Smash of Brand Awareness and Brand Association around Imported Cosmetics towards Female Consumers Purchasing Decisions (With Special Reference to Millennials in Sri Lanka)

International Journal of Research and Innovation in Social Science (IJRISS) | Volume VI, Issue II, February 2022 | ISSN 2454–6186

Smash of Brand Awareness and Brand Association around Imported Cosmetics towards Female Consumers Purchasing Decisions (With Special Reference to Millennials in Sri Lanka)

HMWM Herath B.G.H.M Bulathwatta
Department of Management Sciences, Faculty of Management, Uva Wellassa University of Sri Lanka

Abstract:
Personal grooming is one of the fastest growing industries anywhere in the world. There is huge competition for brands even in Sri Lanka. The purchasing decision related to imported cosmetic products was made by referring to the female segment. This study depends on the lifestyle rationale of ladies in the local market since it could provide constructive insights for crafting marketing-related decisions. At the same time, researchers have focused on studying the impact of brand awareness and brand association on female consumers’ buying decisions for imported cosmetic products. The relationships between each selected brand equity element and female consumer purchase decisions were examined by hypotheses developed. The sample size was 225 female consumers who represented the economically active millennials in Sri Lanka. Results revealed that there were significant relationships between brand awareness and brand association and female consumers’ buying decisions of imported cosmetics, and those elements had a high impact on female consumers’ buying decisions of imported cosmetic products. Furthermore, the researchers discovered that, among the selected brand equity determinants, brand awareness and brand association were the most influential elements towards purchase decision, with a correlation value.The managerial implications have been discussed, especially referring to the contexts of branding and marketing promotion, as they relate to producing knowledge contribution through this empirical study.

Key Words: Brand awareness, Brand association, consumer purchase intention.

I. INTRODUCTION

In the present context, marketers are facing questions about how they can be more efficient in selling cosmetics to consumers. by using brand equity elements as a driving tool. Because of this, it is essential for marketers to identify the extent to which brand equity influences the purchase intentions of female consumers. Because of that, it will help foreign brand marketers see their strengths and weaknesses in their use of brand equity. Also, it can improve their company’s performance accordingly. In recent years, many companies have come to believe that one of their most valuable assets is their product and service brands (Kotler, 2006). Because of the rapid changes in the global market and the increased competition among firms, brand management has become a very important area of concern for marketing managers. It is the process of improving and maintaining a particular brand and that procedure includes each part, bit, and representative of the organization to capture the genuine substance of the brand (El-Mahdawi, 2020). Aaker (1991). is of the view that establishing and managing brands should not be considered the core operating target for most industries, but should also be seen as a source of competitiveness.
Brands have a long history in commerce. Only in the twentieth century did brand association, a key component of branding and brand equity, become so powerful in controlling competition (Aaker, Managing Brand Equity: Capitalizing on the value of a brand name, 2009). A comprehensive framework by Keller (1993) outlined the sources of brand equity by way of identifying what is in the consumers’ minds through measuring brand knowledge, which comprises brand awareness and brand association. Brand awareness includes brand recognition and brand recalls, whereas brand image is the perception of a consumer’s knowledge, symbolic and experiential benefits, and brand attitudes (Rashmi, 2013). Brand equity, particularly unique brand associations, has been established using product attributes, image, packages, and advertising for consumer purchase decision making (Ballester, 2001). Due to the increasing competition, changing lifestyles and preferences in young consumers’ minds, it is more difficult to brand today than it was only a few years ago (Wood, 2000).

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