This paper assesses a method that enables market researchers to provide a comprehensive understanding of what determines consumer loyalty (or absence) in a product category. The proposed approach assumes that the individual characteristics of personality and market perceptions of each person must be considered when studying loyalty. The ratio between these two forces could be revealed on a different basis in the decision made by each individual.From the analysis of this composition in a sample representative of such a market, we can infer the predominant tendencies for future market behaviour. The case histories of the mobile phone markets in Brazil, Mexico and Venezuela have shown the higher importance of the emotional relationship with brands rather than the functional aspects of the products to consumers for differentiating and creating value to the brands. Actually, both sides influence each other. However, individual characteristics play the most important role for loyalty behaviour, being more significant than the perceptions of the value of each brand.