The Impact of Brand Equity on Consumer Purchase Decision of Cell Phones (Published)
This research paper investigates the impact of brand equity on consumer purchase decision of cell phones. The research has highlighted the gaps found in many marketing efforts of cellular companies while presenting their market offerings to the target market. The research paper starts off by explaining what brand equity is, how it is built and then how it slowly and gradually ends up producing loyal and in-synced consumers, who will not switch to any other brand no matter what, simply because for them the brand has become their companion, which not only satisfies their needs but also helps them complete themselves. Therefore, it will assist the marketers to know such consumer insights and opinions of their target market, what they want and need and from a mobile brand, all these gaps have been identified in this study and it helps in setting out a strategic plan which will be very valuable for marketing professionals who want to increase the market share of their brand, because like Kevin Keller said that no matter what kind of the brand it is at any point of time it can become susceptible and vulnerable to poor brand management. In this study, Brand Equity is further divided into four elements, namely; Brand Association, Brand Awareness, Brand Quality and Brand Loyalty and thus how the combined role of all 4 elements influences and molds the purchase decision of consumers. A scientific review of literature has been done and questionnaires were distributed for data collection and Likert scale was designed to ask respondents about their insights and opinions and they were asked to rate them on a five point scale between strongly agree and strongly disagree. A sample size of 300 respondents has been chosen. The method of sampling selected is Simple Random Sampling, to test the data Correlation and Regression analysis has been done with the help of SPSS. The research paper takes into account 5 major players of cell phone brands in our country; Samsung, iPhone, HTC, Nokia and Q mobile.Brand savvy consumers have been surveyed only belonging to middle – middle, upper middle and upper class, covering limited area of Karachi and Lahore. The results found were that all the four variables strongly have an impact on consumer purchase decision of cell phones, the most significant being brand loyalty and brand association just by a slight difference. We can thus conclude that when consumers are attached and loyal towards a brand they are likely to do repeat purchases and this only happens when the relationship between the brand and the user is very in depth and has an emotional connection with the mobile brand. For this reason it has become very crucial for marketers that not only should they highlight the features and functional capabilities of the mobile while presenting their brands to their target market but also define what meaning the brands stands for and how it affects the relationship with the consumers. In short, a step by step process should be taken from defining who the brand is (brand awareness), to highlighting its points of differentiation and user profile (brand performance and brand association) by taking both the functional route (brand quality) and emotional route (brand feelings) so that the consumers can evaluate it positively and form a bond that will result in everlasting and unbreakable bond (brand loyalty) that moulds and influences their purchase decision.
Keywords: Brand Equity, Cell Phones, Consumer Purchase, Decision, Impact