BUSINESS ADMINISTRATION
STRATEGIC MANAGEMENT
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Brand loyalty may be created by
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continuous advertising
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Patent protection
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Research and Development
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All of the above
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Explanation:
Detailed explanation-1: -The first and most important condition for brand loyalty is quality. No matter how large the marketing spend, poor quality will kill brand loyalty. Brand loyalty is measured through customer retention, customer lifetime value, and customer satisfaction surveys.
Detailed explanation-2: -Hard-core Loyals: Customers who buy exclusively from a brand. Split Loyals: Customers loyal to two or three brands in a particular category. Shifting Loyals: Customers who move from one brand to another.
Detailed explanation-3: -5 Characteristics of Brand Loyalty Those include customer perceived value, brand trust, customer satisfaction, repeat purchase behavior, and commitment.
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