Impact of Brand Revitalization on Consumer-Based Brand Equity: Evidence from Nestlé Ghana Limited

Abstract

Over the years, brand revitalization has become essential and has been used by many organizations in the fast moving consumer goods industry in Ghana and Nestlé Ghana Limited is no exception. Brand revitalization has had a lot of consideration from industry professionals. This study therefore sought to find out the impact of brand revitalization in achieving customer-perceived value and in turn leading to consumer-based brand equity. Based on this, the study’s objectives are to evaluate the direct relationship between brand revitalization and consumer-based brad equity (loyalty) and also to determine the meditating effect of customer perceived value on brand revitalization and consumer-based brand equity. As it is noted that brand revitalization (differentiation; and relevance) drives brand equity, the study conceptualizes that, it has an effect on customer perceived value and its effect on consumer-based brand equity (perceived quality; brand awareness; brand image; and brand loyalty). A positivist approach is adopted using a survey strategy. A mixed method was used in addressing the objectives of the study. Thus, a qualitative data was acquired through an in-depth interview to address the first objective of the study and a quantitative approach was used to address the second and third objectives of the study. Data was collected from 240 respondents who were selected on a non-probability basis in the Accra Metropolis. Data was coded using Statistical Package for Social Sciences (SPSS V.20). Structural Equation Modelling (SEM) was used in analyzing the data through a two-stage approach where the measurement and structural models were assessed. Findings from the study showed that, brand revitalization could lead to consumer-based brand equity and customer perceived value also mediates the relationship between brand revitalization and CBBE. The study recommends future studies to apply the framework to other industries to authenticate its applicability. Qualitative studies could also be considered for further studies as quantitative studies have their own limitations.