Factors influencing brand equity: Testing Aaker’s brand equity framework in Malaysian toy industry
-
DOIhttp://dx.doi.org/10.21511/im.20(1).2024.04
-
Article InfoVolume 20 2024, Issue #1, pp. 40-50
- 893 Views
-
218 Downloads
This work is licensed under a
Creative Commons Attribution 4.0 International License
Previous studies have demonstrated varying associations between fundamental components of brand equity within diverse sectors. The purpose of the current study is to examine the influence of Aaker’s brand equity model’s dimensions (brand awareness, brand loyalty, perceived quality, and brand association) on brand equity in the context of toy brands in Malaysia. The study employs a quantitative-based correlation design within a non-controlled setting, using a cross-sectional approach with individuals as the unit of analysis. The population consists of respondents from the general public aged 18 and above, as they are valid buyers of toys. Data collection was conducted using a non-probability sampling method. The questionnaire was sent to the targeted respondents using online Google Form links. A comprehensive dataset from 384 respondents was gathered for descriptive analysis of the demographic profile. Hypothesis testing was performed using regression analysis. The findings indicate that, except for brand associations, the remaining three factors – perceived quality (Beta = .377, p < .001), brand loyalty (Beta = .338, p < .001), and brand awareness (Beta = .221, p < .01) – exhibit a statistically significant positive correlation with the brand equity of children’s toy brands in Malaysia.
Acknowledgment
The authors thank INTI International University, Malaysia, for providing financial support to publish this paper.
- Keywords
-
JEL Classification (Paper profile tab)L10, L21, M10, M31
-
References73
-
Tables5
-
Figures0
-
- Table 1. Respondents’ profile
- Table 2. Components of the questionnaire
- Table 3. Reliability analysis
- Table 4. Model summary
- Table 5. Impact of specific predictors of brand equity
-
- Aaker, D. (1991). Managing brand equity. New York: The Free Press.
- Aaker, D. (1992). The value of brand equity. Journal of Business Strategy, 13(4), 27-32.
- Aaker, D. (1996). Measuring brand equity across products and markets. California Management, 38(2), 102-120.
- Adetunji, R., Mohd Rashid, S., & Ishak, M. (2018). Social media marketing communication and consumer-based brand equity: An account of automotive brands in Malaysia. Malaysian Journal of Communication, 34(1), 1-19.
- Ahmad, F., & Sherwani, N. (2015). An empirical study on the effect of brand equity of mobile phones on customer satisfaction. International Journal of Marketing Studies, 7(2), 59-69.
- Aquinia, A., & Soliha, E. (2020). The effect of brand equity dimensions on repurchase intention. Diponegoro International Journal of Business, 3(2), 97-103.
- Aris, C. (2020). A study of brand association, service quality, brand awareness, brand loyalty, towards luxury cars. Case study of prestige image motorcars consumer. Swiss German University.
- Arshad, R. M., & Victor, S. (2020). An empirical study on the relationship of brand equity to purchase intention: A study of branded shoes in the Kingdom of Bahrain. IKSP Journal of Business and Economics, 1(1), 38-51.
- Atulkar, S. (2020). Brand trust and brand loyalty in mall shoppers. Marketing Intelligence & Planning, 38(5), 559-572.
- Berni, R., Nikiforova, N. D. N., & Ranfagni, S. (2020). An integrated approach to estimate brand association matching and strength in virtual settings. Journal of Global Fashion Marketing, 11(2), 117-136.
- Buil, I., de Chernatony, L., & Hem, L. (2009). Brand extension strategies: Perceived fit, brand type, and culture influences. European Journal of Marketing, 43(11/12), 1300-1324.
- Chatzipanagiotou, K., Christodoulides, G., & Veloutsou, C. (2019). Managing the consumer-based brand equity process: A cross-cultural perspective. International Business Review, 28(2), 328-343.
- Chuang, C. C. (2021). Explore branding as a marketing strategy. International Journal of Multidisciplinary Research and Publications, 3(10), 15-18.
- Creswell, J. W. (2014). Research design: Qualitative, quantitative and mixed methods approaches (4th ed.). Thousand Oaks, CA: Sage.
- Dada, M. H. (2021). Impact of brand association, brand image & brand loyalty on brand equity. Journal of Marketing Strategies, 3(1), 29-43.
- Department of Statistics Malaysia. (2022, July 29). Current Population Estimates, Malaysia, 2022. Malaysia: Department of Statistics.
- Dessalegne, T. (2019). The role of product label and advertising on brand equity: The case of habesha beer. St. Mary’s University.
- Doddy, M., Ali, J., Hindardjo, A., & Ratnasih, C. (2020). The influence of brand awareness, perceived quality, brand association, brand loyalty on brand equity of zakat institutions. Proceedings of The International Conference on Environmental and Technology of Law, Business and Education on Post Covid 19. Bandar Lampung, Indonesia.
- Fong, C.-H., & Goh, Y.-N. (2021). Why brand equity is so important for private healthcare? View from an emerging market. International Journal of Healthcare Management, 14(4), 1198-1205.
