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1 January, 16:43

How are brand loyalty, specialty goods and services, and prestige pricing related?

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  1. 1 January, 17:08
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    Brand loyalty has a lot to do with specialty services and prestige pricing as the more these things are prominent, more the loyalty to the brand.

    Explanation:

    In general, the brands that have a loyal follower base are the ones that have a lot of specialty services that are not offered much by their competition or that they have monopoly on the type of the product.

    It is also dependent on prestige pricing.

    When a brand has a big name, it might have exorbitant high costs that will be paid because they are the price of prestige that the people pay only because they want the name of the brand.

    These two things make a company have more brand loyalty.
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