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Abstract
Keeping customers and retaining their loyalty is considered critical for maintaining business in today's highly competitive markets. Organisations need to look for various marketing strategies in order to improve their customers' loyalty. organisations needs to master the art of using marketing mix elements to improve the brand loyalty for the success of the companies, Spatially when product is generic in nature and possibility of very little product differentiation. The purpose of this study was to analyze the impact of marketing mix elements on brand loyalty. The present study is applicable in terms of objective and descriptive survey for data collection. To evaluate the model and hypotheses, data collection was carried out through surveying 489architects and builders in nine different locations of south India. For data analysis and verification of the model, structural equation modelling approach (SEM) and confirmatory factor analysis (CFA) were used and based on the results of the path analysis; the relationship between the variables in the model is investigated. Results indicated that there is a positive impact of product adds on features, warrantee, service elements, price on perceived quality and country of origin element, distribution network on brand loyalty. Also, the findings showed that perceived quality and brand loyalty resulted in positive WOM, through which companies will get business growth with low or nil expenses on product promotion.
Keywords: marketing mix elements, brand equity, wom, coo, construction industry
Introduction
In today's competitive market conditions, in view of digital and global economy, It is becoming difficult for the marketers to retain the customers. Customers are well informed about various competitors and the customer's expectations are increasing day by day. It is always advisable to retain the existing customer and to increase their brand locality. A loyal customer is an asset to the organisation. He will promote the brand with a positive word of mouth. A positive word of mouth is an important marketing tool to bring new customers to our fold.
Organisation's objective is to establish long-term relationships with all its stake holders spatially with customers, so that more customers are retained and fewer will be lost. When we are successful in retaining existing customers, market share and organization profitability is guaranteed .Since most of the markets are at maturity, the...