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<p style="text-align:left;"> a) Brand preference. </p> <p style="text-align:left;">b) Brand recognition. </p> <p style="text-align:left;">c) Brand insistence. </p> <p style="text-align:left;">d) Brand equity. </p>
Brand equity is not a a level of brand loyalty. It is an asset generated by an organization hence an outcome of brand loyalty.
Brand equity it is.
:-) I believe all are the components of "Brand Loyalty" but all four are of different stages of 'Brand Loyalty only difference is some are the end result of it & other's are the graph of moving towards it.
Brand Persistence: Is the highest level of Brand Loyalty where the customer is so much "Used to" of a brand or traded product that they never will buy any other substitute or any other generic product.
Brand Recognition: It is the1st step towards loyalty where the consumer has been satisfied of his previous experiences with the brand & has started recognizing the 'Brand in the shelf' & has a high probability to buy it again "If it's available".
Brand Preference: This is the stage which arises after the stage of 'Recognition' where the potential customer will give more preference to the brand compared to all the short-listed brands thus an satisfied customer & an potential loyal customer of the Trade mark or the brand.
Brand Equity: It is the totality of the brand loyalty which arises only after the step & arises after a large "Satisfied consumers who are loyal to a particular company, brand or trade mark". Though it is an intangible asset but has a realistic value. That is, if the company which enjoy's highest level of brand equity when launches a new brand has an high chance of being 'Experimented' by this large 'Loyal customer's' thus will surpass the initial stages of Brand Awareness or Trial stage. Examples of Brand's or companies to this stage ideally would be: Coco-cola, Pepsi, HUL, Titan, Dabur etc
The answer is brand equty I agree. Brand loyality comes through a good product that not only satisfies but also makes the customer say WOW what a good product. This along with good customer service that includes supporting out of warranty products in selective cases would leadto brand loaylity.
Brand Equity is not a level of brand loyalty.
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