Impact of Brand Association, Brand Image &amp; Brand Loyalty on Brand Equity

Muhammad Habib Dada

doi:10.52633/jms.v3i1.33

Abstract

The most important determinants of brand equity are brand image and brand loyalty. These critical elements affect the customer’s thought processes and build up their perception of the brand. The main objective of this research study is to investigate the critical association between brand association, brand image and loyalty and how they impact brand equity. In order to achieve research intentions, a model reflecting the effect of brand association, brand image and brand loyalty on brand equity was conceptualized. Hypotheses were formulated to assess the relationship between the variables and their impact on the dependent variable. The study adopted a quantitative approach and data were analyzed through structural equation model SEM to assess the correlation. The study findings demonstrate that brand associations, brand loyalty and brand image have a positive effect on brand equity. The study provides brand managers with key insights to enrich the equity of their brands.

Highlights

The brand equity concern in marketing is discussed widely and is one of the main marketing tools for the firms to set the standards in the market and to maintain those standards, firms need to capitalize and increased its brand equity on regular basis
The main purpose of the organizations to focus on the Brand Equity is to check how it is important for the firms and how Brand Association, Brand Image and Brand Loyalty influence the Brand Equity as it did in the past
The findings say that out of three independent variables, only Brand Loyalty has the significant and positive relationship with Brand Equity compare to the rest of two

Summary

Introduction

The brand equity concern in marketing is discussed widely and is one of the main marketing tools for the firms to set the standards in the market and to maintain those standards, firms need to capitalize and increased its brand equity on regular basis. This topic is focused on the Brand Equity and how its effect with the other independent variables. Journal of Marketing Strategies, Volume 3, Issue 1, January 2021 Brand Equity (Jayswal & Vora, 2019) For every firm, this is the core objective to increase the Brand Value and firms continuously engaged to increase the brand image in the market. They believe the actual problem is the difference in quality between the one that displayed on the website and the other that is delivered to the consumer and the ideal condition is that they see the product in web is as it as they received

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Conclusion