5 Conclusion
Through structural equations and multiple regression models, this study verifies the influence mechanism of perceived product innovativeness on brand loyalty and the moderating effect of consumer innovativeness on it. The main results are as follows: (1) perceived product innovativeness will not only have a significant positive impact on brand loyalty, but will also have a positive effect on brand loyalty indirectly through the mediating variables of brand image and customer perceived value. The influence paths are as follows: “perceived newness → brand loyalty”,“perceived meaningfulness → brand loyalty”, “perceived newness → brand image → brand loyalty”, “perceived meaningfulness → brand image → brand loyalty”, “perceived newness → customer perceived value → brand loyalty”, “perceived meaningfulness → customer perceived value → brand loyalty”, “perceived newness → brand image → customer perceived value → brand loyalty”, “perceived meaningfulness → brand image → customer perceived value → brand loyalty”. (2) Consumer innovativeness positively regulates the impact of perceived product innovation on brand image; this conclusion may be because brand image is directly influenced by the factors of perceived product innovativeness, or, alternatively, it may be that higher consumer innovativeness means understanding the significance of product innovativeness more easily. In any event, consumer innovativeness has no significant moderating effect on perceived product innovation and brand loyalty.
This article has reference value for enterprises. (1) Enterprises should not only increase R&D investment and accelerate the development of new products, but also should increase marketing efforts to ensure that consumers can subjectively feel the product innovativeness. The coordination of these two tactics, not only lead to the development of enterprise products favored by consumers, but also can effectively increase the utilization efficiency of enterprise resources. (2) Enterprises should pay more attention to the user experience of products in brand building. The product can allow consumers to experience products’ newness, enable consumers to understand the real value of purchasing the products, and effectively enhance the corporate brand image. An innovative image of the brand will enhance its position in the hearts of consumers, leading to consumers loyal to the brand. (3) Highly innovative consumers have a higher perception of product innovativeness compared to low- innovative consumers; therefore, enterprises should be concerned about the high innovation group when choosing appropriate target markets, because this group is more likely to improve brand loyalty through subjective experience of product innovativeness.
