Analyzing the impact of brand resonance on consumer purchase intentions for fast moving consumer goods: an empirical study
DOI:
https://doi.org/10.56294/sctconf2024912Keywords:
Brand Resonance, Brand Equity, Brand Engagement, Fast Moving Consumer Goods, Purchase IntentionAbstract
In the dynamic and highly competitive landscape of the Fast-Moving Consumer Goods (FMCG) industry, a multitude of companies are in a constant race, each one striving to outdo the others. This paper aims to delve deeper into the role of brands within this context. It seeks to explore and understand the significance of brands and how they can be leveraged to succeed in the FMCG sector. An extensive examination of the prevailing studies regarding this topic unveils a distinct void in research, especially regarding the notion of brand resonance. Despite its importance, there seems to be a lack of comprehensive research on this topic. It seeks to understand what elements play a crucial role in creating brand resonance and how it, in turn, impacts consumer purchasing decisions. To achieve this, the study employs a quantitative research approach. Data was collected through structured questionnaires, designed to gather relevant information from the respondents. The collected data was then analyzed using robust statistical tools. Confirmatory Factor Analysis (CFA) served to validate the measurement model, while Multiple Regression Analysis was utilized to grasp the connections among the variables. The findings of the study suggest a favourable correlation between brand resonance and intentions to purchase. These findings offer valuable insights for marketers operating in the FMCG sector. Understanding the factors that contribute to brand resonance can help them devise effective branding strategies, ultimately leading to increased sales and market share. Moreover, the study proposes potential paths for future investigation in this domain, thereby enriching the current understanding of the subject matter
References
1. Ahmad B, Akbar MI. Validating a multidimensional perspective of relationship marketing on brand attachment, customer loyalty and purchase intentions: a serial mediation model. Journal of Strategic Marketing. 2023 Apr 3; 31(3): 669-692. https://doi.org/10.1080/0965254X.2021.1969422
2. Ali A, Sherwani M, Ali A, Ali Z, Sherwani M. Investigating the antecedents of halal brand product purchase intention: an empirical investigation. Journal of Islamic Marketing. 2021 Sep 2; 12(7): 1339-1362. https://doi.org/10.1108/JIMA-03-2019-0063
3. Anderson JC, Gerbing DW. Structural equation modeling in practice: A review and recommended two-step approach. Psychological bulletin. 1988 May; 103(3):411-423. https://doi.org/10.1037/0033-2909.103.3.411.
4. Balakrishnan BK, Dahnil MI, Yi WJ. The impact of social media marketing medium toward purchase intention and brand loyalty among generation Y. Procedia-Social and Behavioral Sciences. 2014 Aug 25; 148: 177-185. https://doi.org/10.1016/j.sbspro.2014.07.032
5. Becerra PE, Badrinarayanan V. The influence of brand trust and brand identification on brand evangelism. Journal of Product & Brand Management. 2013 Aug 19; 22(5/6):371-183. https://doi.org/10.1108/JPBM-09-2013-0394
6. Beyene F, Negash K, Semeon G. Faster billing mechanism for super market purchases. International Journal of communication and computer Technologies. 2023 May 20; 11(1): 27-34.
7. Chakraborty U. The impact of source credible online reviews on purchase intention: The mediating roles of brand equity dimensions. Journal of Research in Interactive Marketing. 2019 Jun 6; 13(2): 142-161. https://doi.org/10.1108/JRIM-06-2018-0080
8. Chang HH, Liu YM. The impact of brand equity on brand preference and purchase intentions in the service industries. The Service Industries Journal. 2009 Dec 1; 29(12): 1687-1706. https://doi.org/10.1080/02642060902793557
9. Erciş A, Ünal S, Candan FB, Yıldırım H. The effect of brand satisfaction, trust and brand commitment on loyalty and repurchase intentions. Procedia-Social and Behavioral Sciences. 2012 Oct 12; 58: 1395-1404. https://doi.org/10.1016/j.sbspro.2012.09.1124
10. Eyerinmene Friday J, Zaccheaus Godfrey V. Perception of and Attitude to Marketing of Library and Information Products and Services by Librarians in Public University Libraries in Bayelsa and Rivers States of Nigeria. Indian Journal of Information Sources and Services, 2023; 13(1): 39–48.
11. Farzin M, Fattahi M. eWOM through social networking sites and impact on purchase intention and brand image in Iran. Journal of Advances in Management Research. 2018 Mar 7; 15(2): 161-183. https://doi.org/10.1108/JAMR-05-2017-0062
12. Febriyantoro MT. Exploring YouTube Marketing Communication: Brand awareness, brand image and purchase intention in the millennial generation. Cogent Business & Management. 2020 Jan 1; 7(1): 1787733. https://doi.org/10.1080/23311975.2020.1787733
13. Fornell C, Larcker DF. Evaluating structural equation models with unobservable variables and measurement error. Journal of marketing research. 1981 Feb; 18(1): 39-50.
