A Study on the Brand Equity in the India Automobile Industry of Car Market

A Study on the Brand Equity in the India Automobile Industry of Car Market

Abstract

Nowadays, brands play an important part in our economy and society, serving as cultural accessories as well as personal ideologies. The process of establishing a brand is a value addition method that demonstrates an image of a product, business, or nation in general. Given that many new vehicle manufacturers have become widely recognized in India in recent years, the car sector has been selected to properly examine the issue. The goal of this study is to identify brand equity valuation models for the automobile industry. 

According to the findings of the study, brand loyalty and brand preference play an important role in the development of brand equity. In order for customers to understand and appreciate the actual image of the business, the brand equity components must be rational in their behavior. The research provides real findings of brand equity variables with specific implications for the Indian automotive industry.

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Introduction

Brand equity is the value added to a product as a result of its brand name, which adds to the company's long-term profitability company. The Indian automotive industry is ranked 11th in the world, with about two million units manufactured each year. The Indian automotive sector is also one of the most rapidly expanding industrial industries in the world. Following India's independence in 1947, the public and commercial sectors collaborated to develop the automobile component manufacturing business. This industry was created to fulfil the demands of the automotive sector.


Conclusion

The well-developed Asker's model of brand equity was utilise in this research to examine the antecedents of consumer purchase intention. This research has contributed to the existing body of knowledge in brand management by using a well-known brand equity framework to identify potential predictors of consumer purchase intention in the setting of a developing nation, namely India. The research yielded conflicting results. Some of the results supported previous research' conclusions, while others did not. 

For More Details About a Study on the Brand Equity in the India Automobile Industry of Car Market Please Visit Our Website


Or call us +91 9481545735

In contrast to prior research, this study discovered that just one aspect of brand equity (i.e. perceived quality) had a positive and direct impact on customer purchase intention. The study's results have important implications for marketing managers who are in charge of creating marketing strategies for their company's brands.

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