Typically a consumer will go to the store and reach for a brand. If the consumer grabs the same brand repeatedly, this is almost always habitual buying, not brand loyalty. In these scenarios the consumer's buyer behavior doesn't go through the normal belief-attitude-behavior sequence.
What is 'Liability' A liability is a company's financial debt or obligations that arise during the course of its business operations. Liabilities are settled over time through the transfer of economic benefits including money, goods or services.
noun. Liability is defined as the state of being responsible for something or something that someone is responsible for. 1  An example of liability is a person having to pay back student loans. 2  An example of liability is payment for a car accident.