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MASTER OF SCIENCE IN MANAGEMENT
School of Management
University of Asia and the Pacific
THE EFFECTS OF BRAND EQUITY ON THE PURCHASE INTENTION OF

CAR INSURANCE HOLDERS IN METRO MANILA
A Management Thesis
Submitted in Partial of the Requirements of
Management Research Seminar II – MGT512
Submitted by:
John Paul G. Cosculla
Karina Clara Claveria-Romero, PhD.

Faculty-In-Charge
July 2022
TABLE OF CONTENTS
TABLE OF CONTENTS…………………………………………………………………………i
LIST OF TABLES.................................................................................................................................................... iv
LIST OF FIGURES.................................................................................................................................................... v
FULL THESIS DEFENSE ENDORSEMENT FORM..................................................................................... vi
THESIS ACCEPTANCE FORM.......................................................................................................................... vii
EDITORIAL CERTIFICATE.............................................................................................................................. viii
ABSTRACT................................................................................................................................................................ ix
ACKNOWLEDGEMENT....................................................................................................................................... xi
CHAPTER 1: INTRODUCTION.......................................................................................................................... 1
Background of the Study.............................................................................................................................. 1
Rationale of the Study................................................................................................................................... 4
Scope and Limitations................................................................................................................................... 4
Significance of the Study.............................................................................................................................. 5
Statement of the Problem............................................................................................................................ 6
Hypotheses.......................................................................................................................................................... 9
Definition of Terms......................................................................................................................................... 9
CHAPTER 2: REVIEW OF RELATED LITERATURE..............................................................................12
Brand Awareness.......................................................................................................................................... 12
Brand Associations (Perceived Value).............................................................................................. 13
Perceived Quality.......................................................................................................................................... 13
Brand Loyalty.................................................................................................................................................. 14
Brand Attitude (BA) and Brand Image (BI).....................................................................................16
Brand Attitude (BA) and Brand Equity (BE)................................................................................... 16
Brand Attitude (BA) and Customer Satisfaction (CS)................................................................17
Brand Image (BI) and Brand Equity (BE)......................................................................................... 18
Brand Equity (BE) and Purchase Intentions (PI).........................................................................18
Social media marketing............................................................................................................................. 19
Social media platform and brand equity.......................................................................................... 20
Elements of the Keller Model.................................................................................................................. 21
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The Effects of Brand Equity on the Purchase Intention of Car Insurance Worldwide
................................................................................................................................................................................. 26
The Effects of Brand Equity on the Purchase Intention of Car Insurance in the
Philippines........................................................................................................................................................ 28
Theoretical Frameworks........................................................................................................................... 30
“Influence of social media advertising on customer’s purchase decision”...............30
“The impact of brand equity drivers on consumer-based brand equity in sports
service selling”........................................................................................................................................... 31
“Factors Influencing Consumer Purchasing Decision of Used Car Insurance in
Bangkok”....................................................................................................................................................... 33
Exploring the impact of marketing mix on brand equity in the insurance industry
............................................................................................................................................................................ 34
(ASIA INSURANCE FIRM, IRAN)......................................................................................................... 34
“Factors Affecting Consumer’s Purchase Intention toward Japanese Cars in
Bangkok.”...................................................................................................................................................... 36
Conceptual Framework.............................................................................................................................. 38
CHAPTER 3............................................................................................................................................................. 41
RESEARCH DESIGN AND METHODOLOGY......................................................................................... 41
Research Design............................................................................................................................................. 41
Population and Sample.............................................................................................................................. 41
Research Instrument................................................................................................................................... 42
Validity................................................................................................................................................................ 43
Reliability.......................................................................................................................................................... 43
Data Gathering Procedures...................................................................................................................... 44
