Does Brand Loyalty exist ?

That's a very interesting question, especially in a country like India. The Great Indian Middle class, always on the lookout for a bargain, is ready to switch brands at the slightest notion of 'enhanced value' from a competing brand.
Sure, this is so, if there are no other constraints, such as switching costs, etc,.
A recent research work done by one of my students showed shifting loyalties with a different flavour.
Among Company executives, everytime they took an airline trip and the company in question footed the bill, they preferred a particular or a few Airline brands. When they paid from their own pockets, it was a completely different take. They looked around for the best deal in terms of prices.

This raises an interesting issue. In a developing country like India, where disposable incomes, especially among the middle class though on the rise is not vey high, can brand loyalty exist ?
Interesting....