The Relationship Between Brand Loyalty Essay Example for Free

The Relationship Between Brand Loyalty Essay Evaluate the relationship between brand loyalty, corporate image, and repeat purchasing. Brand loyalty In marketing, brand loyalty comprises of a consumers commitment to repurchase the brand and can be demonstrated by repeated buying of manufactured goods or services or other positive conducts such as word of mouth advocacy. True brand loyalty involves that the consumers are willing, at least on event, to put aside their own needs in the interest of the brand. Brand loyalty is more than simple repurchasing, however. Customers may repurchase a brand due to situational constraints, a lack of viable alternatives, or out of convenience. Such loyalty is referred to as spurious loyalty. True brand loyalty exists when customers have a high relative attitude toward the brand which is then exhibited through repurchase behavior. This type of loyalty can be a great asset to the firm: customers are willing to pay higher prices, they may cost less to serve, and can bring new customers to the firm. For example, if Joe has brand loyalty to Company A, he will purchase Company As products even if Company Bs are cheaper and/or of a higher quality. An example of a major brand loyalty program that extended for several years and spread worldwide is Pepsi Stuff. Perhaps the most significant contemporary example of brand loyalty is the fervent devotion of many Mac users to the Apple company and its products. From the point of view of many marketers, loyalty to the brand in terms of consumer usage is a key factor. Corporate image A corporate image refers to how a company is perceived. It is a normally accepted image of what a company stands for. The formation of a corporate image is an implement in the perception management. It is created solely by marketing managers/consultants who use public relations and other forms of promotion to suggest a mental picture to the public. Usually, a corporate image is designed to be interesting to the public, so that the company can spark an interest among customers, create share of mind, create brand equity, and thus make easy product sales. A corporations image is not solely created by the company: Other contributors to a companys image could include news media, journalists, labour unions, environmental organizations, and other NGOs (non-governmental organization). Corporations are not the only form of organization that creates these types of images. Governments, charitable organizations, criminal organizations, religious organizations, political organizations, and educational organizations all tend to have a unique image, an image that is partially purposeful and partially unintended, partially self-created. For example, the corporate image for Serenity Spa Salon, which has an image of a lady, faced up with hair flowing down. This image gives the sense of relaxation where a lady can get her face and hair done. The soft colours used give an impression a relaxing ambience at the salon. Thus inviting tired women to come here and unwind while their hair and face are being treated. Only if the experience is a success for the customer will it be turned into repeat purchases. These repeats, not the single purchase which is the focus of most models, are where the vendors focus should be, for these are where the profits are generated. For example, Mrs Lee have tried the PILOT pen before and she thinks it is a comfortable pen to write with. She buys more for her office use which all suppliers are looking forward to. Some suppliers even gives a sample to trial on so that the customer will want to buy from them again as it satisfied them to use it.

