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Sunday, September 25, 2011

BRAND LOYALTY

I consider myself a brand loyal customer. My grocery list and my cart almost always contain the same brands everytime I go shopping. I guess this also goes with how I am resistant to change, but somehow this consumer trait has served me well.

From Wikipedia, I got this article.

The American Marketing Association defines brand loyalty as:

The situation in which a consumer generally buys the same manufacturer-originated product or service repeatedly over time rather than buying from multiple suppliers within the category (sales promotion definition).
The degree to which a consumer consistently purchases the same brand within a product class (consumer behavior definition).[1]
Otherwise stated, brand loyalty, in marketing, consists of a consumer's commitment to repurchase or otherwise continue using the brand and can be demonstrated by repeated buying of a product or service, or other positive behaviors such as word of mouth advocacy.[2]

Brand loyalty is more than simple repurchasing, however. Customers may repurchase a brand due to situational constraints (such as vendor lock-in), a lack of viable alternatives, or out of convenience.[4] Such loyalty is referred to as "spurious loyalty". True brand loyalty exists when customers have a high relative attitude toward the brand which is then exhibited through repurchase behavior.[2] This type of loyalty can be a great asset to the firm: customers are willing to pay higher prices, they may cost less to serve, and can bring new customers to the firm.[5][6] For example, if Joe has brand loyalty to Company A he will purchase Company A's products even if Company B's are cheaper and/or of a higher quality.

- end of Wikipedia article -

Why I am writing this article is because I want to share the brands I have stayed loyal to. Each post for the coming days shall feature at least one product.

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