Impact Of Brand Equity On Customer Intention To Buy Products

Impact of Brand Equity on Customer Intention to Buy Products Online Ajay Kumar Tiwari*

Abstract: While many consumers in India frequently shop on the Internet, research on what is the impact of Brand Equity on customer Intension to buy products Online is done to typically understand consumers well. In the new economy, the role of brands and branding that is characterised by digitisation and globalisation are attracting considerable attention. Online Branding has become an important tool for marketers and organization in building a strong and sustainable Brand. Brand equity is one of the most important factors affecting Online Branding. In this research paper the significance and impact of “Online Brand equity” on “customer intention to buy products online” is studied. This paper therefore proposes a framework to enhance researcher’s understanding of consumer’s intention toward shopping Online due to the impact of Brand Equity. The proposed framework uses the David Aaker’s (1996) Brand Equity model as the starting point, further supported by the framework proposed by George Christodoulides and Leslie de Chernatony (2004). The study considers different factors affecting customer purchase intention. The study has analysed to find whether “Brand Equity” or “Non- Brand Equity” factors are having greater impact on customer purchase intention. The result shows that customer intention is impacted more by the Brand Equity factors. Keywords: Brand Equity, Non- Brand Equity, Customer Purchase Intension, Online Purchase.

*VIT Business School, VIT University, Vellore (TN), 07MBA006, 9944308529, [email protected]

INTRODUCTION: Today the Internet is a major communication and transaction medium. The explosive expansion of e-commerce since the 1990s has dramatically changed the retail landscape in the world economy. In the USA, the combined monetary value for Internet-related businesses is expected to grow to around $1.4 trillion by 2003 (Davis, 1999). It is estimated that between 700 million and 950 million people used the Internet in 2004 and that close to 500 million of these people were frequent users (i.e., more than once a week). Approximately 200 million people engaged in buying products on the Internet, with worldwide online retail sales approaching $70 billion in 2004 (e.g., United States: $44 billion; Europe: $10 billion; Asia: $10 billion). Yearly Internet retail sales growth averaged 30% per year from 2001 to 2008 and is expected to grow at a similar rate in the near future. Despite the strong growth of Internet sales, the internet as a channel for product sales has not been as successful as was once projected. The low shopper conversion rate has been the greatest obstruction to sales on Internet and growth, that is, the percentage of visitors to a retail site who actually make a purchase. The conversion rate of Internet shoppers averages only 4.9% among the top 100 Internet retailers (Nielsen/ Net Ratings 2005), a rate significantly lower than experienced by comparable firms using traditional retailing channels. Moreover, research shows that between 65% and 75% of consumers who initiate an online transaction fail to complete the transaction (Mummert & Partner 2001). Different Survey and Research suggests that the process of online shopping is not affected significantly by pleasurable experiences, social interaction, and personal consultation by a Brand on the Internet. Online shopping experience of customers can be made splendid by the strong Brand equity of the Online brands. Different reports and surveys suggest that consumers feel helpless while shopping online i.e. virtually in unfamiliar or complex product categories. Thus, improving the Internet shopping experience should improve the conversion rate of potential buyers. To increase the entertainment value, information value, and customer satisfaction of Web-based shopping experiences, one approach is to use “Brand Equity” (Aaker, 1996). Brand equity is like a virtual character that can be used as company representative. Brand equity can serve as identification figures, as personal shopping assistants, as Web site guides, or as conversation partners. In these roles, Brand equity has the potential to fulfill the consumer’s desire for a more interpersonal shopping experience. Brand equity is having the potential to make effective interaction and make the shopping experience more interpersonal. Consequently, the information provided on the Web site should be perceived as more

important and critical, the shopping experience should become more enjoyable, and the likelihood of a purchase should increase. The goal of this research is to investigate the benefits of using Brand equity of online brands on Web sites in influencing customer intention to buy products online. Brand equity creates a more positive perception of the entertainment value and richness in information of a Web site. Consequently, shoppers are more satisfied with the retailer, more positive about the product, and more likely to purchase the product. A brand is a name, term, sign, symbol, design, or combination of these which is used to identify the goods or services of one seller or group of sellers and to differentiate them from those of competitors (Kotler 2002). Alternatively, De Chernatony and McDonald (1992) describe a brand as: . . . an identifiable product augmented in such a way that the buyer or user perceives relevant unique added values which match their needs most closely. Furthermore, its success results from being able to sustain these added values in the face of competition. This definition emphasises three aspects of a successful brand: (1) a brand is dependent on customer perception; (2) perception is influenced by the added-value characteristics of the product; and (3) the added value characteristics need to be sustainable.

Source: Kevin Lane Keller; Strategic Brand Management (Prentice-Hall, Inc. 1998); David Aaker, Building Strong Brands (New York: The Free Press, 1996)

Branding has been characterised as the process of creating value through the provision of a compelling and consistent offer and customer experience that will satisfy customers and keep them coming back (Aaker, 1991; De Chernatony and McDonald, 1992). As customers develop trust in the brand through satisfaction in use and experience, companies have the opportunity to start building relationships with them, strengthening the brand further and making it more difficult for competitors to imitate. The “brand equity” refers to the added value a brand name gives to a product or service (Aaker, 1991). Brand equity empowers companies to negotiate lower costs of distribution, increased effectiveness in marketing communication, and expanded growth opportunities from brand extensions and licences. This definition implies that brand equity can be analysed on two levels, depending on the beneficiary of value. The study of brand equity as value to customers is known as “customerbased brand equity” (or customer brand equity) and its study as financial value to the firm is known as “firm-based brand equity” (or organisational brand equity). Brand equity research in marketing has largely concentrated on customer-based as opposed to firm-based brand equity. This is because, unlike the firm-based approach which centres around financial valuation issues and provides little usable information for brand managers, the customer based approach offers insights into customer behaviour convertible into actionable brand strategies (Keller, 1993). According to Erdem and Swait (1998), brand names act as signals for consumers.

Source: Kevin Keller

Brand Equity: Traditional and Online specific factors David Aaker(1996) recommended ten different factors affecting Brand equity in Traditional scenario. Aaker also recommended, ten different factors affecting Brand equity in Online scenario. It was further justified by George Christodoulides and Leslie de Chernatony by extensive research practices. The factors affecting Brand equity in the Online scenario has been taken into consideration for studying their effect on Customer intention to buy products Online.

Source: David Aaker(1996) and ‘George Christodoulides & Leslie de Chernatony’(2001)

Online: Brand Equity and Non- Brand Equity factors Online- Brand Equity factors: In this research paper eight brand equity factors & their sub- factors have been considered in studying their impact on Customer intention to buy products online. They have been taken on the basis of the importance given to them by David Aaker(1996) and ‘George Christodoulides & Leslie de Chernatony’. These factors and their respective sub- factors are mentioned below:

Online Brand experience- Customer participation, Connection; Interactivity- Customer support, Interaction with company personnel; Customisation- Individual level- search and preferences; Relevance- Relevant search and Information; Site- Design- Presentation Quality, Ease of use, Site- Navigation, Information Architecture, Style/ Atmosphere; CustomerService- Timely and well arranged Information- Furnishing product, security and shipping Information, Product Availability- Links to Inventory, After Sales service, Automatic Order conformation; Order Fulfilment- Timely Delivery; Quality of Brand relationships- Emotional bond and personal commitment, Trust in Brand. Different factors affecting customers to buy products Online: Websites provide different medium and environment for customers to buy products online. There are different factors that affect Customer intention to buy products online. Efthymios Constantinides (2004) proposed these factors as per the different categories they belong to. These factors include both Brand equity factors and Non- Brand equity factors. All the factors can be listed as mentioned below. Fig. 006- Factors affecting customer intention to purchase

Source: Efthymios Constantinides, 2004, Internet Research Volume 14.

