Why Are We Loyal To Certain Brands? Video Case
Why Are We Loyal To Certain Brands Video Casehttpsyoutube9iqo8
"Why Are We Loyal to Certain Brands?" video case Discuss the following : Which customer behavior factors could a brand extract if they were deciding upon offering product choices? Which customer behavior factors would a new a brand have to address to overcome the "mere exposure effect"? Why are multiple factors important when evaluating customer behaviors? Identify a business that you believe evaluates customer behaviors based on multiple factors. What are those factors? How do those factors bring value to the marketing effort? Submission: 2-3 paragraphs, APA
Paper For Above instruction
Understanding customer behavior is pivotal for brands aiming to tailor their product offerings and marketing strategies effectively. When a brand is deciding on which product choices to offer, it can extract various customer behavior factors such as preferences, purchase history, brand loyalty levels, perceived value, and brand awareness. Preferences and purchase history provide insights into what customers favor, enabling brands to customize their product lines to meet specific needs (Kotler & Keller, 2016). Brand loyalty levels reveal the strength of customer commitment, guiding the brand in focusing on retention strategies. Perceived value influences customers’ willingness to purchase and can help in positioning products accordingly. Additionally, understanding brand awareness can help brands identify opportunities for expansion or differentiation.
For a new brand to overcome the "mere exposure effect," which is the phenomenon where repeated exposure increases familiarity and preference (Zajonc, 1968), it must address factors beyond just visibility. These include emotional connection, perceived uniqueness, and product relevance to the target audience. Creating engaging experiences, emotional branding, and establishing a strong value proposition can help new brands differentiate themselves from competitors and foster genuine loyalty. Relying solely on exposure may lead to superficial familiarity, but addressing deeper emotional and perceptual factors ensures sustained customer interest and loyalty.
Evaluating customer behaviors based on multiple factors enhances the comprehensiveness of marketing strategies. It enables brands to understand diverse influencing elements and tailor their messaging to resonate more effectively. For example, Amazon evaluates various factors like browsing and purchase history, customer reviews, and preferences to personalize recommendations (Lemon & Verhoef, 2016). These factors drive value by increasing relevance for consumers, boosting engagement, and increasing conversion rates. Multiple factors allow brands to create holistic customer profiles, leading to more targeted and efficient marketing efforts that foster loyalty and lifetime value.
A notable example of a company that evaluates customer behaviors across multiple dimensions is Starbucks. The coffee giant considers purchase history, location data, seasonal preferences, and loyalty program engagement to personalize offerings (Verhoef et al., 2021). These factors enable Starbucks to deliver tailored promotions and product recommendations, enhancing the customer experience and fostering loyalty. The integration of various behavioral data points creates a more dynamic and responsive marketing strategy, ultimately driving sustained growth and competitive advantage (Verhoef et al., 2021).
References
Kotler, P., & Keller, K. L. (2016). Marketing Management (15th ed.). Pearson.
Lemon, K. N., & Verhoef, P. C. (2016). Understanding customer experience. Journal of Marketing, 80(6), 69-96.
Verhoef, P. C., Kannan, P. K., & Inman, J. J. (2021). From Multi-Channel Retailing to Omni-Channel Retailing. Journal of Retailing, 97(2), 174-185.
Zajonc, R. B. (1968). Attitudinal effects of mere exposure. Journal of Personality and Social Psychology, 9(2p2), 1-27.