JJEM: Volume 1 Issue 2 (Jul - Dec 2017)
JJEM: Volume 1 Issue 2 (Jul - Dec 2017)
2017-12-30
Brand Loyalty: A Best Approach towards Sustainable Business in FMCG
Sumant Parimal
Market Research and Market Analysis done in FMCG space—While most of the retailers and manufacturers believes that the cost and quality are two key leavers to gain market share, however our research in FMCG market space reveals that brand loyalty is best approach to build a sustainable business in FMCG. This research paper establishes that customers loyal to a brand are not generally susceptible to typical price or quality based marketing campaigns of competitors, rather they show repeat patronage to the brands they are loyal to. Further it has been observed that loyal customers/consumers owns, endorses and celebrates their favorite brands. In return, brand to whom customers/consumers are loyal to, has to develop extraordinary connect with its customers/consumers by understanding and delivering on consumers’ needs and expectations. Our research establishes that if a brand takes cares of expressed and unexpressed needs & expectations of their customers/consumers, costumers in turn reward that brand with loyalty, repeat patronage and willingness to pay price premium. It has been further established that its customers who makes a brand a Market Leader or allocate an alternate position in market based on how well that brand serves and meets their needs & expectations.
Customer Loyalty; Brand Loyalty; consumer; customer; FMCG;