Determinants of Brand Equity in Indian CarManufacturing Firms

Abstract

Brands have become increasingly important components of culture and the economy, now being described as cultural accessories and personal philosophies. Brand Building process is a value addition technique which projects the image of the product, the company and the country at large. To study the problem effectively, car industry is chosen taking into the account the emergence of many new brands of the car product in the recent past. The objective of the study is to describe the measuring Models of Brand Equity applicable to Car Industry. The results of the study show that brand preference and brand loyalty plays an important role in creating brand equity. These components of brand equity must be coherent in their actions so that consistent image of the firm is realized and value by customers. This paper gives an empirical outcome of the determinants of brand Equity with special reference to Indian Car Industry.