According to Mcconnel (1968) point of view for the whole understanding about brand loyalty, then enough work required. This research aims to define the important factors which not related to time and also show the different advantage which customer gain from re buy of that brand. Advertising also affect and enhance the brand loyalty because through advertisement company motivate the customer that brand offer by company give value and quality according to its price. Brand equity always understands with the quality and uniqueness which is related to customer memory (Dillon et al 2001). Attraction of customer is base on company’s offered product which attracts the customers according to their needs and wants.
3.2 CUSTOMER LOYALTY AND THEORIES It is more economical for a company to keep customers loyal than if the company have to replace them (Marken, 2001). Loyalty as a concept has its roots from the consumer behavior theory and is something that consumers may exhibit to brands, services, or activities (Agyei & Kilika, 2014). Customer loyalty, which is defined as preferring a specified company in repurchases, plays a critical role to be successful in today’s competitive business environment (Durukan & Bozaci, 2011). Nasir et al (2014) stated that the ability to attract the right target market, making them buy/consume the product on a regular basis and in high quantities and advocating for the product enabling more customers to shift from the substitute
All this will then in turn contribute to the retention and loyalty of customers. Factors that Influence Customer Loyalty Excellent customer service and complete satisfaction with the product or service are major factors that are relied on and influence customer loyalty. (Leland & Bailey, 2006, p. 9) stated, “Customers want a competitive price, good value, convenience and customer service and they want it yesterday” This suggests that customer loyalty relies upon customer service and matching what the customer wants and what they get in terms of satisfaction. There are many factors that can influence this such as, • Handling of customer complaints and compliments • Addressing
The companies maintain this in order to keep the customers for the life time. At the end, satisfaction leads to customer returns and buying more and more. Loyal customers are always willing to pay the premium price, because they become brand loyal, and it becomes difficult for them to change the product immediately. The basic purpose of customer research is to increase the customer satisfaction and customer loyalty. If customer is not satisfied, then they can complain to the company but it mostly happens in B2B businesses.
The ultimate goal for every business is to turn every new customer into a returning loyal customer. Relationship marketing is about forming long term relationships with customers rather than trying to persuade a one-time sale. Relationship marketing tries to encourage customer loyalty by providing excellent products
When it comes to the antecedents of customer relationships, it is plausible to state the aforementioned building blocks are factors that positively influence on customer relationship development. Take procedural fairness as an example. Procedural fairness is strongly influenced by factors under the relationship members’ control (Peppers and Rogers 2010, 51), for instance, notifying a subscriber if she paid a wrong subscription package rather than letting her to continue pay a higher price than necessary. As a result, this customer will be satisfied with the service provider and increase the possibility of repurchasing. Needless to say, other building blocks like trust and commitment are obviously enhancing customer relationships.
Customer loyalty is a central goal of relationship marketing, supported by numerous claims of how organisations can benefit from having loyal customers. Customer loyalty has been connected to customer profitability due to reasons such as lower marketing costs, possibilities for cross-selling, and premium pricing. Loyal customers are also more likely to become advocates of the organisation, spreading positive word-of-mouth (Reichheld and Sasser 1990, Narayandas 1998). Customer loyalty is not only a goal of relationship marketing; it is also conceptually closely related to the concept of relationships. Like customer loyalty, relationships have been conceptualised as having a behavioural and an attitudinal dimension.
If the experience is better or greater than the expectations then the customer will keep in mind the service for a long time, but Feelings of dissonance may occur if the experience is worse or less than the expectation. On the other hand if the customer gets more than his or her expectation then he or she will be delighted. It will directly affect the purchase decision of the consumers and delighted consumers will love to buy from those companies where they are delighted and share their better experience with others. Thus consumer retention is dependent on this
By definition, relationship marketing is an approach that is used to sustain loyalty among a company’s customers. Relationship marketing has a host of advantages. First, relationship marketing helps a company yield massive returns on its investment (Wiersema 1983). Maintaining previous customers helps company reduce unnecessary advertisement costs since previous customers frequently repurchase company products. The company can thus focus on new customers to enter into their fold through a multiplicity of marketing strategy, but the old customers need not be enticed again.
In marketing practice, customer loyalty is defined as the continuity of customer buying behavior.It refers to the customer to the products or services of dependence and recognition, adhere to long-term purchase of a high degree of trust in thought and emotion and the use of the product or service performance and loyalty degree, is the comprehensive evaluation of enterprise products shown in the long-term competitive advantage of the customers. And loyalty as a quantitative indicator, it reflects the customer to repeat the purchase of products and services to the extent. Satisfaction means that the consumer 's actual performance of the product is slightly better than expected In order to explore the relationship between satisfaction and loyalty.