Abstract
Today consumers’ demands and choices of products or services are constantly changing rapidly in the internet environment of information technology. The markets emphasize quality, service, and customization, which has been changing the consumption patterns in the decision-making process or companies’ production patterns. The enterprises are essential to respond the changes of the consumption side and production side in order to achieve sustainable development. Moreover, it is important to focus on the relationship of interaction with consumers. This study was intended to explore the influence of brand as symbol on consumer behavior to understand the relations between brand as symbol, perceived transaction value, perceived acquisition value, message-response involvement, and customer loyalty. The empirical analysis is performed by using Structural Equation Modeling (SEM), including measurement and structural models. The measurement models are examined with Confirmatory Factor Analysis (CFA) to identify the relations between latent variables and observed variables whereas the structural models are used to find out the relations between latent variables. Meanwhile, path analysis is adopted to understand the influence between the variables. A questionnaire survey was carried out on customers of chain beverage stores in the Chiayi area through convenient sampling 400 copies were administered and 387 valid samples were retrieved. The response rate was 97%. The results indicate that brand as symbol has significant positive influence on perceived transaction value, perceived acquisition value, and customer loyalty. This means brand as symbol alone can have an effect on customer loyalty and will not be influenced by the level of message-response involvement. This conclusion can be applied to help brand managers to establish close relations with consumers when performing brand design.
Highlights
Today, brand management has become an important direction in management development for enterprises around the world
The questionnaire in this study is designed in reference to the study by Grewal et al [19], including three questions associated with perceived transaction value and nine with perceived acquisition value, to measure the perceived acquisition value and perceived transaction value of consumers
Before the questionnaire survey was officially administered, a preliminary test was carried out to ascertain whether the semantics and questions of the questionnaire were appropriate and make necessary revisions and adjustments to finalize the questionnaire. 100 copies of questionnaire were administered for the preliminary test and the Cronbach’s α was adopted to test the internal reliability of each dimension
Summary
Brand management has become an important direction in management development for enterprises around the world. For the sustainable development of enterprises, it is necessary to understand the change in the consumption side and production side, and more focused on the relationship of interaction with consumers. Symbols are important elements in brand management and image building. Brand symbol design is extremely important because it sets the direction of management. In related studies conducted in the past, most researchers [9,10,11] focused on brand image, brand equity, and brand personality. It is few worked on brand symbols. This study is principally intended to discuss and understand the influence of brand symbols on consumer behavior and to offer the results as references for brand designers and managers
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