Which of the following is one reason that a brand may not want to get rid of a product that isnt meeting goals
making high sales
attachment to the products
no other products
consumer loyalty
attachment to the products
One reason that a brand may not want to get rid of a product that isn't meeting goals is consumer loyalty.
One reason that a brand may not want to get rid of a product that isn't meeting goals is consumer loyalty. Consumer loyalty refers to the trust and preference that customers have for a particular brand or product. Even if a product is not performing well in terms of meeting sales goals, it is possible that it still has a loyal customer base.
To understand this reasoning, it is important to consider the concept of consumer behavior. Consumers often form emotional attachments to certain brands or products based on their previous positive experiences or personal preferences. This emotional attachment can create a sense of brand loyalty, where customers stay committed to purchasing and supporting that brand, even in the face of other options.
A brand may choose to retain a product due to consumer loyalty because they know that they have a certain segment of customers who value and prefer that specific product. These loyal customers may continue to purchase the product, even if it is not meeting the brand's overall sales goals. Retaining the product can help maintain the loyalty of these customers and prevent them from switching to competitors.
Understanding consumer loyalty is often achieved through market research and analysis. Brands might collect customer data through surveys, interviews, or customer feedback channels to measure the level of attachment customers have to a specific product or brand. Additionally, monitoring sales data, repeat purchase rates, and customer satisfaction scores can also provide insights into consumer loyalty.
Overall, consumer loyalty is one reason why a brand may choose to keep a product that is not meeting sales goals. By retaining the product, the brand can maintain a dedicated customer base and potentially continue to generate revenue, even if the product's overall performance is not meeting expectations.