The Relationship Between Brand Loyalty free essay sample

Evaluate the relationship between brand loyalty, corporate image, and repeat purchasing. Brand loyalty In marketing, brand loyalty comprises of a consumers commitment to repurchase the brand and can be demonstrated by repeated buying of manufactured goods or services or other positive conducts such as word of mouth advocacy. True brand loyalty involves that the consumers are willing, at least on event, to put aside their own needs in the interest of the brand. Brand loyalty is more than simple repurchasing, however. Customers may repurchase a brand due to situational constraints, a lack of viable alternatives, or out of convenience. 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. This type of loyalty can be a great asset to the firm: customers are willing to pay higher prices, they may cost less to serve, and can bring new customers to the firm. We will write a custom essay sample on The Relationship Between Brand Loyalty or any similar topic specifically for you Do Not WasteYour Time HIRE WRITER Only 13.90 / page For example, if Joe has brand loyalty to Company A, he will purchase Company As products even if Company Bs are cheaper and/or of a higher quality. An example of a major brand loyalty program that extended for several years and spread worldwide is Pepsi Stuff. Perhaps the most significant contemporary example of brand loyalty is the fervent devotion of many Mac users to the Apple company and its products. From the point of view of many marketers, loyalty to the brand in terms of consumer usage is a key factor. Corporate image A corporate image refers to how a company is perceived. It is a normally accepted image of what a company stands for. The formation of a corporate image is an implement in the perception management. It is created solely by marketing managers/consultants who use public relations and other forms of promotion to suggest a mental picture to the public. Usually, a corporate image is designed to be interesting to the public, so that the company can spark an interest among customers, create share of mind, create brand equity, and thus make easy product sales. A corporations image is not solely created by the company: Other contributors to a companys image could include news media, journalists, labour unions, environmental organizations, and other NGOs (non-governmental organization). Corporations are not the only form of organization that creates these types of images. Governments, charitable organizations, criminal organizations, religious organizations, political organizations, and educational organizations all tend to have a unique image, an image that is partially purposeful and partially unintended, partially self-created. For example, the corporate image for Serenity Spa Salon, which has an image of a lady, faced up with hair flowing down. This image gives the sense of relaxation where a lady can get her face and hair done. The soft colours used give an impression a relaxing ambience at the salon. Thus inviting tired women to come here and unwind while their hair and face are being treated. Only if the experience is a success for the customer will it be turned into repeat purchases. These repeats, not the single purchase which is the focus of most models, are where the vendors focus should be, for these are where the profits are generated. For example, Mrs Lee have tried the PILOT pen before and she thinks it is a comfortable pen to write with. She buys more for her office use which all suppliers are looking forward to. Some suppliers even gives a sample to trial on so that the customer will want to buy from them again as it satisfied them to use it. The Relationship Between Brand Loyalty free essay sample Evaluate the relationship between brand loyalty, corporate image, and repeat purchasing. Brand loyalty In marketing, brand loyalty comprises of a consumers commitment to repurchase the brand and can be demonstrated by repeated buying of manufactured goods or services or other positive conducts such as word of mouth advocacy. True brand loyalty involves that the consumers are willing, at least on event, to put aside their own needs in the interest of the brand. Brand loyalty is more than simple repurchasing, however. Customers may repurchase a brand due to situational constraints, a lack of viable alternatives, or out of convenience. 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. This type of loyalty can be a great asset to the firm: customers are willing to pay higher prices, they may cost less to serve, and can bring new customers to the firm. We will write a custom essay sample on The Relationship Between Brand Loyalty or any similar topic specifically for you Do Not WasteYour Time HIRE WRITER Only 13.90 / page For example, if Joe has brand loyalty to Company A, he will purchase Company As products even if Company Bs are cheaper and/or of a higher quality. An example of a major brand loyalty program that extended for several years and spread worldwide is Pepsi Stuff. Perhaps the most significant contemporary example of brand loyalty is the fervent devotion of many Mac users to the Apple company and its products. From the point of view of many marketers, loyalty to the brand in terms of consumer usage is a key factor. Corporate image A corporate image refers to how a company is perceived. It is a normally accepted image of what a company stands for. The formation of a corporate image is an implement in the perception management. It is created solely by marketing managers/consultants who use public relations and other forms of promotion to suggest a mental picture to the public. Usually, a corporate image is designed to be interesting to the public, so that the company can spark an interest among customers, create share of mind, create brand equity, and thus make easy product sales. A corporations image is not solely created by the company: Other contributors to a companys image could include news media, journalists, labour unions, environmental organizations, and other NGOs (non-governmental organization). Corporations are not the only form of organization that creates these types of images. Governments, charitable organizations, criminal organizations, religious organizations, political organizations, and educational organizations all tend to have a unique image, an image that is partially purposeful and partially unintended, partially self-created. For example, the corporate image for Serenity Spa Salon, which has an image of a lady, faced up with hair flowing down. This image gives the sense of relaxation where a lady can get her face and hair done. The soft colours used give an impression a relaxing ambience at the salon. Thus inviting tired women to come here and unwind while their hair and face are being treated. Repeat purchasing †¢REPEAT PURCHASE but in most cases this first purchase is best viewed as just a trial purchase. Only if the experience is a success for the customer will it be turned into repeat purchases. These repeats, not the single purchase which is the focus of most models, are where the vendors focus should be, for these are where the profits are generated. For example, Mrs Lee have tried the PILOT pen before and she thinks it is a comfortable pen to write with. She buys more for her office use which all suppliers are looking forward to. Some suppliers even gives a sample to trial on so that the customer will want to buy from them again as it satisfied them to use it.