- Fortune Business Insights. (2021). Toys market size, share & COVID-19 impact analysis, by product type (dolls, outdoor and sports toys, building and construction set, infant and preschool toys, games & puzzles, and others), by age group (0-3 years, 3-5 years, 5-12 years, 12-18 years, and 18+ years), by distribution channel (online and offline), and regional forecast, 2021–2028.
- Garanti, Z., & Kissi, P. (2019). The effects of social media brand personality on brand loyalty in the Latvian banking industry: The mediating role of brand equity. International Journal of Bank Marketing, 37(6), 1480-1503.
- Gassama, M. (2021). Analysing global brand equity in B2B SMEs (Master’s Thesis). Lappeenranta-Lahti University of Technology LUT.
- Górska-Warsewicz, H. (2020). Factors determining city brand equity – A systematic literature review. Sustainability, 12(19), 7858.
- Gringarten, H. (2013). Price and store image as mitigating factors in the perception and evaluation of retailers’ customer-based brand equity. Lynn University.
- Guo, X., Meng, Y., & Xiong, J. (2022). Failed synergy from brand alliance: What Volvo learned in China? Journal of Business Strategy, 43(4), 257-266.
- Haryanto, J. O. (2020). Better understanding the 4thmarket of children as consumers. Firm Journal of Management Studies, 5(2), 200-204.
- Hoeffler, S., & Keller, K. L. (2003). The marketing advantages of strong brands. Journal of Brand Management, 10(6), 421-445.
- Ilias, N. F. B., Liang, T. K. W., Lo, M. C., Afendi, U. S. b. N., Yee, S. S., & Badruddin, N. I. b. (2020). Factors influencing brand equity of sportswear brand among young adult in Malaysia. Journal of Marketing and Information Systems, 3(1), 26-45.
- Jamshidi, D., & Rousta, A. (2021). Brand commitment role in the relationship between brand loyalty and brand satisfaction: Phone industry in Malaysia. Journal of Promotion Management, 27(1), 151-176.
- Jayasuriya, N. A., Azam, S. M. F., Khatibi, A., Atan, H., & Dharmarante, I. R. (2018). The role of social media marketing on brand equity – A literature review. Global Journal of Management and Business Research, 18(5), 31-39.
- Keller, K. (2003). Brand synthesis: The multidimensionality of brand knowledge. Journal of Consumer Research, 29(4), 595-600.
- Keller, K. L. (1993). Conceptualizing, measuring, and managing customer-based brand equity. Journal of Marketing, 57, 1-22.
- Keller, K. L. (2001). Building customer-based brand equity: A blueprint for creating strong brands. Marketing Science Institute, 1(107), 3-25.
- Keller, K. L., & Tim, O. B. (2019). Measuring brand equity. Springer.
- Ko, Y.-C., Lo, C.-H., & Chang, Y.-C. (2021). The influence of smartphone games on students’ self-concept. Applied Sciences, 11(16), 7408.
- Koliby, I. S. A., & Rahman, D. M. (2018). Influence dimensions of brand equity on purchase intention toward smartphone in Malaysia. VFAST Transactions on Education and Social Sciences, 15(1), 7-19.
- Kotler, P., & Keller, K. L. (2006). Marketing management (12th ed.). New Dehli: Pearson Prentice Hall.
- Krejcie, R., & Morgan, D. (1970). Determining sample size for research activities. Educational and Psychological Measurement, 30(3), 607-610.
- Ledikwe, A., Roberts-Lombard, M., & Klopper, H. (2019). The perceived influence of relationship quality on brand loyalty: An emerging market perspective. African Journal of Economic and Management Studies, 10(1), 85-101.
- Li, J., Fu, T., Han, S., & Liang, R. (2023). Exploring the impact of corporate social responsibility on financial performance: The moderating role of media attention. Sustainability, 15(6), 5023.
- Lin, Z., & Zhang, Y. (2021). From brand identity to brand loyalty. Proceedings of the 2021 3rd International Conference on Economic Management and Cultural Industry (ICEMCI 2021) (pp. 2352-5428).
- Muniz, F., Guzmán, F., Paswan, A., & Crawford, H. (2019). The immediate effect of corporate social responsibility on consumer-based brand equity. Journal of Product & Brand Management, 28(7), 864-879.
- Nana, S., Tobias-Mamina, R., Chiliya, N., & Maziriri, E. F. (2019). The impact of corporate rebranding on brand equity and firm performance. Journal of Business and Retail Management Research, 13(4), 93-102.
- Ng, E., Hoo, W. C., Ng, A. H. H., Sam, T. H., Yew, L. K., & Dayd, S. N. (2022). A study on the brand equity of bubble milk tea in Klang Valley, Malaysia. NeuroQuantology, 20(6), 84-91.
- Nguyen, T., Quach, S., & Thaichon, P. (2021). The effect of AI quality on customer experience and brand relationship. Journal of Consumer Behaviour, 21(3), 481-493.
- Perdana, F., & Kartawinata, B. (2022). The influence of social media marketing through instagram and brand awareness on consumer’s purchase intention of speedtuner in Indonesia. Proceedings of the 7th North American International Conference on Industrial Engineering and Operations Management (pp. 2571-2577). Orlando, Florida.
