The Impact of Brand Equity on Purchase Intention: With Special Reference to the Smartphone Brands in Sri Lanka

Abstract

The strength of a brand is defined by the image that its customers have of it and thus the brand equity is a crucial component that encourages a consumer to choose a smartphone brand over another. This study aims to analyze the impact of brand equity on smartphone brands' purchase intention in Sri Lanka. The brand equity dimensions developed by Aaker (1996) were applied as the foundation for measuring brand equity. A survey-based research strategy in a cross-sectional research design was used to gather primary data and used a simple random sampling technique. For data collection, a structured questionnaire was used, and data were collected from 379 smartphone users in Sri Lanka through an online survey. The researchers used SPSS 26 Version to analyze the relationship between independent and dependent variables and PROCESS v3.0 for SAS was used to analyze the mediating impact. The findings revealed that there is a positive impact of brand equity on purchase intention which is mediated by brand preference. Brand awareness, perceived quality, and brand loyalty have a significant and positive impact on purchase intention except the brand association. The brand association has no significant impact on purchase intention. Therefore, the marketers of smartphone brands in Sri Lanka should focus their marketing strategies on increasing brand awareness, perceived quality, and brand loyalty of linked brands, as well as increasing consumer preferences for the brands to increase purchase intention.