Brand Loyalty: Brand Names vs. Generic Brands
Why do we as, customers and consumers chose to stay loyal to specific brands? Are you guilty of being loyal to one brand and not attempt to try other brand names and/or generic brands? I am. There are so many different products, materials, strategies, etc. that companies compete with each other to try to get us (the consumers) to be loyal to that brand. Example: Coke vs. Pepsi; AT&T vs. Sprint. There are also, people that wonder are their big differences in products when it’s a brand name vs. generic brand. Upon my research I hope to answer these questions that we all have, a time or two, have wondered about? Definition
The extent of the faithfulness of consumers to a particular brand, expressed through their repeat purchases, irrespective of the marketing pressure generated by the competing brands. (www.businessdictionary.com) Brand Loyalty ranges from foods, clothing, cars, places, electronics, etc. How they get us to stay loyal
There are many reasons why we stay true to the brands we’ve developed to familiar ourselves with such as: knowing the quality in the product, don’t trust other brands or don’t care to try it, costs, availability, and /or easier resources, such as internet, the reputation of the brand by word of mouth and society standards. Companies are always developing newer and better ways to outdo their products, and old products and the products of their competitors.
Brand Name vs. Generic Brand
People have also stayed loyal when it comes to comparing the same products, but the difference is one is a brand name and the other is a generic. Such as, Tylenol vs. generic store name such as equate (wal-mart store brand). There is a difference in price? The generic (store brand) is always less in cost but is the product the same? Yes, the generic store brand of Tylenol is the same as the brand name Tylenol, the dosage, effects, risks, safety and strengths are the same, except for the...
Please join StudyMode to read the full document