Modern Marketing Dilemmas: Is it still ok to talk about brand loyalty?
Five studies that change the conversation about repeat purchasing and preference and explain the forces behind them.
“Is it cheaper to sign a new customer or to keep an existing customer?”, the freshly enrolled Business School enthusiast (and office beau) Ryan asked Michael Scott in the fourth episode of the second US Office series. “It’s equal” Michael responded, which was widely considered the wrong answer back in 2005.
Many business schools at the time were giving courses on what brand loyalty is and how to build it. Reminiscent of the big-ticket concept of ‘service’ from the 80s and 90s; its popularity jumped up by the best-selling books of Tom Peters’ ‘In Search of Excellence’ and Jan Carlzon’s ‘Moments of Truth’ that carried the momentum for years.