Brand awareness, word-of-mouth and willingness-to-pay (WTP) high price

Abstract

A high level of brand awareness and brand image enhances customers` favourable word-of-mouth referrals which in turn, strengthens their WTP a high price for a brand. Despite the increasing importance of brand awareness and brand image to customers` word-of-mouth referrals and their WTP a high price, there are limited studies on the mediated role of brand image in the influence of brand awareness on customers` word-of-mouth referrals and their WTP a high price, particularly in the herbal industry. Hence, this study aimed to investigate the mediated role of brand image in the impact of brand awareness on word-of-mouth referrals and WTP a high price in the herbal industry. Using a systematic sampling strategy, data were collected from 265 samples of customers in the Cape Coast herbal market. The research hypotheses were statistically tested via structural equation modelling with the help of smart PLS 3.3.3. The study establishes that the relationship between brand awareness, word-of-mouth and WTP a high price is partly attributed to the influence of brand image. Besides, the study found that word-of-mouth contributes partially to the influence of brand awareness and brand image on WTP a high price. The study confirmed that brand image is critical in developing brand awareness to strengthen customers` word-of-mouth referrals and their WTP a high price in the herbal industry.

Keywords: {'name': 'Herbal Industry, Brand Awareness, Image, Word-of-Mouth, WTP High Price '}

Authors & affiliations

Peter Kwasi Oppong
Affiliation not supplied

Joseph Owusu
Affiliation not supplied

Wilberforce Owusu Ansah
Affiliation not supplied

Deposited references

Supplied references, not a list of publications citing this article.

DOI: 10.1108/JPBM-10-2013-0414

DOI: 10.1007/BF02723327

DOI: 10.1037/0022-3514.51.6.1173

DOI: 10.15295/bmij.v9i4.1902

DOI: 10.4324/9781315757421

DOI: 10.1057/palgrave.jmm.5040078

DOI: 10.1509/jmkg.65.2.81.18255

Cohen, J. (1988). Statistical power analysis for the behavioural sciences. Mahwah, NJ: Lawrence Erlbaum.

Creswell, J. W. (2014). Research Design: Qualitative, Quantitative, and Mixed Methods Approaches, (4th ed.). California: SAGE Publications.

DOI: 10.1016/S0022-4359(00)00028-2

DOI: 10.1207/s15327663jcp0702_02

DOI: 10.1080/15378020.2021.2017212

Farquhar, P. H. (1989). Managing Brand Equity. Marketing Research, 24-33.

DOI: 10.1177/002224378101800104

DOI: 10.1108/10610420710751564

Hair, J. F. Jr., Hult, G. T. M., Ringle, C. M., & Sarstedt, M. (2017). A Primer on Partial Least Squares Structural Equation Modelling (PLS-SEM), (2nd ed.). USA: SAGE Publication.

DOI: 10.1108/EBR-10-2013-0128

DOI: 10.1177/109467050141006

DOI: 10.1007/s11747-014-0403-8

Hoyer, W. D., & Maclnnis, D. J. (2010). Consumer Behaviour, (5th ed.). USA: Cengage Learning.

DOI: 10.1108/13612021211265791

Kardes, F. R., Cronley, M. L., & Chine, T.W. (2011). Consumer Behaviour. USA: Cengage Learning.

DOI: 10.1177/002224299305700101

Keller, K. L. (2013). Strategic Brand Management: Building Measuring, and Managing Brand Equity, (4th ed.), England: Pearson Education.

DOI: 10.1177/001316447003000308

DOI: 10.1108/07363769510095270

DOI: 10.1504/IJWBC.2012.046259

Malhotra, N. K., Nunan, D., & Birks, D. F. (2017). Marketing Research: An Applied Approach, (5th ed.). United Kingdom: Pearson Education.

Miles, M. B., Huberman, A. M., & Saldaña, J. (2014). Qualitative Data Analysis: A Methods Sourcebook, (3rd ed.). USA: SAGE Publication.

Monavvarian, A., Asgari, N., & Hoseinabadi, A. R. (2015). Studying the Effects of Brand Equity Consumers` Responses in Service Markets. International Journal of Economics, Commerce and Management, III (3), 1-18.

DOI: 10.1177/002224299405800302

Mothersbaugh, D. L., & Hawkins, D. I. (2016). Consumer Behaviour: Building Marketing Strategy, (13th ed.). New York: McGraw-Hill Education.

Mulyono, H. (2016). Brand and Brand Image of Decision-Making on University. Jurnal Manajemen Dan Kewirausahaan, 18(2), 163–173.

DOI: 10.1016/S0148-2963(01)00303-4

DOI: 10.1016/j.ijhm.2016.12.006

DOI: 10.22610/imbr.v12i2(I).3035

DOI: 10.1108/IJBM-09-2016-0139

Sharma, S. K., & Nagpal, E. (2017). The Effect of Brand Love and Brand Image on Word-of-Mouth: Apparel Industry Industry in India. International Journal of Science Technology & Management, 6(02), 371-377.

DOI: 10.30845/ijbss.v10n4p9

DOI: 10.1108/03090560810852977

DOI: 10.5116/ijme.4dfb.8dfd

Utami, S., & Jannah, R. (2019). Effect of Brand Awareness, Perceptions of Quality, Uniqueness and Social Image to Price Premium in J. Co Banda Aceh. European Journal of Business Management, 11(20), 66-73.

DOI: 10.1504/IJEBR.2021.114380

DOI: 10.1016/j.sbspro.2015.11.465

WHO (2019). WHO Global Report on Traditional and Complementary Medicine 2019. Geneva (https://apps.who.int/iris/bitstream/handle/10665/312342/9789241515436eng.pdf?sequence=1&isAllowed=y: Accessed February 17, 2022)

DOI: 10.1177/2158244020919491

DOI: 10.3390/proceedings2019039027

DOI: 10.1177/0092070300282002

DOI: 10.1177/002224299606000203