Empirical Evidence on Dynamic of Brand Equity: Indian Car Industry
A brand is defined as a specific name, symbol or design or, more usually some combination of these, that is used to distinguish a particular seller’s product. Today with a considerable change over time, there is an increase in modern and sophisticated branding of both tangibles and intangibles. Brands, particularly those that are high in brand equity (value of the brand) can be organizations most powerful assets. Survey method has been adopted to elicit the views of local and global brand car owners. The customers’ preference towards local and global brands is studied by administering structured interview schedule with 200 customers in Puducherry city. In time when competition is getting passionate, it is imperative for the firm to seriously evaluate factors that are not only important in creating strong brand equity but also assist them in achieving customer satisfaction and loyalty. The results of the study shows that brand preference and brand loyalty play an important role in creating brand equity. These components of brand equity must be coherent in their actions so that consistent image of the firm is realized and valued by customers.