Statistical treatment.................................................................................................................................... 44
Ethical Considerations................................................................................................................................ 45
CHAPTER 4............................................................................................................................................................. 47
PRESENTATION, ANALYSIS, AND INTERPRETATION OF DATA.............................................47
RO1: To determine the demographic profile of the respondents.................................................48
1.1 Age...................................................................................................................................................... 48
1.2 Sex........................................................................................................................................................ 49
1.3 Highest Educational Attainment.............................................................................................. 50
1.4 Monthly Household Income........................................................................................................ 50
1.5 Car Insurance Brand Ownership.............................................................................................. 51
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RO2: To determine the level of brand equity of the respondents................................................52
2.1 Brand Awareness.................................................................................................................................. 54
2.2 Brand Association................................................................................................................................. 56
2.3 Perceived Quality................................................................................................................................. 59
2.4 Brand Loyalty......................................................................................................................................... 63
RO3: To determine the level of purchase intention of the respondents....................................66
RO4: To determine the effect of brand awareness on the purchase intention of the
respondents....................................................................................................................................................... 67
RO5: To determine the effect of brand association on the purchase intention of the
respondents....................................................................................................................................................... 70
RO6: To determine the effect of perceived quality on the purchase intention of the
respondents....................................................................................................................................................... 73
RO7: To determine the effect of brand loyalty on the purchase intention of the
respondents....................................................................................................................................................... 75
RO8: To determine the effect of brand equity on the purchase intention of the
respondents....................................................................................................................................................... 78
RO9: To determine the effect of brand equity on the purchase intention of the
respondents as moderated by their demographic profile...............................................................82
CHAPTER 5............................................................................................................................................................. 85
SUMMARY, CONCLUSIONS, AND RECOMMENDATIONS..............................................................85
Summary of Findings................................................................................................................................... 85
Conclusions....................................................................................................................................................... 87
Recommendations........................................................................................................................................ 95
Strategic Recommendations............................................................................................................... 97
REFERENCES....................................................................................................................................................... 103
Questionnaire.................................................................................................................................................... 120
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LIST OF TABLES
LIST OF TABLES
Statement of the Problem and Research Objectives……………………………………………………….7
Reliability………………………………………………………………………………………………….44
Verbal Interpretation of Mean……………………………………………………………………………..46
Table 1.1 Age of the
Respondents…………………………………………………………………………………………….....49
Table 1.2. Sex of the Respondents………………………………………………………………………...50
Table 1.3. Highest Educational Attainment of the Respondents……………………….…………………51
Table 1.4. Monthly Household Income of the Respondents………………………………………………51
Table 1.5. Car Brand Ownership of the Respondents……………………………………………………..52
Table 2 Level of Brand Equity of the Respondents……………...………………………………………..53
Table 2.1. Level of brand awareness of the Respondents...……………………………………………….55
Table 2.2 Level of Brand Association of the Respondents………………………………………………..57
Table 2.2.1 Level of the Perceived Value of the Respondents...………………………………………….58
Table 2.2.2 Level of Brand Personality of the Respondents………………………………………………59
Table 2.3. Level of Perceived Quality of the Respondents………………………………………………..61
Table 2.3.2 Level of Leadership of the Brand…………………………………………………………….63
Table 2.4 Level of Brand Loyalty of the Respondents……………………………………………………64
Table 2.4 Level of Price Premium of the Respondents……………………………………………………65
Table 2.4.1 Level of Satisfaction of the Respondents……………………………………………………..66
Table 3 Level of purchase intention of the respondents………………………………………………..…67
Model Summary (Effect of Brand Awareness on the Purchase Intention)...……………………………...68
ANOVA (Effect of Brand Awareness on the Purchase Intention)...……………………………………...69
Coefficients (Effect of Brand Awareness on the Purchase Intention)...……………………………..........70
Model Summary (Effect of Brand Association on the Purchase Intention)...…………………………….71
ANOVA (Effect of Brand Association on the Purchase Intention)...……………………………………..72
Coefficients (Effect of Brand Association on the Purchase Intention)...…………………………….........72
Model Summary (Effect of Perceived Quality on the Purchase Intention)...………………………..........74
ANOVA (Effect of Perceived Quality on the Purchase Intention)...……………………………………...75
Coefficients (Effect of Perceived Quality on the Purchase Intention)...……………………………..........76
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LIST OF FIGURES
LIST OF FIGURES
Figure 1. Influence of social media advertising on customer’s purchase decision………………………..31
Figure 2. Impact of Brand Equity Drivers on Consumer-based Brand Equity in Sport Service Selling….33
Figure 3. Factors Influencing Consumers Purchasing Decision of Used Car Insurance in Bangkok”……35
Figure 4. impact of marketing mix on brand equity in the insurance industry……………………………36
Figure 5. Factors Affecting Consumer’s Purchase Intention toward Japanese Cars in Bangkok…………38
Figure 6. Conceptual framework………………………………………………………………………….39
Slovin’s Computation……………………………………………………………………………………..43
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FULL THESIS DEFENSE ENDORSEMENT
FORM
Date: July 28, 2022
To: DR. ANNA MARIA E. MENDOZA

