This topic contains a solution. Click here to go to the answer

Author Question: What is brand loyalty? Explain the three degrees of brand loyalty.[br][br][b][color=#151B54]Question ... (Read 138 times)

sdfghj

  • Hero Member
  • *****
  • Posts: 552
What is brand loyalty? Explain the three degrees of brand loyalty.

Question 2

When marketers emphasize price as an issue and match or beat the prices of other companies, they are using
 A) price competition.
  B) nonprice competition.
  C) comparative pricing strategies.
  D) demand-based pricing.
  E) supply-based pricing.



Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

b614102004

  • Sr. Member
  • ****
  • Posts: 320
Answer to Question 1

Brand loyalty is a customer's favorable attitude toward a specific brand. If brand loyalty is strong enough, customers may purchase this brand consistently when they need a product in that product category. Customer satisfaction with a brand is the most common reason for loyalty to that brand.
There are three degrees of brand loyalty: recognition, preference, and insistence. Brand recognition occurs when a customer is aware that the brand exists and views it as an alternative purchase if the preferred brand is unavailable or if the other available brands are unfamiliar. This is the mildest form of brand loyalty. The term loyalty is clearly used very loosely here.

Brand preference is a stronger degree of brand loyalty. A customer definitely prefers one brand over competitive offerings and will purchase this brand if it is available. However, if the brand is not available, the customer will accept a substitute brand rather than expending additional effort finding and purchasing the preferred brand.

When brand insistence occurs, a customer strongly prefers a specific brand, will accept no substitute, and is willing to spend a great deal of time and effort to acquire that brand. If a brand-insistent customer goes to a store and finds the brand unavailable, he or she will seek the brand elsewhere rather than purchase a substitute brand. Brand insistence is the strongest degree of brand loyalty; it is a brander's dream. However, it is the least common type of brand loyalty.

Answer to Question 2

A




sdfghj

  • Member
  • Posts: 552
Reply 2 on: Jun 29, 2018
Thanks for the timely response, appreciate it


emsimon14

  • Member
  • Posts: 344
Reply 3 on: Yesterday
Gracias!

 

Did you know?

There are approximately 3 million unintended pregnancies in the United States each year.

Did you know?

The first monoclonal antibodies were made exclusively from mouse cells. Some are now fully human, which means they are likely to be safer and may be more effective than older monoclonal antibodies.

Did you know?

Atropine was named after the Greek goddess Atropos, the oldest and ugliest of the three sisters known as the Fates, who controlled the destiny of men.

Did you know?

Ether was used widely for surgeries but became less popular because of its flammability and its tendency to cause vomiting. In England, it was quickly replaced by chloroform, but this agent caused many deaths and lost popularity.

Did you know?

In the United States, there is a birth every 8 seconds, according to the U.S. Census Bureau's Population Clock.

For a complete list of videos, visit our video library