1128 the influence of brand equity on customer purchase decision a case study of coopmart 2023

OVERALL OF THESIS

Research problem

Becoming a member of the World Trade Organization (WTO) in 2007, Vietnam's financial system has made commendable traits in lots of aspects After overcoming the global financial crisis in 2008, the Vietnamese market has made remarkable progress and has become an attractive destination for several domestic and foreign investors, particularly in the retail market In recent years, the Vietnam retail sector is considered to be developing quite strongly, with the total retail sales of consumer goods and social service revenue increasing rapidly According to Deloitte's report "Retail in Vietnam - An accelerated transition towards omnichannel retailing" published in July 2020, while the COVID-19 crisis stays complicated globally, Vietnam retail industry is regarded as having significant growth in Southeast Asian According to the data of the Ministry of Industry and Trade, retail sales of products were approximately 4,000 billion VND, accounting for 79% and increasing by 6.8% over the previous year In addition, Vietnam has been named among the Top 6 most-attractive retail markets in the world due to its large population (over 93.7 million citizens) and the young population structure (60% of the population is aged 18-50) However, the main challenges in the context of integration is the competitive pressure on domestic retailers Domestic businesses would deal with several difficulties and challenges in competing directly with international firms Therefore, understanding and satisfying the requirement of consumers are critical to a company's long-term survival and development.

Nowadays, consumers can easily find a wide range of goods in the market

2 including local and foreign products, at different prices, serving different client groups Besides the traditional markets and street stores, there has been an increase in the number of supermarket systems and large commercial centers in big cities, especially in Ho Chi Minh city Currently, with the explosion of domestic and foreign supermarket systems that have reputations in the Vietnam market such as Big C, AEON, Lotte Mart, Vinmart, Emart,…, the Co.opmart supermarket is dealing with more and more difficulties and challenges in attracting new clients and retaining existing customers.

Co.opmart is a chain of retail supermarkets in Vietnam under Ho Chi Minh City Union of Trade Cooperatives (Saigon Co.op) The first supermarket was established in 1996, which has been and is constantly developing to become a well- known retail business in Vietnam After nearly 25 years of development, Co.opmart is the leading supermarket chain, with more than 128 outlets In addition, Co.opmart has become a firm with the most stores in Vietnam and received many awards such as Excellence Customer Service FAPRA (2013), Top 200 leading retailers in Asia - Pacific (2015),… Moreover, Co.opmart is the only Vietnamese company to be honored with the “Best of the Best - Top 10 most outstanding retailers in Asia – Pacific” award in 2014.

In the view of challenges of competition and a higher customers’ demand for the quality of life, brand equity play an important role in the long-term existence and development of retail businesses in general and Coopmart in particular Brand equity symbolizes the relation that consumers share with the brand and the way they react to the brand and its products Therefore, the topic “The influence of brand equity on customer purchase decision – A case study of Co.opmart” was chosen to examine the relationship between the brand value of a retailer and the customer purchase decisions Moreover, this study may serve as a reference for Coopmart to build effective strategies and develop in the Vietnamese retail industry.

Objectives of the study

The general objective of this study investigate the influence of brand equity on customer purchase decision of products at Co.opmart in Ho Chi Minh city, Vietnam.

The specific objectives of this study were to:

- Identify and analyze factors of brand equity affecting customer buying decision of products at Co.opmart in Ho Chi Minh city, Vietnam.

- Examine the relationship between brand equity and consumer behavior on buying products at Co.opmart in Ho Chi Minh city, Vietnam.

- Give recommendations to increase efficiency in attracting customers who buy products at Co.opmart in Ho Chi Minh city, Vietnam.

Based on the objectives, the research finds out three main questions:

- Which are the factors influencing consumer purchase decision at Co.opmart in Ho Chi Minh city, Vietnam?

- How do factors affect customer buying decision at Co.opmart in Ho Chi Minh city, Vietnam?

- Which recommendations are suitable and effective to attract customers who consume products at Co.opmart in Ho Chi Minh city, Vietnam?

Subject and scope of the study

The subject of the study investigates the effect of brand equity on consumer purchase decision at Co.opmart in Ho Chi Minh city, Vietnam.

The scope of the study analyzes customer who bought products at Co.opmart in Ho Chi Minh City, Vietnam.

Research methodology

The qualitative methodology is used to find out the study’s problem and based on related research about brand equity influence on consumer purchase decision to propose a model In addition, the qualitative research is to discover variables and scales of each variable in the research model.

Quantitative research was conducted through a model questionnaire for the purpose of doing a survey by respondents who consume products at Co.opmart in HoChi Minh city, Vietnam A variety of statistical tools, including correlation and regression analysis, are applied to analyze the collected data from the survey and statistical software SPSS 22 is used to make this analysis.

Organization of the study

The organization of this study will present a simply general description, with a total of five chapters:

This chapter describes the background of study, research objectives, scope of the study and research methodology.

This chapter will focus on theories used in this study such as brand equity and the elements of brand equity, customer purchase decision, the relationship between brand equity and customer purchase decision.

The theory gives explanation about method that used for collecting and analyzing on this study, including data sources, methodology, qualitative and quantitative research.

In this chapter, data processing and step of analysis will be specific presented and discussed In addition, chapter 4 will conclude the hypotheses proposed in the previous chapter and present the accepted and rejected hypotheses through the proven data.

This chapter will discuss about the conclusion from chapter 1 to chapter 4 and discuss about the problem as well as the answer Moreover, this chapter will provide the limitation of the study and the recommendation for future research Hopefully, it

5 can be applied to deal with the problem of the study.

LITERATURE REVIEW

The basic of concepts

2.1.1 The concept of brand equity

Different writers have defined the word brand equity from various perspectives, and several methodologies with the purpose of assessing brand equity have been established in the existing literature.

Brand equity refers to a critical marketing asset (Ambler 2003; Davis 2000) which can create a special relationship that distinguishes the connections between the company and its stakeholders (Capron & Hulland 1999; Hunt & Morgan 1995) and fosters long – term purchasing behavior Yoo, Donthu & Lee (2000) believed that after obviously understanding the aspect of brand equity, business can invest in order to increase intangible asset, promote brand wealth as well as raise competitive barriers According to Falkenberg (1996), increasing brand equity is an essential goal for businesses, which is accomplished by attracting connections and sentiments among potential customers.

Farquhar (1989) defined brand equity as the value provided by the brand to the product and brand equity is also known as the extra utility or value added to a product by its brand name (Srivastava & Shocker, 1991) Brand equity is the added value of a product or service and it is considered as one of the most valuable intangible assets in a company This additional value may be discovered in how people feel, remember and act in relation to a brand, prices as well as the market share (Hung, Su & Zhuang, 2016).

Brand equity is a set of brand assets and liabilities which are associated with a brand name and symbol that contribute to or detract from the value offered by a product or service (Aaker, 1991) However, Keller (1993) defines brand equity is the influence that brand knowledge has on customer’s reaction to a marketing of brand, with the impact happening when the brand is known and the consumer has strong, positive brand associations.

In the late 1980s, a significant growth was recorded in value – based management philosophy that brand equity became one of the main philosophies in all management theory and practice (Gonul & Srinivasan, 1996) The requirement for a brand equity innovation, on the other hand, has resulted in the development of numerous forms of brand equity models According to Amirkhizi (2005), there are currently more than 300 various models around the world and many of these models have focused on consumer (Aaker & Joachimsthaler, 1999) However, this research focused on the consumer - based brand equity by Aaker (1991) and Keller (1993), whose study results demonstrate the differential influence brand knowledge has on customer decision.

In general, Aaker’s (1991) conceptual definition was used to operationally describe brand equity This model became the first released research that conceptualized brand equity from the consumer’s point of view and integrated the behavioral and attitudinal aspects of brand equity Moreover, this model is more likely to be the perfect comprehensive framework for analyzing brand equity. Aaker's (1991) theory of brand equity is a key for successful brand management due to giving a comprehensive knowledge of brand equity from the customer's perspective.

Brand equity is defined in different ways and it is considered as a complex phenomenon Keller (2002) divided brand equity into two elements, namely awareness and association However, according to Aaker (1991), brand equity has five components: brand awareness, brand association, brand loyalty, perceived quality and other proprietary brand assets such as trademarks, patents and channel relationships.

Figure 2.1: Brand equity model (Aaker, 1991)

One of the most widely mentioned brand equity models (Figure 2.1) in the literature was used in this study: Aaker’s (1991) model This model has been experimentally validated in several previous studies and will be used in this research to examine the influence of brand equity on customer purchase decision: A case study of Co.opmart.

2.1.3 The concept of customer behavior

According to Kotler & Keller (2008), customer behavior studies how a person, groups and organization choose, purchase, consume and discard products, services, ideas or experiences to meet their needs and desires Michael (2000) also defines customer behavior as the study of purchasing units and the exchange processes related to the acquisition, consumption, and disposal of products, services, ideas and experiences Customer behavior research focuses on how a person decide to give their available resources such as money, time and effort to pay for products or services (Schiffman & Kanuk, 2007) Consumer behavior refers to the process and activities that individuals participate in while looking for, choosing, buying, consuming, reviewing, and disposing of goods and services to meet their wants and needs (Belch and Belch, 1998) Behavior happens for individuals as well as a group or an organization.

According to Schiffman and Kanuk (2007), customers are divide into two different categories: personal and industrial customers Personal consumers buy products and services for their own purpose or as a present for another person In contrast, organizational customers buy products and services in order to maintain business operations, which includes both profitable and non - profitable organizations, as well as government and non - governmental organizations.

2.1.4 The concept of purchase decision

According to Prasad and Jha (2014), customer buying decision can be defined as the way toward social occasion and data processing, selecting and evaluating the best option in order to deal with a specific issue and make a purchasing decision. Consumer purchase decision - making may be an unpredictable process and buyer can rely on the data on a specific items as well as their own experience to make a buying decision.

Schiffman and Kanuk (2007) found that customer generally search for information relevant about a specified consumption - related demand from their past experiences before seeking information from other sources In other word, previous purchase experience is considered as an internal source of information on which a customer depends before making a decision Furthermore, numerous customers' decision tend to be created by combining previous buying experience, marketing programs and non - commercial information sources.

According to Blackwell et al (2001), in order to understand customers' purchase decisions, marketing managers should grasp their consumption procedure as well as the benefits of organizational products and services in their views The authors also stated that when customers plan to buy specific items, they go through a number of stages that impact their purchase decision process and post - purchase behavior.

According to Philip Kotler (2003) , the process of customer purchase decision is divided into five stages (Figure 2.1) This model provides a framework for understanding the consumer buying decision while selecting one product or service. These five stages include:

Third stage: Evaluation of alternatives

Fifth stage: Post - purchase behavior

Figure 2.2: Customer buying decision process (Phillip Kotler, 2003)

Problem recognition is the first stage of customer purchase decision process in which the consumer can recognize what the problem or need is and then determines what product or type of product would be able to meet their need This is frequently known as the first and most important stage in the process because if customers do not perceive a problem or need, they typically will not consider buying a product In addition, customer demand can be triggered by both internal and external stimuli.

Information search is the second stage in customer buying decision process At this stage, customers who know a specific problem or need tend to be persuaded to search for information with the purpose of looking for the value in a product or service The information could be consulted in many different sources such as personal sources (word of

Post - purchaseBehavior mouth from family or friends), public sources (customer feedbacks, magazines), commercial sources from the advertising, salesman or personal experience.

Previous studies

This study focus on the impact of brand equity on customer purchase decision of cell phone in Addis Ababa Questionnaires were distributed to collect data from 404 respondents who come from Addis Ababa In this research, statistical analysis and descriptive analysis have been used to interpret the result Moreover, samples were tested through correlation and regression analysis in SPSS The results of this investigation show that customer buying decision of cell phone in Addis Ababa is positive influenced by both brand awareness and perceived quality.

However, this research has conceptual, geographical and technical limitations (Beyene & Daniel, 2021).

Figure 2.3: A model of purchase decision, Beyene & Daniel (2021)

The research “Impact of brand equity on consumer’s purchase decision of smart phone

- A study on university students in Chittagong, Bangladesh” is conducted to measure the impact of brand equity on customer’s purchase decision of smartphone in Chittagong,Bangladesh In this study, 300 respondents have been surveyed and a majority of them are the university’s student of Chittagong Samples were selected by a convenience sampling method and then tested through reliability analysis and regression analysis in SPSS Findings revealed that customer behavior is positively affected by brand equity factors, including brand awareness, brand association, perceived quality and brand loyalty (Syed et al., 2020).

The study examines the influence of brand equity on customer purchase intent by concentrating on brand awareness, brand association, perceived quality and brand loyalty. Samples are collected from different market places of Kuala Lumpur and Selangor, Malaysia through close - ended questionnaires The result shows that both brand loyalty and brand association are strongly connected to consumer purchase intent, while brand awareness and perceived quality are not significantly linked to consumer purchase intent (S Rungsrisawat et al., 2019).

Figure 2.4: A model of consumer purchase decision, Syed, Kazi, Zohir, Ishtiak

(2019)Figure 2.5: A model of purchase intention, Rungsrisawat & Sirinapatpokin

The research examines the influence of brand awareness and brand loyalty on customer purchase behavior in the garments industry of Faisalabad Data was collected through questionnaire from the sample of 300 respondents In this study, regression and correlation techniques were used to examine the relationship, effects and level of significance of independent variables on the dependent variable with the help of SPSS - 21 software The findings of this study reflect that both brand awareness and brand loyalty have a positive and significant impact on buying decision However, this study just focus on two factors such as brand awareness and brand loyalty that affect customer buying behavior (Muhammad & Arshia, 2019).

Figure 2.6: A model of purchase behavior, Muhammad & Arshia (2019)

The study “The infuence of brand equity toward consumer purchase decision

- A study case of Samsung smartphone in Bekasi” by Rocky Simon Hia (2017), the author wants to prove the importance of brand equity and examine the influence of its elements namely brand awareness, brand association, perceived quality and brand loyalty toward customer buying decision In this study, the researcher used quantitative method and employed SPSS and AMOS tool in order to analyze the data collected from 300 consumers who use Samsung smartphones in Bekasi The results show that both brand loyalty and perceived quality are significantly associated with consumer purchase intention, whereas brand awareness and brand association are not significantly related to buying decision.

