Hospitality companies can increasetheir market share and growth rates by increasing their brand loyal customers. This is a more profitable approach than other marketing activities, such as price cuts or promotional programs. As a mature industry, the hospitality business must pursue market-share gains, rather than market-growth gains. Acquiring new customers is expensive becauseof advertising, promotion, and start-up operating expenses. Besides, it is cheaper to serve current customers. This paper brings together the factors that contribute to brand loyalty in marketing literature and provides strategies to hospitality managers for increasing brand loyal customers.
|Number of pages||13|
|Journal||International Journal of Contemporary Hospitality Management|
|Publication status||Published - 1 Sep 1999|
- Brand extensions
- Brand loyalty
ASJC Scopus subject areas
- Tourism, Leisure and Hospitality Management