Brand reputation and brand loyalty are two related but distinct aspects of a luxury brand’s performance, and they are inextricably linked. Brand reputation is how consumers perceive a brand and its products, services, or experiences. It is based on various factors such as product quality, brand heritage, pricing, advertising, corporate social responsibility, and customer service. A strong brand reputation helps attract new customers and enhances customer retention rates. For luxury brands like Rolls Royce and Rolex, reputation is essential …
Why Did Chanel, LVMH, Burberry and Hermès Lose Their Brand Reputations?Read More