Brand Loyalty vs Generic Brands Free Essays

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. We will write a custom essay sample on Brand Loyalty vs Generic Brands or any similar topic only for you Order Now that companies compete with each other to try to get us (the consumers) to be loyal to that brand. Example: Coke vs. Pepsi; ATT vs. Sprint. There are also, people that wonder are their big differences in products when it’s a brand name vs. eneric 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 price the store brand is cheaper and that’s because the manufacturer has not had the expenses of making and selling a new drug. Interviews on brand name loyalist: I have interviewed the following people to compare their loyalty to a brand and why? Questions asked: Friend: 1. Q: What brand are you loyal to? And Why? A: Sony, the picture, sound and quality of the different products. Nike, the comfortability of the shoes, larger range of styles, the different professional athletes under that name; meaning that they’re producing more of the products that allows the cost to lower, making it more affordable. Lexus, the quality, the appearance, the non-depreciate value it has compared to other brands and the reputation of the name? 2. Q: How long have you been loyal to the brand? A: Sony, 1995 is when I purchased my first Sony product; Nike, 1984 in High School, I bought a new pair of sneakers; Lexus, 2010. I bought my first Lexus, and currently I’m driving my second Lexus. 3. Q: Have you tired other similar/competitors brands? And what was your outcome? A: Yes. a. before my Sony, I owned a Zenith, RCA, and Magnovox and none of them have compared to the quality of Sony. Sony’s bottom of the line product is better than the Vizio’s top of the line products. All the electronics currently in my house is all Sony. b. I had Adidas sneakers in the past but the quality doesn’t compare to Nike. How to cite Brand Loyalty vs Generic Brands, Essay examples