​THE EFFECTS OF BRAND EQUITY ON PURCHASE INTENTION ON CAR

INSURANCE

CHAPTER I

Introduction

Background of the Study

Insurance firms play an important role in an economy’s growth and development and are

key financial institutions that are critical for the success of other companies. These companies

provide stability to both individuals and businesses by agreeing to bear the financial liability of

insured parties.

Achieving success in this competitive business world business organizations need

efficient tools for attracting, retaining, and increasing the consumers having powerful brand

equity to carry out their goals. The concept of brand equity was created about 20 years ago as a

basic concept in marketing. The brand equity refers to the part of the product that is concerned to

the brand. It is simply defined as intangible and essential properties of the company which are

acquired through the customers’ attitudes and behavior.

Since the inception of the brand equity (BE) concept, many researchers have extensively

used it in different domains (Keller, Aperia, & Georgeson, 2008). Chow, Ling, Yen, and Hwang

(2017) suggest that BE is an effective framework for understanding the possible consequences of

multiple brand strategies. BE has a customer and firm-based perspective (Datta, Ailawadi,

Van-Heerde, 2017). The customer perspective focuses on the “consumer mindset, which includes

structures such as attitude, awareness, associations, attachments, and loyalties” (Keller &

Lehmann, 2003). Simultaneously, the firm-based perspective stresses “employing

product-market outcomes such as price premium, market share, relative price, and

financial-market outcomes such as brand purchase price and subsidized cash flow of licenses and

royalties” (Liu, Wong, Tseng, Chang & Phau, 2017).

Given the prevailing competitive environment, firms and companies spend considerable

resources on BI and BE. They understand that a strong BI is necessary for sustainable growth,

product differentiation, and competitive advantage (Sinclair & Keller, 2017). Many researchers

suggest there is more need for studies on BE in developing countries, especially in the domains

of insurance (Hosseini & Moezzi, 2015; Theurer, Tumasjan, Welpe, & Lievens, 2018). Similarly,

others recommend more studies on the customer based BE model in different domains and

societies (Chatzipanagiotou, Christodoulides, & Veloutsou, 2019; Machado et al., 2019;

Algharabat, Rana, Alalwan, Baabdullah, & Gupta, 2020).

Insurance firms play an important role in an economy’s growth and development.

Insurance has two purposes (Waseem-Ul-Hameed, Ali, Nadeem, & Amjad, 2017). First,

insurance functions as an economic instrument that is critical to the success of other companies.

Insurance gives stability to individuals and businesses by agreeing to bear the financial liability

of the insured parties. Second, insurance accumulates assets in the economy, community, and

privately held sectors as a financial entity. Khan et al. (2018) suggest that insurance educates and

inspires people to save for the future. Wang, Asghar, Zaidi, Nawaz, Wang, Zhao, and Xu (2020)

suggest that insurance, apart from its traditional role, can significantly contribute to the fight

against underdevelopment, insecurity, illness, illiteracy, unemployment, negative trade balances,

and other economic features prevalent in underdeveloped countries. Similarly, Hussein (2019)

also suggests that the insurance industry plays an important role in economic and social

development.
 Pakistan is reshaping the economy to face the demands of the global marketplace. The

government has implemented several reforms to promote and consolidate Pakistan’s status as an

emerging regional market. As a consequence of the reforms, the financial industry has been

deregulated and liberalized (Takaful, 2019). Consumers’ perception of insurance products in

Pakistan is low. Therefore, the insurance sectors’ contribution towards GDP is 0.9%. However,

other regional countries’ insurance sectors’ contribution to GDP is 2.2%. At the same time, the

global average is 6.6%. The major reason for the low insurance ratio in Pakistan is the poor

service and bottlenecks in the claim process (Pasha, Hamid, & Shahzad, 2017). The insurance

sector in Pakistan offers two types of insurance, i.e., life and general insurance. Life insurance

focuses on life and health. On the other hand, general insurance mostly covers motor vehicles,

homes, travel, and phones (Ahmed, Arshad, Mahmood, & Akhtar, 2019).

Such new studies may bring further insight into the association between the

customer-based brand equity and purchase intentions. This study will respond to the calls of

earlier studies and will examine Metro Manila Car Insurance Companies consumer’s attitudes

and behavior towards its services. It specifically identifies the impact of brand equity on

consumer purchase intentions.

It is expected that this study will determine which elements of brand assets affect

consumers' intention to purchase, thereby helping insurance companies plan to build brands and

create brand values which get customers’ loyalty and increase the intention of purchasing the

insurance’s services.

Rationale of the Study

Nowadays the vehicle insurance industry is being more competitive and a lot of business

strategy innovations are taking the market. It is important to a company to have a strong brand
that will help them to be easily distinguished in the market. In order to achieve this an

organization must be aware of the current needs and future expectations of its consumers in order

for them to formulate a strategy to cope up with this fast changing competitive industry. Brand

Equity is a marketing effect that greatly affects an organization on its market value towards its

target consumers. The aim of this study is to help a car insurance company to know how their

consumers chose a motor insurance company based on its conception towards their company.

Brand Equity has been a concept for insurance businesses in the Philippines, and there

has been few research on the subject. As a result, the goal of this research is to gain a deeper

understanding of vehicle insurance firms' current brand equity strategies, as well as their help

needs. As a result, the study emphasizes the need of providing assistance to insurance

companies. Both the public and private sectors can play an essential role in encouraging

insurance businesses to undertake this to enhance its brand equity.

Scope and Limitations

This research proposal focuses on examining the effect of brand equity on purchase

intention on car insurance in Metro Manila. The result of this study is applicable only to the

respondents of this study. The researcher is considered working on this study to determine the

effects of brand equity on purchase intentions on car insurance in Metro Manila and to provide

useful information on practice.

The proposed study will be delimited to identify: (1) the demographic profile of the

respondents in terms of age, sex, highest educational attainment, monthly personal income, and

car insurance brand ownership; (2) level of brand awareness of the respondents; (3) level of
brand association of the respondents in terms of perceived value and brand personality, (4) level

of brand loyalty of the respondents in terms of price premium and satisfaction, and (5)

managerial recommendations to be provided in this study.

Significance of the Study

The goal of this paper is to determine how well the brand equity of car insurance

companies in Metro Manila, to speculate how brand equity may greatly affect the purchase

intention of consumers on a car insurance company.

Car Insurance Companies. This study will benefit car insurance companies to become

more customer-oriented by providing individually adjusted services, according to the specific

needs of the customer. By enhancing integrity, building trust-based relationships, offering more

precise information and instilling a customer oriented mindset in the company culture,

companies can enhance their ability to meet the constant changes in customers’ preferences.

Marketers. This will benefit them in a way that it may elaborate the relation between the

awareness of a brand and the intention of the consumer of availing services or buying that brand.

This will help them to know how knowing a brand well will affect the consumer in

making-decision about buying a product.

Future Researchers. This study would help future researchers in determining the effect

of brand equity on the purchase intentions of consumers.

 Statement of the Problem

This study aims to assess the effect of brand equity on consumer purchase intention

towards Car Insurance Services in Metro Manila.

To achieve the purpose of this study, it will seek to answer the following questions:

RESEARCH OBJECTIVES RESEARCH QUESTIONS

1. To determine the demographic profile of the 1. What is the demographic profile of the

respondents in terms of age, sex, highest educational respondents in terms of age, sex, highest

attainment, monthly household income, and car educational attainment, monthly household income,

insurance brand ownership. and car insurance brand ownership?

2. To determine the level of brand awareness of the 2. What is the level of brand awareness of the

respondents respondents?

3. To determine the level of brand association of the 3. What is the level of brand association of the

respondents in terms of perceived value and brand respondents in terms of perceived value and brand

personality personality?

4. To determine the level of perceived quality of the 4. What is the level of perceived quality of the

respondents in terms of product quality and respondents in terms of product quality and

leadership leadership?
5. To determine the level of brand loyalty of the 5. What is the level of brand loyalty of the

respondents in terms of price premium and respondents in terms of price premium and

satisfaction satisfaction?

6. To determine the level of brand equity of the 6. What is the level of brand equity of the

respondents respondents?

7. To determine the level of purchase intention of the 7. What is the level of purchase intention of the

respondents respondents?

8. To determine the effect on brand awareness to the 8. What is the effect on brand awareness to the

purchase intention of the respondents purchase intention of the respondents?

9. To determine the effect of brand association to the 9. What is the effect of brand association to the

purchase intention of the respondents purchase intention of the respondents?

10. To determine the effect of perceived quality to 10. What is the effect of perceived quality to the

the purchase intention of the respondents purchase intention of the respondents?

11. To determine the effect of brand loyalty to the 11. What is the effect of brand loyalty to the

purchase intention of the respondents purchase intention of the respondents?

12. To determine the effect of brand equity to the 12. What is the effect of brand equity to the

purchase intention of the respondents purchase intention of the respondents?

13. To determine the effect of brand equity to the 13. What is the effect of brand equity to the

purchase intention of the respondents as moderated purchase intention of the respondents as moderated

by their demographic profile by their demographic profile?

14. To provide managerial recommendations based 14. What managerial recommendations can the

on the findings of this study researcher provide based on the findings of this

study?

Hypotheses

H1: Brand Awareness has a positive effect to the purchase intention of the respondents

H2: Brand Association has a positive effect to the purchase intention of the respondents

H3: Perceived Quality has a positive effect to the purchase intention of the respondents

H4: Brand Loyalty has a positive effect to the purchase intention of the respondents

H5: Brand Equity has a positive effect to the purchase intention of the respondents

H6: Brand Equity has a positive effect to the purchase intention of the respondents as

moderated by their demographic profile

Definition of Terms

To ensure understanding of the study, the following terms were defined as follows:

Awareness. This refers to the state of being well-informed on a specific product and

services.

Brand Awareness. This refers to the extent to which consumers are familiar with the

distinctive qualities or image of a particular brand of goods or services.

 Brand Associations. It pertains to particular thoughts and impressions that a consumer

has a brand; marketers usually attempt to create mental associations that are favorable and strong

and that differentiate it from competing brands.

Brand Loyalty. It connotes that a consistent brand is a strong brand. When your brand

delivers the same experience with every interaction, meaning the same tone of voice, the same

color palette, logo and imagery, the same user experience, people trust you.

Brand Personality. This refers to the personification of human traits and personality on

the company’s brand in which the consumer can associate.

Car Insurance. It pertains to a contract between an individual and an insurance company

wherein the individual agrees to pay a certain amount in exchange of security against monetary

losses originating from accidents and vehicle damage.

Consumer. It pertains to a person who purchases goods and services for personal use.

Customer Loyalty. It pertains to an on-going emotional relationship between you and

your customer, manifesting itself by how willing a customer is to engage with and repeatedly

purchase from you versus your competitors.

Insurance. This refers to a practice or arrangement by which a company or government

agency provides a guarantee of compensation for specified loss, damage, illness or death in

return for payment of a premium.

Leadership. It refers to the ability of a product or a company to be superior in its field.

Perceived Quality. This refers to the quality that customers recognize via the look, touch

and feel of a car.

 Perceived Value. This refers to an individual's very own perception of a product or

services.

Product quality. It refers to how the product meets the standard of an industry and

satisfies its clients.

Price premium. It refers to the ability of an individual to pay more on a specific product

and services compared to its benchmark price.

Purchase Intention. This refers to the probability that a consumer will buy a product or

service.

Satisfaction. It refers to the state where the customer meets its expectations. When the

customer is satisfied with the product and service they bought.

 CHAPTER II

Review of Related Literature

Brand Awareness

According to Keller (1993), brand awareness is an important component of Brand equity.

The ability of consumers to distinguish brands in different situations is called brand awareness

(Keller, 2013, p.73), in other words, brand awareness is whether consumers recognize the brand

or not. Rossiter and Percy (1987) described brand awareness as a critical deliberation. It may be

thought of as a buyer identifies a brand within a category in sufficient detail to make a purchase.

It is important to remember that sufficient detail does not always require identification of the

brand name. Brand awareness may be proceeding through brand recognition and brand is

recognized at point of purchase. One of the important things to maintain brand awareness is

advertising because a brand is necessary to be introduced to customers and therefore recognized

(Macdonald & Sharp, 1997). According to Keller (2013, p.74), it is imperative that the marketer

researches and identifies the stage at which the consumer(s) make the purchase decision. This is

so because the role played by brand recognition is more crucial in cases where the decision to

buy is made at a location where the brand name and logo is displayed, for example, a car

dealership. Therefore, in this study, we identify that brand awareness relates to consumer

perceptions. Consumers have knowledge or awareness about the products. This perception gains

through consumer perception, recognition or outside information. Companies should incorporate

tools such as advertising, direct sales, promotions, public relations to spread information and

boost sales. Therefore, if a consumer has a good attitude towards a certain brand of car, he or she

first recognizes the presence of the brand in the market and distinguishes it from competing
brands. This helps them become more and more connected with the car brand and affect their

intention to buy.

Brand Associations (Perceived Value)

Aaker and McLoughlin (2010) explained that brand associations have linkage to the brand

in the consumers’ mind as a brand association. Brand associations are significant in that they

enable consumers to process and retrieve brand related information and the creation of attitudes

(Aaker, 1991; Yoo, Donthu, & Lee, 2000). They also provide a critical understanding of diverse

consumer related aspects (Christodoulides, Michaelidou, & Li, 2009). Brand associations are

said to be a key element for consumer intentions, for consumer loyalty to the brand and creating

value for the business. Consumers feel comfortable when they feel that brands fit their

self-awareness (Gurhan & Canli, 2007). Brand associations will help create the value of

businesses and customers and increase brand value as well by helping customers distinguish

different brands, creating positive feelings and attitudes in memory of consumers and providing

reasons for consumers to buy them (Tong & Hawley, 2009). Thus, brand association is a

component of brand equity and it has an impact on brand loyalty (Bang, 2016) and consumer

buying intentions (Nghi et al., 2014). The hypothesis is set up:

Perceived Quality

The perceived quality is the result of the consumer’s subjective judgment to a product

(Zeithaml, 1988; Dodds, Monroe, & Grewal, 1991; Aaker, 1991). Aaker (1991) argued that

perceived quality can show the striking difference of a product or service and become a selective

brand in the minds of consumers. The perceived quality is a sign of achieving a distinctive brand

position. For several consumers, it is the basis that their purchasing decisions are made (Aaker &
McLoughlin, 2010). Product quality dimensions include performance; conformance to

specifications; features; customer support; process quality and aesthetic design, etc. (Aaker &

McLoughlin, 2010; Yoo et al., 2000). According to Atilgan et al. (2009), perceived quality forms

the basis for differentiation and expansion and is an important element of brand asset building.

The quality of sentiment directly affects the intention of purchasing and loyalty of the brand

(Bang, 2016), especially in the case of consumers who are not motivated or unable to conduct

detailed analysis first (Aaker, 1991; Bick, 2011; Buil, Martinez, & Dechernatony, 2013).

Therefore, it plays an important role in consumer awareness of the value of car brands. In

particular, the perceived quality affects the intention of buying consumer cars (Thanomsub,

2013).

Brand Loyalty

Tong and Hawley (2009) stated that consumer’s intention to purchase can vary by

situation and across cultures. Tho and Trang (2011) said that brand assets for consumer products

in the Vietnam market include 03 components (i) Perceptual quality, (ii) Brand awareness, and

(iii) Passion for the brand. Passion for the brand can be interpreted as enthusiasm, passion for the

brand that consists of two components of consumer preferences and trends. Consumption trends

may be affected by social consumption trends. For the car market in Vietnam, the preference for

car brands aside from the advantages of luxury, style, features, durability, low fuel consumption,

etc. of cars, consumers in Vietnam are also affected by social consumption trends. According to

the Vietnam Automobile Manufacturers' Association (VAMA, 2017), when Vietnamese

consumers decide to buy a car, they often choose a safe option to buy a car according to “crowd

loyalty”. This is explained to make it easier for them to resell but less devaluate when converting

cars (VAMA, 2017). Vietnamese people often prefer familiar car brands that have been available
in many Vietnamese markets such as Toyota, Honda, Ford, etc. Furthermore, besides the designs,

the ordinary Western consumers attach much importance to criteria on equipment and safety

technology. Meanwhile, for many Vietnamese consumers, they pay much attention to factors

such as color of vehicles, forms of cars, etc. (VAMA, 2017). Vietnamese people prefer cars with

reddish brown, black, silver white color to yellow, purple, or blue. They are willing to spend

more money on accessories that do not bring much efficiency to use such as plastic bumpers, gas

tank cover, headlight trim, exhaust pipes ... in order to "beautify” the car, they do not pay

attention to facilities such as seats, air conditioning systems or even safety systems such as ABS

anti-lock brakes, electronic balance system, airbags on vehicles (VAMA, 2017).

All factors related to “crowd loyalty” such as consumer trends, colors, forms, etc. of cars

for Vietnamese consumers can be considered as an element of brand equity. This factor relates to

other proprietary assets in the model of Aaker (1991) or “Social image” of Lassar, Mittal, and

Sharma (1995). Experts named this element "Brand loyalty" and considered it as a new factor in

the case of research in Vietnam with the intention of buying cars. Consumer behaviors relating to

brand preferences and purposes have an impact on the intention of the buyers (Aaker, 1991,

1996). In addition, factors such as crowd loyalty, colors, forms, usage habits... also affect

customer’s loyalty (VAMA, 2017).

Brand Attitude (BA) and Brand Image (BI)

Consumers develop an attitude towards a brand as they have limited cognitive processing

capability. Zhang, Li, Ye, Qin, and Zhong (2020) suggest that consumers’ attitude towards a

brand enhances its image (Kim, Jang, & Kim, 2021). An attitude represents an effect on an

object. The BE model examines the effect of attitudes on market share. The study found that “the
market share of two-third of surveyed brands increased” due to consumers’ positive attitude

(Baldinger, Rubinson, 1996).

Brand strength refers to the characteristics of a brand, due to which consumers develop a

positive attitude towards it, leading towards enhanced BI and loyalty. BA comprises three

components which are cognitive, affective, and conative. All three individually and collectively

affect BI (Byun, 2020). Lin, Lin, and Wang (2021) and others suggest that BA is a predefined

aspect of brand evaluation. This predefined evaluation enhances BI and customer loyalty (Zhang,

Zheng, & Zhang, 2020). Marketers use the brand association as a tool for product differentiation

and stimulating positive feelings towards a brand. Favorable attitudes towards a brand motivate

consumers to develop loyalty and sustainable relationships. Extant literature has documented that

attitude towards a brand directly correlates with their behavioral intentions (Yodpram & Intalar,

2020; Liu, Dzyabura, & Mizik, 2020).

Brand Attitude (BA) and Brand Equity (BE)

Saraji, and MonshiZadeh (2018) have referred to BA as “a relatively long-lasting, one

dimensional overview appraisal of a brand that presumably energizes behavior.” Customers with

a positive BA are more inclined to pay a higher price for it (Agmeka, Wathoni, & Santoso, 2019;

Paul & Bhakar, 2018; Aaker, 1992). Many researchers suggest that BA is a precursor to a firm’s

BE and sustainable growth (Ramesh, Saha, Goswami & Dahiya, 2019; Sadrabadi, Saraji, &

MonshiZadeh, 2018). BA reflects a brand’s likeability and how favorably a consumer perceives

it (Kim, Jang, & Kim, 2021). Agmeka, Wathoni, and Santoso (2019) argue that consumers’

behavior towards a brand depends on their attitude. If they have a positive attitude towards a

brand, their attitude towards BE would also be positive. On the other hand, a negative attitude
towards a brand would adversely affect BE. Extant literature also supports the correlation

between BA and BE (Arghashi, Bozbay, & Karami, 2021; Sadrabadi, Saraji, & MonshiZadeh,

2018). Hedonic behaviors (e.g., enthusiasm, delight, and enjoyment) are considered important

for promoting BE and purchase intentions (Liao et al., 2017; Sadrabadi, Saraji, & MonshiZadeh,

2018). Given the importance of emotions, many brands use emotional appeal in their advertising

strategies.

Brand Attitude (BA) and Customer Satisfaction (CS)

BA and CS are distinct constructs. However, both of them have a causal relationship. BA

enhances CS, and CS positively impacts BA (Oliver, 1980; Lee, Han, Radic & Tariq, 2020;

Rivera, Bigne, & Curras-Perez, 2019). Hwang and Mattila (2019) suggest that CS is

consumption-specific, and it is transitory. On the other hand, BA is relatively enduring.

Consumers with a strong BA may ignore random bad experiences and hence may not complain.

Oliver (1980) found that satisfaction significantly depends on consumers’ past experience and

may influence consumers’ post-purchase attitudes. However, attitude towards a brand or product

is not dependent on experience. Advertisements, BI, and corporate image are precursors of

attitude (Byun, 2020; Augusto & Torres, 2018). Past studies have documented that BA has a

direct and indirect association with customer satisfaction. For example, researchers have found

that BI and corporate image mediate CS (Ko, & Chiu, 2008, Bozbay Karami & Arghashi, 2018;

Evardsson & Gustavsson, 2013).

Brand Image (BI) and Brand Equity (BE)

Many researchers believe that BI is an integral part of BE, while others think BI and BE

are distinct constructs, but the former is a precursor of the latter (Keller & Brexendorf, 2019).

Liu (2020) stresses that high equity brands appear to have a more favorable brand association
(BI) than low equity brands. Marques, da-Silva, Davcik, and Faria (2020) also report that

premium rates and higher BE attributed to higher product quality and image. Similarly, Surucu,

Ozturk, Okumus, and Bilgihan (2019) observed that “positive BI'' affects BE “positively,” while

negative BI affects BE “negatively.” Consumers’ evaluation and decision-making process to buy

a brand significantly depend on BI. Thus, a brand with a strong image and equity reduces

consumers’ search in the purchasing process (Tran, Nguyen, Do & Nguyen, 2020; Erkan,

Gokerik, & Acikgoz, 2019; Han, 2017). Brand association depends on marketing mix strategies.

At the same time, the brand association is a significant determinant of BI and BE (Keller &

Brexendorf, 2019). Thus, one can infer that marketing mix strategies (i.e., product, price,

promotion, and place) mediate brand association and BE. Strong and favorable BE also allows

marketers to differentiate their brands from competitors leading towards increased market share

and sustainable growth (Iglesias, Markovic, Singh, & Sierra, 2019; Alam & Khan, 2019).

Brand Equity (BE) and Purchase Intentions (PI)

BE refers to the premium value it generates for its brands. A firm can create BE by

delivering valuable, memorable, and recognizable propositions for its target audience (Sanny,

Arina Maulidya, & Pertiwi, 2020). Premium brands command consumers’ PI and promote

sustainable relationships with customers. Sawaftah, Calıcıoglu, & Awadallah (2020) suggest that

consumers do not hesitate to pay a premium price for brands with high equity. On the contrary,

consumers do not pay premium prices for low BE (Kim & Park, 2013). PI depends on attitude

towards products and services. At the same time, BA affects PI and BE (Kim, Chun, & Ko,

2017; Kala & Chaube, 2018). Consumers are risk avoiders, generally. While buying products and

services, they spend considerable time reducing the risks associated with their purchases. Thus, a
few customers collect information from the internet and other available sources (Agmeka,

Wathoni, & Santoso, 2019).

In comparison, others make their purchase decisions based on the experience of their

friends, peers, and families (Hien, Phuong, Tran, & Thang, 2020). In addition, many researchers

suggest that consumers have a perception that purchasing brands with strong equity would

reduce the risk associated with buying. Therefore, they have a higher inclination towards the

brand with strong BE than brands with weak BE (Hermanda, Sumarwan, & Tinaprillia, 2019).

Social media marketing

The marketing importance of social networking for businesses resides precisely in the

engagement between customers and the community and indirect, engaging, and low-cost

connectivity for creativity and information purposes (Kaplan et al., 2012). Social networking

increases the strength of online networks in different forms (Miller et al., 2009). Next, social

media stimulates deep connections between users that are richer than they were in the past.

Second, a particular event such as a market promotion or contract will rapidly mobilize the

online population. In addition, the information produced by members is aggregated inside social

media into records or web pages that are regularly modified and corrected by other members by

deepening the distribution of news and knowledge regarding business items or brands.

The digital transition has affected luxury in multiple respects (Husain et al., 2020;

Kapferer, 2014). Several kinds of research demonstrated a clear connection between subjective

norm and perceived behavioral control with luxury goals. In addition, the relationship between

attitude and purchasing purposes has been moderated by personal standards (Jain, 2020).

Companies may track and appreciate how social networking differs by studying each block,

thereby creating a successful social media policy by optimizing the return of their social presence
(Kumar & Mirchandani, 2012). Social networking management has been recognized as a

beneficial solution for manipulating emotional results, as online consumers may demonstrate

empathy for a brand even though they are unwilling to purchase the product of a business (Clark

& Melancon, 2013).

Social media platform and brand equity

The two chief motivations of consumers purchasing luxury brands are: it represents a

status of success and accomplishment and hedonistic behavior (De Rosa et al., 2019). The

prospect of luxury brands depends on the two mainstays. This aspect may vary among countries

and might also change from time to time (Kapferer & Bastien, 2017). A brand can impact

consumers’ attitudes and perceptions in many ways, such as brand awareness and brand

association.

Digital mass communication helps to spread information to the length and breadth of the

globe in a much more comprehensive way (Kotler and Keller, 2009; Tuten & Perotti, 2019). It

can be concluded that social media is one of the apt platforms for brands to create brand equity

and establish positive intent among luxury consumers.

Social media marketing campaigns boost brand equity (Bruhn et al., 2012; A.J. Kim &

Ko, Marine- Roig and Ferrer-Rosell, 2018). It might be inferred that they play an essential role in

the contemporary era promotional mix. Several studies have explored that both online and offline

have a positive effect on creating brand equity. A recent study showed a significant impact of

social media in producing brand equity with a positive impact (Yadav & Rahman, 2018).

Researchers have established a positive association between promotion and brand equity

in the milieu of marketing expenses (Yoo, & Lee, 2012; Villarejo-Ramos & Sanchez-Franco,
2005). It is a general notion that consumers recognize highly publicized brands as higher quality

brands (Bravo et al., 2007). Lastly, the promotion also produces robust and exclusive brand

relations (Cobb-Walgren et al., 1995). Therefore, SMME has a significant impact on Brand

equity.

Elements of Keller Model

Brand equity, as defined by Keller (1993), occurs when a brand is known and has some

strong, favorable and unique associations in a consumer’s memory. The CBBE model identifies

four steps for building a strong brand. In this branding ladder each step is dependent on

successfully achieving the previous - from brand identity to brand meaning, brand responses and

finally brand relationships. These steps in turn consist of six brand building blocks - salience,

performance, imagery, judgments, feelings and resonance. The ultimate aim is to reach the

pinnacle of the CBBE pyramid - resonance - where a completely harmonious relationship exists

between customers and the brand.

Keller’s argument is as follows (Keller, 2003). The first step in building a strong brand is

to ensure the correct brand identity. The purpose is to create an identification of the brand with

customers, and an association in their minds with a specific product class or need. To do this,

brand salience must exist, which represents aspects of brand awareness and the range of purchase

and consumption situations in which the brand comes to mind. The salience building block is

therefore made up of two sub-dimensions - need satisfaction and category identification.

Business-to-business products also possess image, association and perceptions of value,

but initial awareness and associations are often achieved by direct contact with company

salespeople (Gordon et al., 1993). In industrial markets branding is dependent on the surrounding
distribution network (Gordon et al., 1993; Rosenbroijer, 2001), making the role of distributors

particularly important in building equity. Large organizations often have a buying center

consisting of a number of parties from various departments, as well as specialists and other

interest groups, all of whom impact the purchase decision (Gordon et al., 1993; Morris et al.,

1999). This makes the process more complex as each member will possess different needs, and

will view the purchase situation, buying criteria and alternative suppliers in various ways

(Ghingold and Wilson, 1998). The Keller model is focused primarily on individuals’ perceptions

of brands in the assessment of brand equity, but in a B2B context these other influencers can

have an impact on brand equity as well.

The second step establishes brand meaning by linking tangible and intangible brand

associations. Brand meaning is therefore characterized in either functional (brand performance)

or abstract (image-related) associations. Functional attributes are 1) primary ingredients and

supplementary features; 2) product reliability, durability and serviceability; 3) service

effectiveness, efficiency and empathy; 4) style and design; and 5) price. Image associations relate

to the extrinsic properties of the product: 1) user profiles; 2) purchase and usage situations; 3)

personality and values; and 4) history, heritage and experiences (Keller 2003).

By contrast, industrial research suggests that brand value has other components including

the product, distribution services, support services and the company, each possessing both

tangible and intangible elements (Low and Blois, 2002; Mudambi et al., 1997). Keller’s model

tends to ignore elements relating to support services (specifically the rapport between the service

provider and customer) and the company (such as profitability, market share and reputation),

which may have greater importance in a B2B context. Similarly, Thompson et al. (1997/1998)

identify other brand attributes associated with the industrial purchasing process. Again, many of
these are evident in Keller’s brand meaning construct but attributes such as technical capability,

delivery reliability and responsiveness are not included.

It appears that quality, reliability, performance and service are primary factors for

building brand loyalty in the industrial context, with quality being paramount (Bendixen et al.,

2004; Michell et al., 2001; Thompson et al., 1997/1998). Keller sees this in the higher order

pyramid block judgments, but ignores the customer relationship with the sales team due to his

concentration on consumer markets. The sales force is a major brand-building tool for B2B

marketers (Lorge, 1998). A buyer’s purchase choice depends not only on their assessment of the

product’s functional benefits, but on their evaluation of the company’s sales people (Gordon et

al., 1993; Michell et al., 2001). These staff are company advocates who can affect the brand

meaning in various ways (Hogg et al., 1998; Kennedy, 1977; Tilley, 1999).

The Keller pyramid is also focused on the individual brand but B2B products are often

marketed under the manufacturer label, or a hybrid brand, where the company’s name is used

with a specific product name (Gordon et al., 1993; Michell et al., 2001). This makes the

company name an important decision variable. Factors relating to the company behind the brand

form only a minor part of the Keller model, but they are important in a B2B context (Selnes,

1993; Thompson et al., 1997/1998). For example, Abratt (1986) found supplier reputation to be

more important than price, and Shaw et al. (1989) showed that intangible attributes are often

more important than product performance.

Brand response is the third step in the Keller model and represents opinions and

evaluations of the brand based on a combination of associations identified in brand meaning.

These judgments include quality, credibility, consideration and superiority. Brand feelings are
customers’ emotional responses and reactions to the brand. Keller identifies six types: warmth,

fun, excitement, security, social approval and self respect (Keller, 2003).

This approach reflects a customer focus on the functional, emotional and self-expressive

benefits of brands. In contrast, industrial brand management is characterized by branding at the

corporate level, with greater customer emphasis on risk-reduction than on expressive benefits

(Mudambi, 2002). One way of managing and decreasing risk and uncertainty for the organization

is to buy leading brands from reputable companies (Mitchell, 1995; Mudambi, 2002). This

supports the importance of feelings and imagery in the organizational buying context, but

suggests that different types of feelings and imagery to those specified by Keller, may be

required in a B2B brand equity model.

Brand relationships constitute the final step in the pyramid where brand response is

converted to create an intense, active loyalty relationship between customers and the brand. The

pinnacle of the pyramid is resonance, which refers to the nature of the relationship between the

customer and the brand. It is described as having four elements: behavioral loyalty, attitudinal

attachment, sense of community and active engagement (Keller, 2001).

Customer loyalty generating factors have also been found to be important to the success

of industrial brands (Michell et al., 2001). Unlike consumer markets, the gain or loss of a few

customers can significantly impact an industrial manufacturer’s bottom line. This makes brand

loyalty particularly important as it is, in some respects, firm loyalty (Gordon et al., 1993).

Changes for one individual product may affect perceptions of all products and cause a distributor

to switch suppliers in all categories after a poor experience with an individual product (Gordon et

al., 1993). While there is a lack of research to confirm the existence of attitudinal attachment and

a sense of community in industrial markets, there is evidence of active engagement. Hutton

(1997) found willingness to communicate about the brand and make brand referrals. He also

found that some organizational buyers had developed such a strong relationship with the brand

they were willing to extend to other products with the same brand name.

In order to assess the applicability of the Keller model in a B2B environment and identify

insights and challenges of such an application, we undertook a study of the market for electronic

tracking systems for waste management. Electronic tracking systems for waste management

represent an interesting market for investigation of Keller’s brand equity model. The marketing

of high-technology products is challenging and the use of brands has been minimal until recently

(Zajas and Crowley, 1995). An increasing number of these companies however are now

undertaking brand building activities with the assumption they can create an asset that generates

long-term profits (Aaker and Jacobson, 2001).

Theoretical Framework

“Influence of social media advertisement on customer’s purchase decision” Kumar

Shubhangam*, Manisha Srivastava, Ritesh Ravi, Ravinjit Singh (2020)
 Figure 1. Influence of social media advertisement on customer’s purchase decision

Social media usage in today's world is getting bigger and bigger and social media is

modifying the traditional ways of advertising and marketing. In this journal it talks about the

effect of electronic word of mouth (e-WOM) in building brand equity. The common qualities of

social media advertisement are information, entertainment, rewards, trust, and satisfaction and

these qualities greatly affect Electronic Word of Mouth (e-WOM). Its findings revealed that

Electronic Word of Mouth (e-WOM) has a significant effect on Brand equity and at the same

time brand equity to the purchase intention of a consumer. Additionally, negative and positive

e-WOM can result in both gain and loss to an organization by incorporating this in their social

media advertising companies can attract a large number of patrons. A qualitative study has been

conducted in this research. Secondary data was from several journals and articles. This study

gives the idea to build a powerful brand equity through e-WOM. Additionally, It ratifies the

strong positive relationship between brand equity and purchase intention. (Kumar, et. al., 2020)

“The Impact of Brand Equity Drivers on Consumer-based Brand Equity in Sport Service

Selling” Gordon, B. S., James, J. D., (2017)

 Figure 2. Impact of Brand Equity Drivers on Consumer-based Brand Equity in Sport Service

Selling

The importance of brand equity has been posited and well documented by previous

studies, Brands with high equity allows firms to set the standards on prices as well as having the

ability to gain larger market share in relation to competitors, can maintain customer loyalty, offer

successful brand extension opportunities and can even influence their consumers to spread

positive word of mouth. Although strong brand equity is established, It has rarely been focused

to determine the impact of consumer’s behavior to hypothesized drivers of brand equity. It is

important to know the impact of brand equity such as brand awareness and brand associations to

empirically assess the numerous reasons the consumers' behavioral intentions (Gordon and

James, 2017). The study conceptualized and tested a consumer-based brand equity model based

on Keller’s brand equity pyramid that explains how consumer perceptions affect brand

resonance. The consumer-based brand equity pyramid is a sequential framework for how

organizations can build a strong brand and includes four steps, each of which needs to be

successfully accomplished to reach the next. The survey questionnaire contained several sections

of service brand-related measures. They selected a service brand (New York Yankees) due to the
high level of awareness of the sport service brand within their target sample, which allowed for a

more accurate comparison across context. They gathered deemed usable data with a sample of

(n=787) general consumers in a mid-sized southeastern community in order to validate the

consumer-based brand equity model. The Findings of this study provides actual evidence that

supports the brand association plays an important role in the overall brand-building process.

Hence, brand association shows a direct influence consumers’ cognitive evaluations and

affective responses to the brand, rather than behavioral intentions. Therefore, this study provides

a “brand barometer” to deeply understand the greater progress a company has made in their

attempts to manage and build its brand. Furthermore, this study has operationalized a new set of

consumer behavioral outcomes. This study provides evidence that consumers actively connect to

the brand on a regular basis as well as put forth effort to connect with other consumers on behalf

of the brand.(Gordon, S. & James, J)A sample data of 787 respondents were used to acquire the

results of the research.

Exploring the impact of marketing mix on brand equity in insurance industry

(ASIA INSURANCE FIRM, IRAN)

Mirza Hassan Hosseini,Hamed Moezzi(2015)

 Figure 3. impact of marketing mix on brand equity in insurance industry

This study explores the impact of marketing mix on the brand equity in the Insurance

Industry such as price, firm image, distribution, promotion and propaganda in Iran. According to

them, to build a stronger brand you should set customer-perceived brand equity elements

(Perceived Quality, Brand Loyalty, Brand Awareness, and Association) as a guide and criteria to

enhance its potential choosing by customer. Since, due to easy access to the statistical

population, particularly Asia Insurance Firm customers in Shiraz, Iran. Out of 950 customers

during a week, only a statistical sample (n=275) were selected using Kergsy-Morgan Table and

simple random method. The scale of the questionnaire was based on a 5-point Likert’s model.

The assessment of the valid questionnaire that was distributed among 30 respondents and data

analysis Croncbach’s alpha was 0.791 which is higher than 0.7. The findings revealed that there

is a direct relation between the 5 elements of marketing mix (price, firm image, distribution

intensity, propaganda, and promotion) to 3 brand equity. The relationship between brand image
and perceived quality as well as the relationship between brand image and awareness were

established. The effect of the 3 dimensions of brand equity on the value of brand equity is

positive. The relationship between distribution variable and brand quality, loyalty and awareness

were declined. It is also established in this research the relationship between the propaganda and

brand quality, loyalty and awareness. The study provides a strong support by relating the 4 brand

equity elements of this particular study. Strong Brand Equity (brand awareness, brand

association, perceived quality and brand loyalty.) can have a huge impact on a customer's

purchase intention.

Factors Affecting Consumer’s Purchase Intention toward Japanese Car in Bangkok.

Figure 4. Factors Affecting Consumer’s Purchase Intention toward Japanese Car in Bangkok
 This journal is about the Components of Brand Equity which are brand awareness, brand

association, perceived quality, and brand loyalty that affects the consumers' purchase intention

towards japanese cars in Bangkok, Thailand. The methodology of this research is quantitative

research utilizing questionares to examine the effect of the 4 components of Brand Equity

towards the consumers purchase intentions towards japanese cae. A sample data from 400

respondents were used to acquire the results of the research. The finding revealed that brand

awareness, brand association, perceived quality, and brand loyalty which are the four factors

building a brand equity are directly affecting the consumer purchase. In the study it shows that

brand loyalty is the highest level that affects the consumer's purchase intention followed by

brand association then brand awareness. The least among the 4 factors building a brand equity is

the perceived quality.(Morradok Thanomsub). This study supports the current research by

establishing a framework between the 4 components of brand equity and purchase intention.

(Morradok, 2015)

Conceptual Framework
 Figure 5. Research Paradigm

The brand asset factors affecting the intention to purchase car insurance in Metro Manila

are: brand awareness, brand associations, perceived quality, and brand loyalty.
 CHAPTER III

Research Design and Methodology

Research Design

This study will employ the descriptive research approach with correlation method that

includes informal interviews. Through this method it will provide better understanding of the

purchase intentions of consumers in availing car insurance.

The interpretation of this study will be divided into three (3) phases, the first phase would be

the validation of the questionnaires by three authorized validators. The second phase is the actual

data gathering of information through survey questionnaires and interviews. If necessary,

interviews will be conducted for clarification or blurry understanding of the respondents to the

questionnaires. And lastly, the presentation of data and analysis of the result to measure the

compliance of the respondents.

Population and Sample

The respondents of the study will be 400 car insurance holders in Metro Manila. The

population of the study is based on the LTO Annual Report (2021) on the number of registered

vehicles in Metro Manila which is 2,926,338.

Research Instrument

The data gathering instruments consisted of parts, namely:

Part I seeks information on the demographic profile of the respondents in terms of age,

sex, highest educational attainment, monthly personal income, and car insurance brand

ownership.

Part II will gather information on the level of brand awareness of the respondents, level

of brand association of the respondents in terms of perceived value and brand personality, level

of perceived quality of the respondents in terms of product quality and leadership, level of brand

loyalty of the respondents in terms of price premium and satisfaction, and level of brand equity

of the respondents.
 Part III elicit data regarding the purchase intention needed to provide based on the

findings of this study.

Reliability

Reliability refers to the degree of preciseness on the result of the assessment representing

the actual level of skill of the researcher. In order for the instrument to be consistent it should

undergo reliability of the instrument (latief 2011: 212). In this case we will conduct 15 pretest

samples to know how far the reliability of the instrument is. Crombach’s Alpha will measure

internal consistency with a .70 and above to signify that the test design is accurately measuring

the variable of interest.

Cronbach’s Internal
Alpha Consistency

.90 and above Excellent

0.80 - 0.89 Good

0.70 - 0.79 Acceptable

0.60 - 0.69 Questionable

0.50 - 0.59 Poor

below 0.50 Unacceptable

Validity

Validity should be used in qualitative research. It is the main aspect of the design of any

assessment of the instructment education research (Muij 2004:67). It refers to the process of

testing how well the test measure on it claims to be. Creswell & Miller (2000) propose that

validity is stirred by the researcher’s discernment of validity in the study and its preference of

paradigm assumption. To validate this research will seek the validation of our questionnaire from

2 industry experts and 1 academician.

Data Gathering Procedures

The researcher will use survey methodology on collecting the primary data by distributing

a set of questionnaires through email, social media platforms, and online forms in Metro Manila.

It will also conduct a face to face survey on its respondents from different key areas and business

districts where there is a huge number of car owners.

Statistical treatment

The data will be treated using the statistical tools:

a. Frequency count and percentages to describe the demographic profile of the

respondents in terms of age, sex, highest educational attainment, monthly personal

income, and car insurance brand ownership.

b. Mean to determine the level of brand awareness of the respondents, level of

brand association of the respondents in terms of perceived value and brand

personality, level of perceived quality of the respondents in terms of product quality

and leadership, level of brand loyalty of the respondents in terms of price premium

and satisfaction, and level of brand equity of the respondents.

 QUALITATIVE INTERPRETATION
VERBAL
RANGE INTERPRETAT
ION Brand Brand Perceived Brand Brand Purchase
Awareness Association Quality Loyalty Equity Intention

4.24-5.00 Strongly Agree Very High Very High Very High Very High Very High Very High
Level of Level of Level of Level of Level of Level of
Brand Brand Perceived Brand Brand Purchase
Awareness Association Quality Loyalty Equity Intention
3.43-4.23 Agree High Level High Level High Level High Level High Level High Level
of Brand of Brand of of Brand of Brand of Purchase
Awareness Association Perceived Loyalty Equity Intention
Quality
2.62-3.42 Neither Moderate Moderate Moderate Moderate Moderate Moderate
Agree/Disagree Level of Level of Level of Level of Level of Level of
Brand Brand Perceived Brand Brand Purchase
Awareness Association Quality Loyalty Equity Intention
1.81-2.61 Disagree Low Level Low Level Low Level Low Level Low Level Low Level
of Brand of Brand of of Brand of Brand of Purchase
Awareness Association Perceived Loyalty Equity Intention
Quality
1.00-1.80 Strongly Very Low Very Low Very Low Very Low Very Low Very Low
Disagree Level of Level of Level of Level of Level of Level of
Brand Brand Perceived Brand Brand Purchase
Awareness Association Quality Loyalty Equity Intention

c. Simple Linear Regression Analysis to determine the effect on brand awareness to

the purchase intention of the respondents, effect of brand association to the purchase

intention of the respondents, effect of perceived quality to the purchase intention of

the respondents, effect of brand loyalty to the purchase intention of the respondents,

effect of brand equity to the purchase intention of the respondents, and the the effect

of brand equity to the purchase intention of the respondents as moderated by their

demographic profile.

d.Multiple Linear Regression Analysis to determine the effect of components of

brand equity which are brand awareness, brand association, perceived quality and
 brand loyalty to the purchase intention of the respondent as moderated by their

demographic profile .

Ethical Considerations
The conduct of the basic research employed ethical considerations.

Conflict of Interest. There is no conflict of interest in the conduct of the study because the

researcher is just interested in the lived experiences of the participants for research purposes.

Privacy and Confidentiality. The researcher will maintain the privacy and confidentiality

of the participants by assigning codes/ pseudonym to the respondents. All documents pertaining

to the participants will be placed in a secured and locked filing cabinet. After the research, the

said documents will be destroyed through shredding and the recorded interview will be deleted.

Informed Consent. The researcher provided the participants with proper orientation on the

purpose of the study. The benefits that they get from the research will be explained to them.

Their willingness to participate by answering the questions during the interview is tantamount to

an implied consent.

Recruitment. Voluntary participation was solicited from the respondents. They will be

informed that they can withdraw their participation anytime.

Risk. The researcher ensured that respect of dignity, autonomy, and the involuntariness of

the research participants will not be compromised during the conduct of the research.

Benefits. The participants will benefit from the study because the result will be used to

develop suitable support programs for them.

Compensation. There was no compensation to be given to the respondents for

participating in the interview.

REFERENCES
Aaker, DA (1992), The Value of Brand Equity, Journal of Business Strategy, 13(4),

27-32.

Agmeka, F., Wathoni, R. N., & Santoso, A. S. (2019). The influence of discount framing

towards brand reputation and brand image on purchase intention and actual

behaviour in e-commerce. Procedia Computer Science, 161, 851-858.

Ahmed, A., Arshad, M. A., Mahmood, A., & Akhtar, S. (2019). The influence of spiritual

values on employees helping behavior: the moderating role of Islamic work ethic.

Journal of Management, Spirituality & Religion, 16(3), 235-263.

Alam, M. S., & Khan, B. M. (2019). The role of social media communication in brand

equity creation: An empirical study. IUP Journal of Brand Management, 16(1),

54-78.

Algharabat, R., Rana, N. P., Alalwan, A. A., Baabdullah, A., & Gupta, A. (2020).

Investigating the antecedents of customer brand engagement and consumer-based

brand equity in social media. Journal of Retailing and Consumer Services,

53,1-13.

Arghashi, V., Bozbay, Z., & Karami, A. (2021). An Integrated Model of Social Media

Brand Love: Mediators of Brand Attitude and Consumer Satisfaction. Journal of

Relationship Marketing, 20(4), 1-30.

Baldinger, A. L., & Rubinson, J. (1996). Brand loyalty: the link between attitude and

behavior. Journal of Advertising Research, 36(6), 22-35.

Bozbay, Z., Karami, A., & Arghashi, V. (2018). The Relationship between Brand Love

and Brand Attitude. In 2nd International Conference on Management and

Business, Tebriz, Iran (pp. 8-9).

Byun, K. W. (2020). A Study on Information Attitude, Brand Attitude, Usage

Satisfaction, Brand Image and Brand Loyalty of YouTube Sports Contents

Viewer. International Journal of Internet, Broadcasting and Communication,

12(3), 206-21

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.

Chow, H. W., Ling, G. J., Yen, I. Y., & Hwang, K. P. (2017). Building brand equity

through industrial tourism. Asia Pacific Management Review, 22(2), 70-79.

Datta, H., Ailawadi, K. L., & Van Heerde, H. J. (2017). How well does consumer-based

brand equity align with sales-based brand equity and marketing-mix response?.

Journal of Marketing, 81(3), 1-20.

Edvardsson, B., & Gustavsson, B. (2003). Quality in the work environment: a

prerequisite for success in new service development. Managing Service Quality:

An International Journal, 13(2), 148-163.

Erkan, I., Gokerik, M., & Acikgoz, F. (2019). The impacts of Facebook ads on brand

image, brand awareness, and brand equity. In Handbook of Research on

Entrepreneurship and Marketing for Global Reach in the Digital Economy (pp.

442-462). IGI Global.

Hermanda, A., Sumarwan, U., & Tinaprillia, N. (2019). The effect of social media

influencer on brand image, self-concept, and purchase intention. Journal of

Consumer Sciences, 4(2), 76-89.

Hien, N., Phuong, N., Tran, T., & Thang, L. (2020). The effect of country-of-origin image

on purchase intention: The mediating role of brand image and brand evaluation.

Management Science Letters, 10(6), 1205-1212.

Hossain, M. S., & Zhou, X. (2018). Impact of m-payments on purchase intention and

customer satisfaction: perceived flow as mediator. International Journal of

Science and Business, 2(3), 503-517.

