What is the role of brand loyalty in marketing?
As the name suggests, the loyalty to the brand is the preference that the customer develops for a specific product brand, above other brands in the same or similar category. The importance of brand loyalty in marketing concerns the ability of the company to encourage and maintain consumer loyalty to its product brand through efficient marketing. Marketing loyalty in marketing is a process that requires careful study of consumer trends of companies or manufacturer to use knowledge acquired for the sale of its products.
The study of some consumer shopping habits will show whether it is loyal to the brand. An example is if the consumer would prefer to buy a specific product brand from different options from the same product category. For example, the consumer would rather buy ABC glass cleaner from the pool of about 30 other similar products. Another feature is if the consumer is willing to pay a little extra or make a little more effort to make the desired brand. If the trade does notABC glass cleaner and consumer is willing to go to another store to look for a brand, then it shows that the consumer is loyal to this glass cleaner brand.
The company can use marketing tools such as advertising, promotional events and other types of strategy to encourage consumers to develop loyalty to its product brand. When advertising the product, the company will emphasize its good properties and why it has the advantage of similar competing products. Effective marketing also includes the use of promotional tools such as product use, discounts, coupons and strategies without buy-one-get-one.
The influence of brand loyalty in marketing with regard to the company includes increased sales, consistent sales through the development of a reliable consumer base and the overall growth of the company. Although branded is important, it may be difficult to maintain it for various reasons. TreConsumer NDs are changing arbitrarily and the company must adapt to changes in trends to satisfy, maintain and even add more consumers to its loyalty base. Companies must also deal with the competitors on the competitive market, which is trying to expand its faithful consumer base. Similarly, other companies that sell similar products explore the effect of brand loyalty in marketing to increase their profits and prolong competition.