Definition
Brand preference is strongly linked to brand choice that can influence the consumer decision making and activate brand purchase. "Brand Preferences can be defined as the subjective, conscious and behavioural tendencies which influence consumer’s predisposition toward a brand". Understanding the brand preferences of consumers’ will dictate the most suitable and successful Marketing Strategies.One of the indicators of the strength of a brand in the hearts and minds of customers, brand preference represents which brands are preferred under assumptions of equality in price and availability.
Contents
Measures of brand preference attempt to quantify the impact of marketing activities in the hearts and minds of customers and potential customers. Higher brand preference usually indicates more revenues (sales) and profit, also making it an indicator of company financial performance.
Construction
There are at least three classes of methodologies to measure brand preference directly: