The Influence of Brand Awareness and Other Dimensions of Brand Equity in Consumer`s Behaviour: The „Affordable Luxury†Strategy

Brand equity is well known for playing a fundamental role in consumer`s puchasedecision,taking into consideration the fact that customers will have a more positive response whenfacing a well-known,familiar brand. The purpose of this paper is to reveal the impact of brand awareness and other brand equitydimensions such as brand loyalty,perceived quality and brand association on consumer`sbehaviour; we will try particularly try to determine in which measure the above-mentioned factorscan influence customer`s buying decisions.The study is based upon previous research studiesconducted by other authors, as well as a study case in which we will show the effects of variousmarketing strategies focusing on the respective dimensions(brand awareness,brandloyalty,perceived quality and brand association) on buyers` purchase decisions and their influenceon the overall brand image(the study will be focused upon luxury brands and their strategies toreach out and attract a larger number of consumers of wider socio-economical backgrounds,bycreatin,†affordable luxury†).