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Brand Loyalty

olegoleg subscriber Posts: 13 Bronze Level Member
How important is brand loyalty to you?
As a business owner, what do you do to promote loyalty among your customers?  Do you believe it`s more important to find new clients, or to keep repeat business from existing ones?
As a consumer, how much does brand loyalty drive your buying decisions?  Are you willing to pay extra/drive further/wait longer just to do business with a company you trust?
Personally, I think it`s extremely important - at least from my point of view as a consumer.  If I have a positive experience with a certain company, I am very likely to consider them as my first option in the future.  Often I will pass up a better deal or a more convenient option just because of brand preference. 
For example, I owned a Sharp television set that worked like a charm for over a decade.  When it was time for a new one I only gave a very cursory consideration to all other brands; and ended up buying another Sharp mainly because of the label.  My last 3 cars were all Toyotas, most likely the next one will be a Toyota as well.  90% of the clothes I own are produced by the same handful of brands.  If I need to make a purchase online, I will first first look on Amazon.com - and only look at other websites if Amazon doesn`t have what I`m looking for.
On the other hand, a negative experience will usually make me avoid the company by any means - I am rarely swayed by the promises of improvement.  But if I have a negative experience with a company that I already consider a "quality brand," I am much more forgiving towards them than a company that I`m dealing with for the first time.

Comments

  • AlexiusAlexius subscriber Posts: 1
    I think brand loyalty is more than just repeat purchase and word of mouth marketing. True brand loyalty is consumers take responsibility for the company`s continued success. I am a fan of ipod and besides owning 2 of them, telling my friends about the product and more importantly, I got to talk about the crazy ideas in the apple discussion. The apple people might use my ideas for ipod brand extension. Who knows?
  • patentandtrademarkpatentandtrademark subscriber Posts: 103
    it also works in reverse.  you could not GIVE me a product made by Panasonic.  Brands are about consumer expectation and I expect bad things from Panasonic based on my encounters with that brand.
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