consumer to buy a product again. Brand loyalty begins when a customer has a positive experience with a product; however, such purchasing may end up as simply a habit (albeit a revenue-producing habit). It is important for companies to build their brand awareness (or knowledge that their products are available) and to produce quality goods in the first place in order to build brand loyalty.

brand loyalty

the extent to which consumers buy a particular BRAND of a product in preference to similar brands. Consumers may be totally loyal to a single brand but more usually will switch irregularly between two or more brands. Brand loyalty will depend largely upon consumer satisfaction with the intrinsic qualities and attributes of the brand but may also be swayed by persuasive ADVERTISING and SALES PROMOTION.

Strong brand loyalty serves to protect and increase the firm's MARKET SHARE vis-à-vis competitors, and may afford opportunities to charge a premium price for the brand. See BRANDING, BRAND SWITCHING, COMPETITIVE ADVANTAGE.

brand loyalty

the continuing willingness of consumers to purchase and repurchase the brand of a particular supplier in preference to competitive products. Suppliers cultivate brand loyalty by PRODUCT-DIFFERENTIATION strategies aimed at emphasizing real and imaginary differences between competing brands. See ADVERTISING.
References in periodicals archive ?
9, 2015 /PRNewswire/ - Bond Brand Loyalty President and CEO Bob Macdonald builds on his commitment to the industry in joining the Board of Advisors for Loyalty360 -- The Loyalty Marketer's Association.
Industry feedback suggests that brand loyalty has diminished over recent years as customers become more focused on quality, price and service, Mr Sims said.
Other things equal, a strong brand also promotes brand loyalty and permits charging premium prices [21,27].
Some studies imply that brand loyalty leads to distributor loyalty (Corsijens and Lal 2000; Huber and Herrmann 2001; Sudhir and Talukdar 2004; Hansen and Singh 2008), whereas others suggest a reverse causal relationship (Carman 1970; Bloemer and Lemmink 1992; Ewing 2000; Ailawadi, Neslin and Gedenk 2001; Bonfrer and Chintagunta 2004; Verhoef et al.
The best a health care system can do to promote brand loyalty is to hire competent, empathic, likable physicians and figure out a way to retain them.
Quinn's contention is that major national brands and some regional brands soon will watch their final sunsets as the hunt for low prices now outweighs old-fashioned consumer brand loyalty.
In the CPG world, brand loyalty is the golden ring.
com)-- Everyone pledges allegiance to their favorite brands, but some brands give consumers an extra push with brand loyalty incentives.
Fluctuating food prices, however, may cause consumers to forego brand loyalty and choose less expensive store or generic products.
Given the influence of social media in spreading and creating word-of-mouth opinions about brands, brand loyalty is more important than ever.
Experian Automotive, a part of Experian, has recognised six Ford vehicles among industry's top 10 for customer brand loyalty.
It may be that the product brand is the only one available to the consumer, such as in a monopoly market place situation or, it may be simply consumer inertia: repetitive consumer behavior and the path of least resistance or, it may be that brand loyalty is more the result of indifference than choice if all brand have the same basic ingredients, cost about the same, and perform at the same level, it really doesn't matter which brand the consumer buy--they get the same benefits.