Definition of Brand Loyalty
When a customer chooses to repeatedly purchase products or services from a single company or brand because his past experiences were satisfactory and met his expectation, that association with the brand is called brand loyalty.
In simple words, why we prefer to buy a certain brand? Or why have we associated good feelings with a certain brand? Why do we think of certain brands when it comes to quality? This is because such brand or brands has acquired our loyalty through the consistency of providing us decent products and services that has fulfilled our need in a fashion that we think no other brand could have done. This strong feeling about a certain brand is called brand loyalty.
If a brand has strong brand loyalty, it can result in a great number of profits for a company. So building strong brand loyalty is the key to that brand's success.
Example of Brand Loyalty:
Apple has the brand loyalty of hundreds of millions if not billions. Its most popular iPhone has transformed the smartphone industry with its unique operating system and remarkable design that users latterly crave. There was news back in 2012 that a Chinese student sold his kidney to buy the latest iPhone. This is a strong brand loyalty of that student towards Apple.