Impact of Perceived Product Value on Customer-Based Brand Equity: Marx’s Theory – Value-Based Perspective

Abstract

Management research is allocating energies to seek ways to improve organizational performance. Branding has become a significant phenomenon that academicians and scholars have studied. Improving the brand’s overall equity requires strategies that the brand managers must implement. Based on Marx’s theory, the present study attempts to determine the role of product perceived value on customer-based brand equity, brand resonance and customer affective commitment, respectively. Moreover, this study also tries to determine the mediating roles of brand resonance and customer affective commitment in the relationship between product perceived value and customer-based brand equity, respectively. For this purpose, the data were gathered from 310 customers of branding products in China. The present study applied partial least square structural equation modeling for empirical analyses using Smart PLS software. The present study’s findings acknowledge that product perceived value did not directly influence customer-based brand equity. However, results confirmed that product perceived value positively influences brand resonance and customer affective commitment. Furthermore, the outcomes of the present study also concluded that both brand resonance and affective commitment played a mediating role between product perceived value and customer-based brand equity, respectively. Theoretically, the study contributed to the literature by examining the influence of product perceived value on customer-based brand equity. The study also enriched the literature by providing key findings related to the mediating roles of brand resonance and customer affective commitment. Practically, the study is beneficial for the brands and they can enhance product perceived value by improving product design, effectively communicating product benefits, and executing effective promotional strategies.

Promotion Hurts Brand Personality and Consumer Responses

“…They assess a brand's value in relation to its price, choosing competitive pricing for high-quality goods (Verma & Gupta, 2004). Marx's valuebased marketing places a strong emphasis on moral behavior that puts the needs of society and customers first (Ye et al, 2022;Gupta et al, 2020). Luxury companies use the relationship between cost and value to uphold their high standards for both project progress and pricing.…”

Understanding the impact of fashion app emotional attachment on consumer responses: the role of e-servicescape, customer experience and perceived value of online shopping

“…Moreover, a thoughtfully designed online platform can elevate the perceived value of a product or service and make it more appealing to consumers (Jiang et al, 2022;Patel et al, Impact of fashion app emotional attachment 2020). When consumers perceive a high value proposition in a product or service, it not only addresses their functional needs but also resonates with their emotional desires and aspirations, leading to emotional attachment with the product or service (Qiao et al, 2022). Therefore, it was hypothesized as: H3.…”

The impact of brand equity drivers on brand resonance in the hospitality industry

“…Tình cảm với thương hiệu thể hiện qua cảm giác dễ chịu khi nghĩ về và tiếp xúc với thương hiệu, cũng như sự ngưỡng mộ, sự đam mê của khách hàng dành cho thương hiệu. Các nhà nghiên cứu 17,20 đã chứng minh được rằng giá trị cảm nhận về thương hiệu có ảnh hưởng tích cực đến tình cảm của người tiêu dùng với thương hiệu. Từ đây, giả thuyết nghiên cứu được hình thành: H3.…”

“…Bên cạnh đó, nghiên cứu của Qiao & đtg. 20 cũng đã chứng minh giá trị cảm nhận có ảnh hưởng tích cực đến cộng hưởng thương hiệu. Ngoài ra, Gorden & James 19 cũng đã chứng minh được rằng sự vượt trội của thương hiệu và tình cảm với thương hiệu có ảnh hưởng có ý nghĩa lên sự cộng hưởng thương hiệu trong lĩnh vực dịc vụ thể thao.…”