BRAND LOYALTY

Brand Loyalty

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Brand Loyalty

Marketing strategies of business firms and their brands must go parallel, not only for the competition at national level brands but also with international brands. This theme adds a range of new dimensions in the business world for attracting and retaining customers. In the business terminology, brand loyalty, is the commitment of customers with a particular product and services. Consumers are repeatedly buying the same brands and hence, proving their loyalties. Bands are valuable assets and helping the business organisations to achieve economic stability as well as the competitive advantage against its competitors. Firms must analyse the importance of brand loyalty and develop measures that further assist them for making, preserving, modifying and evaluating the brands and their loyalties (Ovidiu & Dung, 2011). Company products and services are trademark of and brand is the source for that. A brand with no loyalty from its customers is just a trademark. Brands with loyalties from customers are more than a trademark and show a trust mark. Business individuals must know how to create value for their offered brand and plan strategies to make these brands stronger (Light, 1994).

Brand loyalty involves customer loyalty schemes for retaining customers. However, sustain brand loyalty is the objective that needs to be accomplished by the business firms. On the other hand, customer loyalties schemes provide a little contribution of its support to the overall strategy (O'Malley, 1998). Rewards and card systems in Loyalty is a tool of customer relationship management. The purpose of loyalty programs is to give rewards to your customers. Technology advancements enable the retailers to introduce rewards and membership based loyalty cards to acquire opportunities from customers (Warren, 2005). These loyalties schemes are introduced by various retailers and other service providers. These schemes usually provide a card, which add credit pint when the customer makes a purchase. The customer fills a form for its credentials and all the information then store in the database of that loyalty scheme. Customer purchasing portfolio is established. This assortment has all the details of purchasing records of a customer. On the other hand, customer receives offers, information and points on purchasing products at every attempt (Rowley, 2005). Figure 1 shows the key points that are responsible for brand loyalty.

Figure 1: Significance of Brand Loyalty

Source: www.goolge.com

The customer behaviour of purchasing is not random today; because the concept of brand loyalty is involved in this era. It has observed that price is a factor that influences the customer purchasing behaviour other than the brand loyalty because with respect to price, customers are using comparison phenomena among the products. This thing may affect the brand loyalty (Rodolfo & Begoña, 2007). The product involvement relation of a customer is varying with respect to the satisfaction and loyalty for that particular product. The study suggests the involvement of contextual factors may control the brand loyalty and consumer purchasing decision behaviour (Shukla, 2009).

The objectives of current customer reward systems and ...