BRAND, BRAND LOYALTY, AND LOYALTY PROGRAMS: A SYSTEMATIC REVIEW OF EXISTING RESEARCH LITERATURE

ABSTRACT

The business world is facing lots of challenges due to competitive global markets. Disruptive innovations in technology raised a question for many businesses regarding the longevity of advantages they are enjoying on their investments in current technology. Product differentiation is much tougher nowadays because of the competitors imitating the leaders in market matching the standards fairly. To solve this problem companies use brand and brand loyalty to enjoy long-term competitive advantage. The main objective of this paper is to review the existing academic literature on brand, brand loyalty and loyalty programs and its advantages to the businesses. The researchers have used secondary data sources to know how companies are using these tools for creating competitive advantages. This paper gives details regarding the benefits of having a strong brand and creating and developing brand loyalty for the organizations and its customers. The outcomes of this review paper show that brand and brand loyalty programs are an essential part of any given business