The antecedents and consequences of the formation of perceived value based on brand management and store image

Authors

DOI:

https://doi.org/10.5007/2175-8077.2024.e98221

Keywords:

Perceived value, Store image, Brand awareness, Brand trust, Brand value

Abstract

Study Objective: Create and validate a model to explain consumers' behavioral intention to repurchase from the same e-commerce retailer, focusing on store and brand image management, with an emphasis on the "sneakers" product.

Methodology/Approach: Quantitative approach with a sample of 610 participants obtained by survey. Data analysis was carried out using structural equations, testing the seven hypotheses of the hypothetical model.

Originality/Relevance: Searches in the Web of Science database and Google Scholar did not find models composed of the constructs store image, brand awareness, brand trust, brand value and perceived value together and concomitantly forming a nomological chain influencing the intention to purchase. consumer purchases.

Main Results: Store image and brand awareness positively impact brand value and brand trust, which positively influence the value perceived by the consumer. This last factor positively influences consumers’ behavioral purchase intention.

Theoretical/Methodological Contributions: Development of a model that presents relationships between constructs, forming an unprecedented model. Identification of the antecedents that most influence the formation of perceived value based on brand management and the store's image.

Social Contributions/Management Contribution: Management capacity of marketing professionals in relation to the components of the model that are under their control, making management carried out appropriately more feasible. Thus, the results in terms of the perceived value and purchase intention of the product are “natural” consequences, generating positive results for the company.

Author Biographies

Walter Alves Victorino, Universidade de Itaúna

Belo Horizonte - Minas Gerais - Brazil

Graduated in Economic Sciences, master in Public Administration – Economic Management, from Fundação João Pinheiro, master in Economic Development from UFBA (s/dissertation), specialization in the financial area (improvement -), from Fundação Getúlio Vargas/Brasília. PhD in Administration, Concentration Area Strategy in Organizations and Organizational Behavior, thesis defended on 04.11.2021. Professor of subjects: Brazilian Economy, Macroeconomics, Introduction to economics, International Economic Relations. Professor at FUMEC University from 1986 to August 2021. Professor at the University of Itaúna from August 1985 to the present.

Luiz Rodrigo Cunha Moura, FUMEC University

Belo Horizonte - Minas Gerais - Brazil

Bachelor in Information Technology from the Federal University of Viçosa - MG

Specialist in Information Technology and Business Management from PUC - MINAS

Master in Administration from UFMG

PhD in Administration from UFMG

Professor at FUMEC University and Pedro Leopoldo Foundation.

Cid Gonçalves Filho, FUMEC University

Belo Horizonte - Minas Gerais - Brazil

PhD in Administration from the Federal University of Minas Gerais (2001), Master in Information Science from the Federal University of Minas Gerais (1996). Graduated in Electrical Engineering from the Federal University of Minas Gerais (1983). He was Pro-Rector of Postgraduate Studies, Research and Extension at Fumec University 2014-2015. He has worked as Coordinator of Undergraduate courses since 1987, including most recently the Computer Engineering Course (2017-2020, Concept 5). He is coordinator of the Master's and Academic Doctorate Program in Administration at Universidade Conceito 4 CAPES, for the third time.

References

ABCOM. (2024). Dados do e-commerce. Consultado a 13 de junho de 2024. https://abcomm.org/noticias/category/artigos/

Adrian, K., Purwati, A. A., Rahman, S., Deli, M. M., & Momin, M. M. (2022, November). Effect of relationship marketing, store image, and completeness of products to customer loyalty through trust as variable intervening (study on Pakning Jaya Trade Business). In International Conference on Business Management and Accounting (Vol. 1, No. 1, pp. 164-180).

Amraoui, L., & Morales, D. (2006). Relación entre el riesgo y la confianza en la marca: Estudio exploratorio en Francia. Pensamiento & gestión, (20), 216-237.

Bakhshizadeh, E., & Aliasghari, H. (2023). Customer-based brand equity and customer behavioral intention: evidence from insurance service. Brazilian Journal of Marketing, 22(1), 439-468.

Baldauf, A., Cravens, K., & Binder, G. (2003). Performance consequences of brand equity management: evidence from organizations in the value chain. Journal of product & brand management, 12(4), 220-236.

Brakus, J. J., Schmitt, B. H., & Zarantonello, L. (2009). Brand experience: What is it? How is it measured? Does it affect loyalty? Journal of Marketing, 73(3), 52–68.

Cavazos-Arroyo, J., Beyliss-Cortez, L., & Meraz, L. (2023). Antecedentes y efectos del valor percibido: enoturismo en Valle de Guadalupe, México. RIVAR, 10(30), 191-212.

Chaudhuri, A., & Holbrook, M. B. (2001). The chain of effects from brand trust and brand affect to brand performance: the role of brand loyalty. Journal of marketing, 65(2), 81-93.

Chen, D., & Wang, L. (2019). Building trust in online retailing: The role of e-commerce brand reputation. Journal of Electronic Commerce Research, 17(2), 93-108.

Chiang, C. F., & Jang, S. S. (2007). The effects of perceived price and brand image on value and purchase intention: Leisure travelers' attitudes toward online hotel booking. Journal of Hospitality & Leisure Marketing, 15(3), 49-69.

Chin, W. W. (1998). The partial least squares approach to structural equation modeling. Modern Methods for Business Research, 295(2), 295-336.

Chowdhury, J., Reardon, J., & Srivastava, R. (1998). Alternative modes of measuring store image: An empirical assessment of structured versus unstructured measures. Journal of Marketing Theory and Practice, 6(2), 72-86.

Coelho, P. S., & Esteves, S. P. (2007). The Choice between a Fivepoint and a Ten-point Scale in the Framework of Customer Satisfaction Measurement. International Journal of Market Research, 49(3), 313–339. https://doi.org/10.1177/147078530704900305

Dang, T. Q., Tan, G. W. H., Aw, E. C. X., Ooi, K. B., Metri, B., & Dwivedi, Y. K. (2023). How to generate loyalty in mobile payment services? An integrative dual SEM-ANN analysis. International Journal of Bank Marketing, 41(6), 1177-1206.

Das, G. (2016). Antecedents and consequences of trust: An e-tail branding perspective. International Journal of Retail & Distribution Management, 44(7), 713-730.

Erdil, T. S. (2015). Effects of customer brand perceptions on store image and purchase intention: An application in apparel clothing. Procedia-Social and Behavioral Sciences, 207, 196-205.

Fornell, C., Johnson, M. D., Anderson, E. W., Cha, J., & Bryant, B. E. (1996). The American Customer Satisfaction Index: Nature, Purpose, and Findings. Journal of Marketing, 60(4), 7.

Fuller, C. M., Simmering, M. J., Atinc, G., Atinc, Y., & Babin, B. J. (2016). Common methods variance detection in business research. Journal of Business Research, 69(8), 3192-3198.

Gallart-Camahort, V., Fiol, L. C., & García, J. S. (2023). Influence of the internet on retailer’s perceived quality in the generation of retailer’s brand equity. Vision, 27(1), 33-47.

Graciola, A. P., De Toni, D., Milan, G. S., & Eberle, L. (2020). Mediated-moderated effects: High and low store image, brand awareness, perceived value from mini and supermarkets retail stores. Journal of Retailing and Consumer Services, 55, 102117.

Hair, J. F., Black, W. C., Babin, B. J., Anderson, R. E., & Tatham, R. L. (2014). 7th Edition. Pearson new international edition. Multivariate data analysis.

Hamzah, M. I., & Pontes, N. (2024). What drives car buyers to accept a rejuvenated brand? The mediating effects of value and pricing in a consumer-brand relationship. Journal of Strategic Marketing, 32(2), 114-136.

Han, H., Lho, L. H., Jung, H., Ariza-Montes, A., & Araya-Castillo, L. (2021). Social networking service as a marketing technology tool and sustainable business in the lodging industry: Investigating the difference across older and younger age groups among tourists. Sustainability, 13(10), 5673.

Hanifah, R. D., Wahyudi, A. S., & Nurbaeti, N. (2016, November). Influence of brand equity towards perceived value in 5 star hotel at Jakarta. In International Conference on Tourism, Gastronomy, and Tourist Destination (ICTGTD 2016) (pp. 235-241). Atlantis Press.

Howat, G., & Assaker, G. (2013). The hierarchical effects of perceived quality on perceived value, satisfaction, and loyalty: Empirical results from public, outdoor aquatic centres in Australia. Sport Management Review, 16(3), 268–284. https://doi.org/10.1016/j.smr.2012.10.001

IBGE. (2023). Pesquisa mensal de comércio. Consultado a 13 de junho de 2024. https://www.ibge.gov.br/estatisticas/economicas/comercio/9227-pesquisa-mensal-de-comercio.html

Jiang, L., Jun, M., & Yang, Z. (2015). Customer-perceived value and loyalty: how do key service quality dimensions matter in the context of B2C e-commerce? Service Business, 10(2), 301–317. https://doi.org/10.1007/s11628-015-0269-y

Jones, R., & Lee, S. (2020). The impact of brand loyalty on online repeat purchase behavior. International Journal of Research in Marketing, 28(4), 327-342.

Kaufmann, H. R., Petrovici, D. A., Gonçalves Filho, C., & Ayres, A. (2016). Identifying moderators of brand attachment for driving customer purchase intention of original vs counterfeits of luxury brands. Journal of Business Research, 69(12), 5735-5747.

