While marketers have long viewed brands as assets, the real asset is brand loyalty. A brand is not an asset, brand loyalty is the asset. Without the loyalty of its customers, a brand is merely a trademark, an ownable, identifiable symbol with limited value. The main difference between these two loyalty types is that customer loyalty revolves around customer spending, and brand loyalty is all about customer perception. Customer loyalty can be formed by having lower prices than competitors or better discounts and rewards programs.

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