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| Brand management |
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In marketing and consumer behaviour, brand loyalty describes a consumer's persistent positive feelings towards a familiar brand and their dedication to purchasing the brand's products and/or services repeatedly regardless of deficiencies, a competitor's actions, or changes in the market environment. It can also be demonstrated with other behaviors such as positive word-of-mouth advocacy.[1] Corporate brand loyalty is where an individual buys products from the same manufacturer repeatedly and without wavering, rather than from other suppliers.[2] In a business-to-business context, the term "source loyalty" may also be used.[3] Loyalty implies dedication and should not be confused with habit, its less-than-emotional engagement and commitment. Businesses whose financial and ethical values (for example, ESG responsibilities) rest in large part on their brand loyalty are said[by whom?] to use the loyalty business model.
- ^ Hur, Won‐Moo; Ahn, Kwang‐Ho; Kim, Minsung (2011-08-02). "Building brand loyalty through managing brand community commitment". Management Decision. 49 (7): 1194–1213. doi:10.1108/00251741111151217. ISSN 0025-1747.
- ^ American Marketing Association Dictionary Archived 2012-06-11 at the Wayback Machine. Retrieved 2011-07-09. The Marketing Accountability Standards Board (MASB) endorses this definition as part of its ongoing Common Language: Marketing Activities and Metrics Project Archived 2013-02-12 at the Wayback Machine.
- ^ Wind, Y., Industrial Source Loyalty, Journal of Marketing Research, Volume 7, No. 4 (November 1970), pp. 450-457