Brand Associations and Consumer Perceptions of Value of Products

Abstract

Purpose - Brands are so valuable that companies may soon include a ‘statement of value’ addendum to their balance sheets to include intangibles such as the value of their brands. This paper examines the importance of brands and the bases for purchase decision and loyalty. The bases are derived from a theoretical framework on the perceptual dimensions of brand association. The framework contains attributes, application, benefits, user, personality and country of origin as the associations that consumers use in their purchase decisions and loyalty. Practical implications- The growing importance of brands and consumer perceptions of brands among marketing researchers requires that an extensive conceptual treatment of brand association be developed. The paper shows the nature of brand association and the future directions in the measurement of perceptual dimension of brand associations.

Key Words: Brand association, consumer perception, formation of brand association