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 ?
Thus, building brand loyalty and understanding the factors which build brand loyalty has created interest in marketing domain.
The effects of these CSR initiatives on Consumer trust and Brand Loyalty are measured using a sample of 189 consumers.
The adoption of branded apps by corporations has drawn attention to this new marketing communication technique, encouraging brand loyalty and purchase intention (Park, Lee, & Lee, 2011).
M2 EQUITYBITES-November 9, 2015-Bond Brand Loyalty president and CEO Bob Macdonald elected to Loyalty360 board of advisors
This high-level discussion of how to engender brand loyalty deserves to be a seminal work on the subject.
Brand Loyalty is one of the most significant tools for any organization to survive in a severe competition.
Brand and brand loyalty come as a solution for creating a strong and long term competitive advantage for any business.
NEW YORK -- Enrollment in consumer loyalty programs is at an all-time high, says Bond Brand Loyalty, a unit of employee incentive and reward program designer Maritz Holdings Inc.
The ACCC closely examined the potential impact of brand loyalty towards the King Gee and Hard Yakka brands in assessing the proposed acquisition.
When a customer admires the brand that is able to enhance his/her self image then it will create brand loyalty (Durianto et al, 2001).
Other things equal, a strong brand also promotes brand loyalty and permits charging premium prices [21,27].