Kim, W. G., Jin-Sun, B., & Kim, H. J. (2008). Multidimensional customer-based brand equity and its consequences in midpriced hotels. Journal of Hospitality & Tourism Research, 32(2), 235-254.

Konuk, F. A. (2018). The role of store image, perceived quality, trust and perceived value in predicting consumers’ purchase intentions towards organic private label food. Journal of retailing and consumer services, 43, 304-310.

Ladeira, W. J., & Dalmoro, M. (2012). Suscetibilidade à influência interpessoal e valor percebido no consumo de tênis de corrida. Revista Pretexto, 13(1), 134-153.

Lang, L. D., Behl, A., Guzmán, F., Pereira, V., & Del Giudice, M. (2023). The role of advertising, distribution intensity and store image in achieving global brand loyalty in an emerging market. International Marketing Review, 40(1), 127-154.

Ledikwe, A. (2020). Determinants of brand loyalty in the apparel industry: A developing country perspective. Cogent Business & Management, 7(1), 1787736.

Liu, C. R., Liu, H. K., & Lin, W. R. (2015). Constructing customer‐based museums brand equity model: The mediating role of brand value. International Journal of Tourism Research, 17(3), 229-238.

Lundmark, S., Gilljam, M., & Dahlberg, S. (2016). Measuring Generalized Trust: An Examination of Question Wording and the Number of Scale Points. The Public Opinion Quarterly, 80(1), 26–43. https://www.jstor.org/stable/44015373

Madadi, R., Torres, I. M., & Zúñiga, M. Á. (2021). Hierarchical relationships among brand equity dimensions: The mediating effects of brand trust and brand love. Services Marketing Quarterly, 42(1-2), 74-92.

Malhotra, N. K., Nunan, D., & Birks, D. (2017). Marketing research : an applied approach. Pearson.

Matikiti-Manyevere, R., Roberts-Lombard, M., & Mpinganjira, M. (2020). Perceived guest house brand value: The influence of web interactivity on brand image and brand awareness. Journal of Promotion Management, 27(2), 250-277.

Mohammed, A., & Al-Swidi, A. (2019). The influence of CSR on perceived value, social media and loyalty in the hotel industry. Spanish Journal of Marketing - ESIC, 23(3), 373–396. https://doi.org/10.1108/sjme-06-2019-0029

Moon, J. (2007). Corporate image effects on consumers’ evaluation of brand trust and brand affect. Journal of Global Academy of Marketing, 17(3), 21-37.

Moura, L. R. C., Ferreira, P. R., de Oliveira, A. D., & da Silveira Cunha, N. R. (2019). Test and validity of the Brand Resonance Model’s. Revista Gestão & Tecnologia, 19(1), 4-24.

Muchenje, C., Mtengwa, E., & Kabote, F. (2023). Building a Strong Brand: Future Strategies and Insights. In Sustainable Marketing, Branding, and Reputation Management: Strategies for a Greener Future (pp. 238-257). IGI Global.

Nunnaly, J. C.; Bernstein, I. H. Psychometric theory. New York: McGraw-Hill, 1994.

Odongo, N. H., & Motari, W. O. (2022). Consumers’ perceptiveness towards store brands within supermarkets. International Journal of Construction Management, 22(13), 2459-2468.

Oppong, P. K., Mensah, J., & Addae, M. (2021). The Importance of Value, Image, Credibility and Trust to Repurchase Intentions in Over-the-Counter Herbal Market in Sub-Saharan Africa. Open Journal of Business and Management, 9(4), 2080-2099.

Pereira, M. J. R., Moura, L. R. C., Souki, G. Q., & da Silveira Cunha, N. R. (2019). Proposition and test of an explanatory model of innovation perception and it s consequences. ReMark-Revista Brasileira de Marketing, 18(4), 25-50.

Peter, O. R., Oundo, B. H., & Lydiah, A. (2018). The effect of store image and price on store brand equity: Evidence from supermarkets in Kenya. IOSR Journal of Business and Management, 20(10), 15-23.

Pham, L. T. M., Do, H. N., & Phung, T. M. (2016). The effect of brand equity and perceived value on customer revisit intention: a study in quick-service restaurants in Vietnam. Acta Oeconomica Pragensia, 24(5), 14-30.

Phong, L., Nga, T., Hanh, N & Minh, N. (2020). Relationship between brand association and customer loyalty: The case of online retail industry. Management Science Letters, 10(7), 1543-1552.

Podsakoff, P. M., MacKenzie, S. B., Lee, J. Y., & Podsakoff, N. P. (2003). Common method biases in behavioral research: a critical review of the literature and recommended remedies. Journal of applied psychology, 88(5), 879.

