Find Another Essay On Brand Loyalty and the factors affecting it
The research will. It is possible, however, to surmise specific information about brand loyalty and how this manifests in different parts of the world. As such, the literature study serves to inform various aspects of the investigation to be conducted, while also confirming the necessity of more specific studies in this regard. Liao et al. Future of Marketing: Brand Loyalty report on marketing described an ongoing paradigm shift from the old 4P model of marketing, to a newer model based on relationship marketing.
The report describes how evolving trends in business such as "the globalization of business and the evolving recognition of the importance of customer retention and marketing economies and of customer relationship economics, among other trends, reinforce the change in mainstream marketing" Gronroos. Positioning and Brand Loyalty: Sports events usually include activities like conferences, fundraising, exhibitions, promotions, product launches, social events, and others. During such events, event organizers have several responsibilities including developing event sponsorships, budget organization, collateral management, marketing, and venue management.
BMW is famous of producing quality products but its high prices hold it from expanding sales.
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Under This segment is growing since men in this category look for a cheaper alternative means of transportation and for recreational purposes. Harley is to produce high quality, safe bikes, with radical styles and provide them at reasonable prices to build up brand loyalty. These customers account for a great market chunk and, therefore, provide an opportunity for Harley, which is to provide them with safe, high performance, good quality bikes to increase brand loyalty and succeed in this segment.
Over Motorcycle lovers still want to ride Harleys when they are above 50 years of age but they now look for more comfortable, easy to use bikes. Harley is to provide them with both of them in order to penetrate this market. Harley Davidson produces only heavyweight motorcycles with engine displacements of cc or greater that are categorized into touring and cruiser motorcycles.
Touring motorcycles are designed for long distance riding and feature many car like features i. Cruisers are styled after early motorcycles and are the kind most often associated with Harley. They provide a very low profit margin because of their low prices used as a means to attract young customers. It is also to offer a guaranteed resale value that most Japanese firms are lacking , offer a high quality after sales service and, therefore, build up its brand loyalty.
This category includes a new line of riding and fashion apparel bearing the Harley Davidson insignia. These products are distributed to Harley retailers and outlets in the retail clothing market. Harley is to provide a wide variety of stylish products and aggressively market them.
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Financing Services. Harley due to its lack of capital, avoided forming its own subsidiary providing financing services something that Honda and Kawasaki have already done. Harley is to offer a wide variety of flexible plans to meet this great opportunity that arose due to inflated prices of motorcycles and willingness of people to use credit lines as a way to improve their standard of living.
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The size of its market share provides an opportunity for Harley to exploit. Its customers are the most loyal of any other brand and its products have great reputation. Foreign markets are growing very fast because customers there are obsessed with Harleys quality and safety bikes and provide a great opportunity for Harley to exploit. The main problem is Harleys limited production capability, putting customers in a waiting list for a couple of months. To succeed here Harley is to create good customer ties, provide after sales service, build up its customer loyalty, expand its distribution network, and modify its products to meet local customer needs.
Decision The first alternative is based on the idea that Harley should capitalize on its current reputation and success by rapidly increasing demand, and by expanding its product line to include all kinds of bikes. This will enable Harley to match its competitors i. This would also create major problems since increased quantity will destroy Harleys good reputation of producing safe, high quality, high performance bikes, thereby decreasing brand loyalty.
Also, Harley is to produce lightweight, sport, and heavyweight motorcycles and that is to require additional capital that the firm is lacking. Honda and Kawasaki demonstrated well that effect since their market shares decreased significantly. Alternative 2 calls for an expansion of the accessory line that is experiencing an increasing demand.
The main focus of Harley will be on men it is to provide lower priced, high quality, safe, stylish products to its customers. Harley is to try to maintain its brand loyalty, good quality, after sales service, and strong customer ties all major competitors are lacking these keys to success. The major drawbacks here are Harleys plan to pay equal emphasis on both domestic its leading position here gives the firm a competitive advantage over its foreign competitors and foreign markets. Since Harley is unable to meet demand for its products, and modify its products to meet local demands, it is to fail in succeeding in the foreign markets while loosing out in its high revenue producing domestic market.
Also, more capital is needed since Harley is to create its own financing Subsidiary company. Alternative 3, which is the one that I recommend, capitalizes on Harleys strengths. The company is to guarantee a high resale value and provide good after sales service. Also its decision to stay with FMCO financing gives the company an additional financial advantage to be used in targeting specific marketing niches. Customers under 30 years of age are to be provided with safe, stylish, high quality products at reasonable prices, thereby increasing brand loyalty.
Safety issues are not being focused by the Japanese and that gives Harley a competitive edge here though they can provide their products at lower prices. Customers from 30 to 50 years of age are to be provided with high performance, safe products, building up Harleys brand loyalty that is considered the strongest, especially in the domestic market.
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Brand and Brand Loyalty Essay
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