ENTREPRENEURIAL MARKETING
MARKETING MIX
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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when a consumer uses the same washing machine for many years
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when a consumer keeps buying products from the same producer
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is when a manufacturer uses the same name for its products
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None of the above
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Detailed explanation-1: -Brand loyalty occurs when a customer chooses to repeatedly purchase a product produced by the same company instead of a substitute product produced by a competitor. For example, some people will always buy Coke at the grocery store, while other people will always purchase Pepsi.
Detailed explanation-2: -Brand Loyalty. The main difference between these two loyalty types is that customer loyalty revolves around customer spending, and brand loyalty is all about customer perception. Customer loyalty can be formed by having lower prices than competitors or better discounts and rewards programs.
Detailed explanation-3: -Hardcore Loyal: These are those buyers who buy only one brand all the time. Customers show their strong desire and use the same brand always. Since they feel comfortable and sense pride by using the product, people become hardcore loyal towards the product.