Rajagopal, A. (2020). Analysing brand awareness as a driver for determining brand value: a study in telecommunications service marketing. International Journal of Services and Operations Management, 37(2), 241-263.

Rocha, F. R. V., de Esteban Curiel, J., & Cunha Moura, L. R. (2022). Rock in Rio Festival: Influences of Brand Experience and the Brand Personality in Audience of a Music Festival in Brazil. Event Management, 26(4), 717-732.

Semeijn, J., Van Riel, A. C., & Ambrosini, A. B. (2004). Consumer evaluations of store brands: effects of store image and product attributes. Journal of retailing and Consumer Services, 11(4), 247-258.

Shamsher, R. (2021). The Effect of Store Image on Store Loyalty Mediated by Customer Satisfaction and Trust. Business Perspective Review 3 (1), 54-72.

Sharma, R. (2017). Understanding the role of store image in influencing customer-based brand equity and its dimensions in Indian sportswear industry. Management and Labour Studies, 42(3), 167-189.

Smith, A., Johnson, B., & Williams, C. (2018). The role of brand reputation in online purchase decisions. Journal of Consumer Behavior, 22(3), 145-162.

Souki, G. Q., de Ávila, J. M. S., Moura, L. R. C., & Souki, B. Q. (2022). Perceived quality factors that discriminate parents of orthodontic patients according to their satisfaction. International Journal of Pharmaceutical and Healthcare Marketing, 16(2), 297-315.

Souki, G. Q., Oliveira, A. S. D., Guerreiro, M. M. M., Mendes, J. D. C., & Moura, L. R. C. (2022). Do memorable restaurant experiences affect eWOM? The moderating effect of consumers' behavioural engagement on social networking sites. The TQM Journal. Head-of-print.

Sun, Y., Huang, Y., Fang, X., & Yan, F. (2022). The purchase intention for agricultural products of regional public brands: Examining the influences of awareness, perceived quality, and brand trust. Mathematical Problems in Engineering, 2022.

Susanti, S. A., Sawaki, I. A., Octora, Y., & Primadi, A. (2020). the Influence of Brand Awareness, Brand Image on E-Wom Mediated By Brand Trust in the Airasia Refund Process During Covid-19 Pandemic in Jakarta 2020. Advances in Transportation and Logistics Research, 3, 458-466.

Troiville, J. (2024). Connecting the dots between brand equity and brand loyalty for retailers: The mediating roles of brand attitudes and word-of-mouth communication. Journal of Business Research, 177, 114650.

Xingyuan, W., Li, F., & Wei, Y. (2010). How do they really help? An empirical study of the role of different information sources in building brand trust. Journal of Global Marketing, 23(3), 243-252.

Xu, F., Bai, Y., & Li, S. (2020). Examining the antecedents of brand engagement of tourists based on the theory of value co-creation. Sustainability, 12(5), 1958.

Xu, F., Zhan, C., Lu, L., Tan, J., Li, S., & Li, J. (2021). Is the destination brand loyalty mechanism invariable? A comparative study from China. Journal of Destination Marketing & Management, 22, 100658.

Yang, Z., & Peterson, R. T. (2004) Customer perceived value, satisfaction, and loyalty: The role of switching costs. Psychology & marketing, 21(10), 799-822.

Yoo, B., & Donthu, N. (2001). Developing and validating a multidimensional consumer-based brand equity scale. Journal of business research, 52(1), 1-14.

Yu, W., He, M., Han, X., & Zhou, J. (2022). Value acquisition, value co-creation: The impact of perceived organic grocerant value on customer engagement behavior through brand trust. Frontiers in Psychology, 13, 990545.

Zanóbio, H. T., Gomes, L. T., Viana, L. C., de Carvalho, L. S., & Stefanelli, N. O. (2017). Gestão de Marcas: Um estudo sobre a Unimed. Revista Pretexto, 18(4), 84-99.

Zhang, Z., & Yuan, K. H. (2016). Robust coefficients alpha and omega and confidence intervals with outlying observations and missing data: Methods and software. Educational and Psychological Measurement, 76(3), 387-411.

Zia, A., Younus, S., & Mirza, F. (2021). Investigating the impact of brand image and brand loyalty on brand equity: the mediating role of brand awareness. International Journal of Innovation, Creativity and Change, 15(2), 1091-1106.

Published

2024-11-13

How to Cite

Victorino, W. A., Moura, L. R. C., & Gonçalves Filho, C. (2024). The antecedents and consequences of the formation of perceived value based on brand management and store image. Revista De Ciências Da Administração, 26(66), 1–30. https://doi.org/10.5007/2175-8077.2024.e98221

Similar Articles

<< < 3 4 5 6 

You may also start an advanced similarity search for this article.

Most read articles by the same author(s)