What is brand loyalty?


What is brand loyalty?

Brand Loyalty:

In business, reputation matters. If a business has a poor track record with their products, new customers will be unlikely to spend very much for new ones and more likely to change to products from a different company if they can. The reverse is also true and if a company has a great track record of making fantastic products with good service, customers are often willing to pay more for that company's products than their competitors.

Answer and Explanation:

Brand loyalty is the trust in the company that it builds over time in the form of customers who seek out and prefer their branded products over...

See full answer below.

Become a Study.com member to unlock this answer! Create your account

View this answer

Learn more about this topic:

What Is Brand Loyalty in Marketing? - Definition & Examples

from Principles of Marketing: Help and Review

Chapter 2 / Lesson 10

Related to this Question

Explore our homework questions and answers library