Online- Other Non Brand equity factors: There are other Non- Brand equity factors that affect customer intention to buy products online. These factors are mentioned below: Functionality factors (On the basis of Usability): Convenience- Product Display, Ease of Ordering; Accessibility/ Findability- Search facilities- Ease to find Information, Site- speed; Psychological factors (On the basis of Trust): Trust, Transaction security, Customer data safety, Guarantees/ Return policies; Content factors (On the basis of Marketing Mix): Product, Price, Promotion In this research paper, analysis is done by studying carefully, to understand “Which has greater impact on customer intention to buy products online- ‘Brand equity factors’ or ‘NonBrand equity factors’?”.

Customer Intention to buy products Online: Customer Intention to buy Online is characterized by his willingness to buy. E.g. to make repurchase, to suggest others to buy etc The contention in this paper is that, Brand equity influences customers to select and buy products of a Brand. Whether Brand equity has greater impact, in comparison to other nonbrand equity factors on customer intention to buy products online or not? In this research paper it is analysed- “Which one has greater impact on Customer intention to buy products Online- Brand equity factors or Non- Brand equity factors?”. Within this framework, the impact of brand equity & Non- Brand equity factors was studied and resulting measures were tested using data obtained from different respondents.

RESEARCH QUESTIONS: RQ1: What is the impact of the important Brand equity factors on Customer intention to buy products online (as per the Indian customers)? RQ2: What is the impact of the other non- Brand equity factors on Customer intention to buy products online (as per the Indian customers)? RQ3: Which one is having greater positive impact on Customer intention to buy products online?

HYPOTHESIS DEVELOPMENT: H1: There is no significant impact of Brand equity factors on Customer intention to buy products online. H2: There is no significant impact of Non- Brand equity factors on Customer intention to buy products online. H3: There is no significance difference between the impacts of Brand equity and Non- Brand equity factors on customer intention to buy products online.

LITERATURE REVIEW: Many researchers have studied different facets of Online Branding. Rowley (2004) projected the meaning, need and benefits of Online branding. She defined Online Branding then explained the need and importance of Online branding. It was proposed that Web pages have a significant role in online branding, so it elaborated how Web site elements can be arranged and grouped in order to communicate brand values and messages. Finally a model for the process associated with building online brands is proposed and discussed. Rowley (2004) did study on “Online branding: the case of McDonald’s” and explored the different approaches to deliver the messages of the Brand through its website. It explains the importance and attention to Brands and Online Branding and different elements of the web sites playing critical role in the delivery of messages has been discussed. The author has studied the McDonald’s campaign “I’m loving it”- How website plays an important role? She found that Internet significantly contributes towards Brand. Geoffrey (2007) study on “i-Branding”: developing the internet as a branding tool presented a conceptual framework of branding via the internet form; to show how that framework can, by organising and integrating current knowledge, assist marketing planners in the development of successful internet-based branding strategies. Author also describes about applying internet-based tools to the tasks of marketing communication and customer relationshipbuilding in particular. Four pillars of Branding has been considered and evaluated. Roblyn (2004) did study on “Evaluating the Branding potential of web-sites across borders” and evaluated the Branding potential of websites. The author has presented the AIPD“Attracting, Informing, Positioning and Delivering” approach for evaluating commercial websites within or across borders. This approach comprehensively specifies the different Internet strategies required for the websites for domestic or international purposes. The author has considered firms in the software sector. In this study comparison has been made between the Internet strategies of Japanese and US software firms. The results showed that US firms created more dynamic and innovative Internet strategies for web-sites. Rios and Hernan (2008) studied “Brand equity for online companies” and analysed if the traditional approach to measuring brand equity applies to online companies. He emphasized that traditional consumer-based brand equity measures and concepts for online companies differ in degree, not kind. Differences are due to variability in services. Author argued that brand equity has some specific and differentiated antecedents for online retail. He supports partially for the application of the offline brand equity theoretical framework based on brand

