Quo vadis brand loyalty? Comparative study of perceived brand value sources

Abstract

It has been proved by market reality that traditional brand management theories fail. Based on this, there is a need to provide critical revision of these theories with emphasis on behavioural approach of consumers. The most important is the task of consumer loyalty and its transposition into subjectively perceived brand value sources. So, the aim of this paper is to identify relevant brand value sources of loyalty which are significant for Slovak socio-cultural profile and to propose an effective innovative model of branding. The statistical evaluation of the data obtained from own questionnaire survey has been provided by the factor analysis supported by relevant tests. It has been found out that the fact of loyal relationship with brand affects the priority of the components of subjectively perceived brand value sources. The importance of brand value sources in case of consumer loyalty has been identified as following: 1) benefits; 2) attributes; 3) imageries and 4) attitudes while in case of consumer loyalty absence, the importance of brand value source is: 1) imageries; 2) attitudes; 3) benefits and 4) attributes. So, it can be concluded that existence of different brand value sources ranking in case of existence vs. absence of brand loyalty indicates need of selective approach towards brand value sources in the phase of brand value building and brand value managing. By doing this, traditional monistic concept of brand value building and managing has been interfered.