Chapter 1
Brands are significant assets for companies and are the center for profits and competitive advantage. A company’s brand success is a result of being able to maintain the added values by coming up with long term relationship based on experience and knowledge so that the consumer may integrate and interrelate with the company and the brand. For the past decades, there has been increasing concern in relational phenomena among practitioners and marketing scholars. Companies are changing the focus of their efforts of marketing from promoting instant exchange transactions and making sales to creating long-term relations with consumers. According to Kahrem (2009) this long term relations build long lasting success for company brands and the company itself. For lengthy lasting greater returns and benefits, companies constantly try to gratify their consumers for the purpose of retaining them and their repurchase intents. Upcoming repurchase intents of consumers are outcomes of several organizational efforts. Relation quality comprises of commitment, satisfaction and trust in terms of the consumers (Keller, 2001). Brand rapport quality play vital role in the relationship amid brand and consumer. Brand relationship quality may be described as the extent to which the consumer sees the brand as suitable partner in a constant relationship; it is the customer’s general evaluation of the strength of her or his relation with the brand. (Algesheimer et al, 2005).
Brand loyalty is a customer’s unconscious or conscious choice that is expressed through the behavior or purpose to repurchase a certain brand repeatedly. Brand loyalty is the eventual goal of marketing. Brand loyalty in marketing comprises of a customer’s obligation to repurchase the brand through frequent purchasing of a product or other affirmative behaviors e.g. by word of mouth. Aaker (1991) points out that the repurchase choice depends on quality and trust performance of the service or product. Loyal consumers will constantly buy products from their chosen brands, in spite of price or convenience. Companies will regularly employ different marketing approaches to cultivate loyal consumers, be by use of loyalty programs such as rewards programs.
The role of trust in maintaining and building brand loyalty has been studied widely in both business-to-businesses and consumer purchasing situations. Trust plays a vital role in augmenting both attitudinal and behavioral loyalty which in turn manipulates marketing result related factors such as price elasticity and market share maintenance. In the fields of e-loyalty a number of structural models and its relations to recur visits to e-commerce sites have been offered. Privacy has come out as an important and unique dimension of e-loyalty.
Creating and maintaining brand loyalty is considered an essential theme of marketing practice and theory in creating sustainable competitive benefit (Stiff, 2006). In traditional customer marketing, the benefits enjoyed by a brand with higher customer loyalty comprise reduced selling expenses, ability to uphold premium pricing, synergistic benefits of brand expansion to related service or product categories and a strong barricade to prospective new entries into the service or product category.
Product interactivity and customization are two exclusive value plans that put in to e-loyalty in online buyer conduct. Majority of web shoppers choose websites that present customized information and products. This evidently shows the significance of mass customization in building e-loyalty. Customization is the outcome of the interactive participation of the consumer in the design of her or his perfect product. A company such as Dell (computer manufacturer) has effectively applied the move toward “build your personal computer” by the utilization of “Choiceboards”. The lofty participation in the product design on the part of the customer essentially builds a stronger affective bond with the brand that afterward results to brand loyalty.
In e-business the importance of brand building has improved with the rising number of competitive options that have emerged in a short period. The internet provides exclusive tools of interactive brand creation that have earlier not been existing all the way through traditional mass media oriented strategies in brand building (Valdés, 2002). In brand building, domain names are important as brand name extensions. Consumers choose popular and simple to recall website names. The website contents also bring out a major role in enhancing the general brand image. Trust, mainly the unique magnitude of transactional privacy and security, play a vital role in creating consumer loyalty to an e-business. A number of unique techniques and tools are offered to e-businesses to improve consumer trust in their website (Moon and Millison, 2000). These techniques include; third party authentication, on-repudiation, encryption and approvals strategies.
