Essay on Loyalty

The brands of today are evolving and changing faster than ever. Face to face interaction, sentiment, and loyalty are now less valued by the consumer than they were years ago. We talk about how to gain this loyalty and sentiment later in the report. Technology and e-commerce have changed the values of the consumer and now we value speed, ease, and low prices. The idea of a brand changes with time due many social and economic trends but the effect it has on consumer buying behavior will be researched

retaining current customers which brings in the concept of customer loyalty. Customer loyalty is the ongoing process of customers buying products or services from a specific company (Gustavsson, 2005). For most companies, retaining customers costs less than attracting new ones and also reduces expenses on promoting products. In order to reach this aim, the organization constantly increases customer loyalty by carrying out loyalty programs to reward the remaining customers for repeated transactions

relevant facts. Objective of the study: Study of loyalty programs of Shoppers Stop and Pantaloons. • Are these programs really effective in enhancing the customer experience. • How much profitable does the loyalty programs prove to be, for a customer centric apparel retailer. Most customers hold several loyalty cards of competing retailers. Past studies looking into the impact of card ownership on store loyalty showed mixed results. Loyalty cards are effective only when customers value the

The main concept of brand loyalty has been approached from three different factors which is behavioral, attitudinal and composite loyalty. The researchers have their own assumption or known as behavioral view which they assume that the loyalty of a guest toward a brand is based on the repeat transactions occur. The study of O’Malley (1988) show that this approach provides a more realistic picture on how well the brand is performing compare to other competitors. However, this approach have been criticized

2.1 Brand Loyalty 2.1.1 Definition According to Investopedia.com, brand loyalty is when the consumers became committed to their favorite brand and repeat their purchases over time. Brand loyalty is the result of consumer behavior and is affected by consumer’s preferences. Brand loyalty could also be defined as the strength of preference for a brand compared to other available options that is similar. This is often measured in terms of repeated purchase or price sensitivity (Brandchannel.com, 2006)

Introduction : In spite of the great practical approach the impact and evaluation of loyalty card are very limited in terms of academic interest because the effectiveness of loyalty program has questionable from the customer behavior point of view. We refer some studies to evaluate the impact of loyalty card in business. This essay will firstly discuss what is a loyalty card ? The loyalty card is defined that a plastic card given by a business to the customer which has earned a reward

The impact of Brand Loyalty on Consumer preferences By Muhammad Faizan EP-110253 ABSTRACTS: This research investigates the impact of Brand Loyalty on consumer preference. Independent Variables selected for this research were Brand Image, Brand quality, Brand perception to explore the impact of these independent

Loyalty While I’m an atypical U.S. consumer who doesn’t buy into marketing hype, I do have strong product/service loyalty affiliations. I’ll try to keep my Journal entry under 1000 words! I like to revisit the meaning of familiar words. Merriam-Webster (n.d.) defines loyalty as, “The quality or state or an instance of being loyal”. This is exactly what brand loyalty and loyalty programs are trying to create: an ongoing experience with multiple touch-points that captures followers and keeps them engaged

understanding the reasons for brand loyalty, as there is a literature gap in this area of marketing management. A lot of researches been done in the past on the benefits of brand loyalty but there is a literature gap on how an organisation can build brand loyalty. The literature of market is still debating of what compromises brand loyalty (Chaudhuri & Holbrook, 2001). The literature review analyses the general theories surrounding the concept of brand loyalty in previously adapted marketing management

Over time, businesses have recognised that brand loyalty plays a key role in sustaining steady demand and sales flows over time (Aaker, 1991). In fact, Gralpois, (1998), as cited by Lodorfos, Mulvana and Temperley, (2006), labels brand loyalty as a fundamental asset of any business. Findings by Keiningham et al., (2006) have shown that it costs on average, five times more to replace a customer than it does to retain one. This underlines how businesses cannot afford to lose loyal customers and simply