Brand Loyalty and Store Loyalty For Consumers Purchasing A Product Warranty In A Health Care Setting: An Investigation of The Differences Across Gender, Age, and Income Groups

Abstract

The product warranty plays an increasingly important role in today’s highly competitive marketplace. The use of warranties is widespread, but their use has only relatively recently been applied in the health care sector. This study will look at the different levels of brand loyalty and store loyalty for respondents who were grouped by demographic characteristics. The demographics were divided into two groups: male/female, high income/low income, and younger/older. The respondents consisted of 120 patients at a privately-owned and operated, single-outlet, retail optical center. The two groups were compared based on brand loyalty and store loyalty using independent-samples t-tests. The analysis revealed that younger patients who purchase the warranty are more brand loyal than older patients who purchase the warranty. Additionally, patients with higher incomes were significantly more store loyal than patients with lower incomes.