The Determinants of Brand Loyalty in the Textile Industry among Bankers (PDF)

Description

– The Determinants of Brand Loyalty in the Textile Industry among Bankers –

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Abstract

This study examined the Determinants of Brand Loyalty in the Textile Industry among Bankers in Calabar Metropolis. The case studied were staff of selected banks in Calabar Metropolis.

The major objective was to find out what makes a banker to prefer one brand of textile product to another. In pursuit of this lofty objective, the study employed a survey research design and gathered data from both primary and secondary sources.

Having analyzed the data using simple percentage frequency statistical technique and chi square test of the hypotheses developed for the study, it was discovered, among other things that work environment, corporate policy, income, personality profile, and class/peer pressure constitute the determinants of brand loyalty in the textile industry among bankers in Calabar metropolis.

Among all of these factors, work environment was found to be the best predictor of brand loyalty in the textile industry. In view of these discoveries, the study concluded that brand loyalty in the textile industry is a function of work environment, corporate policy, income, personality profile, and class/peer pressure.

The study therefore recommends that bankers should first be exposed to a work environment where preference is given to mode of dressing before developing loyalty for any textile product because such preference is the essence of marketing and is inextricably related to brand loyalty.

And for the producing/marketing firms, it is recommended that they should research into the identified factors with a view to seeing how to build these factors into their total textile product such that will beat competing brands in the market if they are to enjoy continued bankers’ patronage and stay in the market.

Introduction

1.1 Background of the Study

In today’s corporate world, peculiar mode of dressing is a common phenomenon among employees of many organizations. A visit to places like banks, hospitals, fast food outfits, hospitality outfits like hotels, to name but a few, will prove that, in almost all organizations, there are peculiar mode of dressing by the staffs.

These firms and their employees have turned loyalists to a particular brand of apparel(s). Their brand loyalty is what firms in many industries including the textile industry keep investigating with a view to creating a niche for effective marketing of their products.

Consequently, many companies have experienced mind-boggling whirr of changes in marketing which according to Kotler (2006) is what drive businesses.

One of such change is in the area of product branding. Little wonder while in countries like Nigeria, consumers are flooded with a plenty of brands of textile products, both national and international.

These new brands offer innovative features with better quality, but from the perspective of Nigerian manufacturers, these new entrants are major threats (Samudhra, Rajakumar and Sritharan, 2004).

In this context redefining the role of marketing as creating, communicating and delivering value to customers (Kotler, 2006), and constant tracking of consumer preferences are a must to evolve some strategies to maintain their existence in the market; and one of the strategies is creating brand loyalty.

Brand loyalty is a term used to describe the tendency that consumers have to stick to the products or services bearing brand names they know and trust. Brand loyalty translates to repeat sales so it is in the best interest of the company that carries the brand to maintain its reputation and recognizability in order to maintain profit.

Altering the look and feel of a brand can have disastrous consequences for a company, as it runs the risk of alienating brand-loyal consumers who may not recognize or trust the product or service under different packaging.

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