Dean, School of Management
From: PATRICK SAMSON ZETA

Thesis Adviser
This is to certify that John Paul Cosculla, a candidate for the degree of Master of
Science in Management, has satisfactorily completed his/her full thesis entitled “The
Effects of Brand Equity on the Purchase Intention of Car insurance Holders in
Metro Manila” under my supervision and is now ready to defend it.
I, therefore, endorse the abovementioned student so he/she may undertake his/her full
thesis written and oral defense as may be scheduled by the Program.
______________________________
PATRICK SAMSON ZETA
Thesis Adviser
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THESIS ACCEPTANCE FORM
This Thesis entitled “The Effects of Brand Equity on the Purchase Intention
of Car insurance Holders in Metro Manila”, prepared and submitted by John Paul
Cosculla in partial fulfillment of the requirements for the degree of Master of Science in
Management is hereby accepted.
Ms. Lota Kristine San Juan - Nable

Program Director
This Thesis is hereby accepted in partial fulfillment of the requirements for the
degree of Master of Science in Management.
Dr. Maria Steffi Manhit

Oral Defense Chair
Dr. Anna Maria E. Mendoza

Dean
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EDITORIAL CERTIFICATE
This document certifies that the thesis paper listed below was edited for English
language, grammar, punctuation, spelling, and overall style by MA. ALLIAH MAE T.
VELASCO, Educational Specialist, Proofreader, and Academic Researcher at
WritingCreek, Acad Service Pro, The Writeler Co.
THESIS TITLE:
THE EFFECTS OF BRAND EQUITY ON THE PURCHASE INTENTION OF

CAR INSURANCE HOLDERS IN METRO MANILA
AUTHOR:
JOHN PAUL COSCULLA
DATE ISSUED:
August 1, 2021
As such, with the issuance of this certification, the editor waives any right to publish or
reproduce this thesis paper without the consent of the author.
MA. ALLIAH MAE T. VELASCO
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Editor
ABSTRACT
To thrive in today's competitive business environment, insurance firms must have
successful strategies for attracting and keeping brand-loyal clients to grow their
economies and other businesses. Hence, the research aims to determine which elements
of brand assets affect consumers' intention to purchase, helping insurance companies
build brands and create brand values that get customers’ loyalty and increase the sense of
buying the insurance company’s services. The researcher asked four hundred eighty (480)
car owners using a questionnaire and an interview guide as part of a mixed-methods
study. The researcher used Cronbach's Alpha technique to analyze the data statistically.
Based on the results gathered, brand equity (brand awareness, brand association,
perceived quality, and brand loyalty) affects the purchase intention of car insurance
customers. The moderating variable implies that the higher the educational attainment,
the more it has a negative effect on purchase intention. In hypothesis testing, the
researcher agrees that respondents are affected positively by brand awareness, perceived
quality, brand loyalty, and brand equity.
In contrast, the researcher rejects the notion that brand association and brand
equity modified by demographics affect purchase intention negatively. The equity
develops trust between the parties, which may help with negotiations and pricing. So,
companies should build brand awareness (BA) through advertising, direct sales,
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promotions, public relations activities (PR), sales promotion, a medium- and long-term
product strategy to provide qualified services, and a need to emphasize the specificity,
advantages of design, quality, technological benefits, fuel efficiency, etc., to increase the
consumer's brand associations and perceived quality factors.
Keywords: brand equity, purchase intention, car insurance holders, brand association,
brand awareness, perceived quality, brand loyalty
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ACKNOWLEDGEMENT
I appreciate Mr. Patrick Samson Zeta's helpful comments during study planning
and development. I appreciate his generosity and encouragement.
I would also like to thank Dr. Karina Clara Claveria – Romero for her guidance and
help to keep my development on track.
I would also like to extend my gratitude to Mirabel Marcelo from the School of
Science Management for her assistance in providing me with the necessary resources to
conduct my research.
I wish to thank my parents, Reynaldo Cosculla & Vangie Cosculla, for their support
and encouragement throughout my study.
Further, I would like to thank and appreciate the existence of my Lola Rita, for she
provided emotional support while making the study.
Finally, I thank God for letting me through all difficulties and infirmities. I have
experienced your guidance day by day. You are the one who let me finish my degree. I
will keep trusting you for my future.
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The Effects of Brand Equity on the Purchase Intension of Car Insurance Holders in
Metro Manila
CHAPTER 1: INTRODUCTION
Background of the Study
Insurance firms play an essential role in an economy’s growth and development
and are vital financial institutions for other companies' success. By agreeing to pay for
the financial liability of insured parties, these companies give people and businesses
peace of mind.
To succeed in the competitive business world, organizations need efficient tools
for attracting, retaining, and increasing consumers with substantial brand equity to carry
out their goals. The concept of brand equity was created about 20 years ago as a
fundamental concept in marketing. Brand equity refers to the part of the product
concerned with the brand. Brand equity is the intangible and essential properties of the
company that its customers acquire through its customers’ attitudes and behavior.
Since the inception of the brand equity (BE) concept, many researchers have extensively
used it in different domains (Keller, Aperia, & Georgeson, 2008). Chow, Ling, Yen, and
Hwang (2017) suggest that BE is a practical framework for understanding the possible
consequences of multiple brand strategies. BE has a customer and firm-based perspective
(Datta, Ailawadi, and Van-Heerde, 2017). The customer perspective focuses on the
“consumer mindset," which includes structures such as attitude, awareness, associations,
attachments, and loyalties (Keller & Lehmann, 2003). Simultaneously, the firm-based
perspective stresses “employing product-market outcomes such as price premium, market
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share, relative price, and financial-market outcomes such as brand purchase price and
subsidized cash flow of licenses and royalties” (Liu et al., 2017).
Given the prevailing competitive environment, firms and companies spend
considerable resources on BI and BE. They understand that a firm's BI is necessary for
sustainable growth, product differentiation, and competitive advantage (Sinclair & Keller,
2017). Many researchers suggest there is a need for more studies on BE in developing
countries, especially in the domains of insurance (Hosseini & Moezzi, 2015; Theurer et
al., 2018). Similarly, others recommend more studies on the customer-based BE model in
different domains and societies (Chatzipanagiotou et al., 2019; Machado et al., 2019;
Algharabat et al., 2020).
Insurance firms play an essential role in an economy’s growth and development.
Insurance has two purposes (Waseem-Ul-Hameed et al., 2017). First, insurance functions
as an economic instrument critical to other companies' success. Insurance gives stability
to individuals and businesses by agreeing to bear the financial liability of the insured
parties. Second, insurance accumulates assets in the economy, community, and privately
held sectors as an economic entity. Khan et al. (2018) suggest that insurance educates and
inspires people to save for the future. Wang et al. (2020) suggest that insurance, apart
from its traditional role, can significantly contribute to the fight against
underdevelopment, insecurity, illness, illiteracy, unemployment, negative trade balances,
and other economic features prevalent in underdeveloped countries. Similarly, Hussein
(2019) also suggests that the insurance industry plays a vital role in economic and social
development.
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Pakistan is reshaping its economy to meet the demands of the global marketplace.
The government has implemented several reforms to promote and consolidate Pakistan’s
status as an emerging regional market. Due to the reforms, the financial industry has been
deregulated and liberalized (Takaful, 2019). Consumers’ perception of insurance
products in Pakistan is low. Therefore, the insurance sector’s contribution to GDP is
0.9%. However, other regional countries’ insurance sectors’ contribution to GDP is 2.2%.
At the same time, the global average is 6.6%. The primary reasons for the low insurance
ratio in Pakistan are the poor service and bottlenecks in the claim process (Pasha et al.,
2017). The insurance sector in Pakistan offers two types of insurance, i.e., life and
general insurance. Life insurance focuses on both life and health. On the other hand,
general insurance primarily covers motor vehicles, homes, travel, and phones (Ahmed et
al., 2019).
Such studies may provide further insight into the association between customer-
based brand equity and purchase intentions. It will respond to earlier studies' calls and
examine Metro Manila car insurance companies' consumers' attitudes and behavior
toward their services. It specifically identifies the impact of brand equity on consumer
purchase intentions.
It will investigate which brand assets affect consumers' intention to purchase,
enabling insurance firms to construct brands and create brand values that gain customers'
loyalty and boost their intention to purchase insurance services.
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Rationale of the Study

