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association is what the brand is known for in the consumers mind.
Loyalty is whether that association is important and strong enough for the consumer to think of your brand and buy your brand always when the need arises.
Brand loyalty is when the user is not even looking at the other options available to him/her except for the brand to which he/she is loyal to.
Brand association benefits help us process and retrieve information, differentiate brand, offer a reason for buying, create positive feelings and attitudes and support brand promotion and development.
So the difference is that one is PROCESS & the other (Brand Loyalty) is the the OUTCOME.