BUISENESS MANAGEMENT
MARKETING
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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The positive association consumers attach to a particular product or brand.
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The promotion of a particular product by means of advertising
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The use of market research and advertising to promote and sell products or services
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The combination of factors used to influence consumers to purchase a company’s products
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Detailed explanation-1: -Brand loyalty is when customers continue to purchase from the same brand over and over again, despite competitors offering similar products or services. Not only do customers continue engaging and purchasing from the same brand, but they also associate positive feelings toward that brand.
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: -Brand loyalty has everything to do with how consumers perceive your brand. This may be through promotional activities, reputation, or previous experiences with your company. Consumers are loyal to a brand because they believe you offer a better service and higher quality than anyone else.
Detailed explanation-4: -Brand loyalty is perception-based (image and experience); customer loyalty is money-based (prices and discounts). Brand-loyal customers believe that a certain brand represents higher quality and better service than any competitor-and price does not matter.
Detailed explanation-5: -5 Characteristics of Brand Loyalty Those include customer perceived value, brand trust, customer satisfaction, repeat purchase behavior, and commitment.