Loyalty in the exotic car market Assignment Example | Topics and Well Written Essays - 2500 words

Loyalty in the exotic car market - Assignment Example Although individuals might be quick to point out that brand loyalty affects decisions regarding Burger King or McDonald’s, Coca-Cola or Pepsi, or Toyota and Ford, it also impacts upon the way in which an individual views and ultimately integrates with an exotic car purchase; should they ever have the available resources to do so (Clinard & Berkey, 2013). Through such an examination it is the hope of this particular student that such a level of discussion can be useful with respect to apply the concepts of consumer and brand loyalty to the exotic car market; providing for the levels of success for firms that seek to promote brand loyalty as a means of increasing profitability and returning customer base. One of the first understandings concerning brand loyalty within the exotic car market has to do with research produced by Neil (2013). Within this particular piece of research, the authors indicate that several distinct psychological processes are entailed with the way the consumers make choices and identify with products. To a large part, this same psychological structure and framework is evident with respect to the way in which brand loyalty is predicated within other markets. The author indicates that brand loyalty within traditional consumer markets is predicated upon issues concerning trust, satisfaction, repeat purchase behavior, value, and other elements. However, within each particular market the way in which brand loyalty is exhibited is predicated upon a different set of metrics. In other words, the reader comes to understand that brand loyalty is ultimately products dependent. Essentially, the value and satisfaction that a given good or service represents to the consumer is based upon what that particular good or service is attempting to fulfill within the life of the consumer (Caplan, 2010). Likewise, within