Asked by Rabina Pandey on May 31, 2024
Verified
Brand-loyal customers typically exhibit less sensitivity to price.
Brand-Loyal Customers
Individuals who consistently purchase the same brand's products or services due to satisfaction, perceived value, or emotional connection.
Price Sensitivity
The degree to which the price of a product or service affects consumers' purchasing behaviors.
- Understand the impact of brand loyalty on consumer behavior and firm success.
Verified Answer
ER
Eddie Ray RoncoJun 01, 2024
Final Answer :
True
Explanation :
Brand-loyal customers often prioritize their preferred brand's attributes, quality, or status over price, making them less sensitive to price changes or differences compared to non-loyal customers.
Learning Objectives
- Understand the impact of brand loyalty on consumer behavior and firm success.