Roles and Significance of the Value of Brand Equity Constructs

Abstract

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Heightened Globalization and innovation have characterized the past few decades. Along these lines, electronic word of mouth communication has changed greatly throughout the years, in light of the current innovation and technological progressions. The internet has turned into the main impetus making it an imperative Information Technology aspect. Thus, the internet has a huge part in affecting consumers attitude and decision making processes given the clients' feedback found in the weblogs, sites, online boards, and a cohort of different sorts of user-generated content. It also becomes imperative to recall that brand equity is no longer esteemed by vast wholes of revenues that organizations contribute, but clients are directing the value of brand value by what they say to each other. Consequently, this research seeks to explore the consumers attitude, the power of electronic word of mouth, and its effects towards Brand Equity. In so doing, the research endeavor with takes a comparative approach to UAE and Egypt. The study will concentrate on assessing the parts of different brand equity constructs such as but not limited to brand loyalty, association, and awareness, in interceding the interrelation among electronic word of mouth and the measurements of brand equity. Subsequently, the primary objective of the study is to take a gander at the impact of electronic word of mouth (e-WOM) on consumers attitude and additionally inspecting the interceding impact of brand image and buyers disposition towards the brand on the relationship between e-WOM and purchase aim. In a bid to plausibly examine the estimated connections between these variables, a quantitative, empirical analysis of an online survey was carried out. This online survey will encompass a well-structured questionnaire intended to explore the connections between the variables and will be sent out to 300 respondents in Cairo the capital of Egypt and Abu Dhabi, the capital of UAE utilizing the convenience sample strategy. Furthermore, most reviews can barely be executed and connected to nations like Egypt and the UAE. Along these lines, Egypt is beneficial to be contemplated on the point of e-WOM and its impact on Brand Equity.

Keywords: Brand Equity, Consumer Attitude, Word of Mouth (WOM), Electronic Word of Mouth (e-WOM).

1.0 Introduction

The advent, spread, and revolutions of the Internet have significantly reshaped conventional communication to a more virtual communication framework evident through electronic word of mouth. Today, customers had an astounding chance to share information about their consumption experiences and to spread advice in regards to product and serviced as well as brands utilizing social network platforms and an array of web-based customer surveys CITATION DGo04 \l 1033 \m JBr07 (Godes & Mayzlin, 2004; Brown, Broderick, & Lee, 2007). As a result, these constructs must be incorporated in the pre-purchase gathering of information, and bring about coordinating purchasers disposition, impacting brand image awareness and additionally purchase attitudes and preferences CITATION CLi13 \l 1033 \m Lee12 (Lin, Wu, & Chen, 2013; Lee & Koo, 2012). Consequently, contemplating e-WOM critical impacts and the necessary power it can apply on brand equity, demeanor towards the brand development, and also its effect on consumers attitude is a fundamental logical examination that can add to past research endeavors and extend the comprehension of e-WOM impact in another social construct. Past research and studies affirm that a strong brand image is an essential aspect of consumer decision making a direction CITATION PKo09 \l 1033 (Kotler & Keller, 2009). Furthermore, a strong brand bolters its value, charging an additional premium to the brand, influences consumers attitude towards the brand, impacts purchase goals, intervenes the impact of e-WOM on these goals, and sets up a significant upper hand. Along these lines, it becomes imperative to take a gander at the staggering effect of information sharing on brand equity CITATION JCh03 \l 1033 (Chiou & Cheng, 2003). Subsequently, this comprehension necessitated this study to incorporate brand image as an intervening variable in the relationship between e-WOM and consumers attitude.

Research Importance

Today, electronic word of mouth is a focal aspect of modern-day communication. This influence and the imperative place of e-WOM has been further propelled by the heightened use of social media platforms. As a result, e-WOM influences consumers purchase choices and their decision-making processes. Furthermore, as organizations strive to remain competitive in light of the underlying global competitions, most if not all, have incorporated social media at the heart of their marketing strategies. Whats more, brand equity is no longer determined by the underlying capital investments but rather by the customers attitude and value attached to this attitude. Be that as it may, there lacks sufficient studies and empirical investigations on the relationships between consumers attitude, the power of electronic word of mouth, and its effects towards brand equity. Consequently, this study seeks to fill this research gap by carrying a comparative study in UAE and Egypt. Carrying out this research endeavor will comprehend the existing knowledge and provide an in-depth insight of the topic especially in regions where there exist negligible information databases and reference studies.

