BUSINESS LOYALTY Essay

This essay has a total of 1150 words and 5 pages.

BUSINESS LOYALTY

Brand Loyalty
" Brand loyalty-that certain something that makes a consumer keep buying over and over
again-is an elusive quality. It begins with the consumer's preference for a product on the
basis of objective reasons-the drink is sweeter, the paper towel more absorbent. The brand
name is the customer's guarantee that he/she will get what they expect"(Fisher). As far
back as companies go the main question asked when selling their product, how can I get
people to purchase my product? This is still a very important issue in the day- to- day
operations of any company, but now they are asking a whole new question. In today's fast
changing markets, where people are bombarded by advertisements everywhere, people are
starting to realize that they don't need to stick with one product for life, and they see
that there are many substitutes available. As a result of this new type of market,
companies have started to put a large effort towards the development of Brand loyalty. I
shall explore the topic of Band loyalty and explain its importance in today's business
market, and how it motivates a consumer to purchase a given product or service.

The phrase Brand loyalty refers to consumers sticking with a brand out of feeling of
commitment for that brand. "Consumers attachments to certain brands are so powerful that
this loyalty is often considered as a product attribute in and of its self"(Solomon).
Solomon's quote, is showing the attachment that people feel when they purchase a product
for a long time, and are still very happy with it, is a huge plus in its self. People
enjoy the luxury of not having to scavenge around the supermarket in search of a new
product. Brand loyalty is also very attractive to the companies since they enjoy their
work being easier, and less costly. It is less expensive and less time consuming to keep
old customers, rather than spend money and time advertising towards new ones.
"Furthermore, companies with faithful customers tend to be less susceptible to economic
down turns or new competitors"(Harrell).

There are numerous ways that a company can create Brand loyalty. When the consumers can
name the brand for themselves, they are more likely to care about it. To help create that
relationship many companies create an entire culture around their brand. By giving the
consumer some degree of culture in addition to the product you are raising the level of
devotion and satisfaction for the consumer. Ben & Jerry's for example created a culture of
Hippie-era values and activism, this is one of the main reasons for their continued
success. Another way to create loyalty is to make donations to charities; these companies
might say that a percentage of the money would go to a specific charity. This makes the
consumer feel better about the amount of money they spent, and they also will feel good
about the company for being charitable, which in return will create Brand loyalty. With
the ever-growing concern for the environment many consumers now look for companies that
take conservation in mind when they make their products. For example many car
manufacturers are starting to make cars that are friendly towards the environment. This
not only attracts people to buy the car, but it also tends to make them loyal to that
brand. Customer service is another attribute that can create Brand Loyalty. When people
have problems, or questions about a product that they have purchased, or plan to purchase
Continues for 3 more pages >>