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

Show the advantages and disadvantages of ecommerce, Question 1: Warigon...

Question 1: Warigon is a retail company and they want to automate the payment system. Consider that you are the design engineer of that company. What are the factors that yo

Market strategy, Customers in this market could be segmented in a variety o...

Customers in this market could be segmented in a variety of ways.  The product/service could be targeted to a number of different market segments and marketers could develop a vari

Basis for market segmentation, Q.   Describe how can a company divide a ma...

Q.   Describe how can a company divide a market into segments? O R Explain basis for market segmentation? Ans. :  Market may be segmented by using several relevant

Explain the stages in the Product Life Cycle with examples., Explain the st...

Explain the stages in the Product Life Cycle with examples.

Factors affecting marketing planning, Factors affecting marketing planning:...

Factors affecting marketing planning: a large number of factors affect the long term marketing planning. These factors can be grouped under four categories: Internal factors:

Marketing, what are advantages and disadvantages of five maketing philosoph...

what are advantages and disadvantages of five maketing philosophies

Pigeonhole principle, A binary relation R from A to B is said to be a funct...

A binary relation R from A to B is said to be a function if for every element a in A, there is a unique element b in B so that (a, b) is in R. For a function R from A to B, instead

Steps involved in the decision-making process, Question 1: The situatio...

Question 1: The situation confronting all managers in various industries, while dramatic, is not unique. The work of all managers is affected by two main environments: the exte

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