BRAND LOYALTY
It simply means loyalty of a buyer towards a particular brand. Wilkie defined loyalty as, “A favourable attitude and consistent purchase of a particular brand.” For example, If a customer has a brand loyalty towards ‘Pears’, he will buy and use only that soap. There are three levels of Brand Loyalty.
1) Brand Recognition: This means that people are familiar with the product and they are likely to buy it.
2) Brand Preference: At this level, people adopt the product- that is, they habitually buy it if it is available.
3) Brand Insistence: It is the stage at which people will not accept any substitute.
BRAND EQUITY
It simply refers to value associated with a brand. It is the Marketing and financial value associated with a brand’s strength in a market. According to Aaker, “Brand equity is a set of assets and liabilities linked to a brand’s name and symbol that add to or subtract from the value provided by a product or service to a firm or that firm’s customers”.
It simply means loyalty of a buyer towards a particular brand. Wilkie defined loyalty as, “A favourable attitude and consistent purchase of a particular brand.” For example, If a customer has a brand loyalty towards ‘Pears’, he will buy and use only that soap. There are three levels of Brand Loyalty.
1) Brand Recognition: This means that people are familiar with the product and they are likely to buy it.
2) Brand Preference: At this level, people adopt the product- that is, they habitually buy it if it is available.
3) Brand Insistence: It is the stage at which people will not accept any substitute.
BRAND EQUITY
It simply refers to value associated with a brand. It is the Marketing and financial value associated with a brand’s strength in a market. According to Aaker, “Brand equity is a set of assets and liabilities linked to a brand’s name and symbol that add to or subtract from the value provided by a product or service to a firm or that firm’s customers”.
Define brand loyalty and brand equity?
![Define brand loyalty and brand equity?]()
Reviewed by enakta13
on
September 07, 2019
Rating: