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Posted by Informer 453 Days Ago | Category: Identity & Branding
Years of total quality management (TQM) and customer service improvements have significantly improved the perceived (and actual) quality and value of products and services in many categories. You might think that this would increase customer brand loyalty as well. However, it often has the opposite effect. The more satisfied customers become with all brands, the less loyal they become to any particular brand.Essentially, every brand exceeds their satisfaction threshold and they then are more susceptible to making their purchase decisions based upon price differences. So, in general, brands are not commanding the price premiums that they once did. What is the solution?-- relentless brand differentiation/repositioning. Brands matter less, which interestingly, can make the brand strategist’s job more critical.Sponsored By: Harvard Business School Press
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