Loyalty (Brand Loyalty)
Russell-Bennett, Rebekah & Parkinson, Joy (2014) Loyalty (Brand Loyalty). In Lee, Nick & Farrell, Andrew M. (Eds.) Encyclopedia of Management, Volume 9: Marketing. John Wiley & Sons, Ltd., Chichester, West Sussex, United Kingdom, pp. 1-11.
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Loyalty is a desired marketing outcome for products ranging from fast-moving consumer goods, services, durables, and ideas products such as political parties and social behaviors. Evidence has shown that a base of loyal customers is advantageous for an organization as it reduces the marketing cost of doing business and improves profitability. The approaches to loyalty have varied over the decades with various schools of thoughts toward definitions, conceptualizations, and measurement. The need for understanding the nature of the product and consumer's behavior to determine the appropriate approach to loyalty is emphasized in this article. In this article, we outline the historical development of brand loyalty, the major approaches to the construct (attitudinal and behavioral) and new approaches that deconstruct attitudinal loyalty into its subcomponent parts.
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|Item Type:||Reference Entry|
|Keywords:||loyalty; attitudinal loyalty; behavioural loyalty; brand equity; strategic marketing, brand, customer|
|Divisions:||Current > QUT Faculties and Divisions > QUT Business School
Current > Schools > School of Advertising, Marketing & Public Relations
|Copyright Owner:||Copyright 2014 John Wiley & Sons, Ltd.|
|Deposited On:||23 Dec 2015 05:45|
|Last Modified:||03 Jan 2016 05:46|
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