Brand loyalty can be defined as the relative possibility of a customer shifting to another brand in case there is a change in product’s features, price or quality.
Brand loyal consumers are the foundation for growth of an organization. Greater loyalty levels lead to less marketing expenditure because the brand loyal customers are reluctant to switch brands and are willing to pay a higher price for it.
A brand loyalty study involves measuring factors like word of mouth publicity, repetitive buying, price sensitivity, commitment, brand trust, customer satisfaction etc. Post this, customers are classified into different categories like hard-core loyal, soft-core loyal and switchers depending on their perceived value, brand trust, satisfaction, repeat purchase behaviorand commitment.
Methods for brand loyalty
• Focus group discussions
• Depth interviews
• Conflict groups
• Day in the life of a consumer
Call us: +91 22 22913710