BUISENESS MANAGEMENT
MARKETING
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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are always expensive
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inspire strong brand loyalty
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are not items a consumer actively shops to purchase
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must be unique, high-quality products
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Detailed explanation-1: -Key Takeaways 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: -1. Apple. Talk about brand loyalty in any part of the world and Apple tops the list. On 16th March 2021, it was noted that Apple’s brand loyalty reached an all-time high of 92% in comparison to 90.5% in 2019.
Detailed explanation-3: -Brand Insistence It’s the highest level of loyalty and the level every business is striving for with its audience. While a brand loyalist can reach brand insistence without ever purchasing a product, this is most common in customers.