BRAND EQUITY, BRAND LOYALTY AND MEDIATING ROLE OF CUSTOMER SATISFACTION: EVIDENCE FROM MEDICAL COSMETICS BRANDS

Year 2022, , 156 - 171, 30.09.2022

Mohammad Karamı

https://doi.org/10.17261/Pressacademia.2022.1627

Abstract

Purpose- The importance of concepts such as brand loyalty, brand equity and customer satisfaction towards brands has been dramatically
shown in marketing literature throughout recent decades. Current study aims to examine the mediating role of consumer satisfaction in
relation to consumer-based brand equity and brand loyalty in the medical cosmetics industry, whilst empirically investigating the interrelationships between dimensions of brand equity.
Methodology- A theoretical model was adopted using Structural Equation Modeling (SEM) relying on data collected from 275 respondents.
Moreover, the scales of this study borrowed from the literature were modified using validity and reliability tests.
Findings- The empirical results reveal a significant inter-relationship between dimensions of brand equity-perceived quality, brand
knowledge and brand trust. Further, the result remarkably indicates the three dimensions having a positive effect on consumer satisfaction
and brand loyalty, and customer satisfaction partially mediates the relationship between brand equity and brand loyalty.
Conclusion- The study findings may be applied to the cosmetics market, building, and enhancing long-term relationships with customers by
focusing on brand equity culminating in successful brand loyalty.

Keywords

Brand equity, brand loyalty, customer satisfaction, medical cosmetics, Iran

References

• Aaker, D. (2010). Marketing challenges in the next decade. Journal of Brand Management, 17(5), 315–316. https://doi.org/10.1057/bm.2010.2
• Aaker, D. A. (1991). Managing brand equity: capitalizing on the value of a brand name. Free Press, Toronto.
• Aaker, D. A. (1996). Measuring brand equity across products and markets. California Management Review, 38(3), 102–120.
• Affairs, O. of R. (2019). Cosmetics Overview. FDA. https://www.fda.gov/industry/regulated-products/cosmetics-overview
• Alexandris, K., Zahariadis, P., Tsorbatzoudis, C., & Grouios, G. (2004). An empirical investigation of the relationships among service quality, customer satisfaction and psychological commitment in a health club context. European Sport Management Quarterly, 4(1), 36–52. https://doi.org/10.1080/16184740408737466
• Alhaddad, A. (2015). Perceived quality, brand image and brand trust as determinants of brand loyalty. Journal of Research in Business and Management, 3(4), 1–08.
• Armstrong, Denize, Volkov, Adam, Kotler, & Ang. (2020). Principles of Marketing (8th ed.). Pearson Australia (A Division of Pearson Australia Group Pty Ltd.
• Atulkar, S. (2020). Brand trust and brand loyalty in mall shoppers. Marketing Intelligence & Planning, 38(5), 559–572. https://doi.org/10.1108/mip-02-2019-0095
• Atulkar, S., & Kesari, B. (2017). Impulse buying: a consumer trait prospective in context of central India. Global Business Review, 19(2), 477– 493. https://doi.org/10.1177/0972150917713546
• Auh, S., Salisbury, L. C., & Johnson, M. D. (2003). Order effects in customer satisfaction modelling. Journal of Marketing Management, 19(3- 4), 379–400. https://doi.org/10.1080/0267257x.2003.9728215
• Hassali, M. A., Al-Tamimi, S. K., Dawood, O. T., Verma, A. K., & Saleem, F. (2015). Malaysian cosmetic market: Current and future prospects. Pharmaceut Reg Affairs, 4(4), 155-157. https://doi.org/10.4172/2167-7689.1000155
• Baldinger, A. L., & Rubinson, J. (1996). Brand loyalty: the link between attitude and behavior. Journal of Advertising Research, 36, 22–36.
• Belén del Río, A., Vázquez, R., & Iglesias, V. (2001). The effects of brand associations on consumer response. Journal of Consumer Marketing, 18(5), 410–425. https://doi.org/10.1108/07363760110398808
• Berry, L. L. (2000). Cultivating service brand equity. Journal of the Academy of Marketing Science, 28(1), 128–137. https://doi.org/10.1177/0092070300281012
• Boenigk, S., & Helmig, B. (2013). Why do donors donate? Journal of Service Research, 16(4), 533–548. https://doi.org/10.1177/1094670513486169
• Brakus, J. J., Schmitt, B. H., & Zarantonello, L. (2009). Brand experience: what is it? How is it measured? Does it affect loyalty? Journal of Marketing, 73(3), 52–68. https://doi.org/10.1509/jmkg.73.3.52
• Chan, Y. Y., & Mansori, S. (2016). Factor that influences consumers' brand loyalty towards cosmetic products. Journal of marketing management and consumer behavior, 1(1), 12-29.
• Chaudhuri, A., & Holbrook, M. B. (2001). The chain of effects from brand trust and brand affect to brand performance: the role of brand loyalty. Journal of Marketing, 65(2), 81–93. https://doi.org/10.1509/jmkg.65.2.81.18255
• Chen, Y.-S. (2009). The drivers of green brand equity: green brand image, green satisfaction, and green trust. Journal of Business Ethics, 93(2), 307–319. https://doi.org/10.1007/s10551-009-0223-9
• Chien-Hsiung, L. (2011). A study on the relationship between the brand image and customer satisfaction in the catering businesses. African Journal of Business Management, 5(18), 7732–7739.
• Chinomona, R. (2016). Brand communication, brand image and brand trust as antecedents of brand loyalty in Gauteng Province of South Africa. African Journal of Economic and Management Studies, 7(1), 124–139. https://doi.org/10.1108/ajems-03-2013-0031
• Chiou, J.-S., & Pan, L.-Y. (2009). Antecedents of internet retailing loyalty: differences between heavy versus light shoppers. Journal of Business and Psychology, 24(3), 327–339. https://doi.org/10.1007/s10869-009-9111-7
• Chiou, J.-S., Droge, C., & Hanvanich, S. (2002). Does customer knowledge affect how loyalty is formed? Journal of Service Research, 5(2), 113–124. https://doi.org/10.1177/109467002237494
• Coelho, P. S., Rita, P., & Santos, Z. R. (2018). On the relationship between consumer-brand identification, brand community, and brand loyalty. Journal of Retailing and Consumer Services, 43(1), 101–110. https://doi.org/10.1016/j.jretconser.2018.03.011
• Cooil, B., Keiningham, T. L., Aksoy, L., & Hsu, M. (2007). A longitudinal analysis of customer satisfaction and share of wallet: investigating the moderating effect of customer characteristics. Journal of Marketing, 71(1), 67–83. https://doi.org/10.1509/jmkg.71.1.67
• Cosmetic market value worldwide, 2018-2025. (n.d.). Statista. Retrieved May 19, 2022, from https://www.statista.com/statistics/585522/global-value-cosmeticsmarket/#:~:text=Global%20value%20of%20the%20cosmetics %20market%202018%2D2025&text=This%20statistic%20shows%20the%20value
• Darsono, L. I., & Junaedi, C. M. (2006). An Examination of Perceived Quality, Satisfaction, and Loyalty Relationship: Applicability of Comparative and Noncomparative Evaluation. Gadjah Mada International Journal of Business, 8(3), 323-342. https://doi.org/10.22146/gamaijb.5612
• del Bosque, I. R., & Martín, H. S. (2008). Tourist satisfaction a cognitive-affective model. Annals of Tourism Research, 35(2), 551–573. https://doi.org/10.1016/j.annals.2008.02.006
• Delgado‐Ballester, E., & Luis Munuera‐Alemán, J. (2001). Brand trust in the context of consumer loyalty. European Journal of Marketing, 35(11/12), 1238–1258. https://doi.org/10.1108/eum0000000006475
• Dimitriades, Z. S. (2006). Customer satisfaction, loyalty and commitment in service organizations. Management Research News, 29(12), 782– 800. https://doi.org/10.1108/01409170610717817
• Doyle, P. (2001). Shareholder-value-based brand strategies. Journal of Brand Management, 9(1), 20–30. https://doi.org/10.1057/palgrave.bm.2540049
• Dyson, P., Farr, A., & Hollis, N. S. (1996). Understanding, measuring, and using brand equity. Journal of Advertising Research, 36(6), 9–22.
• Erkmen, E., & Hancer, M. (2019). Building brand relationship for restaurants. International Journal of Contemporary Hospitality Management, 31(3), 1469–1487. https://doi.org/10.1108/ijchm-08-2017-0516
• Farquhar, P. H. (1989). Managing brand equity. Marketing research, 1(3), 24-33.
• Fornell, C., & Larcker, D. F. (1981). Evaluating structural equation models with unobservable variables and measurement error. Journal of Marketing Research, 18(1), 39–50. https://doi.org/10.2307/3151312
• Fornell, C., Johnson, M. D., Anderson, E. W., Cha, J., & Bryant, B. E. (1996). The American customer satisfaction index: nature, purpose, and findings. Journal of marketing, 60(4), 7-18. https://doi.org/10.2307/1251898
• Gómez, M. I., McLaughlin, E. W., & Wittink, D. R. (2004). Customer satisfaction and retail sales performance: an empirical investigation. Journal of Retailing, 80(4), 265–278. https://doi.org/10.1016/j.jretai.2004.10.003
• Grisaffe, D. B., & Nguyen, H. P. (2011). Antecedents of emotional attachment to brands. Journal of Business Research, 64(10), 1052–1059. https://doi.org/10.1016/j.jbusres.2010.11.002
• Hair, J., Anderson, R., Babin, B., & Black, W. (2018). Multivariate Data Analysis (8th ed.). Cengage Learning EMEA.
• Hamid Hawass, H. (2013). Brand trust: implications from consumer doubts in the Egyptian mobile phone market. Journal of Islamic Marketing, 4(1), 80–100. https://doi.org/10.1108/17590831311306363
• Han, H., Yu, J., Chua, B.-L., Lee, S., & Kim, W. (2019). Impact of core-product and service-encounter quality, attitude, image, trust and love on repurchase. International Journal of Contemporary Hospitality Management, 31(4), 1588–1608. https://doi.org/10.1108/ijchm-05-2018-0376
• Harman, H. H. (1976). Modern Factor Analysis (3rd ed.). University of Chicago Press.
• He, H., Li, Y., & Harris, L. (2012). Social identity perspective on brand loyalty. Journal of Business Research, 65(5), 648–657. https://doi.org/10.1016/j.jbusres.2011.03.007
• Hegner, S. M., & Jevons, C. (2016). Brand trust: a cross-national validation in Germany, India, and South Africa. Journal of Product & Brand Management, 25(1), 58–68. https://doi.org/10.1108/jpbm-02-2015-0814
• Helmig, B., Huber, J.-A., & Leeflang, P. (2007). Explaining behavioural intentions toward co-branded products. Journal of Marketing Management, 23(3-4), 285–304. https://doi.org/10.1362/026725707x196387
• Hosseini, M. H., & Ahmadi Nejad, M. (2009). Examining the effects of customer satisfaction and trust and specific trademark value in customer loyalty and attitudinal behavior: A case study of Refah Bank. Commerce Review, 33, 42–51.
• Hoyer, W. D., & Brown, S. P. (1990). Effects of brand awareness on choice for a common, repeat-purchase product. Journal of consumer research, 17(2), 141-148. https://doi.org/10.1086/208544
• Hsieh, M., & Lindridge, A. (2005). Universal appeals with local specifications. Journal of Product & Brand Management, 14(1), 14–28. https://doi.org/10.1108/10610420510583716
• Hsu, C., & Cai, L. A. (2009). Brand knowledge, trust and loyalty-a conceptual model of destination branding. In International CHRIE conferencerefereed track.
• Huaman-Ramirez, R., & Merunka, D. (2019). Brand experience effects on brand attachment: the role of brand trust, age, and income. European Business Review, 31(5), 610–645. https://doi.org/10.1108/ebr-02-2017-0039
• Ilyas, G. B., Rahmi, S., Tamsah, H., Munir, A. R., & Putra, A. H. P. K. (2020). Reflective model of brand awareness on repurchase intention and customer satisfaction. The Journal of Asian Finance, Economics and Business, 7(9), 427-438. https://doi.org/10.13106/jafeb.2020.vol7.no9.427
• Iran Statistical Yearbook 2018-2019. (n.d.). www.Amar.org.Ir. Retrieved 2019, from https://www.amar.org.ir/english/Iran-StatisticalYearbook/Statistical-Yearbook-2018-2019.
• Iran: sales value for skin care products 2020. (n.d.). Statista. Retrieved March 13, 2022, from https://www.statista.com/statistics/816616/iran-skin-care-product-sales-value/
• John, O. P., & Benet-Martínez, V. (2000). Measurement, scale construction, and reliability. Handbook of Research Methods in Social and Personality Psychology, 339-369.
• Jones, M. A., & Suh, J. (2000). Transaction‐specific satisfaction and overall satisfaction: an empirical analysis. Journal of Services Marketing, 14(2), 147–159. https://doi.org/10.1108/08876040010371555
• karami, M., & karami, S. (2021). COVID-19, a “Black Swan” Event for Cosmetic Market: Evidence from United Kingdom. International Journal of Management, Accounting and Economics (IJMAE), 8(1), 42–51. https://doi.org/https://doi.org/10.5281/zenodo.4592474
• Kataria, S., & Saini, V. (2019). The mediating impact of customer satisfaction in relation of brand equity and brand loyalty. South Asian Journal of Business Studies, 9(1), 62–87. https://doi.org/10.1108/sajbs-03-2019-0046
• Keller, K. L. (1993). Conceptualizing, Measuring, and Managing Customer-Based Brand Equity. Journal of Marketing, 57(1), 1–22. https://doi.org/10.2307/1252054
• Khan, M. T. (2013). Customers loyalty: Concept & definition (a review). International Journal of Information, Business and Management, 5(3), 168-191.
• Khawaja, L., Ali, A. A., & Mostapha, N. (2021). The mediating effect of customer satisfaction in relationship with service quality, corporate social responsibility, perceived quality and brand loyalty. Management Science Letters, 763–772. https://doi.org/10.5267/j.msl.2020.10.030
• Khodadad Hosseini, S. H., & Behboudi, L. (2017). Brand trust and image: effects on customer satisfaction. International Journal of Health Care Quality Assurance, 30(7), 580–590. https://doi.org/10.1108/ijhcqa-04-2016-0054
• Komunda, M., & Osarenkhoe, A. (2012). Remedy or cure for service failure? Business Process Management Journal, 18(1), 82–103. https://doi.org/10.1108/14637151211215028
• Kumar Mishra, M., Kesharwani, A., & Das, D. (2016). The relationship between risk aversion, brand trust, brand affect and loyalty. Journal of Indian Business Research, 8(2), 78–97. https://doi.org/10.1108/jibr-04-2015-0045
• Lai, F., Griffin, M., & Babin, B. J. (2009). How quality, value, image, and satisfaction create loyalty at a Chinese telecom. Journal of Business Research, 62(10), 980–986. https://doi.org/10.1016/j.jbusres.2008.10.015
• Lanza, K. M. (2008). The antecedents of automotive brand loyalty and repurchase intentions (Doctoral dissertation, University of Phoenix).
• Lassar, W., Mittal, B., & Sharma, A. (1995). Measuring customer‐based brand equity. Journal of Consumer Marketing, 12(4), 11–19. https://doi.org/10.1108/07363769510095270
• Ledikwe, A. (2020). Determinants of brand loyalty in the apparel industry: A developing country perspective. Cogent Business & Management, 7(1), 178-197. https://doi.org/10.1080/23311975.2020.1787736
• Lehmann, D. R., & Srinivasan, S. (2013). Assessing Brand Equity Through Add-on Sales. Customer Needs and Solutions, 1(1), 68–76. https://doi.org/10.1007/s40547-013-0002-8
• Lei, S., & Chu, L. (2015). The mediating role of consumer satisfaction in the relationship between brand equity and brand loyalty based on PLS-SEM Model. International business research, 8(2), 62-70. https://doi.org/10.5539/ibr.v8n2p62
• Leninkumar, V. (2017). The relationship between customer satisfaction and customer trust on customer loyalty. International Journal of Academic Research in Business and Social Sciences, 7(4), 450-465. https://doi.org/10.6007/ijarbss/v7-i4/2821
• Li, G., Li, G., & Kambele, Z. (2012). Luxury fashion brand consumers in China: Perceived value, fashion lifestyle, and willingness to pay. Journal of Business Research, 65(10), 1516–1522. https://doi.org/10.1016/j.jbusres.2011.10.019
• Lin, J., Lobo, A., & Leckie, C. (2017). The role of benefits and transparency in shaping consumers’ green perceived value, self-brand connection and brand loyalty. Journal of Retailing and Consumer Services, 35, 133–141. https://doi.org/10.1016/j.jretconser.2016.12.011
• Lin, M. Q., & Lee, B. C. (2012). The influence of website environment on brand loyalty: Brand trust and brand affect as mediators. International Journal of Electronic Business Management, 10(4), 308-321.
