Brand Equity and Customer Life Cycle in Start-Ups
Year: 2024
Type: article
Study design: Observational Study
Abstract: 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 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.
Source: Marketing and Branding Research
Authors: Michael Oyedele Oyenuga, Chok Nyen Vu
Institutions: Woxsen School of Business, GlobalNxt University
Language: English
Subfield: Marketing
Domain: Social Sciences
Open Access status: diamond
OpenAlex ID: W4412868170