MEASURING CUSTOMER BASED BRAND EQUITY: EVIDENCE FROM HERO MOTOCORP TWO WHEELERS IN TAMILNADU

Abstract

Two wheeler sales in India have reached 20 million unit sales in the year 2017-18 with a growth rate of 14.80%. With a growing competition and new entrants, it is always challenging for the company to satisfy their customers and to retain them with their brand name. It is very much essential to understand the importance of brand awareness, brand association, perceived quality and brand loyalty with reference to brand equity. Considering the need and importance, this study was designed with the intention of measuring customer based brand equity with special reference to Hero MotoCorp in Tamilnadu. A well-structured questionnaire was framed considering 27 variables to measure the brand equity. Simple random sampling was adapted in this research and collected 400 samples. Structural Equation Modelling was adapted in this study and found that brand association and perceived quality has its significance and positive impact on brand equity. The outcome of this study revealed a positive and significant impact of brand associations and perceived quality on brand equity. The study also registered its recommendation to the brand managers of Hero MotoCorp to concentrate the four dimensions of brand equity, especially, brand association and perceived quality to have a strong customer satisfaction and brand equity.