• Low, G. S., & Lamb, C. W. (2000). The measurement and dimensionality of brand associations. Journal of Product & Brand Management, 9(6), 350–370. https://doi.org/10.1108/10610420010356966
• Luo, X., & Homburg, C. (2007). Neglected outcomes of customer satisfaction. Journal of Marketing, 71(2), 133–149. https://doi.org/10.1509/jmkg.71.2.133
• Marradi, A. (1976). Richard W. Brislin, Walter J. Lonner, Robert M. Thorndike, Cross-Cultural Research Methods, New York, Wiley, 1973, pp. 351 [s. p.]. Italian Political Science Review/Rivista Italiana Di Scienza Politica, 6(1), 193–194. https://doi.org/10.1017/s0048840200005219
• Mattison Thompson, F., Newman, A., & Liu, M. (2014). The moderating effect of individual level collectivist values on brand loyalty. Journal of Business Research, 67(11), 2437–2446. https://doi.org/10.1016/j.jbusres.2014.02.011
• Mckinney, M., & Benson, A. (2013). The value of brand trust. Journal of Brand Strategy, 2(1), 76–86.
• Mcquitty, S., Finn, A., & Wiley, J. B. (2000). Systematically varying consumer satisfaction and its implications for product choice. Academy of Marketing Science Review, 10(1), 231–254.
• Mols, N. P. (1998). The behavioral consequences of PC banking. International Journal of Bank Marketing, 16(5), 195–201. https://doi.org/10.1108/02652329810228190
• Mourad, M., Ennew, C., & Kortam, W. (2010). Descriptive evidence on the role of corporate brands in marketing higher education services. Service Science, 2(3), 154–166. https://doi.org/10.1287/serv.2.3.154
• Murray, D., & Howat, G. (2002). The relationships among service quality, value, satisfaction, and future intentions of customers at an Australian sports and leisure centre. Sport Management Review, 5(1), 25–43. https://doi.org/10.1016/s1441-3523(02)70060-0
• Nam, J., Ekinci, Y., & Whyatt, G. (2011). Brand equity, brand loyalty and consumer satisfaction. Annals of Tourism Research, 38(3), 1009– 1030. https://doi.org/10.1016/j.annals.2011.01.015
• Nazir, B., Ali, M., & Jamil, M. (2016). The impact of brand image on the customer retention: A mediating role of customer satisfaction in Pakistan. International Journal of Business and Management Invention, 5(3), 56–61.
• Netemeyer, R. G., Krishnan, B., Pullig, C., Wang, G., Yagci, M., Dean, D., Ricks, J., & Wirth, F. (2004). Developing and validating measures of facets of customer-based brand equity. Journal of Business Research, 57(2), 209–224. https://doi.org/10.1016/s0148-2963(01)00303-4
• Nguyen, T. D., Barrett, N. J., & Miller, K. E. (2011). Brand loyalty in emerging markets. Marketing Intelligence & Planning, 29(3), 222–232. https://doi.org/10.1108/02634501111129211
• Nunnally, J. C. (1978). An overview of psychological measurement. Clinical diagnosis of mental disorders, 97-146.
• Oliver, R. L. (1999). Whence consumer loyalty? Journal of Marketing, 63(4), 33–44. https://doi.org/10.1177/00222429990634s105
• Oliver, R. L., & Westbrook, R. A. (1993). Profiles of consumer emotions and satisfaction in ownership and usage. The Journal of Consumer Satisfaction, Dissatisfaction and Complaining Behavior, 6, 12–27.
• Olsen, S. O. (2002). Comparative evaluation and the relationship between quality, satisfaction, and repurchase loyalty. Journal of the Academy of Marketing Science, 30, 240–249.
