Assessing the Impact of Brand Equity on Purchase Intention: (With Special Reference to the Franchised Fast Food Industry in Sri Lanka)
Loading...
Date
2016
Authors
Journal Title
Journal ISSN
Volume Title
Publisher
Uva Wellassa University of Sri Lanka
Abstract
In present context with modern lifestyle, franchised fast food has been highly popularized despite the fact that relatively small number of sellers in a local context. Fast food could be considered as most consumed foods in the Quick Service restaurant format due to its unique attributes such as convenience, taste and less price. The franchised fast food industry in Sri Lanka is yet to be defined, as there is no clear demarcated line to separate from the other fast food outlets, which is available in Sri Lanka. Apart from the purchasing power one may possess, this paper attempts to identify other factors that influence for individual choice of franchised fast food brands. The objective of the paper is to identify the prominent dimensions of brand equity and areas that should be considered to develop purchase intention in the franchised fast food market. The convenient random sampling method has been adopted and 150 respondents in Colombo and Gampaha districts were investigated with the aim of identifying the impact of brand equity on purchase intention. A structured questionnaire administered to collect primary data. Descriptive statistics and Regression had been used as analytical methods. According to the findings, Brand awareness represents the highest mean value of the distribution and demonstrates the brand awareness as most influence on consumer purchase intention of the franchised fast food product. The regression model reflects 78.9% of the R square value and confirmed brand equity is a strong predictor of purchase intention. As managerial implications, the study helps to identify the level at which each of selected brand equities is apparent to the customer at the customer's point of view, thus enabling them to make evaluations with regard to the level to which the organizational communication is reflecting the brand equity and its effectiveness. UltiMately the management must cater more on strong brand building Strategies and communicating the ppsitioning of the food products on the consumer's mind.
Description
Keywords
Entrepreneurship And Management Degree Programme