Brand Loyalty
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Why is Brand Loyalty important:

bulletcreate emotional bonds
bulletmake strong connections
bulletcommand higher prices
bulletgenerate bigger profits

Strong brands have advantages...

bulletGreater customer loyalty
bulletLess vulnerable to competitive actions
bulletLess vulnerable to marketing crises
bulletMore inelastic response to price increases
bulletMore elastic response to price decreases
bulletGreater channel cooperation and support
bulletIncreased marketing communication effectiveness
bulletPlatform for line extension/new product entries

 

Strong brand loyalty is important to retailers...

bulletRising customer expectations/ sophistication
bulletIncreasing power of intermediaries
bulletIndustry consolidation increases competition
bulletIncreasingly difficult to differentiate technically
bulletCustomers are rethinking value of products/practices
bulletGrowth of generic activity
bulletNeed for improved profitability

Brands are winners with Consumers...

*Source: Advertising Age

Brands command higher prices...

*Source: McKinsey Quarterly

Brands yield higher ROI...

*Source: McKinsey Quarterly

The bottom line to brand loyalty is the bottom line impact it has to company's profitability.

 

Brand Development  Brand Loyalty  Brand Management    Brand Marketing  Brand Marketing Strategy  Brand Positioning    Building a Brand   Brand Strategy    Global Brand Management

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Last modified: November 21, 2007