In: Economics
Discussion Board:
When a person buys the same brand over and over, does this mean it's just a habit or is he or she truly loyal to that product? In some cases, it is just inertia, which means that it involves less effort to throw a familiar package into the cart. Brand loyalty is a totally different story. This describes a pattern of repeat purchasing behavior that involves a conscious decision to continue buying the same brand.
As you might imagine, though both inertia and brand loyalty yield the same result, the latter is harder to achieve, but also much more valuable because it represents a true commitment by the consumer. One simple test that may help to tell the difference: If the consumer discovers that a store is out of his or her normal brand, will he or she just choose another one or defer the purchase to find this brand somewhere else?
Q1 Give an example of a brand you are loyal to and what purchase effort you have gone to or would go to acquire the product.
If the consumer discovers that a store is out of his or her normal brand, will he or she just choose another one or defer the purchase to find this brand somewhere else?
Well, being a woman my answer is a big NO! And being a customer loyal to one particular brand doesn’t change too.
The costumer will choose an another brand only if he/she doesn’t have any other option except for going for another brand or if there is any discounts, offers or so, or he has any emergency for that particular product otherwise the preference is always to buy the brand you are loyal with.
If it is not available at a particular store the costumer could wait for its restocked if he could or else defer the purchase to find this brand somewhere else.
Give an example of a brand you are loyal to and what purchase effort you have gone to or would go to acquire the product.
I am loyal to the brand ‘Marks and Spencer ‘.
The recent purchase effort I have done to buy this brand is to travel to different state just to go shopping for this particular brand. I heard a upcoming new stock update in only one of the state in the entire country which leads me to plan my vacations accordingly. And trust me with that my vacations were worth my spending’s.