Self-study 2 Norbo’tayev Jamshid sbi 51 Task Vocabulary Ex 1

Task 4. Writing.
Are you loyal to particular brands? Or are brands not important to you? Write your opinion (about 150-200 words)
Customer Loyalty vs. Brand Loyalty: Why They Matter For Customer Retention and Repurchase Rates
Though closely linked, brand loyalty and customer loyalty are actually two very different concepts. While different, they both directly impact customer retention and repurchase rates
What Is Customer Loyalty?
Customer loyalty mainly relates to the overall spending power of consumers. It’s about what you can offer them in terms of regular prices and money-saving offers. In other words, customer loyalty relates to those consumers that keep coming back to your store. It’s about having lower prices than competitors or better discounts for specific products they’re looking for.
Do You Have a Loyalty Program?
If you don’t, then it’s time to seize the day! With the future demise of the third-party cookie, loyalty programs can provide a whole new level of value, in the form of zero-party data. You can reward the customer with points, badges, or special offers directly through your program, and boost your ability to deliver a highly personalized customer experience.
What Is Brand Loyalty?
Brand loyalty, on the other hand, has very little to do with prices or money. Brand loyalty has everything to do with how consumers perceive your brand. This may be through promotional activities, reputation, or previous experiences with your company. Consumers are loyal to a brand because they believe you offer a better service and higher quality than anyone else. This happens regardless of pricing.
A brand-loyal customer is also more likely to try out other products from the brand. These products might even be slightly more expensive. However, consumers on the customer loyalty end of the spectrum will certainly shop around if your prices go up to an unacceptable level or if you stop making efforts to engage them.

Task 5. Make a presentation on the topic: Brands – Made in Uzbekistan!