This website uses cookies to ensure you have the best experience. Learn more

Literature Review

4562 words - 19 pages

Brand Loyalty and Its Measurement |
Literature review |

Brand Loyalty and Its Measurement |
Literature review |

Brand Loyalty 2
Advantages of Brand Loyalty: 3
The Four Pillars of Brand Loyalty Marketing 4
Keep Your Loyal Customers Loyal 4
The Sale Is Not the End of the Marketing Task 4
Branding Policy Is Business Policy 4
Three Dimensional Model of Brand Loyalty 5
Measures of Brand Loyalty 6
Trust-based Commitment model 7
The Multidimensional model 8
Net Promoter Score model 8
Multivariate Analysis of Brand Loyalty 9
Involvement/ Support Model 13
References 14

Brand Loyalty
The success of a firm depends largely on its ...view middle of the document...

According to Aaker, brand loyalty reflects how likely a customer will be to switch to another brand, especially when that brand makes a change, either in price or product features. David Aaker also suggests that brand loyalty leads to brand equity, which leads to business profitability.
According to the definition given by Jacoby and Chestnut, bland loyalty is “the biased behavioral response expressed over time by some decision making unit with respect to one or more alternative brands out of a set of such brands and is a function of psychological processes.
Brand and customer loyalty is a buyer’s overall attachment or deep commitment to a product, service, brand, or organization. Without the loyalty of its customers, a brand is a mere trademark. With the loyalty of its customers, a brand is a trust mark. The loyalty concept is similar in meaning to relationship commitment. When a customer invests trust in a brand, a bond grows between the customer and the brand. Loyalty results in behaviours like recommending a service provider to other customers and repeatedly patronizing the provider. Loyalty is a prime determinant of long-term financial performance of firms. This is particularly true for service firms where increased loyalty can substantially increase profits. Service firms focus on achieving customer satisfaction and loyalty by delivering superior value, an underlying source of competitive advantage. For service firms the challenge is identifying the critical factors that determine customer satisfaction and loyalty.
A brand as a distinguishing name/sign/symbol/design which identifies a trustworthy, relevant and distinctive promise associated with a product, service or organization and is intended to set apart that promise from those of competitors. A power brand is a leading trustworthy, relevant, distinctive promise. It is a trust mark of enormous value. Creating and increasing brand loyalty results in a corresponding increase in the value of the trust mark.
While talking about Brand Loyalty, Brand Equity is an important concept. Brand equity is a relatively new marketing concept. It represents the financial value of the brand separate from the value of the product or service to which it is attached. In other words, brand equity is the added value that the brand adds to the product or service. While there are various approaches to valuing brand equity, the results are consistent that brands can be worth billions.
While marketers have in the past viewed brands as assets, we now know and recognize that the real asset is brand loyalty. The process by which we create, nurture, build and strengthen the bond between a customer and a brand is called Brand Loyalty Marketing. The greater the strength of the brand bond, the greater and more valuable the brand.
Advantages of Brand Loyalty:
♦ A substantial entry barrier to competitors,
♦ An increase in the firm’s ability to respond to competitive threats,
♦ Greater sales and revenue
♦ A...

Other Papers Like Literature Review

Review Literature

4482 words - 18 pages 2. LITERATURE REVIEW. In the context of India’s tea export, there exists vast literatures .But for this study we have included some of the important empirical works which are matched with our objectives. Chand and Tiwari,(1991),analyzead growth and instability of India’s export and import of agricultural commodities. Jaganathan , (1992) , in his paper examined the instabilities of export earnings of selected groups and selected

Literature Review

931 words - 4 pages Literature Review Internet usage is increasing from time to time in any parts of the world including Malaysia. Malaysia is one of the developing country with enormous potential for online shopping to growth as almost all Malaysian houses are now equipped with high-speed internet access connection at a lower price. As the internet access is getting more advance, it change our lifestyle. From brick-and-mortar trading, the new era now is all

Literature Review

1198 words - 5 pages English 1302 Literature Review: Muslims in the Western Society Society these days are unaware of how they perceive Islam and Muslims whether it is to be in an educational sense of their teachings, or portraying them in negative roles when they write. This is all similar in the writings of the books and journals that the authors: Chan, Norris and Ronald, Susan and Ross, Muhammad and Zain, and Kassim have presented. They have presented us

