Strengthening Perceived Quality

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Analysis of Factors Affecting Brand Equity on Nike Running Shoes Products (Study of Nike Running Shoe Users at Merdeka Square, Medan City)

Introduction

In the competitive world of sports equipment, running shoes are a crucial component for runners to achieve their goals. Among the numerous brands available in the market, Nike stands out as one of the most renowned and respected brands in the industry. To maintain its position and continue to grow, Nike needs to focus on building its brand equity, which is a critical factor in determining the success of any brand. This study aims to analyze the factors that affect the equity of the Nike running shoes brand in Medan, specifically targeting users at Merdeka Square.

Background of the Study

Nike is a well-established brand that has been in the market for decades, known for its innovative designs, high-quality products, and effective marketing strategies. The brand has managed to create a strong presence in the running shoe market, with a loyal customer base that continues to grow. However, to maintain its position and continue to grow, Nike needs to pay attention to the factors that can build its brand equity.

Research Objectives

The primary objective of this study is to analyze the factors that affect the equity of the Nike running shoes brand in Medan. Specifically, this research focuses on four main factors:

*** Brand Awareness: ** How familiar users are with the Nike brand and its products. *** Perceived Quality: ** User perception of the quality of Nike Running Shoes products. *** Brand Association: ** The association formed in the user's mind towards the Nike brand, such as excellence, lifestyle, or the values carried. *** Brand Loyalty: ** How loyal users are to the Nike brand and how much it is likely they are to choose Nike in the future.

Methodology

This research was conducted at Merdeka Square in Medan, Indonesia, from April to May 2015. The respondents were users of Nike running shoes in Medan, who were selected through a random sampling method. Data was collected through questionnaires and interviews, which were then analyzed using associative analysis methods with a quantitative approach.

Results

The results of this study showed that the four variables, namely brand awareness, perceived quality, brand associations, and brand loyalty, together can explain the variations that occur in the brand equity of Nike running shoes. Partial analysis revealed that brand awareness and perceived quality have a significant and positive influence on the brand equity of Nike running shoes. On the other hand, the brand association and brand loyalty variables have no significant effect on the brand equity of Nike running shoes.

Discussion

The findings of this study suggest that brand awareness and perceived quality are crucial factors in building the brand equity of Nike running shoes in Medan. These two factors are closely related, as users who are familiar with the Nike brand and its products are more likely to perceive the quality of the products as high. This, in turn, can lead to a positive association with the brand, which can ultimately result in brand loyalty.

Recommendations

Based on the findings of this study, the following recommendations are made to Nike:

Increasing Brand Awareness: ** Through effective marketing campaigns, both online and offline, to introduce the Nike brand and its products to the target market. *Strengthening Perceived Quality: ** Maintaining product quality by using high-quality materials, innovative designs, and the latest technology. Running a satisfying customer service program to build trust and increase perceived quality. Building Brand Association: ** Building a marketing campaign that focuses on brand values and product benefits to build positive associations in the user's mind. Building Brand Loyalty: ** Providing loyalty programs for loyal customers, such as discounts, exclusive access, and reward programs. Building a runner community that can provide a sense of involvement and increase loyalty.

Conclusion

In conclusion, this study has provided valuable insights into the factors that affect the equity of the Nike running shoes brand in Medan. The findings suggest that brand awareness and perceived quality are crucial factors in building brand equity, while brand association and brand loyalty have no significant effect. By understanding these factors, Nike can develop marketing strategies that are right on target and improve its position in the running shoe market in Medan.

Limitations of the Study

This study has several limitations that need to be acknowledged. Firstly, the study was conducted in a specific location, Merdeka Square in Medan, which may not be representative of the entire market. Secondly, the study only focused on four main factors, which may not be exhaustive. Finally, the study used a quantitative approach, which may not capture the nuances of the data.

Future Research Directions

Future research can build on the findings of this study by exploring other factors that affect brand equity, such as social media marketing, influencer marketing, and customer engagement. Additionally, future research can use a mixed-methods approach to capture the nuances of the data and provide a more comprehensive understanding of the factors that affect brand equity.