The Economic Impact Of The Olympic Games Essay -- Olympics Economy

The Economic Impact of the Olympic Games Missing Graphs With the Olympic games being held in Sydney this year, I wondered if perhaps the performance of the economy was being affected in part by the fiscal stimulus provided by Olympic construction in Sydney and other parts of the country. Australia’s economy has been performing well recently, suggesting that there might be some effect. Over the last five years, growth in Australia’s gross domestic product has averaged 4.35%, almost a full point above it’s thirty year annual average of 3.5%, and the unemployment rate is near a ten year low. According to one estimate, the Olympics will tack on an additional six and a half billion dollars, about 1.6% of the GDP, to Australia’s GDP over the 1994-2000 period. A natural question to ask is if this growth is due primarily to the Olympic preparation, or if, instead, it is a result of some other change in policy, or perhaps just plain old luck. One way to address this question is to see if other host countries have experienced increases in GDP around Olympic years. Below is a graph of one measure of the boost to GDP that countries receive from hosting the Olympics. Each point represents the average, over all of the host countries since 1952, rate of growth of GDP. What this graph suggests is that prior to the Olympics and during the Olympic year GDP growth is higher than average - maxing out at nearly 1.5% above average GDP in the 3rd year before the Olympics. This number seems consistent with the estimates for Sydney - at least prior to the Olympic year. However, the graph also suggests that growth rates are lower in the years after the Olympics, than in the years prior to the games. The economic benefits of the 2000 Olympics can be classified as direct and indirect. Direct benefits include the impact of the Olympics on exports, investment and employment. In terms of exports, the main impact will be inbound tourism, sponsorship fees, media broadcast rights, and ticket sales. The staging of the Olympics will encourage more international tourists to visit Australia. Sponsorship fees received from international sources were strong leading up to the Olympics and according to the Reserve Bank of Australia (RBA), broadcast rights, approximately one billion dollars in value, were recorded as exports in September quarter 2000. Ticket sale sold to overseas visitors,... ...tself. Importantly, the benefits will continue well into the new millennium as Australia gets more international exposure for its exports and gains from the transfer of technology and knowledge from the world’s best. Opportunity beckons for the athletes, for exporters, for artists, for scientists and for the whole Australian community. Bibliography Arthur Anderson / CREA (1999) â€Å"Economic Impact Study of the Sydney 2000 Olympic Games†. January 1999. Arthur Anderson and the Centre for Regional Economic Analysis, University of Tasmania. Dabkowski, S and Ketchell, M (1999) â€Å"Olympic Dream May Not Deliver Riches.† The Melbourne Age. Gittins R (1999) â€Å"Swifter! Higher! Richer? Sadly Not With Our Games.† May 8 1999, Sydney Morning Herald. Mules,T â€Å"The Economic Impact of Special Events .† Griffith University, Gold Coast Queensland. Olympic Co-ordination Authortiy (OCA) (1999) â€Å"State of Play: A Report to the People of New South Wales† June 1999, OCA, Sydney. Reserve Bank of Australia (1999) â€Å"The Economic Effects of Staging the Olympic Games† Semi-Annual Statement of Monetary Policy, May 1999, Reserve Bank, Sydney.

Tripadvisor

1. Why do consumers write reviews? Most users were pleased with their hotel or travel experience, so they wanted to share them to others. On the contrary, some write review because they aren’t satisfied with hotel’s service or facilities and feel disappointed. A few want to have a conversation or take it as a shortcut to reach management. In summary, consumers write reviews because they feel that it is useful to get advice from the website and want to exchange useful information and experience with others. 2. Why is Tripadvisor appealing to consumers?Tripadvisor displays detailed ,rich and relevant data for use by consumers in their travel planning. Tripadvisor can guarantee authenticity by examining all data entered to insure that no fraud data. A sophisticated algorithm is used to calculate the ranking taking into consideration the quantity, quality ,age of reviews and external data . So it provides unbiased information which win the trust of consumers. Potential cons umer can use this vast pool of data to help evaluate alternatives during the consumer decision making process.This â€Å"world of mouth† information is perceived as being more vivid, easier to use and more trustworthy than marketer-provided information. 3. How would you measure how â€Å"engaged† people are with Tripadvisor? Can you suggest some â€Å"actionable† metrics that Tripadvisor might be using in how it interacts with its user base? There are several measures can evaluate how people â€Å"engaged†: * Registration date * Log-in frequency * Numbers of reviews ,photos or videos posted * Update frequency of reviews, photos or videos. How long people remain activity status * Ranking of reviews or photos * Interactive with others on the forums * Average days each user spend on TA * Average time each user spend every log-in. 4. What do hotel owners and property managers feel about Tripadvisor? How does Tripadvisor manage to create the balance between co nsumers and hotel managers? 5. How does Tripadvisor monetize its UGC? How does it differ from many of the other UGC sites on the Internet (pick a few for comparison)? Tripadvisor use three main sources to monetize its UGC: Text links take users to hotels which could charge to TA on a cost-per-click basis. Once user click into the hotel link,the hotel should pay TA from $0. 25 to $1. * Display advertising on the basis of cost-per-thousand impression. That is showing advertising for thousand time then charge once. * â€Å"Business listing† service business owner to promote their TA listing by adding contact information or discount to consumer via coupons. There are many UGC website, some have the same profit model, some have different profit model.Take â€Å"secondlife † as example, its main business are virtual  community and games,its profib model are rental of virtual land, membership fee, Exchange fee of virtual goods. ect. One Chinese SNS website named â€Å"Kaix in†,its profit model are advertising,virtual money to buy game tools. 6. Why has Tripadvisor been so successful in hotel reviews? Why is it not known for restaurants even though it has user reviews on over half-a-million restaurants? 7. Can Tripadvisor replicate its success in China, vacation rentals and flights?If so, how would you prioritize them? So far, it is hard to say whether it is success in China or not. It has several challenges and competition is serious. * China is a huge potential market , but currently there are relatively small portion of population travel frequently, and most travel place are in China. International background is not the unique advantage. * Small portion people will choose online travel booking , most of them will rely on travel agency especially when they are going to travel abroad.When they travel in China,they are prefer to call the hotel for booking rather than online. As we know ,large amount of user are basis of UGC website. Without it, i t is hard to make profit. * There are more than 5 strong local competitors such as â€Å"qyer†,†mafengwo†in China market. These local competitors have the same business model with Tripadvisor but are more familiar with Chinese markets and Chinese travel habits So far ,these UGC travel website are all in the stage of attracting user to visit website and

