brand loyalty

Examples of brand loyalty in the following topics:

• Brand Loyalty

  • Brand loyalty entails commitment and repeated consumer purchase behavior following perceived value, satisfaction, and brand trust.
  • Some fairly well-known examples of brand loyalty promotions include: My Coke Rewards, Pepsi Stuff, and the Marriott Rewards loyalty programs.
  • In marketing, brand loyalty refers to a consumer's commitment to repurchase or otherwise continue using a particular brand by repeatedly buying a product or service.
  • Commitment and repeated purchase behavior are considered as necessary conditions for brand loyalty, followed by perceived value, satisfaction, and brand trust.
  • Describe the conditions that must be met to achieve brand loyalty, and the consumer behaviors associated with brand loyalty

• Long-Term Relationships: Satisfaction and Loyalty

  • Brand loyalty is more than simple repurchasing, however.
  • Such loyalty is referred to as "spurious loyalty. " True brand loyalty exists when customers have a high relative attitude toward the brand which is then exhibited through repurchase behavior.
  • Brand loyalty is viewed as a multidimensional construct.
  • Commitment and repeated purchase behavior are considered as necessary conditions for brand loyalty followed by perceived value, satisfaction, and brand trust.
  • Fred Reichheld, one of the most influential writers on brand loyalty, claimed that enhancing customer loyalty could have dramatic effects on profitability.

• Brand Management Strategies

  • Brand management is a wide and varied study of the various approaches organizations can take to maximize consumer awareness, engagement, retention, and loyalty.
  • Through creating a lasting impression and meaningful relationship with users, organizations can retain customers and create brand loyalty.
  • Brand loyalty simply means that customers, when making a purchase to fulfill a given need, will default to their brand of choice.
  • Multi-product Branding – The inverse of individual branding in some ways, multi-product branding allows companies like Samsung, Apple, Sony, and Virgin to focus consumer loyalty on the broader parent brand.
  • Sub-branding – Something of a cross between individual and multi-product branding, sub-branding allows an organization to create relatively large sub-brands for given product groups.

• The Many Goals of Persuasion

  • By promoting their brand in creative and compelling ways, companies hope to create positive esteem and loyalty toward the brand to fuel repeat purchases and customer retention.
  • Branding, product marketing, and loyalty marketing all form part of the customer proposition – the subjective assessment by the customer on whether to purchase a brand based on the value they receive from each of these marketing elements.
  • The airline industry's frequent flyer program is a successful example of loyalty marketing.
  • These programs rely on the earned loyalty of current customers to attract new loyalty from future customers.
  • Companies such as T-Mobile use special promotions to drive repeat business and brand loyalty.

• B2B Company Characteristics

  • Strong brands imply lower risk of using them; buying unfamiliar brands implies financial risks.
  • For consumer brands, the buyer is an individual.
  • Brand loyalty in B2B is therefore much higher than in consumer goods markets.
  • Ultimately, a strong B2B brand will reduce the perceived risk for the buyer and help sell the brand.
  • B2B promotions work differently from B2C brand promotions.

• Promotional Methods

  • Promotional methods in business-to-business (B2B) marketing differ from those of business-to-consumer (B2C) brands due to the specific needs and variables comprising the industrial business market.
  • Since B2B customers are other companies and organizations, B2B brands avoid mass market broadcasts.
  • B2B companies also ensure their brands are represented at industry events where potential customers meet B2B sellers.
  • Relationship building is a key aspect in B2B marketing, as brand loyalty and commitment tend to be higher among business customers compared to consumers.
  • Social media is fast becoming a promotional tool used to position B2B brands in the digital sphere.

• Value of Branding

  • Branding is a long term exercise, but one that reaps long-term profitability through increased customer loyalty.
  • "Branding is a way to create an emotional connection with a specific audience. " - Troika, a network branding company.
  • What is the Purpose of Branding and Why Is It So Important?
  • Branding involves researching, developing, and implementing brand names, brand marks, trade characters, and trademarks.
  • Branding helps create loyalty, decreases the risk of losing market share to the competition by establishing a differential advantage, and allow premium pricing that is acceptable by the consumer because of the perceived value of the brand.

• Loyalty Marketing

  • Branding, product marketing and loyalty marketing all form part of the customer proposition – the subjective assessment by the customer of whether to purchase a brand or not, based on the integrated combination of the value they receive from each of these marketing disciplines.
  • Some loyalty marketing industry insiders, such as Fred Reichheld, have claimed a strong link between customer loyalty marketing and customer referral.
  • The early part of 2010 saw the rise of Card Linked Offers (CLOs) as a new loyalty marketing technique for brands, retailers and financial institutions, stemming from a rise in popularity of both mobile payment and coupons.
  • Others, like MazeCard, have offered consolidated loyalty marketing schemes in other continents.
  • In his book, Loyalty Rules!

• Brand Equity

  • Brand equity is the value of a brand that is well-known and conjures positive associations, which helps it remain relevant and competitive.
  • This is why brand equity is oftentimes directly correlated with a brand's profitability.
  • In marketing, brand equity refers to the value of a brand that is well-known and conjures positive mental and emotional associations.
  • This is why brand equity is oftentimes directly correlated with a brand's profitability.
  • List the 10 attributes used to measure brand equity according to marketing professor and brand consultant David Aaker

• Premiums

  • The Better Crocker Promotional ExampleIn 1929, Betty Crocker began a series of sales promotions that blended premiums, coupons and a loyalty program; it issued redeemable coupons that could be traded for free flatware and other household wares.
  • With it, one of the earliest loyalty programs ended a 77 year tradition.
  • One of the first loyalty marketing programs ever offered was a premium in which proof of purchase was redeemed for prizes or gifts.
  • Some marketing experts believe that coupon over-use damages a brand's image, while premiums can actually enhance it.
  • Marketers benefits from store or manufacture premiums as they add value to their brand.