How Brand Equity Factors Shapes Smartphone Purchase Intentions Among Millennials in Nepal

How Brand Equity Factors Shapes Smartphone Purchase Intentions Among Millennials in Nepal

Purpose: This study explores the factors affecting purchase intention of smartphones among millennials. The study incorporates factors of brand equity, specifically brand awareness, brand loyalty, perceived quality and their mediation effect in purchase intention. Research design, data, and methodology: This study evaluates the role of brand equity factors in influencing purchase intentions by using structural equation modeling to analyze 197 respondents. Results: The findings indicate that brand loyalty, followed by brand awareness, and perceived quality are significant factors in determining customer purchase intention. Further, brand loyalty mediates the relationship between perceived quality and purchase intention, as well as between brand awareness and purchase intention significantly. Additionally, perceived quality mediates the relationship between brand awareness and purchase intention significantly. Finally, the serial mediation of perceived quality and brand loyalty significantly affects the relationship between brand awareness and purchase intention. Conclusions: This research has provided valuable insights into the relationship between brand equity and purchase intention among millennials supporting the Aaker’s Model. Useful theoretical and managerial implications also have been provided.