Essay Eudaimonia and Human Flourishing - 1845 Words

Eudaimonia and Human Flourishing Aristotle describes three types of life in his search for human flourishing: lives of gratification, politics, and contemplation. He contends that there is a single Idea of Good that all men seek, and he finds that happiness, or eudaimonia, best fits his criteria. Aristotle investigates the human purpose to find how happiness is best achieved, and finds that a life of activity and contemplation satisfies our purpose, achieving the most complete happiness in us. Aristotle is correct regarding the necessity of activity, but restricts the theory to only the life of study. We will reject this restriction, and instead allow any life of virtue and productivity to substitute for Aristotle’s life of study.†¦show more content†¦Postulate 1: We have a gut feeling that some desires are not empty and futile. Granting him this postulate, we allow his conclusion 5. that there are some things we choose for their own sake. This satisfies Idea of Good Claim 1). Aristotle’s criteria for the Idea of Good are self-sufficiency and completeness. Regarding these criteria he says, â€Å"not all ends are complete. But the best good is apparently something complete. And so, if only one end is complete, the good we are looking for will be this end; if more ends than one are complete, it will be the most complete of these ends.† (Irwin 7) Aristotle has not given good reason why there must be only one end from which all actions are a means, rather than several such ends. At this point I will not contend with Aristotle if he can posit this singularity and avoid contradiction further into his theory. Postulate 2: There is only one Idea of Good. Aristotle explores and finds happiness to be the best fit for these criteria of the Idea of Good. We must pause for a moment to clarify the translation of eudaimonia, translated to â€Å"happiness† in the text. In Greek, eudaimonia translates to â€Å"living well† or â€Å"doing well†, â€Å"Happiness is the complete end [†¦] [one’s] complete happiness depends on himself, and not on external conditions.† (Irwin 333) Regarding happiness as the single Idea of Good Aristotle says, â€Å"Now happiness, more than anything else, seems complete withoutShow MoreRelated Aristotle and the Doctrine of the Mean Essay1436 Words   |  6 PagesDoctrine of the Mean Aristotle seeks flourishing happiness in life. He believes that this can be achieved for each individual through the embracement of virtues. Aristotle believes that virtues are the mean of two vices. This is the basis of the Aristotelian â€Å"Doctrine of the Mean†. This paper will explore the basis of the Doctrine of the Mean, its connections to Eudaimonia, and its success or lack thereof. Eudaimonia is a Greek word whose meaning can be translated severalRead MoreAristotle Is A Good Life?1211 Words   |  5 Pagesconcept of â€Å"eudaimonia.† Simply defined, eudaimonia is, â€Å"happiness or flourishing.† However, Aristotle defined eudaimonia a little bit differently, he claimed that eudaimonia was reaching one s ultimate human good by living well and completing one’s ultimate goals (flourishing). The concept of Eudaimonia is thought to have been first alluded to in Aristotle’s work, â€Å"Nichomachean Ethics.† It was then that Aristotle began to question the meaning of life. What is the purpose of human existence?Read MoreThe Purpose Of Friendship1304 Words   |  6 Pagessignificant value in friendship and find it to be beneficial to the flourishing of oneself for man is a social creature, but as many years pass, only a few contemporary philosophers focus their work on friendship. In this paper, I will establish what friendship is, explain the various forms of friendship, interpret the value and benefits of having friendships and, finally, I will argue why friendship is necessary for eudaimonia. To first understand the importance of friendship, we must establishRead MoreThe Ethics Of Virtue Ethics1502 