THE VALUE OF LOYALTY: UNDERSTANDING BRAND LOYALTY FROM A CONSUMER POINT OF VIEW

The development of brand loyalty plays an important factor in the development of marketing strategies due to the pivotal role that felt consumer loyalty holds in determining market success. From an analysis of the attitudinal, cognitive and behavioral dimension, determinants such as risk, quality and perceived price are recognized during the process of selection and purchase of consumer brands. The purpose of this article is to understand the role of consumer loyalty in relation to the purchase and consumption of brands within the modern channel through a review of the literature, in order to generate a reflective framework at the level of the retail sector.