1. Greater loyalty levels lead to less marketing expenditure because the brand loyal customers promote the brand positively through word of mouth communication.
2. It acts as a means of launching and introducing more products that are targeted at same customers at less expenditure.
3. It also restrains new competitors in the market.
4. Brand loyalty is a key component of brand equity.
5. Brand loyalty can be developed through various measures such as quick service, ensuring quality products, continuous improvement, wide distribution network, etc.
6. When consumers are brand loyal they love “you” for being “you”, and they will minutely consider any other alternative brand as a replacement.
7. As brand loyalty increases, customers will respond less to competitive moves and actions.
8. Brand loyal customers remain committed to the brand, are willing to pay higher price for that brand, and will promote their brand always.
9. A company having brand loyal customers will have greater sales, less marketing and advertising costs, and best pricing. This is because the brand loyal customers are less reluctant to shift to other brands, respond less to price changes and self- promote the brand as they perceive that their brand have unique value which is not provided by other competitive brands.
Lellah answered the question on November 5, 2021 at 12:04
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