Figure 2.7: A model of purchase decision, Rocky Simon Hia (2017)

The study “Impact of brand equity on consumer purchase decision of dairy products” by Maulik & Ashish (2017) proposed to check the relationship between brand equity and customer buying decision of dairy products in milk city Anand.There are four factors in brand equity such as brand awareness, perceived quality,brand association and brand loyalty Convenience sampling method was used to collect data from 200 respondents who bought and consumed dairy products fromAnand city The results show that brand association has no effect on purchase decision and brand awareness is the major factor that could change customer purchase intention However, the limitation of the current study is that the primary data were collected from the Anand city and it is not considered as a proper representation of the population of the country.

Figure 2.8: A model of purchase decision, Maulik & Ashish (2017)

This research of Muhammad & Sameen (2016) about “The impact of brand equity on consumer purchase decision of cell phones” investigates the effect of brand equity on consumer purchase decision of mobile phones by focusing on brand association, brand awareness, brand quality and brand loyalty Data was collected from both males and females of different areas of Karachi and Lahore, with a total of

300 respondents by simple random sampling In order to test the collected data, correlation and regression analysis has been done with the help of SPSS The results of study show four factors of brand equity have an significantly impact on customer buying decision while brand loyalty is a main factor that affect the purchase decision of cell phones.

Figure 2.9: A model of consumer purchase decision, Muhammad & Sameen

The study of Naeem et al (2016) about “Impact of a brand equity on consumer purchase decision in L’Oreal skincare products” explored the influence of brand equity on consumer buying decision in L’Oreal skincare products In this study, brand equity is divided into four elements, including brand awareness, perceived quality, brand association and brand loyalty Questionnaires were distributed to collect data from 100 individuals who use L’Oreal skincare products by using probability sampling technique In addition, correlation and regression analysis were used to determine the relationship between independent and dependent variables through SPSS software The results conclude a remarkable relationship between brand equity and purchase decision However, this study has some limitations such as sample size and geographical limitation Moreover, in order to get more accurate results, the future researcher can work on the other variables that can impact consumer purchase decision.

This research is carried out to investigate how smartphone brands, including perceived quality, brand awareness, brand association and brand loyalty can affect consumer purchase decision Questionnaires were distributed to collect data from

171 students who use smartphones in Istanbul, Turkey by convenience sampling. After the data collection, the SPSS computer program was used to analyze the collected data In addition, frequencies, cross - tabulations, correlations and appropriate regression analyses were used in this study The findings of the study

Figure 2.10: A model of consumer purchase decision, Naeem, Qurat-ul-ain,

Umer, Amna & Muniba (2016) reflect that brand loyalty and brand awareness are the main major factor that relate to the buying intention, while other variables have less significant impact on customer choice (Ulas & Javad, 2016).

This research of Ren - Fang Chao & Ping - Chu Liao (2016) about “The impact of brand image and discounted price on purchase intention in outlet mall: Consumer attitude as Mediator” investigates the effect of brand image and discounted price on purchase intention in outlet mall of customer Data was collected from both males and females who live in Taiwan, with a total of 450 questionnaires by random sampling method In this study, the author used structural equation modeling (SEM) for statistical analysis Moreover, Amos 22 as the analytical tool to examine the impact of discounted prices, brand image as well as consumer attitudes

Figure 2.11: A model of customer purchase decision, Ulas & Javad (2016) on customer buying intentions in outlet mall The results show both brand image and discounted price have significant impact on buying decision.

Figure 2.12: A model of purchase intention, Ren - Fang Chao & Ping - Chu

The study of Cristina et al (2015) about “Measuring the influence of customer - based store brand equity in the purchase intention” investigates the effect of store brand equity on consumer purchase decision of mobile phones In this study,brand equity was divide into six components, including store brand awareness, store brand perceived quality, store brand loyalty, store brand price image, store reputation, store commercial image This research has focused on store brands ofSpain and findings are obtained by 362 consumers that are collected by random sampling Researchers concluded in their research that some components of brand equity such as store brand awareness, store brand loyalty and store brand perceived quality are significantly associated with consumer intention.

Research model and hypothesis

Based on the theoretical model of Aaker (1991) and previous research (Ren - Fang Chao & Ping - Chu Liao, 2016), this study proposes a theoretical model of brand equity influencing the customer purchase decision of Co.opmart with five components, including (1) brand awareness, (2) brand association, (3) brand loyalty,

(4) perceived quality and (5) price discount These elements influencing customer purchase decision above may differ from research context of previous studies but they are the background for the author to create the hypothesis and research model for this study (Figure 2.3).

2.3.2.1 The relationship between brand awareness and purchase decision

Brand awareness involves brand recognition and brand recall Brand recognition refers to a person's ability to distinguish a specific brand from a group of brands Brand recall refers to which a person is able to remember a brand when presented with a product category or need (Keller, 1993) There are several levels of brand awareness such as brand recognition, brand recall, top of mind, brand dominance, brand knowledge and brand opinion (Aaker, 1991) Brand awareness indicates how much a brand can be understood by the consumer or extents to which customers identify and recognize a brand (S Rungsrisawat et al., 2019) Likewise, Grewal et al (1998) believe that brand awareness is an important component in consumer buying intention and some brands will accumulate in consumers' mind to affect customer purchase decision.

Muhammad & Arshia (2019) conducted a study with the aim of examining the influence of brand awareness and brand loyalty on customer purchase decision. The findings of this study reflect that brand awareness has a strongly impact on customer purchase decision.

The study “Impact of brand equity on consumer purchase decision of dairy products” by Maulik & Ashish (2017) proposed to check the relationship between brand equity and customer buying decision of dairy products in milk city Anand. There are four factors in brand equity such as brand awareness, perceived quality, brand association, and brand loyalty The results show that brand awareness is the major factor that could change customer purchase decision.

In addition, the impact of brand awareness on customer purchase decision is found in several prior research such as Beyene & Feyisa (2021); Syed, Kazi, Zohir, Ishtiak & Nurul (2020); Rungsrisawat & Sirinapatpokin (2019); Rocky Simon Hia (2017); Muhammad & Sameen (2016); Naeem, Qurat-ul-ain, Umer, Amna &

Muniba (2016); Ulas & Javad (2016); Cristina, Valentín-Alejandro, Oscar & Jean- Pierre (2015); Nguyen Truong Son (2008) As a result of the previous discussion about brand awareness, the first hypothesis is formulated:

H1: There is a relationship between brand awareness and customer purchase decision at Co.opmart.

2.3.2.2 The relationship between brand association and purchase decision

A brand association is defined as anything connected in memory to a brand (Aaker, 1991) In addition, Aaker (1991) believed that brand associations may give value to customers by providing a reason for consumers to buy the brand and by making positive attitudes or feelings among consumers A brand association can be created through the association with attitudes, attributes or benefits (Keller, 1993). According to Syed et al (2020), brand associations are brand attributes that come to mind when customer discuss about a brand.

S Rungsrisawat et al (2019) investigates the influence of brand equity on customer purchase intent by concentrating on brand awareness, brand association, perceived quality and brand loyalty The research results showed that there was a positive and significant relationship between brand association and customer purchase decision.

Moreover, the impact of brand association on customer purchase decision is found in several previous studies such as Beyene & Feyisa (2021); Syed, Kazi, Zohir, Ishtiak & Nurul (2020); Muhammad & Arshia (2019); Rocky Simon Hia (2017); Maulik & Ashish (2017); Muhammad & Sameen (2016); Naeem, Qurat-ul- ain, Umer, Amna & Muniba (2016); Ulas & Javad (2016); Nguyen Truong Son

(2008) Based on these contributions, the second hypothesis is formulated:

H2: There is a relationship between brand association and customer purchase decision at Co.opmart.

2.3.2.3 The relationship between brand loyalty and purchase decision

According to Keller (2003), brand loyalty is the nature of the customer and brand connection Brand loyalty is defined as a situation that indicates how likely a customer will change to another brand, particularly when that brand makes alteration, either in price or in product feature (Aaker, 1991) According to Oliver

(1997), brand loyalty is described as a sense of commitment to repurchase a preferred product or service in the future, regardless of marketing strategies or contextual factors that may change customer behavior Assael (1998) defined brand loyalty as customers satisfying their previous experiences with the same brand, which leads to repurchase in customers According to Yoo et al (2000), brand loyalty has the capacity to affect customer decision to purchase the same product or brand and stop switching to other competitive brands Furthermore, Yee and Sidek

(2008) found that the brand - loyal customers will simple buy products or services of a brand based on past experiences without any evaluation.

In addition, the impact of brand loyalty on customer purchase decision is found in several prior research such as Beyene & Feyisa (2021); Syed, Kazi, Zohir,Ishtiak & Nurul (2020); Rungsrisawat & Sirinapatpokin (2019); Rocky Simon Hia

(2017); Maulik & Ashish (2017); Muhammad & Sameen (2016); Naeem, Qurat-ul- ain, Umer, Amna & Muniba (2016); Ulas & Javad (2016); Cristina, Valentín- Alejandro, Oscar & Jean-Pierre (2015) As a result of the previous discussion, the third hypothesis is formulated:

H3: There is a relationship between brand loyalty and customer purchase decision at Co.opmart.

2.3.2.4 The relationship between perceived quality and purchase decision

Perceived value is defined as a customer's perception of a product's strength and their expectations of a specific brand (S Rungsrisawat et al., 2019) Perceived quality is another essential factor of brand equity and it is described as a customer’s perception of the overall quality or superiority of a product or service (Aaker, 1991). Likewise, Ulas & Javad (2016) believe that perceived quality relates to customers' knowledge of what they see and feel when they look at and touch a product of a company According to Zeithaml (1988), perceived quality is not the real quality of products or services; alternatively, it is described as the general view of customers about products or services of a brand This argument is reinforced by Bhuian's

(1997) definition of perceived quality as the customer's assessment of a product's additional values Moreover, positive perceived quality may influence customer purchase decision, facilitate differentiation of brand, enable the execution of brand extension, allow companies to establish premium prices and perceived quality is linked to corporate profitability (Aaker, 1991).

Summary

Chapter 2 identified a variety of factors that can influence on customer purchase decision in Co.opmart It also provided the concept of brand equity, customer behavior, purchase decision and discussed the literature review of previous studies An overview of the research design, methods and analysis will be provided in the following chapter.

RESEARCH METHODOLOGY

Research design

The research process begins with identifying a research problem, which is also known as the problem statement Then, theoretical basis will be identified and the previous studies that focused on this field will be briefly discussed Next, conceptualizing a research design that can address or solve the outlined problem. After that, the scale will be built and adjusted in order to be consistent with this study Right after that, the sample groups will be determined Finally, collecting and analyzing data from those sample groups and reporting the findings The figure below can show a clear picture of a research process.

The survey questionnaire was divided into two sections: personal information and a Likert scale Personal information was collected with closed - ended questions, while information about factors influencing customer purchase decisions was used by a five - point Likert scale ranging from 1 (strongly disagree) to 5 (strongly agree).

In the preliminary research, this study used a qualitative method through in - depth interviews to better understand the primary factors influencing customer’s choice This study aims to provide an appropriate and theoretical basis for scaling in qualitative research Qualitative research is used to get detailed information by interviewing a select group of people This research is conducted by customer in different age groups to discuss and collect information about the survey.

The research utilized this technique for the primary aim of developing the survey questionnaire for quantitative method, ensuring a theoretical basis for the survey and appropriateness with the actual situation of Co.opmart.

Based on the literature review, this research provides several questions in a focused group:

How long do you visit Co.opmart?

How much do you spend on products?

What kind of products do you buy at Co.opmart?

What are the factors that affect customer purchase decisions? (Brand awareness, brand association, brand loyalty, perceived quality, pricing policy)

Why do you buy products at Co.opmart?

What makes you choose products at Co.opmart?

Do you have any other comments?

Based on the discussion of 10 customers, it was discovered that brand awareness, brand association, brand loyalty, perceived quality and pricing policy affected their purchase decision at Co.opmart They believed that brand is the main factor when buying products In addition, they can recognize the brand of Co.opmart, which is a well - known brand.

Table 3.1: Statistics of participants in the focus group

Age The number of survey Note

Using questionnaires to test 40 consumers who bought products at Co.opmart in Ho Chi Minh city

Quantitative methods were used in formal research to analyze and test hypotheses in the model This study uses a 5 point Likert - scale questionnaire instrument to collect information.

Hair, Anderson, Tatham, and Black (1998) stated that the minimal sample size for exploratory factor analysis is five times the total number of observed variables (n=5*m) According to Comrey (1973) & Roger (2006), this is a sample size appropriate for factor analysis research Therefore, the minimal sample size for this research is 130 customers.

The survey questionnaire is designed to collect information regarding each of the study objectives The survey questionnaire was divided into two sections: personal information and a Likert scale Personal information collects with closed - ended questions, while information about factors influencing customer purchase decision is used by a five - point Likert scale ranging from 1 (strongly disagree) to 5 (strongly agree) The variables in this study were chosen based on the literature review.

The first section of the survey form is a profile questionnaire It requests information on the participants' backgrounds such as gender, age, occupation,

The second section of the survey form is a survey questionnaire It is designed to determine the preference of the customers when it comes to the factors that impact purchase decision It is made up of five elements that impact on customer purchase decision: brand awareness, brand association, brand loyalty, perceived quality and pricing policy.

Quantitative research is empirical study in which the data is presented in the form of numbers (Punch, 2005) According to Flick (2009), quantitative research aims to test an assumption that has been pre-formulated in the form of a hypothesis.

Descriptive research is performed with careful observations and gave comprehensive documentation of a phenomenon of interest (Bhattacherjee, 2012). The purpose of descriptive research is to describe a phenomenon and its characteristics The sample size of this study is 251 respondents who bought products at Co.opmart in Ho Chi Minh city The Statistical Package for Social Science 22 (SPSS - 22) were used to analyze the collected data obtains from primary sources.

3.2 Modified the scale of factors influencing customer purchase decision at Co.opmart

3.2.1 The scale of brand awareness

According to Yoo et al (2000), brand awareness is an important factor in customer purchase decision for the reason that customers can know what a brand looks like or recognize a brand among other competing brands Therefore, brand awareness is considered as a component that affects customer purchase decision.

