BRAND LOYALTY Essay Example | Topics and Well Written Essays - 500 words

BRAND LOYALTY - Essay Example lty has five advantages; 1-profit, 2-reduction of new customer aquistion costs, 3-word of mouth helps marketing, 4-customer willingness to pay higher prices, and 5-higher Brand Loyalty results in higher market shares. The importance of Brand Loyalty are the same as the advantages. Brand Loyalty reduces price sensitivity for the consumer. If a consumer trusts a Brand, they are willing to pay more for a product. Loyal consumers will also recommend Brands to other people saving marketing costs. Brand Loyalty increases profits, while providing competitive advantages toward successful brands. Brand Loyalty inspires trust in consumers, raises market shares, and increases profits for the company marketing the Brand. Brand Loyalty does not have a set measureablity. A few vairables to measure Brand Loyalty are brand preference and attitude toward the brand. Different Brand manufacturers use different measurements. The measurement of Brand Loyalty is important because managers must cope with the disloyalty among customers and predict Brand Loyalty. There are six strategic Branding decisions corporations must make; 1-Brand context, 2-Brand construction, 3-Brand confirmation, 4-Brand consistency, 5-Brand continuity, and 6-Brand conditioning. After establishing these six strategic Branding decisions, Long Term strategic advantages for building Brand Loyalty are 1-improvement on return of all investment made in the brand, 2-maximising Brand growth potential, and 3-protecting the brand against consumer â€Å"disloyalty† triggers. There are four â€Å"disloyalty† triggers; 1-peer recommendations to try different Brands, 2-new products, 3- perceived shift in price-value relationship of the Brand/competitive Brand, 4-strong competition advertising. Long term strategic disadvantages include a lack of understanding of what the Brand stands for, inadequate funding/research, and private label threats. Short Term Branding challenges are 1-senior managements short-term focus

Psycological study of sleep depravation Essay Example | Topics and Well Written Essays - 1500 words

Psycological study of sleep depravation - Essay Example These include restoration of physiological function, energy conservation and facilitation of the healing process (Dotto, 1996). Adequate sleep is thus required for all these purposes. Moreover, studies have elucidated that in addition to adequacy of sleep, the quality of sleep acquired also has major bearing on one's functioning. This fact is emphasized by Dr. Carlyle Smith, professor of psychology at Trent University in the following words: "Whether you're studying for university exams, memorizing the script of a play, learning to drive a car or training intensively for an athletic competition, your performance can be affected not only by how much sleep you have had, but also by what type of sleep you got and when you got it (Dotto, 1996)." Sleep disturbances are fairly common in today's society and with the pressing demands of work, education, etc and the ever-increasing time constraints, sleep deprivation is inevitable and studies have shown a 20% sleep reduction amongst Americans over the past century (Colten & Altevogt, 2006). Sleep deprivation and sleep related problems have been found in an alarmingly high number of people and some studies suggest figures as high as 50 to 70 million amongst Americans (Colten & Altevogt, 2006). ... The degree of sleep deprivation has been shown to vary according to different factors such as one's age, occupation, lifestyle, etc. Sleep related issues are most common amongst teenagers, women and adults who are aged greater than fifty years (Virginia Mason Medical Center, 2009). Almost one third of the young adults have been found to be insomniac (Bonnet & Arand, 1995) and almost 58million Americans have been shown to suffer from symptoms of excessive sleepiness throughout the day which impairs their social and functional capacities (Virginia Mason Medical Center, 2009). These figures reflect the gravity of the situation from a public health perspective. The magnitude of the burden of this disorder can also be judged from the exorbitant medical costs, both direct and indirect, which can be attributed to this disorder. Some studies report the costs associated with sleep deprivation and its hazardous consequences to be as high as 56 billion dollars per year (Bonnet & Arand, 1995). The duration of sleep varies within and amongst populations and hence it is difficult to determine the level of sleep which can be defined as adequate. Various studies have concluded that individuals require a minimum of eight hours of sleep per day (Bonnet & Arand, 1995) and recent estimates show that amongst adults, the average number of hours spent sleeping is six hours and 57 minutes which considerably less than that termed as adequate (Virginia Mason Medical Center, 2009). However, these values vary from individual to individual. Thus it becomes relevant to assess the sleep need on an individual basis. This is achieved by letting the individual go to bed in