As proposed in the previous sections, brand credibility has three components, trustworthiness, expertise and attractiveness. Relationship marketing theory suggests that trust leads to affective commitment (Morgan and Hunt, 1994). If consumers believe that the company can deliver on its promise of service or product quality (i.e., high trustworthiness), they tend to have higher affective commitment, since trust in a company justiﬁes consumers ' positive feelings towards and reliance on the company (Erkmen and Hancer, 2015; Hunt et al., 2006). H3. Brand credibility positively affects consumers ' affective commitment.
Consumers’ self-image can be inferred from the brands they use, their attitudes toward different brands and the meanings brands have for them. The perceptions consumers have of themselves influences their brand decisions. Consumers form favourable attitudes toward those products which possess images most similar to the images they either prefer or wish of themselves. Accordingly, they buy those products which match their desired self-image because those products help consumers express themselves (Zinkham& Hong,
Behaviour is the way in which we react or we tell someone about the positive aspects or the negative aspects of some particular thing. How much we are satisfied or dissatisfied, this our behaviour or attitude shows. And when we are satisfied we try to purchase that particular thing on routine basis that shows our consumer behaviour. Factors influencing consumer behaviour: there are two types of factors influencing consumer behaviour that is internal factors as well as external factors. (A) Internal Factors (B) External Factors Sub-factors under internal factors influencing consumer behaviour are briefly explained as follows: 1.
Whereas for status oriented consumers, they have high self esteem and purchase products or services to show off their success. Lastly, action oriented consumers seek for adventures and follow fads. They are influenced by the needs of social and physical activity. Under this concept, it is understand that every individual purchase products and services based on their lifestyle. Consumers under the same demographic sub-group can demonstrate different psychographic profile (Lin 2002).
Different Models of Brand Equity In modern marketing, brand equity is considered one of the key principles that brings the added value to products and services. Brand equity can be defined as a marketing process helping indicate the relationship between the overall customer’s satisfaction and loyalty to the brand. David Aaker, a branding expert, defined brand equity as a set of factors and features related to a brand name and symbol that increases the value provided by a product or service (Aaker, 1991). Basically, if a product is not associated with a brand, it relates to a commodity. At this point, brand equity starts demonstrating its value by bringing the benefits to the revenues by means of increased sales and customer’s willingness to
This statistic illustrates the challenges companies face when trying to grow in competitive environments. Achieving even 1%annual growth requires increasing sales to customers, both existing and new, by 14%. Reducing customers’ loss can dramatically improve business and brand loyalty which leads to consistent and even greater sales since the same brand is purchased repeatedly (Giddens, 2010) . 3.6.2 Premium Pricing Ability Consumers are fewer prices sensitive when increasing the brand loyalty. Generally, they are willing to pay more for their preferred brand because they perceive some unique value in the brand that other alternatives do not provide.
This is because it helps to promote the product that has been produced in order to reach customers. Other areas of an organisation do not, they merely help the running of the organisation. This is a major importance of marketing to an organisation. In this half of the essay I will mention the factors influencing the buying decision process. Advertising campaigns have a major influence on consumer buying behaviour.
Image of the company: The image of the company or particular brand in market definitely influences the buying decision of buyer. It is usually observed that buyer is always ready to buy branded products as a preference over others. It is because that brand has instilled trust and confidence in buyers’ mind may be because of unique differentiation in products or quality. 2. Price of the product: price is the other consideration for deciding brand loyalty.
Products are made to satisfy the needs and meet the expectations of consumers. A consumer uses products and decides on a product based upon their own consumption system—the way the product is by the consumer getting the product, using the product, and disposing of the product. Additionally, the hierarchy of customer value also plays a major role in the decision-making process for customers. Though concrete attributes signify quality difference across products, the higher level abstract dimensions of quality can be generalized into categories of products. Therefore, a product must perform to an acceptable level according to the consumer’s perception of benefits in their customer value hierarchy.
When all is said in done, organizations take after market approach since market situated approach brings a few advantages and expenses to Waitrose’s. Facilitate advantages of market situated methodologies are: this procedure is client driven and Waitrose’s gives significance on the clients' requests and needs; Waitrose’s responds with client request, this procedure helps Waitrose’s to make purchaser esteem that expansion client unwaveringness and visit shopping; as Waitrose creates items and administrations that gives aggressiveness over its