IDEAS home Printed from https://ideas.repec.org/a/rnd/arjebs/v11y2019i1p11-21.html
   My bibliography  Save this article

The Link between Brand Equity and Loyalty: Evidence from Traditional Medicine Market in Kumasi Metropolis, Ghana

Author

Listed:
  • Peter Kwasi Oppong
  • Maxwell A Phiri

Abstract

Building a vibrant brand in a highly competitive market is of strategic importance as it provides greater loyalty which generates large market share and decreases competitive pressure on a firm. However, there is a lack of empirical evidence on the role of brand equity in supporting the formation of loyalty in the traditional medicine market. The aim of this research is to investigate the impact of brand equity on loyalty in the traditional medicine market. Based on the dimensionality of Aaker`s brand equity framework, four research propositions were put forward and evaluated by using structural equation modelling. The study relied on a sample of 348 customers who buy herbal medicines from the traditional medicine market in Kumasi metropolis. The study established that perceived quality, brand association and awareness significantly contribute to enhance the value of the brands which in turn, creates loyalty in the traditional medicine market in the Kumasi Metropolis. Recognizing the strategic importance of loyalty to the success of a firm, traditional health practitioners should direct their efforts towards developing perceived quality, brand association and awareness to enhance the value of their brands to support loyalty in the Kumasi traditional medicine market.

Suggested Citation

  • Peter Kwasi Oppong & Maxwell A Phiri, 2019. "The Link between Brand Equity and Loyalty: Evidence from Traditional Medicine Market in Kumasi Metropolis, Ghana," Journal of Economics and Behavioral Studies, AMH International, vol. 11(1), pages 11-21.
    • Handle: RePEc:rnd:arjebs:v:11:y:2019:i:1:p:11-21
    DOI: 10.22610/jebs.v11i1(J).2740
    as

    Download full text from publisher

    File URL: https://ojs.amhinternational.com/index.php/jebs/article/view/2740/1802
    Download Restriction: no
    File URL: https://ojs.amhinternational.com/index.php/jebs/article/view/2740
    Download Restriction: no
    File URL: https://libkey.io/10.22610/jebs.v11i1(J).2740?utm_source=ideas
    LibKey link: if access is restricted and if your library uses this service, LibKey will redirect you to where you can use your library subscription to access this item
    ---><---

    References listed on IDEAS

    as
    1. Netemeyer, Richard G. & Krishnan, Balaji & Pullig, Chris & Wang, Guangping & Yagci, Mehmet & Dean, Dwane & Ricks, Joe & Wirth, Ferdinand, 2004. "Developing and validating measures of facets of customer-based brand equity," Journal of Business Research, Elsevier, vol. 57(2), pages 209-224, February.
    Full references (including those not matched with items on IDEAS)

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. Ernest Osei & PETER KWASI OPPONG, 2020. "The Role of Computer Education in the Behavioral Intentions to Use Information Technology in Hospitals in Kumasi, Ghana," Journal of Economics and Behavioral Studies, AMH International, vol. 12(4), pages 13-22.

