MANAGEMENT

Detailed explanation-1: -Brand loyalty-repeat purchases of a particular brand based on the perception of higher quality and better service than any competitor-is not dependent on price. Companies with high scores on brand loyalty grow revenues 2.5 times faster than industry peers.

Detailed explanation-2: -Habitual buying behavior This type of consumer buying behavior is characterized by low involvement in a purchase decision. A client sees no significant difference among brands and buys habitual goods over a long period. An example of habitual buying behavior is purchasing everyday products.

Detailed explanation-3: -What is a Repeat Purchase? A repeat purchase is the purchase by a consumer of a same-brand product as bought on a previous occasion. A repeat purchase is an indicator of a degree of customer loyalty to a brand. It is also an opportunity for marketers to establish long-term customer relationships.

Detailed explanation-4: -Repeat purchases are when customers purchase certain goods or services to replace the same object or service they bought previously. Repeating purchases can show a customer’s loyalty toward a brand and may reduce the brand’s costs for acquiring new customers.