Hosseini, M. H., & Moezzi, H. (2015). Exploring impact of marketing mix on brand

equity in insurance industry case study: Asia insurance firm Iran. Journal of Asian

Scientific Research, 5(1), 38-45.

Hussein, M. A. (2019). The Role of Insurance Sector in the Development of the Economy

of Oman. Global Journal of Economics and Business, 6(2), 356 -373.

Hwang, Y., & Mattila, A. S. (2019). Feeling left out and losing control: The interactive

Effect of social exclusion and gender on brand attitude. International Journal of

Hospitality Management, 77, 303-310.

Iglesias, O., Markovic, S., & Rialp, J. (2019). How does sensory brand experience

influence brand equity? Considering the roles of customer satisfaction, customer

affective commitment, and employee empathy. Journal of Business Research, 96,

343-354.

Keller, K. L., Aperia, T., & Georgson, M. (2008). Strategic brand management: A

European Perspective. New York: Pearson Education.

Khan, A. B., Zainuddin, Z., & Md-Jadi, D. (2018). Overview of Insurance Sector in

Pakistan during the economy instability and Global Financial Crisis. International

Journal of Business Management and Commerce, 3(2), 7-13.

Kim, N., Chun, E. and Ko, E. (2017), “Country of origin effects on brand image, brand

evaluation, and purchase intention: A closer look at Seoul, New York, and Paris

fashion collection”, International Marketing Review, 34(2), 254-271.

Kim, S., Jang, J., & Kim, I. (2021). The role of passengers’ involvement in cause related

marketing: Moderated mediation effects of brand attitude and brand

consciousness in the airline industry. International Journal of Sustainable

Transportation, 15(10), 1-22.

Ko, W. H., & Chiu, C. P. (2008). The relationships between brand attitude, customers’

satisfaction and revisiting intentions of the university students–a case study of

coffee chain stores in Taiwan. Journal of Foodservice Business Research, 11(1),

79-95.

Lee, S., Han, H., Radic, A., & Tariq, B. (2020). Corporate social responsibility (CSR) as

a customer satisfaction and retention strategy in the chain restaurant sector.

Journal of Hospitality and Tourism Management, 45, 348-358.

Liao, Y. K., Wu, W. Y., Amaya Rivas, A. A., & Lin Ju, T. (2017). Cognitive, experiential,

and marketing factors mediate the effect of brand personality on brand equity.

Social Behavior and Personality: An International Journal, 45(1), 1-18.

Lin, Y. H., Lin, F. J., & Wang, K. H. (2021). The effect of social mission on service

quality and brand image. Journal of Business Research, 132, 744-752.

Liu, M. T., Wong, I. A., Tseng, T. H., Chang, A. W. Y., & Phau, I. (2017). Applying

consumer-based brand equity in luxury hotel branding. Journal of Business

Research, 81, 192- 202.

Machado, J. C., Vacas-de-Carvalho, L., Azar, S. L., Andre, A. R., & dos Santos, B. P.

(2019). Brand gender and consumer-based brand equity on Facebook: The

mediating role of consumer-brand engagement and brand love. Journal of

Business Research, 96, 376-385.

Marques, C., da Silva, R. V., Davcik, N. S., & Faria, R. T. (2020). The role of brand

equity in a new rebranding strategy of a private label brand. Journal of Business

Research, 117, 497-507.

Oliver, R. (1980). A cognitive model of the antecedents and consequences of satisfaction

decisions. Journal of Marketing Research, 17(4), 460–469.

Pasha, A. T., Hamid, K. A., & Shahzad, A. (2017). Moderating effect of self-efficacy and

impact of career development practices on career success under the mediating role

of career commitment in the insurance sector of Pakistan. The Journal of Internet

Banking and Commerce, 22(1), 1-22.

Paul, J., & Bhakar, S. (2018). Does celebrity image congruence influences brand attitude

and purchase intention?. Journal of Promotion Management, 24(2), 153-177.

Ramesh, K., Saha, R., Goswami, S., & Dahiya, R. (2019). Consumer’s response to CSR

activities: Mediating role of brand image and brand attitude. Corporate Social

Responsibility and Environmental Management, 26(2), 377-387.

Rivera, J. J., Bigne, E., & Curras-Perez, R. (2019). Effects of Corporate Social

Responsibility on consumer brand loyalty. Revista Brasileira de Gestão de

Negócios, 21(3), 395-415.

Sadrabadi, A. N., Saraji, M. K., & MonshiZadeh, M. (2018). Evaluating the Role of

Brand Ambassadors in Social Media. Journal of Marketing Management and

Consumer Behavior, 2(3).1-19.

Sanny, L., Arina, A., Maulidya, R., & Pertiwi, R. (2020). Purchase intention on Indonesia

male’s skin care by social media marketing effect towards brand image and brand

trust. Management Science Letters, 10(10), 2139-2146.

Sawaftah, D., Calıcıoglu, C., & Awadallah, R. (2020). The relationship between viral

marketing and consumer purchase intention, the moderator role of brand image

and age: Evidence from smartphone users in North Cyprus. Management Science

Letters, 10(6), 1307-1320.

Sinclair, R., & Keller, K. L. (2017). Brand value, accounting standards, and mergers and

acquisitions: The Moribund Effect. Journal of Brand Management, 24(2),

178-192.

Surucu, O., Ozturk, Y., Okumus, F., & Bilgihan, A. (2019). Brand awareness, image,

physical quality and employee behavior as building blocks of customer-based

brand equity: Consequences in the hotel context. Journal of Hospitality and

Tourism Management, 40, 114-124.

Takaful, D. (2019). Insurance industries in Pakistan. Retrieved from https://www

.dawodtak aful.com/InsuranceIndustryinPak.aspx

Theurer, C. P., Tumasjan, A., Welpe, I. M., & Lievens, F. (2018). Employer branding: a

brand equity‐based literature review and research agenda. International Journal

of Management Reviews, 20(1), 155-179.

Wang, Z., Asghar, M. M., Zaidi, S. A. H., Nawaz, K., Wang, B., Zhao, W., & Xu, F.

(2020). The dynamic relationship between economic growth and life expectancy:

Contradictory role of energy consumption and financial development in Pakistan.

Structural Change and Economic Dynamics, 53, 257-266.

Waseem-Ul-Hameed, M. A., Ali, M., Nadeem, S., & Amjad, T. (2017). The role of

distribution channels and educational level towards insurance awareness among

the general public. International Journal of Supply. Chain. 6(4), 308-323.

Yodpram, S., & Intalar, N. (2020). Conceptualizing eWOM, Brand Image, and Brand

Attitude on Consumer’s Willingness to Pay in the Low-Cost Airline Industry in

Thailand. Multidisciplinary Digital Publishing Institute Proceedings, 39(1),

27-35.

Zhang, M., Li, L., Ye, Y., Qin, K., & Zhong, J. (2020). The effect of brand

anthropomorphism, brand distinctiveness, and warmth on brand attitude: A

mediated moderation model. Journal of Consumer Behaviour, 19(5), 523-536.

Zhang, H., Zheng, X., & Zhang, X. (2020). Warmth effect in advertising: the effect of

male endorsers’ warmth on brand attitude. International Journal of Advertising,

39(8), 1228-1251.

Gordon, S. & James, J. (2014) The Impact of Brand Equity Drivers on Consumer-based

Brand Equity in Sport Service Selling

Hosseini, M. H. ., & Moezzi, H. (2015). Exploring Impact of Marketing Mix on Brand

Equity in Insurance Industry (Case Study: Asia Insurance Firm, Iran). Journal of

Asian Scientific Research, 5(1), 38–45.

Keller, K.L. (2003), Strategic Brand Management: Building, Measuring and Managing

Brand Equity, 2nd Ed, Prentice Hall, New Jersey.

Gordon, G.L., Calantone, R.J. and di Benedetto, A.C. (1993) “Brand equity in the

businessto-business sector: An exploratory study”, Journal of Product and Brand

Management, Vol 2 No 3, pp. 4-16.

Rosenbroijer, C.J. (2001) “Industrial brand management: A distributor’s perspective in

the UK fine-paper industry”, Journal of Product and Brand Management, Vol 10

No 1, pp. 7- 25.

