Which statement about brand loyalty is true?

Brand loyalty refers to the tendency of consumers to continue buying the same brand over a long period, demonstrating a strong preference and attachment to that brand. When consumers are loyal to a brand, they are more likely to return for repeat purchases instead of exploring other alternatives. This consistent behavior can significantly impact a company's revenue and market position.

The link between brand loyalty and repeat purchases is crucial for businesses, as it often leads to a stable customer base, reduced marketing costs for acquiring new customers, and the potential for upselling or cross-selling additional products to loyal customers. Companies typically invest in nurturing this loyalty through quality products, customer service, and brand engagement strategies.

Understanding the dynamics of brand loyalty is essential for creating effective marketing and pricing strategies, as loyal customers may be less sensitive to price changes, allowing companies to maintain or even increase prices without losing their consumer base.