The vehicle insurance industry is becoming more competitive, and many business
strategy innovations are taking the market. A company must have a strong brand that will
help them easily distinguish themselves in the market. Hence, an organization must be
aware of its consumers' current needs and future expectations to formulate a strategy to
cope with their fast-changing competitive industry. Brand equity is a marketing effect
that dramatically affects an organization's market value toward its target consumers. The
study aims to help a car insurance company to know how their consumers choose a motor
insurance company based on their conception of the company.
Brand equity has been a concept for insurance businesses in the Philippines, but
there has been little research on the subject. As a result, the research aims to gain a
deeper understanding of vehicle insurance firms' current brand equity strategies and their
help needs. As a result, the study emphasizes the need to assist insurance companies.
Both the public and private sectors can do a lot to get insurance companies to do it so
they can improve their brand equity.
Scope and Limitations

The research proposal examines brand equity's effect on the purchase intention of
car insurance customers in Metro Manila. The result of the study applies only to the
respondents who tend to repurchase car insurance. The researcher thought about doing
the study to find out how brand equity affected people's plans to buy car insurance in
Metro Manila and to give people useful information about the practice.
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The proposed study aims to identify: (1) the demographic profile of the
respondents in terms of age, sex, highest educational attainment, monthly personal
income, and car insurance brand ownership; (2) the level of brand awareness of the
respondents; (3) the level of brand association of the respondents in terms of perceived
value and brand personality; (4) the level of perceived quality of the respondents in terms
of product quality and its leadership; (5) the level of brand loyalty of the respondents in
terms of price premium and satisfaction; and (6) providing managerial recommendations.
Significance of the Study

