Brand loyalty, Marketing Management

Assignment Help:

Brand loyalty:

The starting point in understanding brand equity is the extent to which a brand enjoys customer loyalty. It is important to discriminate between habitual buying and brand loyalty. For example, a housewife who repeatedly buy brand X of detergent powder may not necessarily be loyal to it. She might be buying either because competitor brands are not available or she does not find parity between brand X and competition or she may be buying just because of a habit. Many a time such repeat purchases are mistaken for brand loyalty. The real issue in the brand loyalty is whether the customer is a committed one and the test is if he or she will walk that extra mile to get it. In other words, will the customer go to another shop and ask for it or will he or she leave with the substitute long being offered to by the shopkeeper or the vendor? If the customer is indifferent to the brand buys for the features, price or convince, there is little equity in the brand. In the toy's market where no brand can distinctively claim differentiation on the features (as all use, by and large, the same technology and inputs) and invariably all brands are available in the market even if the remotest areas of north east price becomes the reason to buy. And that's where price was beginning. It is important for the firm to assess its committed customer base. Customer can be grouped under five categories depending on the attitude towards the brand.  


Related Discussions:- Brand loyalty

Three uses of line stretching, depict the concept of line stretching and th...

depict the concept of line stretching and the three uses for it?

Importance of effective communication, Importance of Effective communicatio...

Importance of Effective communication Effective communication is very important to organisations, which is why they use a variety of promotional tools. Advertising, sales promo

Sources of influence on attitude formation, Question 1: Altering consum...

Question 1: Altering consumer attitudes is a key strategy consideration for most marketers because consumers' attitudes towards a product will influence their buying behavior

What are levels in internal marketing, What are levels in internal marketin...

What are levels in internal marketing? Internal marketing should take place at two levels. Initial level, the various marketing functions are sales force, customer service, a

Explain about piecemeal modernization, Explain about piecemeal modernizatio...

Explain about piecemeal modernization in the line modernization. Piecemeal modernization is less of a drain upon the company’s cash flow. A main disadvantage of Piecemeal Moder

Elements of the marketing, Elements of the marketing: the marketing thinki...

Elements of the marketing: the marketing thinking starts with the customer needs. Today each marketer wants to retain and satisfy the customer because of the intense competition.

Marketing MBA 565, You are currently working for a company called Pierogi''...

You are currently working for a company called Pierogi''s and More....

Assingment, Marketing strategy development

Marketing strategy development

Write Your Message!

Captcha
Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd