Journal of Emerging Trends in Engineering and Applied Sciences: Research Areas

Article Title: ANALYSIS AND MODELLING OF BRAND EQUITY DATA TO PREDICT THE SUCCESS OF A BUSINESS
by Ojeyinka, Taiwo O., and Ajayi, Olusola Olajide

Abstract:
Most firms are profit-oriented instead of creating values for their customers. However, with the struggle for market leadership, firms have come to realize that building brand equity is very important to gain sustained competitive advantage for products in the market. Studies that focus on brand equity simultaneously as influencer of a firm's performance have research gap. This research was carried out to fill this knowledge gap. Brand equity data is used to predict the total revenue and the rate of return on investment in order to draw meaningful conclusions between the marketing activities on a firm's products and the success of the firm's business. The results of the analysis revealed that brand equity does contribute to the success of a business but the significance of such contribution is low. It was observed that product quality goes a long way to promote and strengthen brand equity. The researchers believe that this kind of measure is consistent with the interpretation of customers' behavior and it is in accordance with the measurement of consumer-based brand equity especially in the case of commodity products in Nigeria.

Keywords: brand, marketing, performance, analysis, customers

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