It aims to determine how thriving car insurance companies' brand equity in Metro
Manila is and to speculate how brand equity may significantly affect consumers' purchase
intentions for a car insurance company.
Car Insurance Companies. The study will help car insurance companies to
become more customer-oriented by providing individually adjusted services according to
the customer's specific needs. Companies can improve their ability to meet customers'
changing needs by being more honest, building relationships based on trust, giving more
accurate information, and making sure everyone in the company has a customer-focused
mindset.
Line Managers/Supervisor, Leaders, and Company Stakeholders. The study
will give them the market research to take advantage of the current market situation by
formulating the right strategy based on the study's findings.
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Marketers. The study will benefit them in a way that may elaborate on the
relationship between the brand's awareness and the consumer's intention of availing of
services or buying that brand. It will help them to understand how knowing a brand well
will affect the consumer in making a decision about purchasing a product.
My Current Company. The study will help the company I work for determine
the status of the car insurance company on how the demographic profile affects the
purchase intention of car insurance; with it, they can develop proper marketing tools and
strategies.
Statement of the Problem

The goal of the study is to answer the question, "What is the effect of brand equity
on the purchase intention of car insurance customers in Metro Manila, as affected by the
demographic profile of the respondents?"
To achieve the purpose of the study, it will seek to answer the following
questions:
RESEARCH OBJECTIVES RESEARCH QUESTIONS
1. To determine the demographic profile of the 1. What is the demographic profile of
respondents in terms of age, sex, highest the respondents in terms of:
educational attainment, monthly household 1.1 age,
income, and car insurance brand ownership. 1.2 sex,
1.3 highest educational attainment,
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1.4 monthly household income,
1.5 car insurance brand ownership.
2. To determine the level of brand equity of the 2. What is the level of brand equity of
respondents in terms of: the respondents in terms of:
2.1 brand awareness, 2.1 brand awareness,
2.2 brand association 2.2 brand association
2.2.1 perceived value 2.2.1 perceived value
2.2.2 brand personality 2.2.2 brand personality
2.3 perceived value 2.3 perceived value
2.3.1 product quality 2.3.1 product quality
2.3.2 leadership 2.3.2 leadership
2.4 brand loyalty 2.4 brand loyalty
2.4.1 price premium 2.4.1 price premium
2.4.2 satisfaction 2.4.2 satisfaction
3. To determine the level of purchase intention 3. What is the level of purchase
of the respondents intention of the respondents?
4. To determine the effect of brand awareness 4. What is the effect of brand
on the purchase intention of the respondents awareness on the respondents'
purchase intention?
5. To determine the effect of brand association 5. What is the effect of brand
on the purchase intention of the respondents association on the purchase intention
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of the respondents?
6. To determine the effect of perceived quality 6. What effect of perceived quality on
on the purchase intention of the respondents the purchase intention of the
respondents?
7. To determine the effect of brand loyalty on 7. What is the effect of brand loyalty
the purchase intention of the respondents on the purchase intention of the
respondents?
8. To determine the effect of brand equity on 8. What does brand equity affect the
the purchase intention of the respondents respondents' purchase intention?
9. To determine the effect of brand equity on 9. What is the effect of brand equity
the purchase intention of the respondents as on the purchase intention of the
moderated by their demographic profile respondents as moderated by their
demographic profile?
10. To provide managerial recommendations 10. What managerial
based on the findings of the study recommendations can the researcher
provide based on the study?
Hypotheses
H1: Brand Awareness has a positive effect on the purchase intention of the
respondents
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H2: Brand Association has a positive impact on the purchase intention of the
respondents
H3: Perceived Quality has a positive effect on the purchase intention of the
respondents
H4: Brand Loyalty has a positive impact on the purchase intention of the
respondents
H5: Brand Equity has a positive effect on the purchase intention of the
respondents
H6: Brand Equity has a positive impact on the purchase intention of the
respondents as moderated by their demographic profile
Definition of Terms
The following terms were defined to ensure understanding of the study:
Awareness. It refers to the state of being well-informed on a specific product and
service.
Brand Awareness. It refers to the extent to which consumers are familiar with
the distinctive qualities or image of a particular brand of goods or services.
Brand Associations. It pertains to particular thoughts and impressions that a
consumer has a brand; marketers usually attempt to create mental associations that are
favorable and strong and that differentiate it from competing brands.
Brand Equity. It refers to a value of premium that a firm generates from a
product and services with a recognizable name compared to a generic equivalent.
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Brand Loyalty. It connotes that a consistent brand is a strong brand. When your
brand delivers the same experience with every interaction, meaning the same tone of
voice, color palette, logo, and imagery, and the same user experience, people trust you.
Brand Personality. It refers to the personification of human traits and personality
on the company’s brand, which the consumer can associate with their character.
Car Insurance. It pertains to a contract between an individual and an insurance
company wherein the individual agrees to pay a certain amount in exchange for security
against monetary losses from accidents and vehicle damage.
Consumer. It pertains to a person who purchases goods and services for personal
use.
Customer Loyalty. It pertains to an ongoing emotional relationship between you
and your customer, manifesting by how willing a customer is to engage with and
repeatedly purchase from you versus your competitors.
E-WOM. Consumers regularly read online reviews before buying things—
electronic word-of-mouth (eWOM). Marketers can boost eWOM to influence consumer
decision-making.
Insurance. It refers to a practice or arrangement by which a company or
government agency provides a guarantee of compensation for specified loss, damage,
illness, or death in return for a premium payment.
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Leadership. It refers to the ability of a product or a company to be superior in its
field.
Perceived Quality. It refers to the quality that customers recognize via a car's
look, touch, and feel.
Perceived Value. It refers to an individual's very own perception of a product or
service.
Product quality. It refers to how the product meets the industry standard and
satisfies its clients.
Price premium. It refers to the ability of an individual to pay more for a specific
product and service compared to its benchmark price.
Purchase Intention. It refers to the probability that a consumer will buy a
product or service.
Satisfaction. It refers to the state where the customer meets its expectations.
When the customer is satisfied with the product and service, they bought.
CHAPTER 2: REVIEW OF RELATED

