Brand loyalty on a new level
A few weeks ago, we discussed marketing, advertising and branding by companies in class. A good brand can lead customers to buy not only their main products but other products as well. This helps them to build trust.
I was not surprised though at the level of brand loyalty some people have. For example, the same people who have Samsung phones also buy Samsung washing machine, cooker, freezer, TV and you name it and they will buy these items from Samsung because they trust the brand.
I found out that Samsung has a line of clothes and shoes. How very cool. How do you get your customers to love everything you make? That must save you a lot of money on advert.
Brand loyalty is flimsy though
Companies have to be very careful though, especially with luxury items. Blackberry had a great brand loyalty until it went out of fashion. Samsung also suffered when it had an issue with the battery of its iconic Tablet. VW cars took a battering in revenue during the emission scandals. It takes a lot to build a brand and only a few mistakes to destroy it.
Of course companies like most of us will make mistakes, how we deal such issues will make a difference on whether or not customers continue to trust the brand. Lexus had to recall some cars in the early days of the introduction of the brand to the US. Their approach was simply to contact every customer and arrange to get the problem fixed as early as possible to the convenience of the customer. So what would have been a public relations disaster for the brand became a lesson in how to treat your customers when mistakes are made.
That got me thinking. Is there a particular brand you will buy their products even if outside of the norm?
Will you buy a car made by Apple? TV from Toyota? Washing machine from Mercedes or BMW? A Tesla trainer?
You may also be interested in http://www.enterprisedoctors.com/buying-a-business-or-staring-from-scratch/
For a dose of motivation, you may want to check out Finding Our Path. – Blogsoulfood