To Study the Extent Social Media Helps in Creation of Consumer Brand Loyalty
The concept of social media is top agenda for all the business firms today. Marketing Executives, Researchers and Consultants all are trying very hard to find out the ways in which a brand can make maximum use of different social media platforms to attract and retain their customer base. The biggest challenge which a company faces in modern era of business is the brand loyalty. Building and keeping the brand loyalty is the main area of focus for the marketers for a long time. The main goal of this study is to empirically research the extent social media helps in creation of consumer brand loyalty. The data collection instrument was the questionnaire which was circulated among the 250 respondents who are registered on different social media platforms. This study uses the techniques like factor analysis, and linear regression analysis to derive the various factors which influence the consumer brand loyalty. In this research study consumer brand loyalty was taken as dependent variable which is influenced by various independent variables like Relationship building, Brand reputation and communication used by marketers on various social media platforms. The findings of this research study provide that social media has a very prominent role in creation of brand loyalty of consumers. The coefficient of determination (R2) is equal 0.439 which means 43.9% of the variation that occurs in consumer brand loyalty is described by all the independent variables together (Relationship building, brand reputation, and communication). The geographical area covered in this research study was Delhi NCR region. The findings of the study will be very helpful for the researchers or marketers who are working in the field of developing and implementing different social media-based marketing strategies to maintain and create the brand loyalty of consumers.
Keywords - Consumer, Brand Loyalty, Factor Analysis, Regression Analysis, Social Media.