Table 3.2: Encode the brand awareness scale

BAW1 I am aware of Co.opmart’s brand Yoo et al (2000) BAW2 I know what Co.opmart’s brand looks like Yoo et al (2000)

When I think about consumer goods such as frozen food, canned food, drink etc.

Co.opmart's brand is the brand that comes to my mind first

BAW4 I can recognize Co.opmart’s brand among other competing brands

BAW5 I am quite familiar with Co.opmart’s brand Gómez & Giraldo

3.2.2 The scale of brand association

A brand association is defined as anything connected in memory to a brand(Aaker, 1991) In addition, Aaker (1991) believed that brand associations may give value to customers by providing a reason for consumers to buy the brand and by making positive attitudes or feelings among consumers A brand association can be created through the association with attitudes, attributes or benefits (Keller, 1993).According to Syed et al (2020), brand associations are brand attributes that come to mind when customer discuss about a brand Therefore, brand association is considered as a component that affects customer purchase decision.

Table 3.3: Encode the brand association scale

BAS1 Some characteristics of Co.opmart’s brand come to my quickly

BAS2 I can quickly recall the symbol or logo of

Co.opmart’s brand Yoo et al (2000)

BAS3 Co.opmart’s brand is different from its competing brands

BAS4 Co.opmart brand is interesting Beyene & Daniel

3.2.3 The scale of brand loyalty

According to Keller (2003), brand loyalty is the nature of the customer and brand connection Brand loyalty is defined as a situation that indicates how likely a customer will change to another brand, particularly when that brand makes alteration, either in price or in product feature (Aaker, 1991) According to Yoo et al.

(2000), brand loyalty has the capacity to affect customer decision to purchase the same product or brand and stop switching to other competitive brands Furthermore,Yee and Sidek (2008) found that the brand - loyal customers will simple buy products or services of a brand based on past experiences without any evaluation.Therefore, brand loyalty is considered as a component that affects customer purchase decision.

Table 3.4: Encode the brand loyalty scale

BL1 My first purchase option is Co.opmart brand Yoo et al (2000)

BL2 I am loyal to Co.opmart’s brand Beyene & Daniel

BL3 I recommended Co.opmart's brand to anyone who seeks my opinion

BL4 I will not buy other brands if Co.opmart stores are available Yoo et al (2000)

3.2.4 The scale of perceived quality

Perceived quality is another essential factor of brand equity and it is described as a customer’s perception of the overall quality or superiority of a product or service (Aaker, 1991) Likewise, Ulas & Javad (2016) believe that perceived quality relates to customers' knowledge of what they see and feel when they look at and touch a product of a company Moreover, positive perceived quality may influence customer purchase decision, facilitate differentiation of brand, enable the execution of brand extension, allow companies to establish premium prices and perceived quality is linked to corporate profitability (Aaker, 1991) Therefore, perceived quality is considered as a component that affects customer purchase decision.

Table 3.5: Encode the perceived quality scale

PQ1 The products of Co.opmart's brand have a high quality Dodds et al (1991)

PQ2 The products of Co.opmart's brand are trustworthy Dodds et al (1991)

PQ3 I'm satisfied with the quality of

PQ4 Co.opmart’s brand lives up to its promises with customers Lehman et al (2008)

3.2.5 The scale of pricing policy

Statistical analysis

3.3.1 Test validity by Cronbach’s Alpha

According to Cooper & Schindler (2006), reliability focuses on the correctness and exactness of the testing methods and design in evaluating stability, equivalence and internal consistency coefficients The reliability coefficients are measured numerically through correlation formulas (Cooper & Schindler, 2006).

Internal reliability was validated by calculating Cronbach's Alpha for all combinations of the variables examined Cronbach's Alpha discovers the internal consistency or average correlation of items in a survey instrument in order to assess its reliability The Alpha can range from 0 (no internal consistency) to 1.0 (complete internal consistency) According to Nunnally & Burnstein (1994), if the correlation coefficient of the total variable is less than 0.3 in Cronbach's Alpha, observation variables should be eliminated When the Cronbach's Alpha is greater than 0.6, the scale is chosen (the higher the Cronbach's Alpha, the better the internal consistency dependability) Cronbach's Alpha coefficients of 0.70 or above imply good and dependable measurements for further analysis (Hair et al., 1998; Gliem & Gliem, 2003).

From the information discussed above, the scale is evaluated in this study using the following criteria: the observation variables will be eliminated when the correlation of the total variable is less than 0.3 ( these variables make little contribution to the description of the concept to be measured) Cronbach's Alpha reliability greater than 0.6 will be used to select the scale in this study.

The exploratory factor analysis (EFA) aids in the evaluation of two essential scale values: convergent value and discriminant value EFA method belongs to the group of interdependence techniques which means that there is no dependent variable and no independent variable, but it is built on interrelationships The method of principal components analysis and varimax rotation are the most widely utilized methods in factor analysis (Mayers et al., 2000).

According to Hair et al (1998), factor loading is the criterion to ensure the practical significance of EFA:

The conditions for analyzing exploratory factors must satisfy the following requirements:

- 0.5 ≤ KMO ≤ 1: The KMO coefficient is an index used to assess the suitability of factor analysis For factor analysis, a high KMO value is appropriate.

- Bartlett's test - determine whether the variables have an overall connection.

If this test is statistically significant (Sig < 0.05), the observed variables are correlated with each other in the population.

- Percentage of variance > 50% - represents the percentage variation of the observed variables In other words, considering the 100% variation, this result indicates how much percentage the factor analysis explains.

3.3.3 Regression analysis and hypothesis testing

In SPSS, regression is the process of evaluating a research model after conducting a series of studies on Cronbach's Alpha, EFA, and correlations to identify independent variables that meet the regression requirement criteria Regression determines the weight of each independent component influencing the dependent factor, resulting in a regression equation.

In this study, the dependent variable is purchase decision, while the independent variables are brand awareness brand association, brand loyalty,perceived quality and pricing policy.

RESULTS AND DISCUSSION

Sample descriptions

4.1.1 Retail brands are chosen during the Covid - 19 pandemic

Table 4.1: Respondents who choosing retail brands

Source: Result of data processing

The researcher discovered 499 retail brands were chosen among 251 respondents after doing research and collecting a total of 251 responses, implying that some respondents may have more than one retail brand The table 4.1 shows thatCo.opmart leads other retail brands the number of responses at 178 (35.7%), BigC and

Vinmart follow behind, with 79 responses (15.8%) and 75 responses (15%) respectively There are 22 responses or 4.4% choosing Emart, 37 responses or 7.4% selecting AEON and 38 responses or 7.6% opting for LotteMart Moreover, Satramart, METRO and other brand are chosen by respondents with the number of 30, 24 and 16.

4.1.2 The way of shopping during the Covid - 19 pandemic

Table 4.2: The way of shopping

The table 4.2 shows that majority of the respondents are shopping online during the Covid -19 pandemic, accounting for 51.4% Moreover, 29.1% of the respondents who go shopping offline and the rest go shopping online and offline.

Table 4.3: Distribution of respondents by gender

The table 4.3 show that 179 respondents are from female, accounting for 71.3% and 69 respondents are from male, accounting for 27.5% In addition, there are 3 respondents from another group at 1.2% This is consistent with the fact that there are generally more female shoppers than male.

