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IMPACT OF RETAILER BRAND EQUITY ON CUSTOMER LOYALTY WITH CUSTOMER SATISFACTION IN SELECTED RETAIL OUTLETS IN BANGALORE CITY

Journal: Journal of Management (Vol.5, No. 5)

Publication Date:

Authors : ; ;

Page : 23-31

Keywords : Retail outlets; customer loyalty; retailer brand equity.;

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Abstract

Customer loyalty is a deeply held commitment to re buy or re patronized a preferred product or service in the future, thereby causing repetitive same brand or same brand set purchasing despite situational influences and marketing efforts to cause switching behaviors. Loyal customers will not switch to another product even if convinced that other brands perform better. A firm enjoys high brand loyalty when a sizeable number of its customers won't switch. Loyal customers pay back the company in the long term cash flows and in generating a stream of referrals. Customers can demonstrate their loyalty by choosing to stay with the provider, increase the number of their purchases or the frequency of their purchases. They can also be loyal by influencing the buying decisions of others. Loyal customers offer a competitive edge against competitors. Customer loyalty is ultimately the desired goal of all firms. The purpose of this research was to examine the relationship between the retailer brand equity and Customer loyalty. The study also recommends that management of selected Retail outlets in Bangalore city should strive to ensure that customers get value for their money. Retail outlets should not prioritize brand associations over brand trust and perceived quality because the later two have more significance in contribution to customer loyalty than brand associations. Further research should be done on other factors which are not brand related that determine customer loyalty in the retail industry.

Last modified: 2018-12-10 17:18:13