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.
Farlex Financial Dictionary. © 2012 Farlex, Inc. All Rights Reserved

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.

Collins Dictionary of Business, 3rd ed. © 2002, 2005 C Pass, B Lowes, A Pendleton, L Chadwick, D O’Reilly and M Afferson

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.
Collins Dictionary of Economics, 4th ed. © C. Pass, B. Lowes, L. Davies 2005
References in periodicals archive ?
Nike plans to launch a new subscription service for kids sneakers this week that seeks to woo parents with an offer of fewer trips to the shoe store in exchange for a regular fee and consistent brand loyalty, Reuters' Nivedita Balu reports.
Apple's brand loyalty dropped to 73%, down 18 percentage points from last year to its lowest level in eight years.
Brand loyalty among customers is on the decline due to intense competition.
The first phase of the release was to understand the issues people face on their smartphones and the features they look out for when making a choice for their next smartphone, while the second phase is focused on understanding brand loyalty and switching preferences.
To do so, a consumer survey was developed to evaluate brand loyalty formation for two brands of a commonly purchased fast-moving consumer good (shower gel).
From the organisation perspective, brand loyalty is regarded a crucial marketing issue as loyalty leads to maximum WOM, company stability and greater profits and inferior price sensibility (Hallowell, 1996; Lynch and Ariely, 2000; So et al., 2014).
Barisan Nasional (BN) may just return to power within the next five years as young voters do not subscribe to 'brand loyalty', Datuk Seri Mohamad Hasan said.
To create insights that can help brands understand the market and tap into trends based on customer behavior, the study took a close look at what brand loyalty means to each of these segments:
Proudly proclaim your brand loyalty with a fully licensed tractor brand mailbox from Distel Grain Systems.