Table 4.4: Distribution of respondents by age

The table 4.4 shows respondents majority are mostly in the age of 18 – 24 years old by 149 respondents, at 59.4% The second rank are in the age of 25 – 34 years old by 48 respondents, accounting for 19.1% There are 24 respondents or 9.6% are in the age of 35 – 44 years old Respondents who in the age of 45 – 55 years old are 13 people, accounting for 5.2% The above 55 years old are consisted the amount of 17 respondents, which is occupied 6.8%.

Table 4.5: Distribution of respondents by occupation

Based on the table 4.5, the majority in this research are students, which dominated by 51.4% or 129 respondents, 39.8% of employees with the number of 100 and 22 respondents or 8.8% are unemployed.

Table 4.6: Frequency visiting Co.opmart

4 - 5 times a month 30 12.0 12.0 94.0 more than 5 times a month 15 6.0 6.0 100.0

The table 4.6 shows that most of respondents visit Co.opmart once a month, accounting for 44.2% and 37.8% of the respondents visit Co.opmart 2 – 3 times a month There are 12% people who go shopping at Co.opmart 4 – 5 times a month In addition, 6% is the percentage of respondents who visit Co.opmart more than 5 times a month.

Table 4.7: Distribution of respondents by spending at Co.opmart

From 251 respondents collected in this study, 35.9% or 90 respondents who spent under 500.000 VND on products at Co.opmart, 23.9% or 60 respondents who spent from 500.000 VND to 1.000.000 VND on products at Co.opmart The majority of respondents spent from 1.000.000 VND to 2.000.000 VND on products atCo.opmart, accounting for 37.8% Moreover, 4 respondents who spent from

2.000.000 VND to 3.000.000 VND and 2 respondents who spent more than

3.000.000 VND on products at Co.opmart, with 1.6% and 0.8% respectively.

Table 4.8: Distribution of respondents by product purchase

After doing research and collecting a total of 251 responses, the researcher discovered 492 products were bought among 251 respondents, which means some respondents may bought more than one products The table 4.8 shows that the major products chosen among 251 respodents are consumer goods with the number of 242 or49.2% Next 79 respondents or 16.1% bought cosmetics, 148 respondents or 30.1% bought household products and 23 respondents bought garment, accounting for 4.7%.

Cronbach’s Alpha

Table 4.9: Result of the reliability assessment of brand awareness

Scale Mean if Item Deleted

Scale Variance if Item Deleted

Cronbach's Alpha if Item Deleted BAW

The result of Cronbach's Alpha indicated that the reliability coefficient of brand awareness is 0.897 The total variable’s correlation coefficients of observation variables in the scale are greater than 0.3 Moreover, there is no case of eliminating the observation variable which could make the scale's reliability greater than 0.897.

As a result, all observed variables are accepted and will be used in the next factor analysis.

Table 4.10: Result of the reliability assessment of brand association

Cronbach's Alpha if Item Deleted

As a result, all observed variables are accepted and will be used in the next factor analysis

Table 4.11: Result of the reliability assessment of brand loyalty

The result of Cronbach's Alpha indicated that the reliability coefficient of brand awareness is 0.870 The total variable’s correlation coefficients of observation variables in the scale are greater than 0.3 However, if BL4 is removed, the reliability coefficient of the scale will be 0.886 (greater than 0.870) As a result, the researcher eliminated the BL4 and re – run Cronbach's Alpha.

Table 4.12: Result of the reliability assessment of brand loyalty after removing

Table 4.13: Result of the reliability assessment of perceived quality

Table 4.14: Result of the reliability assessment of pricing policy

Table 4.15: Result of the reliability assessment of purchase decision

Table 4.16: Synthesize Cronbach’s Alpha of each variable

In conclusion, table 4.16 shows that the result of Cronbach’s Alpha with six factors (n = 25) indicated that the reliability coefficient of all observed variables is greater than 0.6 Moreover, the total variable’s correlation coefficients of observation variables in the scale are greater than 0.3 As a result, all observed variables are accepted and will be used in the next factor analysis.

Result of exploratory factor analysis (EFA)

4.3.1 Factor analysis for independent variable

According to the result of scale reliability assessment above, the researcher performed a factor analysis of 20 observation variables of independent variables influencing customer purchase decision at Co.opmart.

Table 4.17: The result of KMO and Bartlett's Test for independent variables

KMO and Bartlett's Test Kaiser-Meyer-Olkin Measure of Sampling Adequacy .913

The table 4.17 shows that the KMO coefficient is 0.913 (0.5 ≤ KMO ≤ 1) In addition, the result of Bartlett's test is 3813.753 with Sig = 0.000 less than 0.05 As a result, the data used for factor analysis is appropriate.

Table 4.18: Eigenvalues and covariance deviations for independent variables

The table 4.18 shows that at a value of Eigenvalue ≥ 1 with factor extraction method, varimax rotation allows extracting 5 factors from the observation variable. Total value of deviation is 77.864% > 50%: satisfactory.

Table 4.19: Result of independent factor analysis with principal varimax rotation method Rotated Component Matrix a

According to the analysis result, 20 variables have a loading factor coefficient greater than 0.5, which is satisfactory As a result, no variables are removed from the scale.

In conclusion, there are 20 observed variables are accepted and will be used in the next factor analysis.

4.3.2 Factor analysis for dependent variables

Table 4.20: The result of KMO and Bartlett’s Test for dependent variable

Kaiser-Meyer-Olkin Measure of Sampling Adequacy .831

The table 4.20 shows that the KMO coefficient is 0.831 (0.5 ≤ KMO ≤ 1) In addition, the result of Bartlett's test is 669.036 with Sig = 0.000 less than 0.05 As a result, the data used for factor analysis is appropriate.

Table 4.21: Eigenvalue and covariance deviations for dependent variables

The table 4.21 shows that the Eigenvalue coefficient of the factor is 3.431(greater than 1) In addition, total value of deviation is 68.619% > 50%: satisfactory.

Table 4.22: The factor rotation matrix of the dependent variable

The table 4.22 shows that after performing factor rotation by the varimax method, five observed variables have formed a single convergent group with all convergence values greater than the minimum standard of 0.5.

Correlation analysis

BAW BAS BL PQ PP PD

** Correlation is significant at the 0.01 level (2-tailed).

Significance level of the dependent variable (purchase decision) for independent variables is 0.000 (less than 0.05) This indicates that there is a strong correlation between the dependent variable and the independent variable Because the independent variables have a strong correlation with the dependent variable, the study will put into the model to explain the dependent variable.

The Pearson correlation analysis shows that some independent variables correlate with each other, so regression analysis needs to focus on the multicollinearity problem.

Test of regression analysis

Factors extracted from factor analysis will be used for regression analysis to validate the research model and associated hypotheses The validations of the statistical hypothesis apply a significance level of 5%.

Table 4.24: Model summary Model Summary

Std Error of the Estimate

1 775 a 601 593 46770 a Predictors: (Constant), PP, BL, BAS, BAW, PQ

According to the result of the analysis (Table 4.24), the value of the adjusted R square is 0.593 This proves that five independent variables are put into the model have an impact on the change of independent variables (59.3%), while the remaining 60.1% are due to external variables Because adjusted R square is more than 50% so this study gives management implications.