• Omoregie, O. K., Addae, J. A., Coffie, S., Ampong, G. O. A., & Ofori, K. S. (2019). Factors influencing consumer loyalty: evidence from the Ghanaian retail banking industry. International Journal of Bank Marketing, 37(3), 798–820. https://doi.org/10.1108/ijbm-04-2018-0099
• Pappu, R., & Quester, P. (2006). Does customer satisfaction lead to improved brand equity? An empirical examination of two categories of retail brands. Journal of Product & Brand Management, 15(1), 4–14. https://doi.org/10.1108/10610420610650837
• Park, C. S., & Srinivasan, V. (1994). a survey-based method for measuring and understanding brand equity and its extendibility. Journal of Marketing Research, 31(2), 271–288. https://doi.org/10.1177/002224379403100210
• Percy, L., & Rossiter, J. R. (1992). A model of brand awareness and brand attitude advertising strategies. Psychology and Marketing, 9(4), 263–274. https://doi.org/10.1002/mar.4220090402
• Pop, N. Al., Vaduva, S. A., Dabija, D. C., & Fotea, I. S. (2010). Consumers perception of corporate social responsibility empirical study in Romanian retail. International Journal of Social Ecology and Sustainable Development, 1(4), 1–9. https://doi.org/10.4018/jsesd.2010100101
• Preacher, K. J., & Hayes, A. F. (2008). Asymptotic and resampling strategies for assessing and comparing indirect effects in multiple mediator models. Behavior Research Methods, 40(3), 879–891. https://doi.org/10.3758/brm.40.3.879
• Rauyruen, P., & Miller, K. E. (2007). Relationship quality as a predictor of B2B customer loyalty. Journal of Business Research, 60(1), 21–31. https://doi.org/10.1016/j.jbusres.2005.11.006
• Reast, J. D. (2005). Brand trust and brand extension acceptance: the relationship. Journal of Product & Brand Management, 14(1), 4–13. https://doi.org/10.1108/10610420510583707
• Ridder, M. (2018). Cosmetic Market Value worldwide, 2018-2025 | Statista. Statista; Statista. https://www.statista.com/statistics/585522/global-value-cosmetics-market/
• Ridder, M. (2021, October 29). Topic: Cosmetics Industry. Statista. https://www.statista.com/topics/3137/cosmeticsindustry/#dossierKeyfigures
• Rubio, N., Villaseñor, N., & Yagüe, M. J. (2017). Creation of consumer loyalty and trust in the retailer through store brands: The moderating effect of choice of store brand name. Journal of Retailing and Consumer Services, 34, 358–368. https://doi.org/10.1016/j.jretconser.2016.07.014
• Rundle‐Thiele, S., & Maio Mackay, M. (2001). Assessing the performance of brand loyalty measures. Journal of Services Marketing, 15(7), 529–546. https://doi.org/10.1108/eum0000000006210
• Singh, J., & Sirdeshmukh, D. (2000). Agency and trust mechanisms in consumer satisfaction and loyalty judgments. Journal of the Academy of Marketing Science, 28(1), 150–167. https://doi.org/10.1177/0092070300281014
• Smith, D. C., & Aaker, D. A. (1992). Managing brand equity: capitalizing on the value of a brand name. Journal of Marketing, 56(2), 125. https://doi.org/10.2307/1252048
• Spreng, R. A., MacKenzie, S. B., & Olshavsky, R. W. (1996). A reexamination of the determinants of consumer satisfaction. Journal of Marketing, 60(3), 15–32. https://doi.org/10.1177/002224299606000302
• Szymanski, D. M., & Henard, D. H. (2001). Customer satisfaction: a meta-analysis of the empirical evidence. Journal of the Academy of Marketing Science, 29(1), 16–35. https://doi.org/10.1177/009207030102900102
• van der Westhuizen, L.-M. (2018). Brand loyalty: exploring self-brand connection and brand experience. Journal of Product & Brand Management, 27(2), 172–184. https://doi.org/10.1108/jpbm-07-2016-1281
• Vasudevan, S., & Peter Kumar, F. J. (2019). Changing realty: altering paths of brand discovery for real estate websites in India. Property Management, 37(3), 346–366. https://doi.org/10.1108/pm-03-2018-0020
• Villarejo-Ramos, A. F., & Sánchez-Franco, M. J. (2005). The impact of marketing communication and price promotion on brand equity. Journal of Brand Management, 12(6), 431–444. https://doi.org/10.1057/palgrave.bm.2540238
• Woo Gon Kim, Jin-Sun, B., & Hyun Jeong Kim. (2008). Multidimensional customer-based brand equity and its consequences in midpriced hotels. Journal of Hospitality & Tourism Research, 32(2), 235–254. https://doi.org/10.1177/1096348007313265
• Xie, C., & Sun, Z. (2021). Influence of perceived quality on customer satisfaction in different stages of services. Nankai Business Review International, 12(2), 258–280. https://doi.org/10.1108/nbri-01-2020-0004
• Yoo, B., Donthu, N., & Lee, S. (2000). an examination of selected marketing mix elements and brand Equity. Journal of the Academy of Marketing Science, 28(2), 195–211. https://doi.org/10.1177/0092070300282002
• Yoon, S.-J. (2002). The antecedents and consequences of trust in online-purchase decisions. Journal of Interactive Marketing, 16(2), 47–63. https://doi.org/10.1002/dir.10008
• Zeithaml, V. A. (2000). Service quality, profitability, and the economic worth of customers: what we know and what we need to learn. Journal of the Academy of Marketing Science, 28(1), 67–85.
• Zhang, Y. (2015). The impact of brand image on consumer behavior: A literature review. Open Journal of Business and Management, 3(1), 58–62. https://doi.org/10.4236/ojbm.2015.31006