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Driving Brand Loyalty in Food and Drinks: Strategies to Improve Customer Retention Through Consumer Engagement
Business Insights, Nov 2009, Pages: 117
The retail and brand landscape today is very different from five years ago. The recession has been deeper than any recent experience and there has been a heavy toll in failed retailers and brands.
Consumer behaviour and attitudes have changed substantially and there is widespread debate without a firm conclusion as to the extent to which consumers will return to pre-recession spending behaviour.
The brands which have succeeded through the recession have been those with an extensive heritage to which consumers has turned to as a trusted brand during difficult times. Brands that are associated with value, either in low prices or as value or money have also thrived. The biggest challenges have been faced by brands which are premium/ luxury where increasingly consumers have been unwilling to pay the premium unless justified by superior ingredients and flavour experience. Even when consumers have been willing to pay the price premium, they have done so less often than they would have done pre-recession.
Key features of this report
- Analysis of the critical elements of building and retaining brand loyalty
- Evaluation of the changes to brand loyalty during the recession and the types of brand best positioned to thrive in a post recession era
- Analysis of food brands that have designed their marketing online to engender a high degree of continued loyalty
Scope of this report
- Understand how brands are expanding their marketing effort across a variety of online and offline media to drive brand loyalty
- Understand the importance of a cross company effort to ensure that all staff members understand the unique values and proposition of the brand
- Evaluate how brand extensions can add brand value and increase loyalty to the core brand
- Develop more effective brand loyalty strategies based on the in depth case studies and best practice examples
Key Market Issues
- The recession has changed customer loyalty, and post recession is likely to cause further changes to loyalty
- As consumers purchasing habits have changed, so private label and deep discount brands have developed a brand loyalty based on satisfactory taste plus lower prices
- As consumers become more sophisticated and demanding, brands need to develop marketing strategies that create a dialog with consumers and cause them to become brand advocates
Key findings from this report
1. Brand loyalty has been severely challenged by the recession.
2. Private label brands have made significant inroads into market share and are likely to continue doing so as retailer brands are actively promoted and quality and choice continue to increase.
3. Brands with a long heritage and consumer trust have survived the recession better than middle brands, and have invested to ensure that they come out of the recession strongly placed to continue growth.
4. Many middle ranking brands have been killed off by the brand owners in order to concentrate resources on the main brands.
Key questions answered
- What type of brands have increased brand loyalty during the recession
- What are the implications for brand loyalty post recession
- What methodologies are brands using to engage with consumers to encourage brand advocacy
- How has private label grown
- Who are the key purchasers of private label, and are they brand loyal to those private label brands
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