The Pros And Cons Of Consumer Buying Intention

Brand equity is a business having the clout and power of its product(s) to leverage that equity or clout for its need to raise capital or increase customers. Developing brand equity is important because it allows companies to interact with their customers in order to induce loyalty which increases the growth of a company. Every company, established ones as well as start-ups have the ability to create brand equity. It is especially important for start-ups because in the first step of business, they would want to ensure that

Kotler and Keller (2012, pp. 271-272) maintain that there are three main sets of brand equity drivers:

One thing that can make or break a company is its brand equity. Brand equity is the value that comes with the familiarity with a company’s branding and the feelings consumers have towards that brand (Brand Equity, n.d.). A company with strong brand equity usually gives consumers a sense of reliability and value; causing a higher inclination to purchase its products. It usually takes

In practice, the studies adjust the intention scores by analyzing the actual purchase behavior of consumers whose purchase intentions have been measured previously. For example, the popular ACNielsen BASES model forecasts aggregate purchase rates by applying conversion rates to measured purchase intentions (e.g., it assumes that 75% of consumers who checked the top purchase-intentions box will actually purchase the product). To obtain these conversion rates, BASES uses previous studies that measured the purchase intentions of consumers and then tracked their actual purchases. However, a limitation of these studies is that they focus on the internal rather than the external accuracy of purchase-intention measures. That is, the studies measure the improvement in the ability to forecast the behavior of consumers whose intentions they previously measured, not the behavior of consumers whose intentions they did not measure. Therefore, the studies assume that they can extrapolate the intention–behavior relationship of nonsurveyed consumers on the basis of the relationship that surveyed consumers exhibit. In doing so, the studies ignore the Intentions and Predicting Behavior / 1

Understanding consumer buying behavior entails marketing, relationships, and consumer behavior. Consumer behavior comprises all the consumer decisions and activities connected with the choosing, buying, using and disposing of goods and services. Marketers must pay very close attention to consumer behavior that occurs before the purchase and after the particular product has been used. Studying consumer habits is one of the steps in marketing search and analysis. In addition to other basic principles of consumer buying habits, marketers also need to study the decision and actions of real people. Until recent history the study of consumer behavior was focused on generalized consumer decisions. With

Consumer behaviour is the study of how individuals, groups and organizations select, buy, use and dispose of goods, services, ideas or experiences to satisfy their needs and wants. The emerging costumer trends play an important role in analysing the marketing opportunities. A consumer buying behaviour is influenced by cultural, social and personal factors. The consumer passes through five stages of the buying decision process: Problem Recognition, Information Search, evaluation of alternatives, purchase decision and post purchase behaviour. This model is important for anyone making marketing decision and customer pass through all stages in every purchase.

A name, term, sign, symbol, or design, or a combination of them, intended to identify the goods or services of one seller or group of sellers and to differentiate them from those of competitors.

The brand loyalty of the customer base is often the core of a brand's equity. If customers are indifferent to the brand and, in fact, buy with respect to features, price, and convenience with little concern to the brand name, there is likely little equity. If, on the other hand, they continue to purchase the brand even in the face of competitors

Aaker (2002:68) defines brand identity as: “A unique set of brand associations that the brand strategist aspires to create or maintain. These associations represent what the brand stands for and imply a promise to customers from organization members.”

Brand awareness is a fundamental attribute of customer brand equity. It tends to be an underestimated component of brand equity (Tong & Hawley, 2009). Brand awareness includes two elements which are brand recall and brand recognition. According to Aaker (1996) there is a positive relationship between trust, value and brand equity. Trust is the faith put into a brand with regard to its quality, consistency, etc. Value is created by providing a solution to consumers’ needs and wants in a way that the cost to the consumer is fair considering the benefits gained (Aaker,

Branding not only gives separate identity and easy recognition to the product but also creates special brand preference. Branding is an instrument of demand creation and demand retention. Brand equity refers

Brand image is the customer’s view on a product whether or not it is based from their own experience. On the other hand, brand equity is when the brand name sells itself rather than the product. Nowadays, people focus on quality meaning they rather pay more money for a product that will last a long time. One good example of a brand equity product is the famous bag Coach, this company originated from New York, USA. Although this product is being manufactured abroad

Brand equity is the added value a chosen brand name gives to the product/company beyond the functional benefit provided.

Intention to buy may be referred as a reflection of real purchase behavior [41]. The greater the purchase intention is, the greater a consumer’s desire to buy a product or service, it occurs when the consumers perceive product preference in the stage between making purchase evaluation and the actual purchase behavior [41]. Purchase intention is stimulated by external factors of decision-making, personal characteristics, consumer previous experience and customers’ preferences by experience [41].

Product- anything that can be offered to a market for attention, acquisition, use or consumption that might satisfy a want or need.