Is brand loyalty of consumers affected by a financial crisis?
The current financial crisis has spread around the world and no consumer has stayed untouched. In economic downturns, consumers are trying to better manage their expenses due to uncertainty for the future. In such cases, their brand loyalty might be shaken. Especially for UK consumers, whose purchasing power is lower than the other nations, the situation in the beginning of 2010 seems to be much more difficult. Hence, the purpose of this research is to investigate the impact of the current recession on UK consumers’ brand loyalty. A quantitative method will be employed and the empirical data will be collected through questionnaire survey with a sample of fifty UK consumers from the area of Thessaloniki. The questionnaire survey will be distributed to different people regardless of age and demographic characteristics, backgrounds and attitudes. The results of the study will aim to show that not all consumers’ brand loyalty has been shaken the same by the recession but some types of consumers were more affected compared to others. Furthermore, the research will aim to indicate that brand loyalty varies over products so some product and service categories lost a big part of their market share. The findings might be interesting and useful to several companies that would like to be aware both of the profiles of the customers that are more likely to switch to cheaper brands and the products that will easily lose a part of their market share during a recession so that can formulate the appropriate marketing strategy.
In the highlighted part right the name of the area where it will be easier for to distribute fifty surveys and get them back. What Influences brand loyalty towards cigarette brands in the UK market? Brand loyalty has been a one of the biggest issues in the world of marketing over the last years. The two topics of brand loyalty and cigarette smoking have rarely been linked. A possible...
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