Young consumers' insights on brand association, brand awareness, perceived quality, brand image, brand loyalty and brand equity

Abstract

Brands try to capture young consumers as they are early adopters which help them to secure business for long term. The purpose of this study is to examine the effects of brand association, brand awareness, brand image, perceived quality and the mediating effect of brand loyalty on brand equity among young consumers and their direct relationship with brand equity. Data from 75 young consumers were analysed using an open-source software named Jamovi and PLS-SEM. Empirical results via Correlation and Multiple regression authenticated that direct relation was insignificant for all the variables except perceived quality but most variables were significant in indirect relationship with brand loyalty as mediator. Overall, the model was an average fit. Perceive quality predominantly affects brand loyalty, which in turn has a significant impact on brand equity. These findings imply to marketing professionals and practitioners to aid them develop marketing strategies to amplify brand equity and gain a competitive edge to foster their business.