Impact of Brand Equity on Consumer Purchasing Intention with Special Reference to Franchised Food Industry

Abstract

Brand equity is recognized as a significant and key concept for any company or industry, supporting organizations in maintaining a favorable customer base. In the highly competitive franchised food industry, retaining customers is a considerable challenge. Numerous researchers have found that brand equity significantly influences customer buying decisions. As highlighted in empirical investigations, brand equity plays a crucial role in brand-related behavior. This survey was conducted to determine the impact of brand equity on consumer purchasing intention. The study empirically evaluated the interlink of five dimensions of brand equity: brand awareness, brand association, perceived quality, and brand loyalty. Primary data were collected through a questionnaire to examine the research objectives. The study's population was unknown, and data were gathered from 372 respondents using a convenience sampling method under the non-probability sampling technique. Hypotheses were tested using inferential statistical tools, in accordance with the assumptions, using the Statistical Package for Social Science (SPSS) version 26. The results indicated a positive and significant impact of brand equity on consumer purchase intention. Thus, brand equity critically influences how consumers purchase franchised fast foods. The conclusions of this study will significantly contribute to companies in the franchised fast foods market by aiding in the development of brand equity-related strategies, including marketing promotion methods. Managerial recommendations were provided, emphasizing emotional branding strategies within the context of brand equity.