A relationship between preferences for product attributes and brand equity and purchase intention.

A strong brand is one of the most valuable assets that a firm can have, and proper management of brand equity is essential for businesses. The purpose of this project is to study the relationship between consumer preferences for a branded product’s attributes and its brand equity, and to examine how they affect consumer purchase intentions. We conduct our study within the context of the mobile phone industry because it is a popular product that most consumers will be familiar with. We collected data for our study using an online survey. Prior to conducting the main survey, we did a pilot test to select the appropriate group of product attributes and mobile phone brands that will be included. We then carried out a pre-test to further improve the readability and understanding of the questions stated in the survey as well as to assess the reliability of the scales we have chosen. We obtained 208 usable responses for the main survey after data cleaning and analyzed the data using multiple regressions. Our findings suggest that preferences for product attributes have a positive impact on brand equity, particularly for connectivity and power supply of mobile phones. We also find that consumer demographics, especially gender can moderate the relationship between product attributes and brand equity. Furthermore, our findings suggest that there is a positive relationship between preferences for product attributes and purchase intention. And consistent with the literature, our results show that high brand equity does indeed lead to higher purchase intentions, with brand loyalty being the most important brand equity dimension affecting purchase intention. Our study can help marketers and businesses to better manage their brand equity and reach out to their consumers more effectively by developing more effective product and branding strategies.BUSINES