Definition: Brand Loyalty is the situation when a consumer is reluctant to switch from buying and consuming the product from the brand he knows and trusts. It is part of a firm's Relational Capital.
It consists of a consumer's commitment or preference to repurchase the brand and can be demonstrated by repeated buying of the product or service or other positive behaviors such as word of mouth advocacy. It is more than simple repurchasing behavior, since customers may repurchase a brand also due to:
- Situational constraints.
- A lack of viable alternatives.
- Out of convenience.
© 2019 MBA Brief - Last updated: 15-10-2019 - Privacy | Terms