LITERATURE
Brand Awareness
According to Keller (1993), brand awareness is an essential component of Brand
equity. The ability of consumers to distinguish brands in different situations is called
brand awareness (Keller, 2013, p.73); in other words, brand awareness is whether
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consumers recognize the brand or not. Rossiter and Percy (1987) described brand
awareness as a critical deliberation. It may be thought of as a buyer identifies a brand
within a category in sufficient detail to make a purchase. It is important to remember that
adequate detail does not always require placing the brand name. Brand awareness may
proceed through brand recognition, and the consumers recognize the brand at the point of
purchase. One of the crucial things to maintain brand awareness is advertising because a
brand must be introduced to customers and therefore recognized (Macdonald & Sharp,
1997). According to Keller (2013), it is imperative that the marketer researches and
identifies the stage at which the consumer(s) make the purchase decision. It is so because
the role played by brand recognition is more crucial in cases where the decision to buy at
a location where the brand name and logo are displayed, for example, a car dealership.
Therefore, in its study, we identify that brand awareness relates to consumer perceptions.
Consumers have knowledge or awareness about the products. Its perception gains
through consumer perception, recognition, or outside information. Companies should
incorporate tools such as advertising, direct sales, promotions, and public relations to
spread knowledge and boost sales. Therefore, if consumers have a good attitude towards
a particular car brand, they first recognize its presence in the market and distinguish it
from competing brands. It helps them become more and more connected with the car
brand and affects their intention to buy.
Brand Associations (Perceived Value)

Aaker and McLoughlin (2010) explained that brand associations are linked to the
brand in the consumers’ minds as a brand association. Brand associations are significant
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in that they enable consumers to process and retrieve brand-related information and the
creation of attitudes (Aaker, 1991; Yoo, Donthu, & Lee, 2000). They also critically
understand diverse consumer-related aspects (Christodoulides et al., 2009). Brand
associations are said to be essential for consumer intentions, for consumer loyalty to the
brand, and for creating value for the business. Consumers feel comfortable when they
feel that brands fit their self-awareness (Gurhan & Canli, 2007). Brand associations will
help make the value of companies and customers and increase brand value by assisting
customers in distinguishing different brands, creating positive feelings and attitudes in the
memory of consumers, and providing reasons for consumers to buy them (Tong &
Hawley, 2009). Thus, the brand association is a component of brand equity and impacts
brand loyalty (Bang, 2016) and consumer buying intentions (Nghi et al., 2014).
Perceived Quality
The consumer's subjective assessment of a product is the basis for determining its
perceived quality. (Zeithaml, 1988; Dodds et al., 1991; Aaker, 1991). Aaker (1991)
argued that perceived quality could show the striking difference between a product or
service and become a particular brand in the minds of consumers. The perceived quality
is a sign of achieving a distinctive brand position. For several consumers, it is the basis
for their purchasing decisions (Aaker & McLoughlin, 2010). Product quality dimensions
include performance; conformance to specifications; features; customer support; process
quality and aesthetic design, etc. (Aaker & McLoughlin, 2010; Yoo et al., 2000).
According to Atilgan et al. (2009), perceived quality forms the basis for differentiation
and expansion and is an essential element of brand asset building. The quality of
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sentiment directly affects the intention to purchase and loyalty to the brand (Bang, 2016),
especially in the case of consumers who are not motivated or unable to conduct a detailed
analysis first (Aaker, 1991; Bick, 2011; Buil et al., 2013). Therefore, it plays an essential
role in consumer awareness of the value of car brands. In particular, the perceived quality
affects the intention of buying consumer cars (Thanomsub, 2013).
Brand Loyalty
Tong and Hawley (2009) stated that consumers’ intention to purchase could vary
by situation and across cultures. Tho and Trang (2011) said that brand assets for
consumer products in the Vietnam market include 03 components (i) Perceptual quality,
(ii) Brand awareness, and (iii) Passion for the brand. As an emotion, "passion" can be
described as "enthusiast" and "preferences and trends" in terms of consumer behavior.
Consumption trends may be affected by social consumption trends. For the car market in
Vietnam, the choice of car brands, aside from the advantages of luxury, style, features,
durability, low fuel consumption, etc., of cars, consumers in Vietnam are also affected by
social consumption trends. According to the Vietnam Automobile Manufacturers'
Association (VAMA, 2017), when Vietnamese consumers buy a car, they often choose a
safe car option according to “crowd loyalty.” It is explained to make it easier for them to
resell but less devaluate when converting cars (VAMA, 2017). Vietnamese people often
prefer familiar car brands available in many Vietnamese markets, such as Toyota, Honda,
Ford, etc.
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Furthermore, ordinary Western consumers attach much importance to equipment
and safety technology criteria besides the designs. Meanwhile, many Vietnamese
consumers pay much attention to factors such as the color of vehicles, forms of cars, etc.
(VAMA, 2017). Vietnamese people prefer cars with reddish brown, black, silver white
colors to yellow, purple, or blue. They are willing to spend more money on accessories
that do not bring much efficiency to use, such as plastic bumpers, gas tank covers,
headlight trim, and exhaust pipes. To "beautify” the car, they ignore facilities such as
seats, air conditioning systems, or even safety systems such as ABS anti-lock brakes,
electronic balance systems, and vehicle airbags (VAMA, 2017).
All factors related to “crowd loyalty,” such as consumer trends, colors, forms,
etc., of cars for Vietnamese consumers can be considered an element of brand equity. The
factors relate to other proprietary assets in the model of Aaker (1991) or the “Social
image” of Lassar, Mittal, and Sharma (1995). Experts named it "Brand loyalty" and
considered it a new factor in the case of research in Vietnam to buy cars. Consumer
behaviors relating to brand preferences and purposes impact the buyers' intentions
(Aaker, 1991; 1996). In addition, factors such as crowd loyalty, colors, forms, and usage
habits also affect customer loyalty (VAMA, 2017).
Brand Attitude (BA) and Brand Image (BI)

