When shopping for clothing such as shirts and jeans,Tyrone will only buy products sold by the Eastern Clothing Company,even if other brands are cheaper.Eastern Clothing Company has _____ with Tyrone.
A) switching costs
B) bargaining power
C) risk of entry
D) brand loyalty
E) economies of scale

Question

Quizplus · Accepted Answer

Tyrone exhibits brand loyalty, which is a consumer's commitment to a particular brand demonstrated by repeated purchases over time. He is willing to pay more for products sold by the Eastern Clothing Company because of his loyalty to the brand.

When Shopping for Clothing Such as Shirts and Jeans,Tyrone Will