Brand Loyalty in the Continuously Thesis

  • Length: 8 pages
  • Sources: 7
  • Subject: Business - Advertising
  • Type: Thesis
  • Paper: #41027650

Excerpt from Thesis :

An informed choice is a way of strengthening the customer loyalty. At the same time, the client will also feel privileged, as the marketing and advertising campaigns are usually centered on the client. Such an approach will make him feel privileged and central to the policies of the company.

This is why issues like a large marketing budget will likely 'make' and consolidate customer loyalty. Such a budget will allow the company to center its marketing policies around the client and thus have a positive impact on brand and customer loyalty.

Fashion also greatly influences customer loyalty, either from the make or break perspective. A customer's loyalty could be shifting if the product or brand he usually buys is out of trend. At the same time, the reverse statement is also true: creating fashion and introducing new edgy trends could increase customer loyalty for a product or brand.

Apple was able to maintain and even increase the loyalty of its usual customers because of inventions such as the iPod and the iPhone. This type of inventions were not only in line with the Apple spirit (another important issue in customer loyalty which has been touched upon throughout the paper, notably in the example with Harley Davidson), but also in line with the new characteristics of this generation's fashion: easy communication and the constant need for communication, integration of multiple gadgets (as well as a certain fetish for new gadgets in general), the social peer pressure, which means that you have to keep up with trends etc.

Another thing that potentially influences customer loyalty in a positive manner is the product's or company's elitism. Some of the products are designed for a certain category of consumers and they will remain loyal to that brand as long as it continues to confer the elite requirements that have made the customer originally purchase that product. Bang and Olufsen audio sets are a good example in this sense. The company promotes both a technological and design elitism that keeps customers very loyal to this brand. At the same time, it is also a combination of some of the aspects previously discussed, such as differentiation and customization.

The instruments and elements that often break customer loyalty are sometimes exactly the reverse of what has been recommended here and some of these aspects have also been described and analyzed as well. However, there is something more to be said as well. All these recommendations and elements to increase customer loyalty have been described solitarily, only from the organization's perspective and from its relationship with its portfolio of clients. There is probably another aspect to be witnessed, that of the market. It is very important to have forecasts of how the market is likely to develop and how those developments are likely to impact the preferences of the existing customers. Being able to properly forecast means that the organization will also be able to properly adapt to these future developments.

The business world in the 21st century is very much different from the business world 50 years ago and it is much more inclined to be less fixed in its options and decisions. In the middle of the 20th century, it was much easier to expect an individual to remain a loyal customer: he had much fewer options, traditions and customs encouraged brand loyalty and there was much less information on the market to allow him to change his options. All these have radically changed today, which means that there is a much more inclination for change. For this, any company has to be prepared to commit an extra effort in order to retain customers.

Bibliography

1. Meakins, Clive. January 2003. Building Brand Loyalty by Improving the Customer Experience. On the Internet at http://www.oracle.com/industries/automotive/C14253_AutomotiveCustomerExperienceBrochure.pdf.Lastretrieved on February 25, 2009

2. Millison, Doug. 2000. Firebrands: Building Brand Loyalty in the Internet Age..McGraw-Hill Osborne Media

3. Building Brand Loyalty with Personal Care Products. On the Internet at http://www.powerhomebiz.com/guide/cases/shirley.htm.Lastretrieved on February 25, 2009

4. Kotler, P. 2003. Marketing Insights from A to Z: 80 Concepts Every Manager Needs to Know.Wiley, 1 edition.

5. Montoya, Peter. 2003. Building Brand Loyalty. CPA Journal. On the Internet at http://www.nysscpa.org/cpajournal/2003/0803/nv/nv4.htm.Lastretrieved on February 25, 2009

6. Sinha, Jaya. Building Brand loyalty amongst your customers. On the Internet at http://itvoir.com/portal/boxx/knowledgebase.asp?iid=1027&Cat=23.Lastretrieved on February 25, 2009

Meakins, Clive. January 2003. Building Brand Loyalty by Improving the Customer Experience. On the Internet at http://www.oracle.com/industries/automotive/C14253_AutomotiveCustomerExperienceBrochure.pdf.Lastretrieved on February 25, 2009

Millison, Doug. 2000. Firebrands: Building Brand Loyalty in the Internet Age..McGraw-Hill Osborne Media

Building Brand Loyalty with Personal Care Products. On the Internet at http://www.powerhomebiz.com/guide/cases/shirley.htm.Lastretrieved on February 25, 2009

Kotler, P. 2003. Marketing Insights from A to Z: 80 Concepts Every Manager Needs to Know.Wiley, 1 edition.

Montoya, Peter. 2003. Building Brand Loyalty. CPA Journal. On the Internet at http://www.nysscpa.org/cpajournal/2003/0803/nv/nv4.htm.Lastretrieved on February 25, 2009

Sinha, Jaya. Building Brand loyalty amongst your customers. On the Internet at http://itvoir.com/portal/boxx/knowledgebase.asp?iid=1027&Cat=23.Lastretrieved on February 25, 2009

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