The Brand Of Brand Loyalty

Customer loyalty plays a very vital role in an organization’s success or not always, is a very interesting debate. It has been suggested at several literature that loyal customer generates ongoing revenue and they also assist in generating profitable business income to any organization. At the same time research also suggests that there are other views available in relation to the concept of loyalty. The important factor to understand is weather those factors lead to long term business profitability or not. In my opinion regardless of other considerations, customer loyalty plays a great input in the business benefits and revenue. Today’s literature review will put some light on both customer loyalty as well as other consideration. It will further emphases the importance of the customer loyalty aspect and its impact on the revenue of the firm by supporting the concept of customer loyalty.

Developing a loyalty program is challenging. You team must understand what will keep your current customers interested and what will spark them to purchase multiple times.

Over the decades there were tremendous amount of challenges for every business. Customers have more knowledge, they have more options, and they have higher expectations. Customers are more informed with the humungous development in technology. Having more options in front of them, expectations has surpassed in retail industry. Loyalty is a customer having faith that your organization’s product or services offered is the best for them. It is the process of tapping the buying pattern of customers in a store based on their preferences. Customer loyalty is significant because it is economical to retain the old customers rather than acquiring new customers. So, organizations employ loyalty programs which reward customers for their repeat business.

7. Consumer loyalty needs to be increased: - The main recommendation is to increase the good relationship with the consumer at all. The reason is that if there is a good relationship between the organisation and the consumer then the benefit will be to the organisation as good relationship sometimes helps to reduce expense on the other factors like huge expense that is done on the advertising of the brand of the organisation. In Asian markets, areas such as relationship building and a ‘benefit-the-country’ attitude are sometimes more important than investing enormous amounts on advertising (LaForet and Chen, 2012).

Many marketers agree that by reducing customer’s to competitors defection by only 5 per cent, companies can improve profits by anywhere from 25 per cent to 95 per cent. There is no question this will be a great advantage and could benefit any retailer. It is for this very reason why consumer’s relationship marketing and using tools such as loyalty scheme is

In order to build and sustain a competitive edge, service organization need to strive to maintain a superior quality of services in an effort to gain customer loyalty, hence improving customer retention rates.(Kadampully,1998)

Customer Satisfaction and Loyalty has become, throughout years, not only an important marketing tool but also an integrated part of a company structure. Competition has become fierce and competitors in a market are trying constantly to prove that their products and services are better than others. Therefore, being able to satisfy and retain customers will definitely create a competitive edge over competitors but will also reduce cost while creating long term relationship with customers.

characteristics of the setting in which the consumer consumes the service as well as everything that the

Loyal customers are excessively important to any business, and businesses spend great amount of their time, energy and money analyzing and captivate those customers. However, the usual definition of a loyal customer that we consider is a high spending customer, and that definition is imperfect. Marketing to customers — based on true loyalty — requires more: complicated measurement, better spend data, and considering that a regular customer is not the same as a loyal customer.

As a company, customer mentality is important for them to affect the volume of business. Brand loyalty is one of related issues of customer purchasing choices. FOONG YEE and YAHYAH (2008) stated that many companies, especially those in the sportswear industry try to enhance brand loyalty among their customers.

Brand loyalty, long a central construct in marketing, is a measure of the attachment that a customer has to a brand. It reflects how likely a customer will be to switch to another brand, especially when that brand makes a change, either in price or in product features. As brand loyalty increases, the vulnerability of the customer base to competitive action is reduced. It is one indicator of brand equity which is demonstrably linked to future profits, since brand loyalty directly translates into future sales.

In order to survive in the competitive business environment organisations have to concentrate upon strengthening their consumer’s satisfaction strategies for ensuring consumer loyalty in the long run of business. In order to incorporate a long term customer retention strategy, organisations are in immediate need for assessing and unveiling the reasons and elements prior to the designing and implementation process of the consumer retention programmes. The importance of consumer loyalty could be

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Investigate how the three variables (i.e. similarity, overload, Uncertainty) affect consumer’s decision postponement and brand loyalty, concerning low involvement products. A conceptual framework based on consumer behavior – and consumer confusion literature, was utilized to form six hypotheses predicting the causality between the different variables. After validating and adapting the space to data gathered through a survey, regarding Indian Population purchasing habits of Biscuits, 2 standard multiple regressions revealed that one hypothesis was supported; overload confusion proneness decreases brand loyalty in a low involvement product category. All implications were then discussed from Practitioners and researchers points of view, concluding with possible limitations and further research.

The term “Brand Loyalty” also called as “Customer Loyalty” has been in the business industry since a very long time as a model to be used in conducting business. But it wasn’t until the mid to late 1900’s that the term was actually given its due importance by making it a vital part of advertising and marketing. The concept of marketing evolved substantially from being focused on sales of a product to having Customer satisfaction to be its focal point. Studies further revealed that there was a positive correlation between customer satisfaction and Brand Loyalty.