CONSUMER-BASED BRAND EQUITY ON A CONSUMER- PACKAGED GOOD INDUSTRY: CASE STUDY ON VINAMILK

Brand is the most valuable long-term asset for the firms. To manage the brand strategically is important and challenging. In this paper we extend an existing approach to advance and examine a combinatory model namely brand passion, perceived quality, brand association with awareness, perceived ads spending, and price promotion on brand equity. The accuracy is evaluated by the conceptual model and offered hypotheses. The method is illustrated analysis a sample of 296 customers by using a structured survey as a data collection instrument. The model was used to examine the hypothesized relationship among the constructs. The most accurate readings are obtained from indicate strong connections between price deals and perceived quality, brand passion and brand equity. Keyword: brand equity, brand passion, dairy goods, Vietnam 1.INTRODUCTION Despite for year philosophers are trying to analyze shoppers' attitude towards brands, in the last several years, purchasers a brand have been gaining crucial regard among one by one scientist and specialist [1]. In a competitive market, building brand equity is a challenging task for companies. Organizations with limited resources must prioritize and allocate resources for important elements of brand equity. On the customer side, the consciousness to buy a product from the familiar brand is increasing. In order to maintain the trust and association a customer towards the brand, the timely awareness of the brand have become a good tool. Whenever customers come to buy goods than the brand name has come in their mind. Unlike peer brands in the market, customers usually unchanged purchase multiple goods when they have higher brand awareness [2]. Moreover, it involves the CPG market where seen a rapidly growing industry to lead a new trend followed by middle-aged shoppers (i.e. those who have a family), and young customers. In the Vietnam market, the variety of foreign brands will be seen like Abbott, Frieslandcampina, Mead Johnson, Nutifood, and so on. In the current situation, the marketers are dealing call into the challenge of how they can be a lot of well-run focus on dairy products for young buyers. As a consequence of these reasons, a shopkeeper recognizes all-important to an extent their brand equity. Hence, domestic brand marketer ought to determine their influences and defects in the use of brand equity since improving them as much as possible. 2.LITERATURE REVIEW 2.1. The relationship between advertising spending, price deals, and consumer-based brand equity Regarding the plays of marketing activities in the consumer-packaged goods (CPG) industry, [3] has confirmed that advertising and promotion have an important impact on a brand property of fast-moving consumer goods (FMCG). In addition, the reality of CPG in the Can Tho market shows that (i) Consumers in the city have a low standard of living as that why they are very fond of promotions. Hence, promotional activities play a role in the competitive. (ii) The awareness of Can Tho people for Vinamilk is obvious. Thus, the company to invest heavily in advertising to keeping in the © IJCIRAS | ISSN (O) 2581-5334 February 2019 | Vol. 1 Issue. 9 IJCIRAS1114 WWW.IJCIRAS. COM 57 consumers mind. Initial attempts focused on identifying the ads and price deals to represent marketing activities to clarify the components of brand equity and their relationship. 2.2. Advertising spending This study investigated the use of advertising cost on consumers’ perception of frequency and attractiveness of the types of advertising that Vinamilk is implementing. In addition, advertising were elements on marketing mix as a form of intentional information transmission to change perceptions, attitudes, thereby changing the behavior via television, a newspaper, an internet and is measured by brand association. are describe advertising have a crucial role in increasing brand salience. According to [4] they were advertising completely effects on perceived product quality and later on brand equity. Cobb-Walgren et al. demonstrated brand equity has risen effect in spending advertising costs. On the whole, argued a way of identifying a forward-looking relationship between advertising spending and perceived quality. Furthermore, advertising spending is positively involved with the brand awareness of the brand association which is climbed brand equity H1a: advertising spending positively effects with BABA on Vinamilk brand H1b: advertising spending positively effects with PQ on Vinamilk brand H1c: advertising spending positively effects with BP on Vinamilk brand 2.3. Price deals Basically, supermarkets selling CPG in a general market, and the Can Tho market in particular, carried out promotions in both forms of monetary and nonmonetary. In a while to mention the impact of promotions consumer-based brand equity on CPG, which there exists a lot of mixed point of views. Specifically, some studies have confirmed