14. Foroudi P, Jin Z, Gupta S, Foroudi MM, Kitchen PJ. Perceptional components of brand equity: Configuring the Symmetrical and Asymmetrical Paths to brand loyalty and brand purchase intention. Journal of Business Research. 2018 Aug 1; 89: 462-174. https://doi.org/10.1016/j.jbusres.2018.01.031
15. Hair Jr JF, Black WC, Babin BJ, Anderson RE. Multivariate data analysis. In Multivariate data analysis. 2010.
16. Huang PY, Wang CC, Tseng YY, Wang RJ. The impact of brand equity on customer's purchase intention–Taking perceived value as a moderating variable. Journal of Information and Optimization Sciences. 2011 May 1; 32(3): 657-672. https://doi.org/10.1080/02522667.2011.10700078
17. Husain R, Ahmad A, Khan BM. The impact of brand equity, status consumption, and brand trust on purchase intention of luxury brands. Cogent Business & Management. 2022 Dec 31; 9(1): 2034234. https://doi.org/10.1080/23311975.2022.2034234
18. Hussain K, Fayyaz MS, Shamim A, Abbasi AZ, Malik SJ, Abid MF. Attitude, repurchase intention and brand loyalty toward halal cosmetics. Journal of Islamic Marketing. 2024 Jan 23; 15(2): 293-313. https://doi.org/10.1108/JIMA-08-2022-0210
19. Khan Z, Khan A, Nabi MK, Khanam Z, Arwab M. The effect of eWOM on consumer purchase intention and mediating role of brand equity: a study of apparel brands. Research Journal of Textile and Apparel. 2023. https://doi.org/10.1108/RJTA-11-2022-0133
20. Kim KM, Nobi B, Kim T. CSR and brand resonance: The mediating role of brand love and involvement. Sustainability. 2020 May 19; 12(10): 4159. https://doi.org/10.3390/su12104159
21. Latif WB, Islam MA, Mohamad MB. Antecedents of brand image: A conceptual model. Australian Journal of Business and Economic Studies. 2015 Mar; 1(1): 95-100. https://www.researchgate.net/publication/274065518
22. Moreira AC, Fortes N, Santiago R. Influence of sensory stimuli on brand experience, brand equity and purchase intention. Journal of Business Economics and Management. 2017 Jan 2; 18(1): 68-83. https://doi.org/10.3846/16111699.2016.1252793
23. Rambocas M, Ramsubhag AX. The moderating role of country of origin on brand equity, repeat purchase intentions, and word of mouth in Trinidad and Tobago. Journal of Global Marketing. 2018 Jan 1; 31(1): 42-55. https://doi.org/10.1080/08911762.2017.1388462
24. Raut UR, Brito PQ, Pawar PA. Analysis of brand resonance measures to access, dimensionality, reliability and validity. Global Business Review. 2020 Feb; 21(1): 162-175. https://doi.org/10.1177/0972150919846964
25. Rizwan S, Al-Malkawi HA, Gadar K, Sentosa I, Abdullah N. Impact of brand equity on purchase intentions: empirical evidence from the health takāful industry of the United Arab Emirates. ISRA International Journal of Islamic Finance. 2021 Dec 17; 13(3): 349-165. https://doi.org/10.1108/IJIF-07-2019-0105
26. Salehzadeh R, Pool JK. Brand attitude and perceived value and purchase intention toward global luxury brands. Journal of international consumer marketing. 2017 Mar 15; 29(2): 74-82. https://doi.org/10.1080/08961530.2016.1236311
27. Sinha S, Narayanan RSA. Noel Hybrid Lexicon Ensemble Learning Model for Sentiment Classification of Consumer Reviews. J. Internet Services Inf. Secur., 2023; 13(3): 16-30.
28. Sinha S, Narayanan RS, Mukherjee I. A Novel Multi-Layer Sparse Regularizer based GRU Model for Consumer Reviews Summarization. Journal of Wireless Mobile Networks, Ubiquitous Computing, and Dependable Applications. 2023; 14(1): 159-173.
29. Toldos-Romero MD, Orozco-Gómez MM. Brand personality and purchase intention. European Business Review. 2015 Aug 10; 27(5): 462-476. https://doi.org/10.1108/EBR-03-2013-0046
30. Vo Minh S, Nguyen Huong G, Dang Nguyen Ha G. The role of social brand engagement on brand equity and purchase intention for fashion brands. Cogent Business & Management. 2022 Dec 31; 9(1): 2143308. https://doi.org/10.1080/23311975.2022.2143308
31. Wang X, Yang Z. The effect of brand credibility on consumers’ brand purchase intention in emerging economies: The moderating role of brand awareness and brand image. Journal of global marketing. 2010 Jul 2; 23(3): 177-188. https://doi.org/10.1080/08911762.2010.487419
Published
Issue
Section
License
Copyright (c) 2024 R. Chakkaravarthy Kumaresan, Dr.S. Chandramohan (Author)
This work is licensed under a Creative Commons Attribution 4.0 International License.
The article is distributed under the Creative Commons Attribution 4.0 License. Unless otherwise stated, associated published material is distributed under the same licence.