According to Keller (2006), branding has in general been acknowledged as the means to success in these days business, particularly in quickly developing fields. It gives worth to the consumer during the purchasing process and thus reassures worth to the business by stimulating loyalty and attracting consumers. Although versatile and complex, the branding code has imposed itself as the latest business pattern, and is employed nearly across all categories and markets. Recent literature highlights the relational features of branding, stressing on dependability and trust among companies and consumers. There is a significant feature that should be considered amid identity and image, two features associated with the process of branding. The earlier one is external to the business, being an indication of its plans; the latter is internal and totally rooted in the business, and underpins the entire planning (Passikoff, 2006). Brand image stand for a set of relations established in the minds of consumers, entailing a promise to the customers and standing for what the brand presently stands for. Image signifies what customers think of you, whilst identity signifies what your brand stands for and who your brand is.
Chapter 2
A study on social media customer care had several fascinating finds on how search features into brand loyalty. Even as 59.1% of study participants make use of social media to vent on consumer familiarity, 90% said search was helpful in finding information regarding consumer care. Customer care is an essential determinant in the loyalty of a brand.
Advertisers use up billions of dollars annually globally persuading, manipulating and encouraging people into a customer way of life that has overwhelming penalty for the environment through its wastefulness and extravagance. Advertising makes use of individual insecurities, builds false wants and offers bogus solutions. It fosters discontent that results to expenditure. Young people or children are mainly susceptible to this kind of manipulation. The major factor influencing brand trust to young consumers is the internet. Young consumers are increasingly the aim of marketing and advertising because of the sum of money young consumers spend by themselves (Lockwood, 2010). They have great influence on their parents spending on them. Whilst the young consumer-targeted marketing used to focus on toys and sweets, it now comprises shoes, sports equipment, clothes and a variety of fast foods as well as grown-up products such as credit cards and cars.
It is approximated that about 4 million young consumers are using the internet globally and the number is bound to rise radically over the next years. The internet is an intermediate way for advertisers that are exceptional; there is possibly no other service or product that we can suppose of that is like it in terms of obtaining kids' interest (Moon and Millison, 2000).
After the early elation of the potential and promises of B2C (Business to Consumer) e-commerce and the consequent sobering certainty of recent disappointments, online marketing and buying is likely to grow. E-loyalty will go on to be a vital success aspect in e-commerce. Creating and maintaining e-loyalty is going to be challenge in this fickle and competitive world of online shopping. Getting to know the dynamics and drivers of how a consumer loyalty is built and sustained in cyberspace with the assistance of an integrated hypothetical framework is significant to creating future marketing plans.
Summary
In this research paper, the purpose of this study is to look at how a company needs to be devoted to its brand loyalty to attract more customers. In chapter one, the article tackles on the importance of brand loyalty and what companies need to observe to maintain its brand loyalty in future. Chapter two of the study reflects on the young consumers and how brand loyalty can be achieved through the internet (social media).
Bibliography
ALGESHEIMER, R., DHOLAKIA, U. M., & HERRMANN, A. (2005). The Social Influence of Brand Community: Evidence from European Car Clubs. Journal of Marketing. 69, 19.
KAHREN, F. (2009). Brand loyalty. [Florida], Whimisical Publications.
MOON, M., & MILLISON, D. (2000). Firebrands building brand loyalty in the Internet age. Berkeley, Calif, Osborne/McGraw-Hill.
AAKER, D. A. (1991). Managing brand equity: capitalizing on the value of a brand name. New York, Free Press.
HALLBERG, G. (1995). All consumers are not created equal: the differential marketing strategy for brand loyalty and profits. New York, John Wiley & Sons.
STIFF, D. (2006). Sell the brand first: how to sell your brand and create lasting customer loyalty. New York, McGraw-Hill.
PASSIKOFF, R. (2006). Predicting market success: new ways to measure customer loyalty and engage consumers with your brand. Hoboken, N.J., John Wiley & Sons.
LOCKWOOD, T. (2010). Design thinking: integrating innovation, customer experience and brand value. New York, NY, Allworth Press.
KELLER, K. L. (2001). Building customer-based brand equity: a blueprint for creating strong brands. Cambridge, Mass, Marketing Science Institute.
VALDÉS PRIETO, S. (2002). Pricing and marketing rules with brand loyalty. Santiago, Pontificia Universidad Católica de Chile, Instituto de Economía.
Brands are significant assets for companies and are the center for profits and competitive advantage. A company’s brand success is a result of being able to maintain the added values by coming up with long term relationship based on experience and knowledge so that the consumer may integrate and interrelate with the company and the brand. For the past decades, there has been increasing concern in relational phenomena among practitioners and marketing scholars. Companies are changing the focus of their efforts of marketing from promoting instant exchange transactions and making sales to creating long-term relations with consumers. According to Kahrem (2009) this long term relations build long lasting success for company brands and the company itself. For lengthy lasting greater returns and benefits, companies constantly try to gratify their consumers for the purpose of retaining them and their repurchase intents. Upcoming repurchase intents of consumers are outcomes of several organizational efforts. Relation quality comprises of commitment, satisfaction and trust in terms of the consumers (Keller, 2001). Brand rapport quality play vital role in the relationship amid brand and consumer. Brand relationship quality may be described as the extent to which the consumer sees the brand as suitable partner in a constant relationship; it is the customer’s general evaluation of the strength of her or his relation with the brand. (Algesheimer et al, 2005).
Brand loyalty is a customer’s unconscious or conscious choice that is expressed through the behavior or purpose to repurchase a certain brand repeatedly. Brand loyalty is the eventual goal of marketing. Brand loyalty in marketing comprises of a customer’s obligation to repurchase the brand through frequent purchasing of a product or other affirmative behaviors e.g. by word of mouth. Aaker (1991) points out that the repurchase choice depends on quality and trust performance of the service or product. Loyal consumers will constantly buy products from their chosen brands, in spite of price or convenience. Companies will regularly employ different marketing approaches to cultivate loyal consumers, be by use of loyalty programs such as rewards programs.
The role of trust in maintaining and building brand loyalty has been studied widely in both business-to-businesses and consumer purchasing situations. Trust plays a vital role in augmenting both attitudinal and behavioral loyalty which in turn manipulates marketing result related factors such as price elasticity and market share maintenance. In the fields of e-loyalty a number of structural models and its relations to recur visits to e-commerce sites have been offered. Privacy has come out as an important and unique dimension of e-loyalty.
Creating and maintaining brand loyalty is considered an essential theme of marketing practice and theory in creating sustainable competitive benefit (Stiff, 2006). In traditional customer marketing, the benefits enjoyed by a brand with higher customer loyalty comprise reduced selling expenses, ability to uphold premium pricing, synergistic benefits of brand expansion to related service or product categories and a strong barricade to prospective new entries into the service or product category.
Product interactivity and customization are two exclusive value plans that put in to e-loyalty in online buyer conduct. Majority of web shoppers choose websites that present customized information and products. This evidently shows the significance of mass customization in building e-loyalty. Customization is the outcome of the interactive participation of the consumer in the design of her or his perfect product. A company such as Dell (computer manufacturer) has effectively applied the move toward “build your personal computer” by the utilization of “Choiceboards”. The lofty participation in the product design on the part of the customer essentially builds a stronger affective bond with the brand that afterward results to brand loyalty.
In e-business the importance of brand building has improved with the rising number of competitive options that have emerged in a short period. The internet provides exclusive tools of interactive brand creation that have earlier not been existing all the way through traditional mass media oriented strategies in brand building (Valdés, 2002). In brand building, domain names are important as brand name extensions. Consumers choose popular and simple to recall website names. The website contents also bring out a major role in enhancing the general brand image. Trust, mainly the unique magnitude of transactional privacy and security, play a vital role in creating consumer loyalty to an e-business. A number of unique techniques and tools are offered to e-businesses to improve consumer trust in their website (Moon and Millison, 2000). These techniques include; third party authentication, on-repudiation, encryption and approvals strategies.
