Brand Loyalty is a Myth in India
I know that's a huge statement but give me 2 minutes and I'll explain myself. What is Brand Loyalty according to the nomenclature - Brand loyalty is a persistent consumer preference for a brand, shaped by emotional attachment, perceived value alignment, and cognitive biases that reinforce brand identification over alternatives. What does this mean in colloquial words, it basically says that a customer is loyal to the brand regardless of any market or price fluctuations. But before we talk about brand loyalty let's just start with loyalty that we understand in our day to day life. Loyalty is something that people give to their partners regardless if there are any ups and downs in their life or they get a prettier alternative. And loyalty requires strength. Let's say there are 2 guys. Naresh has a weak moral code, Suresh has a strong moral code, who do you think has a higher potential of not showing loyalty towards their partners. But what does strength mean when we are ...