Consumers develop an attitude towards a brand as they have limited cognitive
processing capability. Zhang et al. (2020) suggest that consumers’ attitude toward a brand
enhances its image (Kim et al., 2021). An attitude represents an effect on an object. The
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BE model examines the impact of perspectives on market share. The study found that
“the market share of two-thirds of surveyed brands increased” due to consumers’ positive
attitude (Baldinger & Rubinson, 1996).
Brand strength refers to the characteristics of a brand, due to which consumers
develop a positive attitude towards it, leading to enhanced BI and loyalty. BA comprises
three components which are cognitive, affective, and conative. All three individually and
collectively affect BI (Byun, 2020). Lin et al. (2021) and others suggest that BA is a
predefined aspect of brand evaluation. Its predefined evaluation enhances BI and
customer loyalty (Zhang et al., 2020). Marketers use brand association as a tool for
product differentiation and stimulating positive feelings towards a brand. Favorable
attitudes towards a brand motivate consumers to develop loyalty and sustainable
relationships. Extant literature has documented that attitude toward a brand directly
correlates with their behavioral intentions (Yodpram & Intalar, 2020; Liu et al., 2020).
Brand Attitude (BA) and Brand Equity (BE)

Saraji and MonshiZadeh (2018) have referred to BA as “a relatively long-lasting,
one-dimensional overview appraisal of a brand that presumably energizes behavior.”
Customers with a positive BA are more inclined to pay higher prices (Agmeka et al.,
2019; Paul & Bhakar, 2018; Aaker, 1992). Many researchers suggest that BA is a
precursor to a firm’s BE and sustainable growth (Ramesh et al., 2019; Sadrabadi, Saraji,
& MonshiZadeh, 2018). BA reflects a brand’s likeability and how favorably a consumer
perceives it (Kim, Jang, & Kim, 2021). Agmeka et al. (2019) argue that consumers’
behavior towards a brand depends on their attitude. If they have a positive attitude
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towards a brand, their attitude towards BE would also be positive. On the other hand, a
negative attitude towards a brand would adversely affect BE. Extant literature also
supports the correlation between BA and BE (Arghashi et al., 2021; Sadrabadi et al.,
2018). Hedonic behaviors (e.g., enthusiasm, delight, and enjoyment) are essential for
promoting BE and purchase intentions (Liao et al., 2017; Sadrabadi et al., 2018). Many
brands use emotional appeal in their advertising strategies because of the importance of
emotions.
Brand Attitude (BA) and Customer Satisfaction (CS)