awareness, brand associations and loyalty for online companies. Brand loyalty and brand value associations directly create brand equity. Haizhong did study on “Global brand equity model: combining customer-based with productmarket outcome approaches” and found that there is a growing interest in brand formation and brand valuation among global firms today, but global marketers typically ignore one of the key factors of brand building– corporation ability association. The Author explored the structural relationship between CAA and consumer-based brand equity variables and its product-market outcomes. Christodoulides and de Chernatony (2004) did extensive study on “Dimensionalising on- and offline brands’ composite equity” and approaches the subject of brand equity measurement on and offline. He argued that since branding on the Web needs to address the unique characteristics of computer-mediated environments, it was posited that classical measures of brand equity were inadequate for this category of brands. Aaker’s guidelines for building a brand equity measurement system were thus followed and his brand equity ten was employed as a point of departure. The main challenge was complementing traditional measures of brand equity with new measures pertinent to the Web. Perea and Benedict (2004) did study on “What drives consumers to shop online?” and proposed a framework i.e. Technology Acceptance Model (TAM) as a basis to increase researchers’ understanding of consumers’ attitudes toward online shopping and their intention to shop on the Internet. Author found that attitudes toward online shopping and intention to shop online are not only affected by ease of use, usefulness, and enjoyment, but also by exogenous factors like consumer traits, situational factors, product characteristics, previous online shopping experiences, and trust in online shopping. Park and Gul Kim (2003) did remarkable study on “Identifying key factors affecting consumer purchase behaviour in an online shopping context” and investigated the relationship between various characteristics of online shopping and consumer purchase behaviour. Results of the online survey with 602 Korean customers of online bookstores indicate that information quality, user interface quality, and security perceptions affect information satisfaction and relational benefit, which in turn, are significantly related to each consumer's site commitment and actual purchase behaviour.

METHODOLOGY: RESEARCH PURPOSE: This research is having the basic research design as Descriptive, since it involves the description and study of the characteristics of Brand equity and NonBrand equity factors from a particular group of respondents chosen from the population. This study also considers the Causal research design. Since the Impact of Brand equity on Customer intention to buy products online is studied, there exist causal relationship between Dependent and independent variables being studied. RESEARCH APPROACH: This Research study is Quantitative in nature. So, quantitative research techniques are used to do required analysis of the data. Statistical and mathematical tools are used on the data to analyse, interpret and conclude the result of the analysis. RESEARCH STRATEGY: SAMPLING: The Sampling for this Research study was done by selecting 250 elements (no. of respondents) out of chosen targeted population. In this research non-probability sampling technique is used for selecting the elements out of population from whom the data is collected. Under the non-probability sampling we would be using purposive sampling for this research. Purposive- Judgement sampling is used for the selection of samples from population. This study requires responses of people who are frequent users of internet and who buy products online. This requires collecting data from people who are net savvy and belong to place where proper Internet connectivity is available. This study is having eighteen Brand equity variables and ten Non- Brand equity variables. So, total twenty eight variables are there. The sample size could be taken as: 28*10= 280. So, 280 respondents were selected, out of which 30 respondents gave responses improperly. These 30 respondent’s responses were not eligible to be analysed. Therefore, remaining 250 respondents have been taken into consideration whose data was used during analysis. TIME- HORIZON: The data was collected for this research for a particular interval of time. So, Cross- sectional study was conducted during the interval of “Jan, 2009 to April, 2009”. DATA COLLECTION: PLACE- Chennai, Bangalore, Delhi, Mumbai and Vellore. These locations were chosen for data collection, because people residing here are highly educated and have high Income levels. The people are net savvy and have bought products (who already bought few times) online. In Vellore mainly VITU students and CMC doctors were targeted who are net savvy and usually buy products online.