According to Keller (2006), branding has in general been acknowledged as the means to success in these days business, particularly in quickly developing fields. It gives worth to the consumer during the purchasing process and thus reassures worth to the business by stimulating loyalty and attracting consumers. Although versatile and complex, the branding code has imposed itself as the latest business pattern, and is employed nearly across all categories and markets. Recent literature highlights the relational features of branding, stressing on dependability and trust among companies and consumers. There is a significant feature that should be considered amid identity and image, two features associated with the process of branding. The earlier one is external to the business, being an indication of its plans; the latter is internal and totally rooted in the business, and underpins the entire planning (Passikoff, 2006). Brand image stand for a set of relations established in the minds of consumers, entailing a promise to the customers and standing for what the brand presently stands for. Image signifies what customers think of you, whilst identity signifies what your brand stands for and who your brand is.
Chapter 2
A study on social media customer care had several fascinating finds on how search features into brand loyalty. Even as 59.1% of study participants make use of social media to vent on consumer familiarity, 90% said search was helpful in finding information regarding consumer care. Customer care is an essential determinant in the loyalty of a brand.
Advertisers use up billions of dollars annually globally persuading, manipulating and encouraging people into a customer way of life that has overwhelming penalty for the environment through its wastefulness and extravagance. Advertising makes use of individual insecurities, builds false wants and offers bogus solutions. It fosters discontent that results to expenditure. Young people or children are mainly susceptible to this kind of manipulation. The major factor influencing brand trust to young consumers is the internet. Young consumers are increasingly the aim of marketing and advertising because of the sum of money young consumers spend by themselves (Lockwood, 2010). They have great influence on their parents spending on them. Whilst the young consumer-targeted marketing used to focus on toys and sweets, it now comprises shoes, sports equipment, clothes and a variety of fast foods as well as grown-up products such as credit cards and cars.
It is approximated that about 4 million young consumers are using the internet globally and the number is bound to rise radically over the next years. The internet is an intermediate way for advertisers that are exceptional; there is possibly no other service or product that we can suppose of that is like it in terms of obtaining kids' interest (Moon and Millison, 2000).
After the early elation of the potential and promises of B2C (Business to Consumer) e-commerce and the consequent sobering certainty of recent disappointments, online marketing and buying is likely to grow. E-loyalty will go on to be a vital success aspect in e-commerce. Creating and maintaining e-loyalty is going to be challenge in this fickle and competitive world of online shopping. Getting to know the dynamics and drivers of how a consumer loyalty is built and sustained in cyberspace with the assistance of an integrated hypothetical framework is significant to creating future marketing plans.
Summary
In this research paper, the purpose of this study is to look at how a company needs to be devoted to its brand loyalty to attract more customers. In chapter one, the article tackles on the importance of brand loyalty and what companies need to observe to maintain its brand loyalty in future. Chapter two of the study reflects on the young consumers and how brand loyalty can be achieved through the internet (social media).
Bibliography
ALGESHEIMER, R., DHOLAKIA, U. M., & HERRMANN, A. (2005). The Social Influence of Brand Community: Evidence from European Car Clubs. Journal of Marketing. 69, 19.
KAHREN, F. (2009). Brand loyalty. [Florida], Whimisical Publications.
MOON, M., & MILLISON, D. (2000). Firebrands building brand loyalty in the Internet age. Berkeley, Calif, Osborne/McGraw-Hill.
AAKER, D. A. (1991). Managing brand equity: capitalizing on the value of a brand name. New York, Free Press.
HALLBERG, G. (1995). All consumers are not created equal: the differential marketing strategy for brand loyalty and profits. New York, John Wiley & Sons.
STIFF, D. (2006). Sell the brand first: how to sell your brand and create lasting customer loyalty. New York, McGraw-Hill.
PASSIKOFF, R. (2006). Predicting market success: new ways to measure customer loyalty and engage consumers with your brand. Hoboken, N.J., John Wiley & Sons.
LOCKWOOD, T. (2010). Design thinking: integrating innovation, customer experience and brand value. New York, NY, Allworth Press.
KELLER, K. L. (2001). Building customer-based brand equity: a blueprint for creating strong brands. Cambridge, Mass, Marketing Science Institute.
VALDÉS PRIETO, S. (2002). Pricing and marketing rules with brand loyalty. Santiago, Pontificia Universidad Católica de Chile, Instituto de Economía.
Posted in
0 comments :
Post a Comment