Brand loyalty means repeated consumption, use or purchase of a brand by the consumer. It’s a function of several factors such as the perceived quality of the brand its perceived valued ,its image, the trust placed in the brand and the commitment the consumer feels towards it.
For E.g a person entered into a store to buy a Dove shampoo move out of the store to buy it elsewhere for being out stock.
Strategic Advantages of Brand Loyalty for a Brand or a Company
- It decreases Marketing Expenditure of the company
- Acts as entry barrier for competitors.
- Generate positive world of mouth by its consumer
- Provides leverage while dealing with Retailers.
- Enhances the ability to add line and brand extensions.
How to build Brand Loyalty
- Creating a truly Differentiated Brand.
- Keep the brand relevant for its loyal consumers.
- Allow customer participation in brand strategies.
- Providing real value to the customers.
- Focus on providing a complete brand experience.