Role of Marketing Mix (4Ps) in Building Brand Equity: Case Study of Shell Petrol, UK
Keywords:
Marketing mix (4Ps), brand perceived quality, brand equity, brand awareness, brand loyalty, brand associationAbstract
This investigation explores the role of Price, place, promotion, and product (4Ps) in creation of brand equity. The linkage is being explored among 9 constructs through developing conceptual framework, undertaken from Yoo et al. (2000) research investigation. The author explored the brand equity's dimensions in relation to elements of marketing mix. These dimensions include awareness, perceived quality, and brand loyalty. Thus, after identifying these dimensions, they are linked with brand equity. The hypotheses are being developed and results are tested through T-test. In all nine constructs, apart from awareness and distribution positive linkage is being found. Moreover, promotion is one of the marketing mixes that has strong relation with brand equity's dimensions whereas price and quality has weakest linkage with the dimensions of brand equity.
It is being found by the researcher that strongest correlation is between brand equity and brand loyalty while brand equity has weakest linkage with the perceived quality. Although, from this research, implications for the brand managers and marketing managers to develop understanding about linkage between dimensions of brand equity and 4Ps of marketing mix. Moreover, the findings of this study enable the managers in strategic decision making so that they can maintain strong focus on the activities of marketing in long term for the formation of brand equity.
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