Moore et al (2003) also described that positive perception of consumers about a particular brand is an indicator of status, quality and prestige; i.e. factors other than price. Brand Loyalty Schiffman and Kanuk (2004) have stated brand loyalty as one of the desired outputs of learning of the consumers. It is the probability of positive behaviours and attitude towards a brand, thus it could result in positive word of mouth and repeat purchase (Rawly and Dawes, 1999). Quester and Lim (2003) also explained the two major types of brand loyalty.
Premium Pricing: A premium quality product or a service can be used to set its value artificially high in an attempt to encourage a favorable audience perception, something that will be the USP (Unique Selling Proposition) of our setup. Later, if the services or products begin to establish a reputation for quality, this is a great pricing strategy to implement. 13. Price Leadership: A point at which the practice or business becomes self-sufficient to be able to dictate prices within the marketplace. As such, it is an ideal goal to aim for and will work best for businesses operating in industries where competition is scarce.
Thereafter, retailers can directly pass on the price benefits to the consumer and as there is no need for advertising these products the prices become more and more competitive. Moreover, despite the fact that the prices are lower, the margins are higher, as the middlemen are eliminated and since the margin of private labels goes to the retailer directly it is common price promotion to be applied(4). Another major advantage is the development of exclusivity and the creation of an easily recognized trade mark by the consumers. This fact enhances sales opportunities and helps in developing customer recognition and loyalty so as retailers can have significant advantages over its competitors. As far as the disadvantages are concerned, this profitable strategy of the retailers to introduce private labels so as to increase profit puts them into direct competition against the national brands(2).
Avoid these easy mistakes when buying promotional products Do you know that promotional products can be a highly effective addition to your existing marketing strategy? And do you know that when used correctly, promotional products can increase awareness for your brand, create new business for you, open up a whole new world of business ventures for you? The benefits of using promotional products are many. First is the fact that it is relatively inexpensive to use, and won’t take as large a portion of your marketing costs as advertising might. It is also a great alternative to business cards, doing the same job as business cards but also providing your customers some additional functionality and information.
This was a conclusion from their study to know the role of individual characteristics on customer loyalty. The results show that some individual factors have positive and significant relationships with the customer loyalty; these factors are masculinity level, agreeableness, self-esteem, emotional stability, internal locus of control and openness to experience. Durukan & Bozaci, (2011) inferred from the research results that giving importance to customer loyalty creating and maintaining activities in societies and cultures, which has high level of masculinity, agreeableness, self-esteem, emotional stability, internal locus of control and openness to experience, would be a more profitable and effective approach for businesses. Loyalty is not determined exclusively by the intrinsic characteristics of service offered; it can also depend on external traditional activities, such as advertising and public relations, well known to those in charge of marketing (Nguyen et al 2013). Nguyen et al (2013) added that “to build customer loyalty and sustain it, relationship marketing can play a key role to influence positively customers’ perceptions of the organization and to enhance customer trust.” Customer loyalty is of prime importance for business
BRAND MANAGEMENT Brand is an intangible asset of the company. It is defined as a logo or a trademark usually, but it is more than that. Brand strategy involves managing these brands and their value is described by its equity. Brand management approaches are: • Brand positioning • Brand leveraging BRAND IDENTITY Brand identity is the first component of brand management and it means how the company wants their brands to be perceived. This is the identity of the brand and what the brand stands for.
A series of statistical techniques i.e. frequency distribution, regression and correlation will conducted to test the hypotheses. The findings will show that customers are more satisfied and loyal with their using brand in developing countries rather than in developed countries .it will also explained that brand image and perceived product quality are much matter or not in developing countries. The analyses will also shows that customer satisfaction, brand image and brand experience are determined by brand loyalty in Q MOBILE and SAMSUNG brand. This research study will show a relationship between brand loyalty and student satisfaction.
Thus, people have impression of high-quality and high-price products. Although Apple products are expensive people buy Apple products to represent themselves as wealthy people. Apple has been building their smart and sophisticated image for a long time via advertisement and marketing. Also, Apple stores interior are clean white and well organized. This also contributed to Apple’s image.
All this will influence the Brand Loyalty and had a positive significant relation between Brand Loyalty and its attributes. CERA is an environmentally safe and responsible brand, sustainable brand and brand with a good reputation, more beneficial to society’s welfare than other brands and doesn’t contribute something to society all this will influences the Sustainability and had a positive significant relation between Sustainability and its attributes. CERA products are well made, reasonable priced, brand that makes you to enjoy, feel good, offers value for money and provides products that are consistent in quality and meeting the industry standards. All this will influence the Perceived Value and had a positive significant relation between Perceived Value and its attributes. CERA are extremely high in quality, high in functionality, high in durability and high in performance.
It has been confirmed through research that help quality brands achieve a higher market share and higher profitability when compared to their inferior competitors. 1.12 .2 Positioning The position that a brand occupies in the minds of consumers in a market is called positioning. Strong brands often have a clear and a unique position in the target market. Brand name, service, image, standards, product guarantees, packaging and the way in which it is delivered to the customer are some of the means by which positioning can be achieved. Successful positioning, in fact, usually requires a combination of all these things.