Total 134.222 250 a Dependent Variable: PD b Predictors: (Constant), PP, BL, BAS, BAW, PQ

In Anova analysis (Table 4.25), the significance level is 0.000 (less than 0.05),

F = 73.724 Thus, the linear regression model was constructed in accordance with the whole.

Table 4.26: Result of dependent variables’ linear regression

The result of VIF at table 4.26 indicates that multicollinearity does not occur because the VIF of each variable is less than 3 (Knock and Lynn, 2012) The regression coefficient significance level of BL are more than 0.05, so this variable is removed There are BAW, BAS, PQ and PP are less than 0.05, so these independent variables have a meaningful explanation for the dependent variable and BL is excluded from the model.

H1: There is a relationship between brand awareness and customer purchase decision at Co.opmart.

BAW = 0.110 (t = 1.981, significance level = 0.049) Therefore, the variableBAW is statistically significant at 11% In other words, when other factors remain unchanged, an impact on the factor BAW will change the PD by 11% Thus, the factor BAW is a sensitive factor that has a direct impact on customer purchase decision at Co.opmart As a result, the H1: There is a relationship between brand awareness and customer purchase decision at Co.opmart is accepted.

H2: There is a relationship between brand association and customer purchase decision at Co.opmart.

BAS = 0.097 (t = 2.083, significance level = 0.038) Therefore, the variable BAS is statistically significant at 9.7% In other words, when other factors remain unchanged, an impact on the factor BAS will change the PD by 9.7% Thus, the factor BAS is a sensitive factor that has a direct impact on customer purchase decision at Co.opmart As a result, the H2: There is a relationship between brand association and customer purchase decision at Co.opmart is accepted.

H3: There is a relationship between brand loyalty and customer purchase decision at Co.opmart.

BL = 0.077 ( t = 1.942, significance level = 0.053 > 0.05) Because the level of significance is not guaranteed, the BL variable must be excluded from the "Brand loyalty" variable because it is not statistically significant Some factors such as my first purchase option is Co.opmart brand, I am loyal to Co.opmart’s brand, I recommended Co.opmart's brand to anyone who seeks my opinion are not impact on their purchase decision As a result, the H3: There is a relationship between brand loyalty and customer purchase decision at Co.opmart is rejected.

H4: There is a relationship between perceived quality and customer purchase decision at Co.opmart.

PQ = 0.411 (t = 7.274, significance level = 0.000) Therefore, the variable PQ is statistically significant at 41.1% In other words, when other factors remain unchanged, an impact on the factor PQ will change the PD by 41.1% Thus, the factor PQ is a sensitive factor that has a direct impact on customer purchase decision at Co.opmart As a result, the H4: There is a relationship between perceived quality and customer purchase decision at Co.opmart is accepted.

H5: There is a relationship between pricing policy and customer purchase decision at Co.opmart.

PP = 0.211 (t = 3.892, significance level = 0.000) Therefore, the variable PP is statistically significant at 21.1% In other words, when other factors remain unchanged, an impact on the factor PP will change the PD by 21.1% Thus, the factor

PP is a sensitive factor that has a direct impact on customer purchase decision at Co.opmart As a result, the H5: There is a relationship between pricing policy and customer purchase decision at Co.opmart is accepted.

PD = 0.110 * BAW + 0.097 * BAS + 0.411 * PQ + 0.211 * PP

Based on the beta coefficient, in all independent variables, the perceived quality has the greatest beta value This proves that the perceived quality group has the most influence on customer purchase decision at Co.opmart, following by pricing policy, brand awareness and brand association.

Purchase decision based on demographic profile

The comparative test of purchasing decision determines whether there is the difference between each object groups mentioned above The difference in comparison only makes sense when the significance level is less than 0.05.

4.6.1 Purchase decision based on gender

Table 4.27: One-way test of purchase decision based on gender

The table 4.27 shows that the Levene test with significant level = 0.308 greater than 0.05, which means that there is no difference in variance and it is eligible for ANOVA analysis ANOVA analysis with a significant level = 0.000 is less than 0.05, which means that there is a statistically significant difference in purchase decision among different gender.

4.6.2 Purchase decision based on age

Table 4.28: One-way test of purchase decision based on age

The table 4.28 shows that the Levene test with significant level = 0.778 greater than 0.05, which means that there is no difference in variance and it is eligible for

ANOVA analysis ANOVA analysis with a significant level = 0.545 is greater than 0.05, which means that there is no statistically significant difference in purchase decision among different age.

4.6.3 Purchase decision based on occupation

Table 4.29: One-way test of purchase decision based on occupation

The table 4.29 shows that the Levene test with significant level = 0.375 greater than 0.05, which means that there is no difference in variance and it is eligible forANOVA analysis ANOVA analysis with a significant level = 0.898 is greater than0.05, which means that there is no statistically significant difference in purchase decision among different occupation.

4.6.4 Purchase decision based on frequency visiting Co.opmart

Table 4.30: One-way test of purchase decision based on frequency visiting

N Mean Std Deviation once a month 111 3.4829 75725

4 - 5 times a month 30 3.8733 64857 more than 5 times a month 15 4.0133 81229

The table 4.30 shows that the Levene test with significant level = 0.511 greater than 0.05, which means that there is no difference in variance and it is eligible for ANOVA analysis ANOVA analysis with a significant level = 0.002 is less than 0.05, which means that there is a statistically significant difference in purchase decision among different frequency groups.

4.6.5 Purchase decision based on spending

Table 4.31: One-way test of purchase decision based on spending

The table 4.31 shows that the Levene test with significant level = 0.098 greater than 0.05, which means that there is no difference in variance and it is eligible for

ANOVA analysis ANOVA analysis with a significant level = 0.007 is less than 0.05,which means that there is a statistically significant difference in purchase decision among different spending groups.

CONCLUSION AND RECOMMENDATION

Conclusion

The objective of this research is to examine the impact of brand equity on customer purchase decision As a result, the researcher investigated several components such as brand awareness, brand association, brand loyalty, perceived quality and pricing policy that affect customer purchase decision The result of this study provides important information about the influence of brand equity on customer purchase decision.

The study is conducted 251 surveys from customers who bought products at Co.opmart in Ho Chi Minh city, which is based on a Likert scale from 1 – 5 in order to evaluate the impact of brand equity on customer purchase decision In addition, this study used statistical methods, scale evaluation through reliability test Cronbach’s Alpha, exploratory factor analysis (EFA), regression analysis and analytical validity test difference of the sample The results of the regression analysis are shown by the following equation:

PD = 0.110 * BAW + 0.097 * BAS + 0.411 * PQ + 0.211 * PP

According to the theoretical model, there are five elements namely brand awareness, brand association, brand loyalty, perceived quality and pricing policy that influence customer purchase decision at Co.opmart After the completion of a survey and data analysis, the results revealed that majority of the respondents believed that brand awareness, brand association, perceived quality and pricing policy influenced their purchase decision at Co.opmart The results from correlation and regression analysis showed that biggest contributor was from perceived quality(41.1%), meaning majority of the respondents felt that perceived quality has the greatest impact on their purchase decision The second most strong correlation and contribution was from pricing policy, accounting for 21.1% Brand awareness was the third contribution, taking up 11% and brand association had the least impact on customer purchase decision, accounting for 9.7%.