this relationship. [5] discovered that the sale promotion seems likely to erode brand equity in the fall in time. However, it helps to add to income arises in a shorttime. Furthermore, Koler (2018) found that both promoting events and long-term of a goal can provide powerfully desired and unique connections. On the other hand, price reduction in a short-term period would not bring an amount of percentage on brand equity, even if they increase the sale [5, 6]. H2a: Price deals positively effects with BABA on Vinamilk brand H2b: Price deals positively effects with PQ on Vinamilk brand H2c: Price deals positively effects with BP on Vinamilk brand 2.4. A consumer-based brand equity Brand Association with Brand Awareness (BABA) As reported by [5], brand awareness is the ability of a future buyer to determined and distinguished the characteristics of a brand in the market. When a consumer decides to use a product of a certain brand, they must recognize a brand before. Thus, brand awareness is the first component of consumer products to classify in order to classify brand categories in the competitive market. In addition, brand associations through the creation of feeling and a positive attitude in the minds of consumers has contributed to increased brand equity and an intended impact on buying. Firstly, it creates a link between the buyer and the brand. Also, brand awareness plays a crucial role in buyers' decision making [2]. In the current context, brand awareness affects attitudes where to drive brand passion and brand loyalty. Secondly, a brand association is a mental link between buyers and a brand. According to [7], the factors in brand association serve in the build brand image. [8] demonstrated brand images can be viewed as consumer perceptions, arguments, or emotions associated with specific brands. As an evidence consumer not only buy a product but also added the image of the product as power, wealth, sophistication. Generally speaking, the brand image consists of functional and symbolic of brand beliefs. Most importantly, it to help identification and connection with another user of the brand [9]. Thirdly, brand equity is also determined according to the marketing effect by itself. The result is different from product marketing to product identification due to brand factors. Finally, the business develops a new product or a new brand at these stages, it needs more brand awareness in order to create passion and association a brand. Thus, the hypotheses are proposed © IJCIRAS | ISSN (O) 2581-5334 February 2019 | Vol. 1 Issue. 9 IJCIRAS1114 WWW.IJCIRAS. COM 58 H3a: BABA positively effects with BE on Vinamilk brand. 2.5. Perceived Quality The perceived quality is based on customers' assessment. Product quality is determined on the basis of product or production orientation. When consumers feel quality of a top name brand where form they able to see the brand has more value and goodness buying. [10] claimed consumers’ feeling a product on the whole excellence or advantage could be defined perceived quality. Moreover, consumers can use these concrete attributes to judge the quality of the brand such as size, color, flavor, appearance. Hence, the hypothesis is H3b: Perceived quality positively effects with BE on Vinamilk brand 2.6. Brand Passion Brand loyalty is often approached at two angles combines both attitudinal vs behavioral loyalty. In particular, behavioral loyalty is manifested in repeat purchases, and attitudinal loyalty is intended to buy in the future, or when introduced to another buyer about products and services. Hence, any brands create loyalty higher as getting a valuable brand. In a consumption context, brand passion appears to be an intense feeling of consumers toward the brand [11, 12]. This feeling implies the consumer's willingness to form a close relationship with the brand and they are physiology arousal can from possessing or consuming brand [13]. Furthermore, brand passion combines two components willingness to buy and brand loyalty. Firstly, willingness-to-buy consists of the patron’s likelihood to shop, buy products and recommend the store to others. Price can be both needed to purchase a product and the level of quality. Higher prices lead to higher perceived quality and consequently to a greater willingness to buy. At the same time, the higher price leading to a reduced willingness to buy. Moreover, the link between perceived quality, evaluation, and choice can be explained in part by the acceptable price range concept. Buyers generally have a set of the price that is acceptable to pay for a considered purchase, rather than a single price (Monroe 1979; Monroe and Petroshius, 1981). Therefore, people do not purchase a product when they consider the price too high but also may be suspicious of the quality of a product if the price is too much below what they consider acceptable (Cooper, 1969a). The perception of value in turn directly influences willingness to buy [14]. Eventually, the hypothesis is H3c: Brand passion positivel