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Brand Loyalty

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Taylor Bettinger

on 13 December 2012

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Transcript of Brand Loyalty

Why are Consumers Brand Loyal? Convenience
Influence
Family
Friends/ Roommates
Co-workers
Religion
Culture

The best brand or product
BMW and Apple Brand Loyalty Once you become accustomed to a certain brand, it could be for life

Not only is brand loyalty a buying habit

Passion

Positive attitude

Brand loyal consumers upset with discontinuations What is Brand Loyalty? Defined: Why are Consumers Brand Loyal? Pricing
Sensitivity

Popular products must be good
Boston Consulting Group study

Brand Trust

Relationship

Consistency

Customer satisfaction Factors Effecting Brand Loyalty Brand Trust
Key factor in developing brand loyalty
Eliminates uncertainties
Brand characteristics are important
Trust in a brand positively related to brand loyalty

Online Brand Trust
Security and privacy

Emotional connection
Passionate about business
Integrity
Sincerity
Expertise
Apple’s Loyalty Incentives Effecting Brand Loyalty Incentives
Rewards cards benefit loyalty

Positive Correlation of brand image and loyalty program
Loyalty programs elevates relationship with customers

Barnes & Noble Readers’ Advantage Program Taylor Bettinger, Lauren May, Kyle Pliskin, Dave Swissman Brand Loyalty Consistent repeat purchasing of same brand

A bond between product and consumer that is very difficult for competitors to break

When consumers specified needs are met brand loyalty may be the outcome

Change in life or self- concept to weaken bond

Difficult bond to weaken Pareto Principle and Users also known as the 80-20 rule

80 percent of sales comes from 20 percent of the clients; target these users

Heavy Users
Split Loyals
Shifting Loyals
Switchers "7 Tips for Building Brand Loyalty in a Discounted Obsessed Market" 1.Keep quality high
2.Engage your customers
3.Solicit feedback from consumers
4.Give them a reason to come back
5.Stay relevant
6.Provide Value
7.Show your appreciation. “The online shopping trend conditions consumers to only make a purchase if there is a deep discount. The result is a value obsessed economy where consumers have no incentive to be loyal to any particular brand.” Brand Personality and Brand Loyalty Successful Brand Personality key to Brand Loyalty
Consumers won’t be loyal if company doesn’t live up to it’s standards

Brand Personality and affects on Brand equity
Extent consumer is willing to pay more and be loyal to brand Work Cited Duffy, Dennis L. "Internal and external factors which affect customer loyalty." Journal of Consumer Marketing 20.5 (2003): 480-85. Emerald Insight. Web. 10 Dec. 2012.

Gommans, Marcel, Krish S. Krishnan, and Katrin B. Scheffold. "From Brand Loyalty to E-Loyalty: A Conceptual Framework." Journal of Economic and Social Research 3.1 (2001): 43-58. Faith.edu. Web. 11 Dec. 2012.

Goodson, Scott. "Is Brand Loyalty the Core to Apple's Success?" Forbes. N.p., 27 Nov. 2011. Web. 10 Dec. 2012.

Lau, Geok Theng, and Sook Han Lee. "Consumers' Trust in a Brand and the Link to Brand Loyalty." Journal of Market-Focused Management 4.4 (1999): 341-70. Springer. Web. 10 Dec. 2012.

Moorman, Christine, Rohit Deshpandé, and Gerald Zaltman. "Factors Affecting Trust in Market Research Relationships." Journal Of Marketing 57 (2003): 81-101. JSTOR. Web. 10 Dec. 2012.

Soloman, Michael R. Buying, Having, and Being. 9th ed. Upper Saddle River: Pearson Education, 2011. Print. New Products Creating Loyalty The brand has a good cause

Sell the information… not hype

Be a pioneer of the product

Sell on quality not price

Get to know the consumer



Perceive higher risk than goods
Less likely to switch the service
Loyal customers
Harder to observe Services: International Differences Brand loyalty differs from country to country
Japan: people worship brands… individual preference is muted
U.K: 60% of shoppers stick with favorite brands
Different in U.S
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