Customer Based Brand Equity of Passenger Cars: An Analytical Study

Abstract

Customer Based Brand Equity model provides a blue print for the steps involved in building a strong brand. Customer based brand equity is an appropriate concept for studying brand equity because it is directly linked with the customer behaviour and their attitudes. Customer Based Brand Equity occurs when the consumer has a high level of awareness and familiarity with the brand and holds some strong, favourable, and unique brand associations in memory. Customer Based Brand Equity model lays out a series for building a strong brand equity which are:  i) establish the proper brand identity ii) create the appropriate brand meaning. iii) elicit positive brand responses, and, iv) forge strong brand relationship with the customers,  Customer Based Brand Equity results in the creation of a strong brand and this is achieved when the brand awareness and the image are at high level and add value to the customers. The data have been collected through interview schedule and primary in nature. The statistical tools namely, Descriptive statistics, Chi-square and Kendall's coefficient concordance has been used for analyzing the data. The study aims to examine the relationship between the demographic factors and product related factors of passenger cars. The study reveals price plays pre-dominant role in the purchase of the cars.