Abstract
<p><em>The purpose of this study is to identify factors (brand elements) that mediate between Millennials and brand loyalty, and to test a theoretical model that includes these mediating factors in describing the relationship between millennials and brand loyalty. The study focused on the key factors that we identified and hypothesized to mediate the relationship between millennials and brand loyalty. The quantitative study surveyed two hundred and fifty-three (n=253) respondents randomly drawn. Structural Equation Modelling (SEM) was used to test a model of the relationship between the mediating factors, millennials and brand loyalty. All model fit parameters were well within acceptable bounds. The Comparative Fit Index (CFI) was 0.999, Root Mean Square Error of Approximation (RMSEA) was 0.018, and Standardized Root Mean Square Residual (SRMR) was 0.022. However, we believe that the model is over-fitting the data, and this is not surprising given that there are 22 variables and 253 data points. These results show promise, but require further investigation in a second phase of the inquiry. This study limited itself to surveying millennials, brand loyalty, and the seven mediating factors we identified and hypothesized to play a role in mediating between them. Based on this study, brand management strategies are proposed.</em><em></em></p>
Highlights
Brand loyalty is a fundamental element in increasing marketing performance
This study provides support for the conceptual model proposed in Figure 1, which contains seven factors that we propose mediate between millennials and brand loyalty with the exception of the repeat purchase and use of advertisements factors for which we did not find significant support
Our findings should be of interest to managers who wish to implement brand management strategies that aim to enhance the degree of brand loyalty of millennials and organizational success
Summary
Brand loyalty is a fundamental element in increasing marketing performance. Millennials have been a significant market segment for brand managers due to recent surpass of other clusters in the entire population according to latest reports from the government sources, including bureau of census and statistics. Scholars have established that brand managers should consider all elements that make up a complete brand in building brand loyalty (DeVaney, 2015; Caraher, 2015; Safer & Textor, 2007; Oliver, 1999; Morgan & Hunt, 1994; Lotfizadeh, 2015; Sproles & Kendall, 1986; Jacoby & Kyner, 1973; Hawkins & Vel, 2013; Dick & Basu, 1994; Beneke, 2013; Alamro & Rowley, 2011; Von Freymann, 2006; Luce, Bettman, & Payne, 2001; Brakus, 2009; Chaudhuri & Holbrook, 2001; Liu-Thompkins, 2013) These elements are Repeat Purchases (RP), Superior Service (SS), Use of Advertisements (UA), Customer Trust (CT), Use of Social Media (USM), Quality Products and www.scholink.org/ojs/index.php/jbtp. Given that all of these mediators are central to most brand-related marketing communication, the insights of this study will help brand managers understand the impact of marketing communication goals on brand loyalty, especially targeting Millennials, and overall marketing performance
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