The secondary data was collected from Academic electronic Databases, Internet and Online Journals, Research articles/ Reports, News papers, Magazines, Books etc. The Primary data was collected through structured Questionnaire. As this is a Quantitative study so questionnaires were distributed to desired samples to gather particular set of information required for the study. Questionnaire- The questionnaire was designed in such a way so as to get clear idea of respondents regarding their perception towards Brand equity and Non- Brand equity factors. It was designed to elicit response that clarifies the impact on purchase intention of respondents in online scenario. DATA ANALYSIS: After all the data been collected the analysis of the data begins. Here we used SPSS 7.5 for analysis of the data, also windows excel for the graphs related works. So the data were presented in descriptive and graphical form. The data collected has been evaluated by: Percentage Analysis; Avg. mean scores of Brand Equity and Non- Brand Equity factors; Factor Analysis of Brand Equity and Non- Brand Equity factors; Correlation Analysis of Brand Equity and Non- Brand Equity factors; Regression Analysis of Brand Equity and Non- Brand Equity factors;

AVERAGE MEAN SCORE: Brand Equity factors

Mean

Non- Brand Equity factors

Mean

Customer participation

4.25

Product Display

1.38

Connection

4.31

Ease of Ordering

1.44

Customer support

4.25

Search facilities

1.42

Interaction with company personnel Individual level- search and preferences Relevant search and Information Presentation Quality

4.30

Site- speed

1.43

4.32

Transaction security

1.42

4.40

Customer data safety

1.47

4.42

Guarantees/ Return policies

1.42

Ease of use

4.38

Product variety and Quality

1.43

Site- Navigation

4.45

Better Pricing policies

1.40

Information Architecture

4.44

Promotional campaigns and schemes

1.36

Style/ Atmosphere

4.46

Timely and well arranged Information Product Availability

4.48

After Sales service

4.48

Automatic Order conformation

4.50

Timely Delivery

4.49

Emotional bond and personal commitment Trust in Brand

4.48

Total

79.41

4.52

4.48 14.17

Graph Showing- Impact Of Brand Equity Factors On Customer Intention To Buy Products Online:

Note: SD- Strongly dissatisfied, D- Dissatisfied, N- Neutral, A- Agree, SA- Strongly Agree.

Impact of Brand Equity Factors on Customer Intention to Buy Products Online: VARIABLES

SD

%

D

%

N

%

A

%

SA

%

MEAN

MODE

Customer Participation Connection

-

-

1

0.4

44

17.6

97

38.8

108

43.2

4.25

5

-

-

2

0.8

35

14.0

97

38.8

116

46.4

4.31

5

Customer Support

-

-

-

-

43

17.2

101

40.4

106

42.4

4.25

5

Interaction with Company Personnel Individual level Search and Preferences Relevant Search and Information Presentation Quality

-

-

-

-

40

16.0

94

36.6

116

46.4

4.30

5

-

-

2

0.8

38

15.2

87

34.8

123

49.2

4.32

5

-

-

2

0.8

30

12.0

85

34.0

133

53.2

4.40

5

-

-

-

-

28

11.2

89

35.6

133

53.2

4.42

5

Ease of Use

-

-

-

-

28

11.2

99

39.6

123

49.2

4.38

5

Site Navigation

-

-

2

0.8

18

7.2

95

38.0

135

54.0

4.45

5

Information Architecture Style/ Atmosphere

-

-

-

-

19

7.6

101

40.4

130

52.0

4.44

5

-

-

2

0.8

15

6.0

98

39.2

135

54.0

4.46

5

Timely Information

-

-

1

0.4

13

5.2

100

40.0

136

54.4

4.48

5

Product Availability

-

-

-

-

10

4.0

101

40.4

139

55.6

4.52

5

After sales Service

-

-

1

0.4

11

4.4

105

42.0

133

53.2

4.48

5

Automatic Order Confirmation Timely Delivery

-

-

1

0.4

11

4.4

101

40.4

137

54.8

4.50

5

-

-

-

-

12

4.8

104

41.6

134

53.6

4.49

5

Emotional Bond

-

-

1

0.4

12

4.8

102

40.8

135

54.0

4.48

5

Trust in Brand

-

-

1

0.4

15

6.0

96

38.4

138

55.2

4.48

5

TOTAL

-

-

16

0.36

422

9.38

1752

38.93

2310

51.33

Graph Showing- Impact of Non- Brand Equity Factors on Customer Intention to Buy Products Online:

Note: SD- Strongly dissatisfied, D- Dissatisfied, N- Neutral, A- Agree, SA- Strongly Agree.

