Importance Of Brand Loyalty

With the market gradually enriched, competitive brands are steadily increasing, consumers can choose from different brand. Many companies use brand to create and cultivate their own competitive advantage. This has become one of the main strategies used by companies in the international marketing competition. Brand loyalty is when consumers make purchasing decisions, they too many times to express the preference for a brand. It decides the value and influence of the brand, and affects the establishment of market position. It is very important for each company. Therefore it is necessary to research the brand loyalty. This essay will research the value of brand loyalty, methods of improving and keeping brand loyalty, and factors that influence

In general, a brand has a lot of customers, it is worth a lot. Brand loyalty is important for a number of reasons. Firstly brand loyalty can reduce marketing costs. One company’s performance, most comes from old customers. To keep old customers a company will spend less money than attract new customers. So a customer who has brand loyalty reduces marketing costs. Secondly, brand loyalty is easy to attract new customers. High brand loyalty means every user can become a live advertisement. This helps other consumers to build confidence for shopping. It naturally attracts new customers. Thirdly, brand loyalty can increase sales channels. Franchisers need to sell products to make a profit, They often choose companies which have a high degree of brand loyalty to cooperation. Therefore high brand loyalty in the expansion of sale’s channels more smoothly, and easier access to more favorable terms of trade. Fourthly, brand loyalty will reduce competitive pressure. Recently, market competition is becoming brand competition. When faced with the same competition, the brand that has high brand loyalty, their consumer change the brand’s speed is slow, so the companies have more time to develop new products, and improve communication strategies to deal with the competition of other

The trust between people is mainly determined by three factors: reputation, predictability and competitiveness (Fournier, er al, 2012). In orders maintain brand loyalty is very important for a company. First, company should reduce the customer’s unsatisfied issues. Companies can through effective communication with consumers to maintain brand loyalty. Listen to the questions raised by the customer, and help them solve the problems. Improve customer satisfaction. Second, companies should strict requirements for product quality and make reasonable price. Any company maybe due to a lot of reasons for the problem of product quality, even though famous brand products are inevitable. If the customer is reduce the brand loyalty for brand. Once the product has quality problems. Customers will be very sensitive, and it is possible never do not buy this product. Most consumers will pay more attention to the price. So the company should be careful in setting the prices. Third, companies need to remain attractive for consumers. In brand marketing, communicate to the consumer is an enterprise 's image, some well-known brands often attend to a lot of famous exhibitions every year, in order to promote their brand and maintain the customer 's confidence. For example, Disney Company is a very successful case. It success is the accurate grasp of consumer demand. They usually use questionnaires, interviews and observation these methods to