Impact of Brand Association on Brand Equity in Organized Retail Sector

Abstract

The development of organized retail chains has had an enormous impact on changing consumer behaviour and brand dynamics in the retail sector in recent years. Research on brand equity has acquired substantial importance in the current competitive market situation. Brand equity is regarded as a required part of marketing strategies. It is essential to develop a strong bond with customers to gain a long-term customer base, so the study of different factors affecting consumer decision making becomes very important for marketers. Brand association is a link that buyers draw in their mind between their brand and an urge, interpretation, feeling, moment, someone, search, or interest. Buying judgments are significantly prompted by this linkage, which could be immediately favorable or unfavorable. Consumers’ overall opinions and relationships with a brand are represented by brand equity. Brand association can add value by facilitating knowledge repossession procedures, distinguishing brands, giving ways to purchase, and developing good feelings. Marketing must create and sustain effective sentimental bonds with consumers to gain their trust in the firm. Brand awareness helps customers develop strong attachment over an extended time period. Retailers may evaluate and supervise their brand’s opinion to establish a competitive edge for increasing customer loyalty and preference by understanding consumer brand equity. The intention of the research was to attain the association between brand association and brand equity in the organized retail sector. The research was conducted utilizing the survey technique incorporating the Likert Scale to collect the primary data from Jaipur city, the capital of Rajasthan State of India. The relationship between brand association and brand equity was conceptualized based on existing research in the organized retailing sector, and data were collected using a structured questionnaire. For the study, responses from 225 customers were collected using the convenience sampling method. The outcomes of the analysis show a direct and significant relationship between brand associations and brand equity in the organized retail sector. The study will help marketers to include strategies related to brand association and brand equity in their marketing campaigns to connect more with customers to increase their repurchasing of brands.