Perceptional Components of Brand Equity and its Influence on Satisfaction, Brand Loyalty and Purchase Intention: a Case of Jamu Amongst Gen-Z in Indonesia International Institute For Life Sciences

Abstract

Brand loyalty and consumer purchase intentions are crucial to company and marketing strategy as it contributes to competitive advantages for the businesses. Although the consumer brand relationships are complicated to conjecture, it will be insightful on research into this phenomenon. In Indonesia, Jamu industry presents a tremendous market opportunity, and intensified competition offers an opportunity for the study on brand equity. Research on measuring brand equity will contribute to marketers as they will get additional insights into developing practical relationship-building strategies intending to nurture Jamu brand equity. Based on an examination of related literature, a conceptual model was formed by the researcher to examine the relationship of perceptional components of brand equity on satisfaction, brand loyalty, and purchase intention. The study aims to examine the relationship between perceptional components of brand equity and behavioral components of brand equity. Furthermore, this study analyzed the relationship between satisfaction, brand loyalty, and purchase intentions. Mix-method has been utilized in this study. The measures for perceptional components of brand equity for Jamu has been investigated through the in-depth interview with students of i3L (Indonesian International Institute for Life Sciences), Whereas, measures for behavioral components of brand equity is derived from literature review, which comprise of brand loyalty and purchase intention. The data have been collected in an academic institution namely, Indonesia International Institute for Life Sciences (i3L) through in-depth interviews and survey for qualitative and quantitative studies respectively. Most of the hypothesis gains support in the current investigation. The relationship between the perceptional components of brand equity, brand loyalty, purchase intention, and satisfaction is partially supported, whereas the relationship between satisfaction, brand loyalty, and purchase intention is fully supported.