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COBRA (consumers' online brand related activities) is a theoretical framework related to understanding consumer's behavioural engagement with brands on social media. [1] [2] COBRA in literature is defined as a “set of brand-related online activities on the part of the consumer that vary in the degree to which the consumer interacts with social media and engages in the consumption ...
Loyalty – Retention: Highly engaged consumers are more loyal. Increasing the engagement of target customers increases the rate of customer retention. Word-of-mouth advertising – advocacy: Highly engaged customers are more likely to engage in free (for the company), credible (for their audience) word-of-mouth advertising.
An example of measuring brand engagement is the service-profit chain, a statistical model that tracks increases in employee “engagement drivers” to correlated increases in customer satisfaction and loyalty, and then correlates this to increases in total shareholder return (TSR), revenue and other financial performance measures.
If a company is able to produce the same quality product as its direct competition but sell it for less, this provides a price value to the consumer. Similarly, if a company is able to produce a superior quality product for the same or a slightly higher but acceptable price, the value to the consumer is added through the quality of the product.
Marketing research is the systematic gathering, recording, and analysis of qualitative and quantitative data about issues relating to marketing products and services. The goal is to identify and assess how changing elements of the marketing mix impacts customer behavior.
The consumer will then be more likely to increase involvement with this brand, and because attitudes are difficult to change, the chances of brand loyalty occurring increase. Other advertising techniques such as comparative advertising have shown to increase [ clarification needed ] the brand attitudes one might have. [ 20 ]
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A consumer-brand relationship, also known as a brand relationship, is the relationship that consumers think, feel, and have with a product or company brand. [1] For more than half a century, scholarship has been generated to help managers and stakeholders understand how to drive favorable brand attitudes, brand loyalty, repeat purchases, customer lifetime value, customer advocacy, and ...