Impact Of Non- Brand Equity Factors On Customer Intention To Buy Products Online: VARIABLES

SD

%

D

%

N

%

A

%

SA

%

MEAN

MODE

Product Display

164

65.6

78

31.2

8

3.2

-

-

-

-

1.38

1

Ease of Ordering

147

58.8

97

38.8

6

2.4

-

-

-

-

1.44

1

Search Facility

147

58.8

100

40.0

3

1.2

-

-

-

-

1.42

1

Site Speed

143

57.2

106

42.4

1

0.4

-

-

-

-

1.43

1

Transaction Security

149

59.6

97

38.8

4

1.6

-

-

-

-

1.42

1

Customer Data Safety

142

56.8

99

39.6

9

3.6

-

-

-

-

1.47

1

Guarantees/ Return Policies

150

60.0

94

37.6

6

2.4

-

-

-

-

1.42

1

Product Variety and Quality

150

60.0

93

37.2

7

2.8

-

-

-

-

1.43

1

Better Price Policies

157

62.8

87

34.8

6

2.4

-

-

-

-

1.40

1

Promotional Campaigns and Schemes TOTAL

162

64.8

85

34.0

3

1.2

-

-

-

-

1.36

1

1511

60.44

936

37.44

53

2.12

-

-

-

-

H3: There is no significance difference between the impacts of Brand equity and Non- Brand equity factors on customer intention to buy products online.

The Avg. mean scores of Brand equity and Non- Brand equity factors are 4.412 and 1.417, so respondents Agree that Brand equity factors have more impact on Customer intention to buy products online. Brand equity factors have more impact on customer intention to buy products online in comparison to Non- Brand equity factors. Therefore, Null hypothesis: “H3: There is no significance difference between the impacts of Brand equity and Non- Brand equity factors on customer intention to buy products online.” is not accepted.

Factor Analysis: Loading of Brand Equity Variables on Brand Equity factors (extracted): Factors

1

2

3

4

5

6

7

8

Variables Relevant Search and Information Product Availability

0.337

Automatic Order Confirmation Emotional Bond

0.573

Trust in Brand

0.495

0.312

0.528

Connection

0.637

Timely Information

0.548

Presentation Quality

0.416

After sales Service

0.555

Interaction with Company Personnel Individual level Search and Preferences Ease of Use

0.466 0.485 0.467

Site Navigation

0.499

Customer Support

0.513

Timely Delivery

0.387

Customer Participation

0.323

Style/ Atmosphere

0.434

Information Architecture

0.302

Labelling of Brand Equity factors: Brand commitment

Punctual connectivity

Care to attract

Interactive comfort

Site navigation

Supportive brand

Participating for style

Information architecture

Relevant search and information

Connection

Presentat ion quality

Interactio n with company personnel

Site navigation

Customer support

Customer participation

Information architecture

Product availability

Timely information

After sales service

Individual search and preference

Timely delivery

Style/ Atmosphere

Automatic order

Ease of use

confirmation Emotional bond and commitment Trust in brand

Loading of Non- Brand Equity Variables on Non- Brand Equity factors (extracted): Factors