Morris, M.H., Berthon, P. and Pitt, L.F. (1999) “Assessing the structure of industrial

buying centres with multivariate tools”, Industrial Marketing Management, Vol 28

No 3, pp. 263- 276.

Ghingold, M. and Wilson, D.T. (1998) “Buying centre research and business marketing

practice: Meeting the challenge of dynamic marketing”, The Journal of Business

and Industrial Marketing, Vol 13 No 2, pp. 96-108.

Low, J. and Blois, K. (2002) “The evolution of generic brands in industrial markets: The

challenges to owners of brand equity”, Industrial Marketing Management, Vol 31

No 5, pp. 385-392.

Mudambi, S., Doyle, P. and Wong, V. (1997) “An exploration of branding in industrial

markets”, Industrial Marketing Management, Vol 26 No 5, pp. 433-446.

Thompson, K.E., Knox, S.D. and Mitchell, H.G. (1997/1998) “Business to business

brand attributes in a changing purchasing environment”, Irish Marketing Review,

Vol 10 No 2, pp. 25-32.

Bendixen, M., Bukasa, K.A. and Abratt, R. (2004) “Brand equity in the
 business-tobusiness market”, Industrial Marketing Management, Vol 33 No 5, pp.

371-380.

Mitchell, V.W. (1995) “Organisational risk perception and reduction: A literature

review”, British Journal of Management, Vol 6 No 2, pp. 115-134.

Hogg, G., Carter, S. and Dunne, A. (1998) “Investing in people: Internal marketing and

corporate culture”, Journal of Marketing Management, Vol 14 No 8, pp. 879-895.

Kennedy, S.H. (1977) “Nurturing corporate images”, European Journal of Marketing, Vol

11 No 1, pp. 120-164.

Tilley, C. (1999) “Built-in branding: How to engineer a leadership brand”, Journal of

Marketing Management, Vol 15, pp. 181-191.

Selnes, F. (1993) “An examination of the effect of product performance on brand

reputation, satisfaction and loyalty”, European Journal of Marketing, Vol 27 No 9,

pp. 19- 35.

Shaw, J., Giglierano, J. and Kallis, J. (1989) “Marketing complex technical products: The

importance of intangible attributes”, Industrial Marketing Management, Vol 18

No 1, pp. 45-53.

Hutton, J.G. (1997) “A study of brand equity in an organisational-buying context”,

Journal of Product and Brand Management, Vol 6 No 6, pp. 428-439.

Zajas, J. and Crowley, E. (1995) “Commentary: Brand emergence in the marketing of

computers and high technology products”, Journal of Product and Brand

Management, Vol 4 No 1, pp. 56-63.

Aaker, D.A. and Jacobson, R. (2001) “The value relevance of brand attitude in

hightechnology markets”, Journal of Marketing Research, Vol 38 No 4, pp.

 485-494.

Computation from microdata of the family income and expenditure survey (FIES),

PSA(2016A), Making use og thresholds from Albert Et At (2018a)

Projected Population, by Age Group Sex, and by single-calendar year interval,

Philippines: 2010 - 2020 (Medium Assumption), psa.gov.ph.

2017 Philippine standard classification of education, psa,gov.ph

Questionnaire

​ THE EFFECTS OF BRAND EQUITY ON PURCHASE INTENTION ON CAR

INSURANCE

Direction: Please fill the blanks with the needed information or put a check (✔) mark on the
space before the item that corresponds to your appropriate answer.

Part 1 - Personal Information

Name (Optional):_______________________________________

1.Gender

____ Male

____ Female

2. Age of the respondents (PSA 2020)

____19 below
____20 - 24
____25 - 29
____30 - 34
____35 - 39
____40 - 44
____45 - 49
____50 - 54
____55 - 59
____60 above

3. Highest educational attainment (PSCED 2017)

____ Highschool graduate

____ Undergraduate
____ Vocational Courses
____ Bachelor’s degree
 ____ Masteral degree
____ Doctoral degree

4. Monthly household Income (FIES 2018)

_____ Less the PHP 11,690

_____ Between PHP 11,690 – PHP 23,381
_____ Between PHP 23,381 – PHP 46,761
_____ Between PHP 46,761 – PHP 81,832
_____ Between PHP 81,832 – PHP 140,284
_____ Between PHP 140,284 – PHP 233,806
_____ At least PHP 233,807

5. Do you own car insurance? Yes or No. If yes please specify?

Alpha Insurance & Surety Bethel General Insurance and Charter Ping An Insurance
company inc. Surety Corporation Corporation

Cibeles Insurance Commonwealth Insurance Corporate Guarantee and

Corporation Company Insurance

Country Bankers Insurance Empire Insurance company FPG Insurance

Corporation

Fortune General Insurance Intra-Strata Assurance Malayan Insurance Company

Corporation

MAPFRE Insular Insurance Mercantile Insurance Milestone Guaranty and

Corporation Corporation Assurance Corp.

New India Assurance Oriental Assurance Pacific Union Insurance

Corporation Company

Paramount Life and General Perla Insurance Philippine British Assurance

Insurance Corporation Company

Pioneer Insurance and Surety PNB General Insurers Co. Prudential Guarantee and
Corporation Assurance, Inc.

BE Seaboard Insurance SGI Philippines General Standard Insurance

Insurance Co. Inc.

Sterling Insurance Company Stronghold Insurance UCPB General Insurance

Inc. Company, Inc. Company
 Western Guaranty Others please specify.
Corporation _____________________

Part II: Brand Equity

Direction: Please answer each item and put a check (✔) mark on the box that best reflects your
level of agreement or disagreement with the statement.

Neither
Brand Equity Components Strongly Disagree Agree Agree Strongly
Disagree or Agree
Disagree

Brand Awareness:
Awareness

I can recognize some

characteristics of my
insurance company.

I can differentiate my
insurance company from
others.

My insurance company
comes up first in my mind
when I want to purchase car
insurance.

When I see an advertisement

about car insurance, I always
think of my car insurance
company first.

When I think of my insurance

company I can recognize the
brand name immediately.

Brand Association:
Perceived Value

This company provides good

value for the money.
The quality service of this
company is reliable.

I am proud to own a car

insurance from this company.

What I get from this

insurance company is worth
the cost.

This insurance company is

dependable.

Brand Association: Brand

Personality

This insurance company

matches my personality.

I can quickly recall the

symbol or logo of this
insurance company.

I have a clear image of the

type of person who would
buy from this insurance
company.

I can remember advertising

this car insurance company.

I believe that getting this car

insurance company can
reflect my image.

Perceived Quality: Product

Quality

I can expect superior services

from this insurance company.

The service quality of this

brand is very high.

In terms of overall service

quality, I would rate this car
insurance company high.
This car insurance company
is reliable.

The service quality of a car

insurance company is the
most important in purchasing
car insurance.

Perceived Quality:
Leadership

This car insurance company

is a service quality leader
within its service quality
category.

Ths car insurance company is

reliable.

I don't have difficulties in

finding the information that I
need from this insurance
company.

This car insurance company

is better as compared to
others in terms of its service
features.

This car insurance company

always develops new
services.

Brand Loyalty: Price

Premium

I will definitely purchase this

car insurance company
although its price is higher
than other companies that
offer similar benefits.

I will not purchase from other

insurance companies if my
car insurance company is
available.
I intend to purchase from this
car insurance company and
anything from the product
category that the company
belongs to.

This car insurance company

would be my first choice.

I would purchase from this

car insurance on the next
opportunity.

Brand Loyalty: Satisfaction

I am very satisfied with my

current car insurance.

I am likely to select the same

car insurance when
purchasing a new car.

I would recommend this car

insurance to others.

If this car insurance is not

available, I can wait for it
without switching to another
car insurance company.

I am delighted with any of

my experience with this car
insurance.

Consumer’s purchase
intention

Consumer’s purchase
intention towards car
insurance

I intend to get car insurance

from this company.

If I have an opportunity, I
would suggest my relatives,
friends or acquaintances to
purchase this car insurance.

If I plan to purchase a car, I

intend to repurchase on this
insurance company

I intend to purchase this car

insurance again than others.

I would like to purchase this

car insurance again.

Thank you!