Literature Review

1278 words - 6 pages promoted mid-year the following school year. A review of these students’ average data showed that absenteeism and discipline were issues, but that the students performed on or close to grade level on standardized tests. A group was formed to determine root causes and develop a plan of action to reduce the number of students that are retained each year and help those that have been retained to get back on track. A consensus was reached that a

Literature Review - 795 words

795 words - 4 pages Review of Literature Every student has their own story, set of experiences, and abilities. Overtime, teachers have quickly realized that they cannot reach all students with a-one-size-fits-all approach to instruction. Therefore, the goal of a “differentiated classroom” is to maximize growth and individual success of each student by providing different avenues for the students to learn the content, to process the information and ideas, and

Literature Review - 5274 words

5274 words - 22 pages LITERATURE REVIEW The researcher will review existing literatures on customer service in the banking industry of Ghana. This chapter takes a look at the various variables that may influence important customer service amid fierce competition from the perspective of some writers and researchers. It starts with profile of the banking industry under study through to the importance and nature of the customer practices, Customer Satisfaction

Literature Review - 3082 words

3082 words - 13 pages Literature Review Being victimized as a child can stick with you for life. There are many things that you can never forget and abuse is one of them. Child abuse is my topic of choice because it has impacted me on various levels; in some cases, not mine in particular; it can mold you to be a person that you grow to dislike. Child abuse is determined by the state laws, but according to Child Welfare Information Gateway all states

Literature Review - 1064 words

1064 words - 5 pages Assignment 2: Annotated Outline and Reference List for Literature Review by John Doe EDD 9200 CRN 24329 Trends and Issues: Society, the Individual, and the Professions Nova Southeastern University November 08, 2010 Topic: The Increase of Obesity Amongst Teens has Damaging Effects I. Introduction A. Establish the understanding of the topic 1. What is obesity? Cite definitions and

Literature Review - 5044 words

5044 words - 21 pages that rules the two nations is the biggest reason for different outcomes when faced with globalization; India had continuous strife with its neighbour while Vietnam maintained diplomatic relations with its neighbours in spite of the nation’s closed-country policies. Literature Review: Michel Chossudovsky’s book examines the various aspects of how globalization and particularly the International Monetary Fund has had an impact on a number of

Literature Review Business Ethics

1615 words - 7 pages Literature Review of Strategic Business Analysis Tools: Research Ethics: PEST, BCG and Porter’s Five-Force Model Abstract This literature review takes the work of twelve different scholarly peered-reviewed resources and explains the outcome of their studies. All of the studies were conducted with different strategic analysis tools and how the use of ethics plays a role in each model. Although there are many strategic tools for managers to

Review Of The Literature

2004 words - 9 pages Caring for Inmate-Patients: A Review of the Literature Caring for Inmate-Patients In 2010, approximately one in every 27 adults (2.8 million) in the United States was behind bars according to a report from the National Commission on Correctional Health Care (NCCHC), 2012. Maintaining a safe and secure environment is the most important mission of correctional facilities - not healthcare.  Correctional nurses are challenged to provide inmate

Related Essays

Literature Review 852 Words

852 words - 4 pages LITERATURE REVIEW PROCESS The literature review should • Take the form of a critical discussion, showing insight and an awareness of differing arguments, theories and approaches. • Synthesise and analyse the relevant published work, linked at all times to your own purpose and rationale. The literature review is NOT a simple set if summaries describing what others have published. AIMS: The aim of a literature review is to demonstrate

Literature Review 1100 Words

1100 words - 5 pages Literature Review –additional information What is a literature review? A literature review discusses published information in a particular subject area, and sometimes information in a particular subject area within a certain time period. A literature review can be just a simple summary of the sources, but it usually has an organizational pattern and combines both summary and synthesis. A summary is a recap of the important information of

Literature Review 520 Words

520 words - 3 pages literature review we will explore these differing theories of the use of academic citations, to give a clearer idea of why they are used. A widely-held theory in academic writing manuals, for the use of academic citations, is that citations are used to recognize and acknowledge the intellectual property rights of authors, to avoid plagiarism. This is a widely-known reason for the use of academic citations, as avoiding plagiarism is especially emphasised

Literature Review 1242 Words

1242 words - 5 pages Health Promotion 1 Literature Review Bressy Thomas Grand Canyon University Health Promotion