The Role of Brand Equity And Brand Awareness on Consumers’ Purchase Intention
Journal Title: International Journal of Business and Management Invention - Year 2018, Vol 7, Issue 1
Abstract
This article presents a review about the role of brand equity and brand awareness on the purchasing intentions of the consumers or consumer choice process. The purpose of this paper is to elaborate the relation between the awareness of a brand and the intention of consumer of buying that brand. This has been done by going through different literature and articles by different authors. It will help the readers to come across the work done by various well known authors at one place. Marketers endeavor to reduce marketing expenses and increase sales. Their objective is to increase the efficiency of the marketing effort. They continuously look for the factors that increase marketing efficiency. Strong brands enjoying high brand equity can help managers to relish higher margins, greater customer loyalty. In order to keep track of the strength of their brands, managers need to able to quantify brand equity. As per Aaker, brand awareness consists of many levels. These levels are brand recognition, brand recall, top of mind, brand dominance, brand knowledge and brand opinion. As one moves from brand recognition to brand opinion, the brand awareness increases. Hence it will help to know how knowing a brand well will affect the consumer in making decision about buying a product.
Authors and Affiliations
Mr. Sanjaya Kumar Padhy, Dr. R. K. Sawlikar
Keywords
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