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 ?
For details on links between consumer sentiment and the stock market, see Otoo (1999).
Changes in consumer sentiment lead to changes in actual purchasing behavior, according to the University of Michigan's monthly Consumer Sentiment index and Schaumburg, IL-based ACNielsen's U.
The traditional view of partisanship is challenged by time-series analyses showing that the distribution of party identification shifts markedly over short periods and moves in tandem with fluctuations in presidential popularity, consumer sentiment, or objective economic indicators of unemployment and inflation (MacKuen, Erikson, and Stimson 1989, 1992; Weisberg and Kimball 1995; Weisberg and Smith 1991).
The idea that consumer sentiment might cause output fluctuations is popular in the business press.
Consumer sentiment appeared to have rebounded sharply in early March from the low levels reached after Iraq's invasion of Kuwait.
Twice each year, the Bureau of Business and Economic Research calculates Montana's Index of Consumer Sentiment.
Increases in consumer sentiment around technology are expressly higher, not just on a sequential basis, but also on a year-over-year basis, a good sign headed into the important fourth quarter and holiday selling season," said Shawn DuBravac, CEA's chief economist and director of research.
Korea's consumer sentiment in November plunged to its lowest level in seven years.
Victorias economic strength continues to translate to strong consumer confidence, with the consumer sentiment index 5.
consumer sentiment has increased more than expected in June, a survey showed.
In January 2004 the report's measure of consumer sentiment reached 129 points, the highest level since the survey was begun in November 2010.
consumer sentiment data and comments from a Federal Reserve governor suggesting monetary stimulus tools may taper in September sent the dollar strengthening against most of its counterparts Friday.