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The relationship between brand equity and the customer life cycle has garnered increasing attention, especially in the context of start-ups where establishing a solid brand presence is crucial for long-term success. This research investigated the relationship between brand equity and the customer life cycle of start-up firms. The study examined the influence of brand awareness, brand loyalty, perceived quality, and brand associations on customer acquisition, retention, and advocacy, drawing on Keller's Customer-Based Brand Equity Theory and the Customer Life Cycle Theory. The study employed a quantitative approach, utilizing a structured questionnaire to explore the perception and interaction of start-up customers with the brand. Data analysis was examined through &ensp;Structural Equation Modelling (SEM) to get a statistically significant association between constructs. Noteworthy are the high correlations observed, especially between Perceived Quality 2 (PQ2) and Perceived Quality 3 (PQ3), as well as between Brand Loyalty (BL) and Brand Association 2 (BrA2). The findings demonstrate that creating favourable brand associations is indeed a powerful tool in building a loyal customer base, and that an increase in specific quality features can have a stronger emotional impact on customers.

mbr.2024.11.01.05.pdf

Original Research 

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Issue

Brand Equity and Customer Life Cycle in Start-Ups

Customer satisfaction has become a source of worry to most organizations, including the table water business. The table water industry is one of the most competitive markets in Nigeria today and due to its portability and affordability, it is seen as a lucrative trade to venture into. However, this has also led to the proliferation of mushroom table water companies and has made it difficult for some companies to maintain their customer base. Therefore, this study examines the effect of product features on customer satisfaction of veritas table water. The population of this study comprised of 3037 customers of CWAY Table Water Abuja, Nigeria. The sample size of 353 was derived through Taro Yamane’s sample size formula. Data for this study was collected using a structured questionnaire. Descriptive and inferential statistical techniques were used for data analysis. The findings from the study revealed that product development and features have positive and significant effect on customer satisfaction of CWAY Table Water. It was generally concluded that product features have significant effect on the customer satisfaction of CWAY Table Water. This study recommends there should be very strong emphasis on the development of new and innovative products, the management of CWAY Table Water to embrace all the indicators of product branding to be able optimally maximize its benefits and embrace innovative ideas, monitoring and responding to the changes in the needs of the customers.

mbr.2023.10.01.03.pdf

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Managing Product Features and Customer Satisfaction via Product Development, Product Branding, and Product Packaging: Evidence from CWAY Table Water

The mobile phone industry is a very innovative segment within the ICT sector, and the smartphone is gradually becoming the standard configuration of mobile devices and currently represents the fastest growing market in the telecoms industry. Previous studies on brand equity tend to focus on telecommunications, banking, hospitality, banking, construction, fast-moving customer goods, etc., while ignoring the education sector. Therefore, the general objective of the study is to evaluate the brand equity of apple smartphones and customer behavior in Abuja. The study adopted a cross-sectional research design. The study used primary data through a questionnaire using 341 samples. Specifically, the objectives of the study were to establish the extent to which brand awareness, brand association, and brand loyalty affect customer behaviour among students of Veritas University. The resutls revealed that brand awareness, brand association, and brand loyalty positively and significantly affect customer behaviour among Veritas University students. It was concluded that when consumers are attached and loyal to a brand, they are likely to make repeat purchases. This only happens when the relationship between the brand and the user is very in-depth and has an emotional connection with the mobile brand. The study recommended that firms interested in extending customer behaviour to repurchase their product categories should pay special attention to brand loyalty, brand awareness, brand association linked to the functions of guarantee, social identification, and status.

MBR_Volume 8_Issue 1_Pages 48-64.pdf

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Effect of Brand Equity on Consumer Behaviour Among Students of Veritas University, Nigeria: A Study of Apple Smartphones