Brand Loyalty – Does It Exist?
Do you have the slightly older folks in your office telling to go and Xerox a letter for them? Or have you had your parents ask you to run to the grocer to go get some colgate? Brand loyalty was such a huge part of life at one point. It was so prevalent that we used to address certain products by a particular brand.
As a kid growing up, i always wanted a pair of Levi jeans. Or a Nokia mobile phone or my father who only read The Star and nothing else. The older folks had brand loyalty!! It was not even a situation where a certain product was a monopoly. If someone said that he/she is a ASTRO fan, dude…do we have a choice?
There are no right answers if someone asked if being loyal to a brand was good or bad in my view.
The younger generation to be honest done know what brand loyalty is. For instance i have been supporting Liverpool FC since i was 10 years old. It was my team for about 20 years now ,why? Because the team had pedigree, the team has history and I simply loved watching them play. Yes they maybe nothing compared to the old day but I’m staying put with my alliance of a sport i enjoy watching.
Now a football club that i follow does not impact my life or change anything in my life so i can afford to be loyal to a football club.Now a pair of jeans, well its money that’s coming out of my pocket for a piece of cloth that’s going to cover me. So ill buy something that i can afford, looks good and of decent quality.
Another scenario, should you be loyal to your bank? Well, if your bank provides you superb service with a sliding bad interest rates vs a new bank with great interest rates but not so good service, what would you do? Remain loyal??
With the consumer on the constant look out for the st value for money, loyalty in my view is slowly slipping. I think this is a good thing. This means more options being given to us as consumers and not getting stuck to something we are not the happiest with but stuck because we dont have a option.
Its the broadband situation! I use streamyx as my broadband provider at home. I pay RM88 for a 1mb line! I think that the speeds are horrible and i should not be paying that much for a internet service. I have lots of friends who live in Australia who tell me about the high speeds for such low prices. How low? 24Mbps for AUD$59.95. How about that!!
As a market leader streamyx should have ran with it, providing new services, innovating new go to markets etc but since they are slow and rubbish, i know most people are waiting for new provides to offer alternatives.
Its like alternative media that is getting so much mileage since its the worst kept secret that mainstream is dominated by a certain quarters.
I say, screw brand loyalty and go for a service or brand that offers you the best value for money. If there is a brand or provider who is more interested in your money, you should give them a opportunity to proove their worth! That will spur on more new ventures to emerge and ultimately the consumer benefiting from it!