Impact of Brand Equity on Purchase Intention of Smartphone

Abstract

Brand equity is the value added to a product that helps it stand out from rivals in the market. It serves as a competitive tool for the producers, aiding in consumer preference and brand loyalty as well as enhancing customer purchasing intents. This study aimed to investigate the effect of brand equity aspects on smartphone purchasing intentions in Sri Lanka. The study also looked into the relationship between the four components of brand equity—brand loyalty, brand awareness, brand association, and perceived quality—and the customers’ purchase intention. Data were gathered from a convenience sample of 100 smartphone users of the private bank employees in Batticaloa district to fulfil this study’s aim. The study employed a descriptive and causal research design. Data were collected using structured questionnaires. This study examined the significant relationship between Brand Equity (BE) and Purchase Intention (PI). Results showed that all brand equity parameters impacted the purchase intention of smartphones. The study concludes that the dimensions of brand equity are the key factors affecting customers’ buying propensity. This implies that brand equity and its components influence a consumer to choose a brand with higher value when considering the market environment. In order to boost industrial users, which leads to increased product consumption and purchase frequency, marketers must strengthen their brand equity.