Business / April 23, 2015 / No Comments /
Focus on brand-consumer relationship; customer loyalty. Theories of consumer behavior incl. Decision-making process.

For more than a century, the use of brands as a means of first identifying a product and then acquiring and maintaining consumer loyalty to that product and its manufacturer has been a key element in marketing activities (Berthon, Hulbert, and Pitt, p. 53). It is generally assumed that brands create a distinction among entities that may satisfy a consumer’s need. This primary distinction is the origin of a series of benefits for both the buyer and the seller (Berthon, Hulbert, and Pitt, p. 54). Brands are perceived as having the capacity to reduce search costs for consumers, to assure quality and reduce perceived risk, and to impart status and prestige to purchasers. For sellers, brands are regarded as fostering repeat purchases, facilitating new product introductions, consumer loyalty, and…

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