1

2

3

4

5

Variables Ease of Ordering

0.552

Search Facility

0.747

Product Variety and Quality

0.514

Promotional Campaigns and Schemes

0.140

Site Speed

0.815

Product Display

0.571

Customer Data Safety

0.444

Guarantees/ Return Policies

0.815

Transaction Security

0.495

Better Price Policies

0.818

Labelling of Non- Brand Equity factors: Promotion and Support for Purchase

Site speed

Display and safety

Guarantees and return policies

Secured and economical

Ease of order

Site speed

Product display

Guarantees and return policies

Transaction security

Search facility Product variation and quality Promotional campaigns and schemes

Customer data safety

Better price policies

CONCEPTUAL FRAMEWORK: Online Brand experience

Interactivity

Customisation

Brand Equity factors

Site- Design

Customer Service

Order fulfillment

Quality of Brand Relationships

Convenience

Accessibility

Trust Non- Brand Equity factors

Product

Price

Promotion

Customer Intention to buy products online: The degree of willingness to buy

FINDINGS: The maximum no. respondent’s age varied from Below 20 and 20-49 years. Many respondents were ‘B.Tech students from VITU & other different colleges’ and ‘Professionals’, who are net savvy and prefer buying products online. This indicates that the maximum users are of young age level. The data obtained reveals that 46.45 respondents use internet for 2- 4 hrs. per day and 44.8% use for 4- 6 hrs. So, maximum no. of respondents are net savvy and use internet frequently. From the percentage analysis it is clear that 63.65 respondents Strongly Agree and 35.65 Agree that they are having Intention to purchase products online. The Average of means Score of Brand equity factors is calculated as 4.412 and the avg. of means of Non- Brand equity factors is calculated from the above table as 1.417. The Numeric values used for different represents: 1- Strongly Disagree, 2- Disagree, 3- Neutral, 4- Agree, 5- Strongly Agree. So, There is significance difference between the impacts of Brand equity and Non- Brand equity factors on customer intention to buy products online. And, Brand equity factors have more positive impact on Customer intention to buy products online. Factor Analysis result extracts: Brand Equity factors: KMO Measure of sampling adequacy has the value 0.699. So, the sample taken for the study is highly adequate. Bartlett’s test of sphericity has a value of 1208.476 and significance level .002(i.e. < 0.10), so the factors are valid and adequate for the study. Eight Brand equity factors, that are having the cumulative percentage of variance as 57.022 percent are extracted by Factor analysis. That means the eight factors extracted, together account for 57 percent of the total variance. So, we are able to economise on the number of variables. These factors are: “Brand commitment”, “Punctual connectivity”, “Care to attract”, “Interactive comfort”, “Site navigation”, “Supportive brand”, “Participating for style”, “Information architecture”. Non- Brand Equity factors: KMO Measure of sampling adequacy has the value 0.574. So, the sample taken for the study is highly adequate. Bartlett’s test of sphericity has a value of 541.884 and significance level . 106, so the factors are valid and adequate for the study.

Five Non- Brand Equity factors are having the cumulative percentage of variance as 57.746 percent. That means the five factors extracted, together account for 58 percent of the total variance. These factors are: “Promotional influence on ordering”, “Site speed”, “Display for safety”, “Guarantees and return policies”, “Secured and economical”. Correlational Analysis suggests that, There is high correlation between most of the Brand equity factors and also between NonBrand equity factors. This suggests that, Independent factors chosen are fairly good factors. Brand Equity factors are more correlated with Purchase Intension than Non- Brand equity variables and it is justified by the respondents Regression analysis results : Brand Equity factors: H1: There is no significant impact of Brand equity factors on Customer Intention to Buy Products Online. The p- level is 0.0721. This indicates that the model is statistically significant at a confidence level of (1- 0.0721)*100, or 92.79. The p- level indicates the significance of the F- value. The R2 value is 0.957. t- tests for significance of individual independent variables indicate that at the significance level of 0.10 (equivalent to a confidence level of 90%), more number of variables are statistically significant in the model and have greater impact on Purchase Intension of Respondents. They are: Customer participation- cstmprtc, Individual level search and preferences- indsnp, Relevant search and information- relsni, Presentation Qualityprsnqlty, Product availability- prdtavlb, Automatic order confirmation- atordcnf. So, Brand equity factors have greater impact on the respondent’s (customers) intention to buy products online i.e. there is significant impact of Brand Equity factors on Customer Intention to Buy Products Online. So, Null Hypothesis “H1: There is no significant impact of Brand equity factors on Customer intention to Buy Products Online” is not accepted. Therefore, there is significant impact of Brand Equity factors on Customer Intention to Buy Products Online. Non- Brand Equity factors: H2: There is no significant impact of Non- Brand equity factors on Customer intention to buy products online. The p-level to be 0.067. This indicates that the model is statistically significant at a confidence level of (1- 0.067)*100, or 93.30. The p- level indicates the significance of the Fvalue.