1.2 Research Aim

The primary aim of this study is to explore consumers attitude, the power of electronic word of mouth, and its effects towards Brand Equity concerning UAE and Egypt. Thus, the study will embark on a comparative approach that will take a gander at both nations perception of electronic word of mouth and their impacts. Consequently, it will be possible to draw plausible conclusions from a comparative analysis of the two nations.

1.3 Purpose of the Study

This study will embark on a path to evaluate the roles and significance of the value of brand equity constructs and the driving forces that bolster brand equity. These brand equity constructs include but are not limited to brand loyalty, brand awareness, and image that reflect consumers attitudes. In so doing, it will, therefore, be possible to determine the correlations between the variables thus making facilitating plausible conclusions.

1.4 Objectives

The research objectives include;

Defining the underlying concepts.

Identifying the effects of e-WOM on Brand Equity.

Identifying the correlation between consumers attitude, the power of electronic word of mouth, and Brand Equity.

Comparison analysis of the correlations of the variables mentioned above in UAE and Egypt.

Provide plausible conclusions, suggestions, and recommendations.

1.5 Research QuestionsWhat are the impacts of electronic word of mouth on Brand Equity?

Are the effects of Electronic Word-of-Mouth more rampant in Egypt or UAE?

What drives consumers attitude?

What is the significance of consumers attitude?

How does electronic word of mouth affect Brand Equity?

1.6 Research Boundaries

This study is limited to consumers attitude, the power of electronic word of mouth, and their effects towards Brand Equity and will carry out a comparative study in UAE and Egypt. In so doing, it will encompass an analysis of the existing theoretical framework with the end goal of drawing a deeper insight and a succinct comprehension of all the underlying concepts, their effects, and the scope of these impacts.

2.0 Literature Review

2.1 Aspects that define e-WOM

Goldsmith and Horowitz (2006) highlight the significance of the e-WOM examination as an augmentation of the conventional up close and personal communication. More research takes it further and discovers that the Internet has changed the entire meaning of conventional communication. Along these lines, the internet gives a possibility for consumers to trade ideas, suggestions, and feedback CITATION MUr94 \l 1033 (Urde, 1994). By means of taking part in electronic word of mouth, customers can hypothetically assemble unprejudiced product information from different consumers and offer their own particular utilization related advice CITATION EAt05 \l 1033 (Atilgan, Aksoy, & Akinci, 2005). e-WOM functions as a course for social impact; the procedure in which people make changes to their considerations, sentiments, attitudes, or practices subsequently of connecting with others on the web CITATION JFe12 \l 1033 (Ferreira & Raposo, 2012). Goldsmith and Horowitz (2006) confirm that purchasers appear to give and look for attitudes on the internet, comparably impacting offers of numerous products and services. Numerous scholars recognize the substance dispersion as a particular distinction amongst WOM and e-WOM communication CITATION JCh03 \l 1033 (Chiou & Cheng, 2003). This is the reason behind one of the displayed e-WOM components which is particularly supposition sharing, not just information giving and searches, as in customary WOM CITATION BYo00 \l 1033 (Yoo, Donthu, & Lee, 2000). Chiou & Cheng (2011) indicate that the sentiment passing attitude happens more probable in the online settings, as the Internet empowers multidirectional communication. Numerous studies and empirical results also concur about the presumption and find that e-WOM is the substance passed on by clientsCITATION Eag93 \t \m PKo09 \t \l 1033 (Eagly & Chaiken, 1993; Kotler & Keller, 2009). The individual passing the e-WOM message does not really make the substance shared. The expanding multifaceted nature of products and services encourage the requirement for imparting and perusing insights on the internet. This move to experience economy has its suggestions in the investigated articles too; every one of the scholars guaranteed th...