- Pinar, M., Girard, T., & Basfirinci, C. (2020). Examining the relationship between brand equity dimensions and university brand equity. International Journal of Educational Management, 34(7), 1119-1141.
- Polat, A. S., & Çetinsöz, B. C. (2021). The mediating role of brand love in the relationship between consumer-based brand equity and brand loyalty: A research on Starbucks. Journal of Tourism and Services, 12(22), 150-167.
- Povera, A. (2022, February 14). Average household size in Malaysia shrinking, reveals census. New Straits Times.
- Press Trust of India. (2023, January 12). Over 18,500 toys seized from Hamleys, Archies stores for lack of BIS mark. New Delhi: Business Standard.
- Rajkumar, A., & Hareeesh, R. (2022). A study on brand awareness with reference to Tata Motors. Journal of Engineering Sciences, 13(11), 26-29.
- Research and Market. (2022). Toys and games market size, share & trends analysis report by product (preschool toys, dolls), by application (0-8 years, 15 years & above), by distribution channel (offline, online), by region, and segment forecasts, 2022–2030.
- Saidarka, G. A., & Rusfian, E. Z. (2019). Comparative study on brand equity of fast food restaurants in Indonesia. International Journal of Innovation, Creativity and Change, 8(6), 292-302.
- Saputra, S. (2022). The influence of brand awareness, brand image, perceived quality and brand loyalty on brand equity in banking sector. Journal of Business Studies and Management Review, 5(2), 319-326.
- Shaalan, A., Hegazy, A., Tourky, M., Elshaer, I., & Ashour, H. (2022). Understanding consumer-based brand equity and its antecedents in international and national banks in Egypt. Journal of Marketing Communications, 28(1), 38-72.
- Shanahan, T., Tran, T., & Taylor, E. (2019). Getting to know you: Social media personalization as a means of enhancing brand loyalty and perceived quality. Journal of Retailing and Consumer Services, 47, 57-65.
- Shrestha, N. (2021). Factor analysis as a tool for survey analysis. American Journal of Applied Mathematics and Statistics, 9(1), 4-11.
- Simon, C. J., & Sullivan, M. W. (1993). The measurement and determinants of brand equity: A financial approach. Marketing Science, 12(1), 28-52.
- Singh, J., Crisafulli, B., Quamina, L., & Kottasz, R. (2020). The role of brand equity and crisis type on corporate brand alliances in crises. European Management Review, 17(4), 821-834.
- Statista. (2023, August). Toys & Games – Worldwide.
- Statista. (n.d.). Number of smartphone subscriptions worldwide from 2016 to 2022, with forecasts from 2023 to 2028.
- Sürücü, Ö., Öztürk, Y., Okumus, F., & Bilgihan, A. (2019). Brand awareness, image, physical quality and employee behavior as building blocks of customer-based brand equity (CBBE): Consequences in the hotel context. Journal of Hospitality and Tourism, 40, 114-124.
- Susanti, V., Sumarwan, U., Simanjuntak, M., & Yusuf, E. Z. (2019). How to manage customer satisfaction through brand association and perceived value strategy. Journal of Management & Marketing Review, 4(3), 184-193.
- Tardin, M., & Pelissari, A. S. (2021). The influence of eWOM valence on brand equity dimensions and on purchase intention. International Journal for Innovation Education and Research, 9(8), 407-423.
- Tewodros, D. (2019). The role of product label and advertising on brand equity: The case of Habesha beer. St. Mary’s University.
- Tran, K. T., Nguyen, P. V., Do, H. T. S., & Nguyen, L. T. (2020). University students’ insight on brand equity. Management Science Letters, 10, 2053-2062.
- Vaishnavi, B., & Justus, F. S. T. (2020). Toy repurchase behaviour among parents. ADALYA JOURNAL, 9(8), 1-9.
- Vern, N. E., Hoo, W. C., Ng, A. H. H., Sam, T. H., Yew, L. K., & Siti, N. D. (2022). Factors influencing brand equity on bubble milk tea brands in Klang Valley, Malaysia. NeuroQuantology, 20(6).
- Wijaksono, D., & Ali, H. (2019). Model repurchase intentions: Analysis of brand awareness, perceived quality, brand association, and brand loyalty (Case study private label on store Alfamidi in Tangerang). Saudi Journal of Humanities and Social Sciences, 4(5), 371-380.
- Yoo, B., Donthu, N., & Lee, S. (2000). An examination of selected marketing mix elements and brand equity. Journal of the Academy of Marketing Science, 28(2), 195-211.
- Yu, X., & Schwebel, D. C. (2018). The public health challenge of consumer non-compliance to toy product recalls and proposed solutions. International Journal of Environmental Research and Public Health, 15(3), 540.
- Yuen, J. (2018, July 18). Malaysia: Distribution channels and entry strategies (toys and baby products). HKTDC Research.
- Zarantonello, L., Grappi, S., Formisano, M., & Brakus, J. (2020). How consumer-based brand equity relates to market share of global and local brands in developed and emerging countries. International Marketing Review, 37(2), 345-375.