Words   |  7 Pagesdo in the same situation. Eudaimonia is a very important term in virtue ethics, as that is what one is searching for. Eudaimonia can lightly be translated as happiness, but it goes much deeper than that. Another way to put it would to be happiness from inside, that comes from being a certain kind of person. Like people say, money cannot buy happiness, virtue ethics agress. Eudaimonia comes from leading a virtuous life. It can be best translated as human flourishing. Virtues are good character traitsRead MoreThe Role Of Happiness . â€Å"Happiness Is The Meaning And The1326 Words   |  6 Pagesthe purpose of life, the whole aim and end of human existence† (Aristotle). In ethics, we study the place of morality in a social construct, where happiness is the core of ethical concern. Happiness for the individual, happiness for the majority, happiness for nature. What is the key to a happy life? Aristotle believes the key is eudaimonia, or a state of having a good soul or being in a contented state of bein g healthy, happy, and prosperous. Eudaimonia is often used to refer to the right actionsRead MoreAristotle s The Best Benefits For Human Beings946 Words   |  4 Pagesits own function, including human beings. By fulfilling that function in an excellent way, one can achieve Eudaimonia. The idea later becomes to be known as the Ergon argument. This paper is intending to argue for the ergon argument. Aristotle enquires the best benefits for human beings. First, he starts by saying that everything in natures has its own function. For example: the hammer’s function is to hammer the nail, or a tree’s function is to grow effectively. Human being is not an exception.Read MoreAristotle Virtue Ethics Summary1075 Words   |  5 PagesAristotle outlined his theory of Virtue Ethics in his book Nicomachean Ethics. Aristotle focused his idea of ethics on agents rather than acts. His main idea is focused on the idea of human character- how can you be a better person? In fact, Aristotle once said: â€Å"For we are enquiring not in order to know what virtue is, but in order to become good, since otherwise our enquiry would be of no use.† Aristotle is given the credit for developing the idea of virtue ethics, but many of Platos cardinalRead MoreWhat Is Human Flourishing And Why Should We Care? Essay1874 Words   |  8 PagesWhat is human flourishing and why should we care ? We, as humans in a modern culture, have lost touch with the art of human flourishing which was once described to us by Aristotle. Modern culture humans are no longer practicing human flourishing because society considers it to be too time consuming. There is a phenomenon in our current society that humans need to be busy to be successful. However, this is not the case. Without human flourishing, human advancement is hindered. Human flourishingRead MoreAristotles Theory of the Good Life968 Words   |  4 PagesAristotle develops a theory of the good life, also known as eudaimonia, for humans. Eudaimonia is perhaps best translated as flourishing or living well and doing well. Therefore, when Aristotle addresses the good life as the happy life, he does not mean that the good life is simply one of feeling happy or amused. Rather, the good life for a person is the active life of functioning well in those ways that are essential and unique to humans. Aristotle invites the fact that if we have happiness, weRead MoreThe Well Being Aristotle And Human Happiness1000 Words   |  4 PagesOur Well-Being: Aristotle and Human Happiness What is the purpose of a human being? â€Å"Happiness is the meaning and the purpose of life, the whole aim and end of human existence† (Nicomachean Ethics). When one thinks about happiness, these words said by Aristotle allow us to understand its significance. Through Aristotle’s teachings, he made it clear that the point of life is to be happy. Aristotle uses the word happiness as having to do with a person’s life as a whole, and not as the constant desire