Previous studies on brand loyalty mostly have focused on either behavioral aspects or attitudinal aspects of customer loyalty spectrum. This study however examines the discrepancies between the customer loyalty formation process and consequences of true loyalty(TL) and spurious loyalty(SL). A phenomenological depth interview revealed that bases and determinants of brand loyalty differ depending upon the types of loyalty, and the consequences of TL and SL do not coincide. Customer satisfaction, perceived value, relational benefits, commitment, brand involvement, and trust were identified as core determinants of TL, whereas customer satisfaction, perceived value, customer characteristics, market characteristics contribute to the formation of SL. TL was found to have more tenacious effects on positive WOM, relationship intention, and resistance to competitive alternatives than SL.