TITLE:
Research on the Influence of Customer Perceived Value on Brand Equity
AUTHORS:
Bo Yan
KEYWORDS:
Customer Perceived Value, Brand Equity, Functional Value, Functional Value
JOURNAL NAME:
American Journal of Industrial and Business Management,
Vol.9 No.3,
March
22,
2019
ABSTRACT:
As an important part of brand management, brand equity is being studied and concerned by more and more scholars and managers. The research of brand equity has experienced the change from the early stage of the company’s financial angle of view to the customer’s angle of view; this article is mainly from the latter. In the research of customer perceived value, predecessors mostly start from the perspective of functional and emotional value. The unique feature of this study is that it adds a cost perspective because the difference between what consumers get and what they pay constitutes the whole of perceived value. For customers, brand is in line with its closely linked value, and is the core factor of forming customer loyalty; for brands, customers are the foundation of brand survival and development. Customer perceived value is the direct experience in the process of consumption, which has a profound impact on consumers’ brand evaluation. Therefore, this study takes the impact of customer perceived value on brand equity as a breakthrough point, and explores the impact of three dimensions of customer perceived value on brand equity. From the perspective of increasing cost in theory, this paper examines the meaning of customer perceived value, enriches the research on the influencing factors of brand equity, and puts forward suggestions for brand management and marketing strategies of Chinese enterprises in practice. In terms of research design and methodology, this study mainly takes smartphone brands at home and abroad as the research object, and tests the hypothesis of this paper through questionnaire survey. The analysis method mainly uses reliability, validity analysis and related analysis. The results show that functional value, emotional value and cost have positive effects on brand equity. At the same time, in the process of customer perceived value impact on brand equity, the relationship between the consumer and the brand continues has been deepened, and the enterprise’s brand equity has been added. On this basis, Chinese enterprises should change the traditional concept of brand management, under the new situation, consumers, and strive to improve customer perceived value, so as to create new development opportunities for the construction and management of brand equity.