| Abstract: | Using a multidimensional conceptualization and drawing on previous theoretical frameworks, this study identifies the dynamic relationships between consumer trust and product loyalty, and explores the mechanism, by which these constructs are formed. It further examines the nature and direction of the chain of effects related to the formation of consumer trust and loyalty and their links, all in the context of the core relationship between consumers and firms from the production to consumption, and back to production again. This analysis implies that blind consumer loyalty to a product may lead to the elevation of producer's power and give a blank card for setting prices, adjusting quality and altering services, and ultimately reversing consumer sovereignty. The analysis also implies that consumer satisfaction domain spans much more over and beyond the consumption of a product and the consumer–firm relationship extends way beyond having the product and paying for it. |
