Impact of social-media marketing, price and perceived quality on brand loyalty amongst generation Y (Millennials) customers, a developing country perspective

Abstract

This study investigated the impact of social media marketing, price, and brand loyalty among generation Y consumers (millennials). It's based on secondary research, and the first chapter outlines its rationale. The study's background, problem statement, research purpose, and importance are discussed. The literature focuses on how perceived quality, pricing strategy, and social media marketing affect brand loyalty among generation Y consumers in Bangladesh. A literature review finds that businesses are losing current consumers, and that this trend is especially pronounced among companies dealing with Generation Y clients, who have unique traits such as the capacity to synthesize weaker bonds to objects. It has been shown that younger customers are the most economically active and engaged consumers. This sector has a strong affinity for certain brands and is willing to spend more to support them. This generation gives considerable weight to how others view a brand's image. They are pioneers in the adoption of novel marketing strategies as a result. As a result of their broad access to social media, millennials have become more discerning customers. Generation Y is more concerned with the aesthetics and quality of a product than prior generations. However, the present research does not conclusively establish that social media marketing may be used to improve brand loyalty among millennials in Bangladesh and elsewhere. Methodology emphasizes secondary data sources like Google forms and offline surveys. After evaluating online and offline data, 178 respondents were utilized to assess a person's connection between factors using SPSS software. The descriptive study and conclusions showed a substantial association between pricing, perceived quality, social media marketing, and brand loyalty. The influence of social media marketing, cost, and perceived quality on Brand loyalty among generation Y in Bangladesh is discussed. This research will help specialists, practitioners, and academics. Overall, the study's findings, limitations, and future research recommendations were given.