The study also helped to expose that a product is purchased on basis of brand awareness, brand association, perceived quality and pricing policy.

Recommendation

5.2.1 Co.opmart should focus on perceived quality to attract customers

Table 5.1: Descriptive statistics of perceived quality

N Minimum Maximu m Mean Std Deviation

From the results of the research, it has been observed that perceived quality has the most significant role in purchase decision (P = 0.411) This result showed that the high quality products at Co.opmart already recognized and accepted by major respondents, which means Co.opmart provides high quality products over time Therefore, Co.opmart should focus on perceived quality in order to improve customer purchase decision.

5.2.2 Co.opmart should focus on pricing policy to attract customers

Table 5.2: Descriptive statistics of pricing policy

Pricing policy is the second factor affecting consumer purchase decisions at Co.opmart (P = 0.211) Customers consider that pricing policies of Co.opmart are always in line with their preference Moreover, good pricing policy could encourage customers to buy more products at Co.opmart Therefore, Co.opmart should choose pricing policies and strategies that work best for them as well as attract customers, especially in the competitive market.

5.2.3 Co.opmart should focus on brand awareness to attract customers

Table 5.3: Descriptive statistics of brand awareness

Brand awareness is the third factor affecting consumer purchase decisions atCo.opmart (β = 0.110) Most respondents are aware of Co.opmart’ brand and quite familiar with Co.opmart’s brand Besides, they can know what the Co.opmart’s brand looks like or recognize Co.opmart’s brand among other competing brands. Therefore, Co.opmart should build and develop their brand to attract more customers.

5.2.4 Co.opmart should focus on brand association to attract customers

Table 5.4: Descriptive statistics of brand association

Brand association is the least factor affecting consumer purchase decisions at Co.opmart (β = 0.097) When customers remember Co.opmart, they can quickly recall its symbol or logo Moreover, Co.opmart’s brand is different from its competing brands Therefore, Co.opmart should enhance their image in order to attract customers.

The study identified brand equity that influences customer purchase decisions at Co.opmart and examined how brand equity impacts buying decision of customers at Co.opmart Moreover, this study demonstrated the importance of components of brand equity in buying products at Co.opmart This study also presented some practical implications and recommendations in order to formulate strategies that meet the target groups more effectively as well as enhance Co.opmart brand.

In addition, this study contributes to the literature on conceptualizations and quantifications of brand equity impact on customer purchase decision Both practitioners and academic researchers in the marketing business who are interested in brand equity may find the proposed set of factors in this study It is worthy to disclose that while previous researches have offered results on brand equity and purchase decision, the majority of them come from various industries and regions around the world This is the first study to examine the influence of brand equity on customer buying decision at Co.opmart in Ho Chi Minh city.

In general, the conducted discussions can contribute to the improvement of understanding the components of brand equity that affect customer purchase decision at Co.opmart It becomes a key in improving Co.opmart’s brand and formulating effective strategies that can be applied by Co.opmart with the aims to attract customers to buy more products.

Finally, this study discovered answers to describe the profile of respondents in terms of gender, age, occupation, frequency visiting Co.opmart and spending to compare and find out differences in the customer purchase decision.

Limitations and directions for future researches

As with any study, there are several limitations in this study The first limitation is the time and location of the survey, which means that many consumers who bought products at Co.opmart in Ho Chi Minh city could not be surveyed. Secondly, this study focused on five components of brand equity, namely brand awareness, brand association, brand loyalty, perceived quality and pricing policy, ignoring important elements of brand equity such as advertising, reputation, commercial image,… The third limitation is the sampling method used in this study for the reason that convenience sampling is a non - probability sampling, which is not representative of the entire population in Ho Chi Minh City Finally, this study only used a sample size of 251 respondents, which is only guaranteed by the theory of sample selection If the sample size is bigger, the study's value will be higher.

Given the promising results that were achieved as well as the limitations of the study stated above, there are numerous potential avenues for further research that might be explored Among these future researches should increase the sample size by conducting more surveys of consumers who bought products at Co.opmart and consider other components of brand equity such as advertising, reputation,commercial image,… that can impact purchase decision of customers at Co.opmart.

Summary

Chapter 5 showed general conclusions about the results of this study and presented new findings of this study, some limitations as well as directions for future researches In addition, this chapter also offered some implications to improve the brand equity of Co.opmart and attract customers to buy more products.

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The influence of brand equity on customer purchase decision:

A case study of Co.opmart

Currently, I am undertaking a research entitled “The influence of brand equity on customer purchase decision: A case study of Co.opmart” I hope that you will take your time to help me complete this survey All your responds play an important role in the success of this study Thus, it is fully for academic purpose and all the information submitted will be treated with maximum caution and confidentiality.

I thank you in advance, for your concern and time.

1 Which retail brands do you usually buy during the Covid - 19 pandemic? (can choose more than 1)

2 The way you shop during Covid - 19 pandemic is:

□ Online shopping □ Offline shopping □ Both

3 Do you live in Ho Chi Minh city?

4 Have you ever bought products at Co.opmart?

5 Products that you usually buy at Co.opmart (can choose more than 1):

6 How often do you visit Co.opmart?

7 How much do you spend when you shop at Co.opmart?

9 Which of following age groups do you belong to?

Please indicate the extent to which you agree with the following statement by ticking the appropriate answer using the scale below:

1 I am aware of Co.opmart’s brand 1 2 3 4 5

2 I know what Co.opmart’s brand looks like 1 2 3 4 5

When I think about consumer goods such as frozen food, canned food, drink etc Co.opmart's brand is the brand that comes to my mind first

4 I can recognize Co.opmart’s brand among other competing brands 1 2 3 4 5

Co.opmart’s brand come to my quickly

7 I can quickly recall the symbol or logo of Co.opmart’s brand 1 2 3 4 5

8 Co.opmart’s brand is different from its competing brands 1 2 3 4 5

9 Co.opmart brand is interesting 1 2 3 4 5

10 My first purchase option is

11 I am loyal to Co.opmart’s brand 1 2 3 4 5

12 I recommended Co.opmart's brand to anyone who seeks my opinion 1 2 3 4 5

13 I will not buy other brands if

Co.opmart stores are available 1 2 3 4 5

14 The products of Co.opmart's brand have a high quality 1 2 3 4 5

15 The products of Co.opmart's brand are trustworthy 1 2 3 4 5

16 I'm satisfied with the quality of

17 Co.opmart’s brand lives up to its promises with customers 1 2 3 4 5

Pricing policies of Co.opmart are always in line with customer preference

In comparison with the competitors’ pricing policies, pricing policies of Co.opmart are better

When shopping at Co.opmart, good price policy encourages me to buy more products

Tiêu đề	The Influence Of Brand Equity On Customer Purchase Decision: A Case Study Of Co.opmart
Tác giả	Trần Thị Hồng Đào
Người hướng dẫn	Ph.D Nguyễn Văn Thuy
Trường học	Banking University of Ho Chi Minh City
Chuyên ngành	Business Administration
Thể loại	Bachelor Thesis
Năm xuất bản	2021
Thành phố	HCMC

Định dạng
Số trang	107
Dung lượng	243,21 KB