Abstract
In today`s competitive business environment, packaging and brand equity provide a competitive advantage to a firm which may increase and maintain its market share. However, the role of packaging in supporting the brand equity is relatively new in the over-the-counter pharmaceutical market and currently, there is a lack of empirical research to uncover its significance in this product segment. This paper seeks to investigate the impact of packaging on brand equity through the mediating effect of dimensions of brand equity in the over-the-counter drug market in Kumasi metropolis. Based on Aaker`s customer-based brand equity model, eight hypotheses were formulated and tested through structural equation modelling. Using systematic sampling, data was collected through survey questionnaires from a sample of 348 consumers who patronize in herbal medicines from herbal stores in Kumasi Metropolis. The study found that packaging significantly contributes to support brand equity of plant medicines through the mediating effect of brand awareness, brand association and brand loyalty. These results indicate that brand managers in the plant medicine industry need to consider packaging as an important brand-building tool in their marketing strategy to enhance brand equity in the over-the-counter pharmaceutical market. This will enh0ance their competitive distinctiveness in the over-the-counter market.
Highlights
Over the years, over-the-counter (OTC) medications have played a crucial role in health care delivery across the world
The findings reveal that test items of packaging, brand equity, brand awareness, brand loyalty, brand association and perceived quality had Cronbachs alpha values above the acceptable cut-off of 0.70 which ranged between 0.724 and0.857, showing good internal consistency reliability (Nunnally, 1975; Tavakol & Dennick, 2011; Hair et al, 2010)
Based on the Results of the Study, the Following Recommendations are made: The study revealed that packaging contributes to enhance brand equity through the mediating effect of brand awareness, brand association and brand loyalty in the OTC health market
Summary
Over-the-counter (OTC) medications have played a crucial role in health care delivery across the world. Herbal medicines are often used as OTC medication (WHO, 2011; Essegbey, Awuni, Essegbey, Akuffobea, & Mica, 2014; WHO, 2005) and are bought to combat minor sickness, chronic ailments, maintain fitness or health (Samojlik, cited by Naresh & Reddy, 2016). Empirical research shows that nearly 70– 95 % of the people living in less developed countries rely on medicinal plant products to satisfy their primary health care needs (WHO, 2011). 80% of the population in Ghana use plant medicines for their basic health care needs (UNDP, 2007). Most of the plant medicines produced in Ghana are packaged and sold at pharmacies, chemistsshops and herbal shops (WHO, 2011; Essegbey et al, 2014). In the OTC product market, medicines are usually bought without a prescription, and consumers buy a product on their own initiative and all the roles with regard to the decision-making process and consumption of products are performed by the end-user similar to fast moving consumer goods market (Dickov, 2012; Kim & King, 2009)
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