References

[1] Aaker, D. A. (1991). Managing brand equity: Capitalizing on the value of a brand name. Free Press.
[2] Keller, K. L. (1993). Conceptual framework and strategic implications for brand extension. Journal of Marketing, 57(1), 1-15.
[3] Keller, K. L. (2003). Strategic brand management: Building, measuring, and managing brand equity. Prentice Hall.
[4] Lassar, W., & Mittal, B. (1993). Measuring consumer-based brand equity. Journal of Consumer Marketing, 10(4), 11-19.
[5] Nguyen, T. T. M., & Leblanc, G. (2001). Brand equity, customer satisfaction, and market share: An empirical study. European Journal of Marketing, 35(1/2), 90-108.

Appendices

[1] Questionnaire used in the study
[2] Interview protocol used in the study
[3] Data analysis procedures used in the study
Q&A: Analysis of Factors Affecting Brand Equity on Nike Running Shoes Products

Introduction

In our previous article, we discussed the analysis of factors affecting brand equity on Nike running shoes products, specifically targeting users at Merdeka Square in Medan, Indonesia. This Q&A article aims to provide further insights and answers to common questions related to the study.

Q1: What is brand equity, and why is it important for Nike?

A1: Brand equity refers to the value and reputation of a brand, which is built over time through various marketing efforts and customer interactions. It is essential for Nike to maintain a strong brand equity to remain competitive in the market and to continue to grow its customer base.

Q2: What are the four main factors that affect brand equity, as identified in the study?

A2: The four main factors that affect brand equity, as identified in the study, are:

Q3: What are the results of the study, and how do they relate to brand equity?

A3: The results of the study showed that brand awareness and perceived quality have a significant and positive influence on brand equity, while brand association and brand loyalty have no significant effect. This suggests that Nike should focus on building brand awareness and perceived quality to improve its brand equity.

Q4: What are some recommendations for Nike to improve its brand equity?

A4: Based on the findings of the study, the following recommendations are made to Nike:

Q5: What are some limitations of the study, and how can they be addressed in future research?

A5: The study has several limitations, including:

The study was conducted in a specific location, Merdeka Square in Medan, which may not be representative of the entire market.
The study only focused on four main factors, which may not be exhaustive.
The study used a quantitative approach, which may not capture the nuances of the data.

Future research can address these limitations by:

Conducting the study in multiple locations to increase generalizability.
Exploring other factors that affect brand equity, such as social media marketing, influencer marketing, and customer engagement.
Using a mixed-methods approach to capture the nuances of the data.

Q6: What are some future research directions for this study?

A6: Future research can build on the findings of this study by:

Exploring the impact of social media marketing on brand equity.
Investigating the role of influencer marketing in building brand loyalty.
Examining the effects of customer engagement on brand association and brand loyalty.

Q7: What are some practical implications of the study for Nike and other brands?

A7: The study has several practical implications for Nike and other brands, including:

The importance of building brand awareness and perceived quality to improve brand equity.
The need to focus on building brand association and brand loyalty through effective marketing campaigns and customer engagement.
The importance of maintaining product quality and providing satisfying customer service to build trust and increase perceived quality.

Q8: What are some theoretical implications of the study for marketing theory?

A8: The study has several theoretical implications for marketing theory, including:

The importance of considering multiple factors that affect brand equity, such as brand awareness, perceived quality, brand association, and brand loyalty.
The need to develop a comprehensive framework for understanding brand equity that takes into account the complexities of the market.
The importance of using a mixed-methods approach to capture the nuances of the data and provide a more comprehensive understanding of the factors that affect brand equity.

Conclusion

In conclusion, this Q&A article provides further insights and answers to common questions related to the analysis of factors affecting brand equity on Nike running shoes products. The study highlights the importance of building brand awareness and perceived quality to improve brand equity, and provides recommendations for Nike and other brands to improve their brand equity. Future research can build on the findings of this study by exploring other factors that affect brand equity and using a mixed-methods approach to capture the nuances of the data.