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Anselmsson, Johan & Burt, Steve & Tunca, Burak, 2017. "An integrated retailer image and brand equity framework: Re-examining, extending, and restructuring retailer brand equity," Journal of Retailing and Consumer Services, Elsevier, vol. 38(C), pages 194-203.
    2. Casey E. Newmeyer & R. Venkatesh & Julie A. Ruth & Rabikar Chatterjee, 2018. "A typology of brand alliances and consumer awareness of brand alliance integration," Marketing Letters, Springer, vol. 29(3), pages 275-289, September.
    3. Dutta, Sujay & Pullig, Chris, 2011. "Effectiveness of corporate responses to brand crises: The role of crisis type and response strategies," Journal of Business Research, Elsevier, vol. 64(12), pages 1281-1287.
    4. Shapiro, Stephen L. & Reams, Lamar & So, Kevin Kam Fung, 2019. "Is it worth the price? The role of perceived financial risk, identification, and perceived value in purchasing pay-per-view broadcasts of combat sports," Sport Management Review, Elsevier, vol. 22(2), pages 235-246.
    5. Wong, Tommy & Wickham, Mark, 2015. "An examination of Marriott's entry into the Chinese hospitality industry: A Brand Equity perspective," Tourism Management, Elsevier, vol. 48(C), pages 439-454.
    6. Calvo Porral, Cristina & Martínez Fernández, Valentín Alejandro & Juanatey Boga, Oscar, 2016. "Influência da assinatura do fabricante na lealdade e intenção de compra de marcas próprias de varejista," RAE - Revista de Administração de Empresas, FGV-EAESP Escola de Administração de Empresas de São Paulo (Brazil), vol. 56(1), January.
    7. Wang, Luming & Finn, Adam, 2014. "A psychometric theory that measures up to marketing reality: An adapted Many Faceted IRT model," Australasian marketing journal, Elsevier, vol. 22(2), pages 93-102.
    8. Boisvert, Jean & Christodoulides, George & Sajid Khan, M., 2023. "Toward a better understanding of key determinants and consequences of masstige consumption," Journal of Business Research, Elsevier, vol. 161(C).
    9. Lang, Le Dang & Lim, Weng Marc & Guzmán, Francisco, 2022. "How does promotion mix affect brand equity? Insights from a mixed-methods study of low involvement products," Journal of Business Research, Elsevier, vol. 141(C), pages 175-190.
    10. Zheng Shen, 2023. "Mining sustainable fashion e-commerce: social media texts and consumer behaviors," Electronic Commerce Research, Springer, vol. 23(2), pages 949-971, June.
    11. Shir-Way Siew & Michael S. Minor & Reto Felix, 2018. "The influence of perceived strength of brand origin on willingness to pay more for luxury goods," Journal of Brand Management, Palgrave Macmillan, vol. 25(6), pages 591-605, November.
    12. Xuan Gong & Yunchan Zhu & Rizwan Ali & Ruijin Guo, 2019. "Capturing Associations and Sustainable Competitiveness of Brands from Social Tags," Sustainability, MDPI, vol. 11(6), pages 1-20, March.
    13. Chaudhuri, Arjun & Ligas, Mark, 2009. "Consequences of Value in Retail Markets," Journal of Retailing, Elsevier, vol. 85(3), pages 406-419.
    14. Mainolfi, Giada & Marino, Vittoria, 2020. "Destination beliefs, event satisfaction and post-visit product receptivity in event marketing. Results from a tourism experience," Journal of Business Research, Elsevier, vol. 116(C), pages 699-710.
    15. Fakhraddin Maroofi & Mohammad Nazaripour & Shahoo Maaznezhad, 2012. "Investigating the Service Brand, Customers Value and its Perspective," International Journal of Academic Research in Accounting, Finance and Management Sciences, Human Resource Management Academic Research Society, International Journal of Academic Research in Accounting, Finance and Management Sciences, vol. 2(4), pages 102-118, October.
    16. Kapoor, Ankur & Sahay, Arvind & Singh, Nandini C. & Chandrasekhar Pammi, V.S. & Banerjee, Prantosh, 2023. "The neural correlates and the underlying processes of weak brand choices," Journal of Business Research, Elsevier, vol. 154(C).
    17. Menictas, Con & Wang, Paul Z. & Louviere, Jordan J., 2012. "Assessing the validity of brand equity constructs," Australasian marketing journal, Elsevier, vol. 20(1), pages 3-8.
    18. Huynh, Cong Minh & Nguyen, Phan Kim Han, 2024. "Factors Influencing Customers’ Loyalty: An Empirical Study for the Milk Industry in Vietnam," MPRA Paper 120346, University Library of Munich, Germany.
    19. Coderre, François & Sirieix, Lucie & Valette-Florence, Pierre, 2022. "The facets of consumer-based food label equity: Measurement, structure and managerial relevance," Journal of Retailing and Consumer Services, Elsevier, vol. 65(C).
    20. Chao-Hung Wang & Li-Chang Hsu & Shyh-Rong Fang, 2009. "Constructing a relationship-based brand equity model," Service Business, Springer;Pan-Pacific Business Association, vol. 3(3), pages 275-292, September.

    More about this item

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:rnd:arjebs:v:11:y:2019:i:1:p:11-21. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Muhammad Tayyab (email available below). General contact details of provider: https://ojs.amhinternational.com/index.php/jebs .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.