Conclusions
The results of the present study lead us to confirm the strong influence of brand association, brand loyalty, and perceived quality on overall brand equity, and provide strong support for the value of research on brand equity in the FMCG industry. A high proportion of variance on overall brand equity was predicted by the brand association, brand loyalty and perceived quality dimensions. The implications of this study are that it is important for managers to measure the brand association, brand loyalty, and perceived quality of FMCG brands, and further build them with the development of appropriate marketing strategies, if brand equity is to be built. This research also explored the relationship between brand equity and specific non-financial performance measure (operational performance) of business. The impact of a brand’s equity on the operational performance (market share) is substantial. The brands with higher levels of brand equity yielded substantially greater market share. The evidence that the brand equity dimensions impact differently on brand equity may help marketers allocate resources more effectively. The results from the study provide important insights for brand managers to justify the resources spent on building brand equity. Further, the study also provides some insight on the appropriateness of the brand equity model in explaining future operational performance.