The R2 value is 0.069 as shown in Table: R6. That explains the lesser variance. So overall, there is much lesser (Negligible) Impact of Non- Brand Equity factors on Purchase Intension of (customers) respondents. t- tests for significance of individual independent variables indicate that, at the significance level of 0.10 (equivalent to a confidence level of 90%), very few variables are statistically significant in the model.. They are: Product display, Product variety and Quality, Non- Brand equity factors have much lesser (Negligible) impact on respondent’s (customers) Intention to buy products online i.e. there is no significant impact of Non- Brand Equity factors on Customer Intention to Buy Products Online. So, Null Hypothesis “H2: There is no significant impact of Non- Brand equity factors on Customer intention to Buy Products Online” is accepted. Therefore, there is no significant impact of Non- Brand Equity factors on Customer Intention to Buy Products Online. H3: There is no significance difference between the impacts of Brand equity and Non- Brand equity factors on customer intention to buy products online. There is significance difference between the impacts of Brand Equity & Non- Brand equity factors on Customer Intension to buy products Online. Brand Equity factors have more positive Impact on Customer intension to buy products Online. H3 is not accepted (rejected)- There is significance difference between the impacts of Brand Equity & Non- Brand equity factors on Customer Intension to buy products Online. Brand Equity factors have more positive Impact on purchase Intension. The Study findings suggest that Brand Equity factors have more significant positive impact than Non- Brand equity factors, on Customer Intention to Buy Products Online.

DISCUSSION: The Study findings suggest that Brand Equity factors have more significant positive impact than Non- Brand equity factors, on Customer Intention to Buy Products Online. There is significance difference between the impacts of Brand Equity & Non- Brand equity factors on Customer Intension to buy products Online. Brand Equity factors have more positive Impact on Customer intension to buy products Online.

LIMITATIONS OF STUDY: 1. This study is a cross sectional study. So, the results may not be valid for a longer period of time to be used by businesses for decision making. 2. The sample size is 250, which is comparatively small to analyse and generalize for the larger population regarding the customer purchase intention to buy products online.

3. The respondents were only taken from the southern west region e.g. Chennai, Bangalore and Vellore and two major cities Delhi and Mumbai. The purchase intention of the people residing in these areas may not be same as for different other regions of the country.

CONCLUSION: This paper has sought to study and analyse the “Impact of Brand Equity on Customer Intension to buy products Online”, in the light of the contemporary Indian scenario. Aaker’s (1996) guidelines on Brand Equity and George Christodoulides framework for Brand Equity factors affecting Customer purchase Intension has been followed and taken as the starting point. The challenge was to study and analyse the Impact of Brand Equity factors on Customer Intension to buy products Online. Different important factors affecting Customer Purchase Intension Online, according to Efthymios Constantinides (2004), has been considered to differentiate Brand Equity and Non- Brand equity factors. The Conceptual framework of this study has helped in studying and analysing the Impact of Brand Equity and Non- brand Equity factors on Customer intension to buy products Online. A Structured Questionnaire was used to get responses of different customers (using Internet to buy products Online). Using, ‘Average Mean Scores of Brand equity and Non- Brand equity factors’ and ‘Factor analysis’, the effectiveness of chosen factors and their Impact on Purchase Intension has been studied. It was further analysed using Multiple Regression Analysis for brand Equity and Non- brand equity factors. The study and analysis results showed that brand equity factors have more positive Impact on Customer intension to buy Products Online. In this research paper a framework has been proposed to enhance researchers and Webmarketers understanding of customer’s Intension towards shopping on the Internet. The study and its findings suggest that, Brand Equity plays an important role in impacting Customers to buy products Online. Using the research findings, Web- marketers can evaluate the website performance and enhance it by valuing and utilising Brand equity factors more effectively. This will certainly enhance the Customer perception of the Brand and strengthen their Intension to buy products Online.

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