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Significance of Marketing Mix in Brand Equity - Research Paper Example

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Using 5-point Likert scale survey questionnaires, this paper "Significance of Marketing Mix in Brand Equity" aims to determine how the marketing mix (4P’s) could affect perceived quality in a Starbucks coffee, brand association, brand awareness, and brand loyalty and how these four factors affect consumers’ response…
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Download file to see previous pages Brand management is one factor that contributes to the success of a business. Managers could increase a company’s brand equity by preventing the business from becoming vulnerable to market competition (Yoo et al. 2000).
Marketing activities increase brand equity. Using Levene’s test on the homogeneity of variances, this report will examine how the marketing mix (4P’s) could significantly affect perceived quality in a Starbucks coffee, brand association, brand awareness, and brand loyalty. Eventually, the relationship between product, brand association, brand awareness, and brand loyalty with the consumers’ response will be identified.   Significance of Marketing Mix (4P’s) in Brand Equity
Brand equity is referring to the positive perception consumers have over a given brand. In line with this, marketing managers can contribute to satisfied consumers through effective marketing intervention (Keller 2003). In a market place that is readily accessible to consumers, the ability of marketing managers to offer high-quality products at a reasonable price could significantly increase consumers’ perceived quality, brand association and brand awareness (Ailawadi, Lehmann and Neslin 2003).
Yoo et al. (2000) revealed that perceived quality, brand loyalty, brand association, and brand awareness are parts of developing strong brand equity. In line with this, marketing managers can effectively create brand awareness by creating an attractive store image or by offering affordable prices of goods. As a result, establishing strong brand equity, companies are able to keep their target consumers loyal to the brand.  ...Download file to see next pagesRead More
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