BA and CS are distinct constructs. However, both of them have a causal
relationship. BA enhances CS, and CS positively impacts BA (Oliver, 1980; Lee, Han,
Radic & Tariq, 2020; Rivera, Bigne, & Curras-Perez, 2019). Hwang and Mattila (2019)
suggest that CS is both consumption-specific and transitory. On the other hand, BA is
relatively enduring. Consumers with a strong BA may ignore random bad experiences
and hence may not complain. Oliver (1980) found that satisfaction significantly depends
on consumers’ knowledge and may influence consumers’ post-purchase attitudes.
However, attitude towards a brand or product is not dependent on experience.
Advertisements, BI, and corporate image are precursors of perspective (Byun, 2020;
Augusto & Torres, 2018). Past studies have documented that BA, directly and indirectly,
affects customer satisfaction. For example, researchers have found that BI and corporate
image mediate CS (Ko, & Chiu, 2008, Karami & Arghashi, 2018; Evardsson &
Gustavsson, 2013).
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Brand Image (BI) and Brand Equity (BE)

Many researchers believe BI is an integral part of BE, while others think BI and
BE are distinct constructs, but the former is a precursor of the latter (Keller &
Brexendorf, 2019). Liu (2020) stresses that high equity brands appear to have a more
favorable brand association (BI) than low equity brands. Marques et al. (2020) also
reports that premium rates and higher BE points to higher product quality and image.
Similarly, Surucu et al. (2019) observed that “positive BI'' affects BE “positively,” while
negative BI affects BE “negatively.” Consumers’ evaluation and decision-making process
to buy a brand significantly depend on BI. Thus, a brand with a strong image and equity
reduces consumers’ search in the purchasing process (Tran et al., 2020; Erkan et al.,
2019; Han, 2017). Brand association depends on marketing mix strategies. At the same
time, brand association is a significant determinant of BI and BE (Keller & Brexendorf,
2019). Thus, one can infer that marketing mix strategies (i.e., product, price, promotion,
and place) mediate brand association and BE. Strong and favorable BE also allows
marketers to differentiate their brands from competitors leading to increased market share
and sustainable growth (Iglesias et al., 2019; Alam & Khan, 2019).
Brand Equity (BE) and Purchase Intentions (PI)

Be refers to the premium value it generates for its brands. A firm can create BE
by delivering valuable, memorable, and recognizable propositions for its target audience
(Sanny et al., 2020). Premium brands command consumers’ PI and promote sustainable
relationships with customers. Sawaftah et al. (2020) suggest that consumers do not
hesitate to pay a premium price for brands with high equity. On the contrary, consumers
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do not pay premium prices for low BE (Kim & Park, 2013). PI depends on attitude
towards products and services. At the same time, BA affects PI and BE (Kim, Chun, &
Ko, 2017; Kala & Chaube, 2018). Consumers are risk avoiders, generally. While buying
products and services, they spend considerable time reducing the risks associated with
their purchases. Thus, a few customers collect information from the internet and other
sources (Agmeka et al., 2019).
In comparison, others make their purchase decisions based on the experience of
their friends, peers, and families (Hien et al., 2020). In addition, many researchers
suggest that consumers perceive purchasing brands with substantial equity would reduce
the risk associated with buying. Therefore, they are more inclined toward brands with
strong BE than brands with weak BE (Hermanda et al., 2019).
Social media marketing

The marketing importance of social networking for businesses resides precisely in
the engagement between customers and the community and indirect, engaging, and low-
cost connectivity for creativity and information purposes (Kaplan et al., 2012). Social
networking increases the strength of online networks in different forms (Miller et al.,
2009). Next, social media stimulates deep connections between users that are richer than
they were in the past. Second, a particular event such as a market promotion or contract
will rapidly mobilize the online population. In addition, the information produced by
members aggregates inside social media into records or web pages regularly modified
and corrected by other members by deepening the distribution of news and knowledge
regarding business items or brands.
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The digital transition has affected luxury in multiple respects (Husain et al., 2020;
Kapferer, 2014). Several kinds of research demonstrated a clear connection between
subjective norms and perceived behavioral control with luxury goals. Personal standards
define the interaction between attitude and buying purposes (Jain, 2020). Companies may
track and appreciate how social networking differs by studying each block, thereby
creating a successful social media policy by optimizing the return of their social presence
(Kumar & Mirchandani, 2012). Social networking management is advantageous for
managing emotional results since online consumers may show empathy for a brand even
while they are unwilling to acquire a firm's product (Clark & Melancon, 2013).
Social media platform and brand equity

The two chief motivations of consumers purchasing luxury brands are:
representing a status of success and accomplishment and hedonistic behavior (De Rosa et
al., 2019). The prospect of luxury brands depends on the two mainstays. Its aspect may
vary among countries and change from time to time (Kapferer & Bastien, 2017). A brand
can impact consumers’ attitudes and perceptions in many ways, such as brand awareness
and brand association.
Digital mass communication helps to spread information to the length and breadth
of the globe in a much more comprehensive way (Kotler and Keller, 2009; Tuten &
Perotti, 2019). The researchers can conclude that social media is one of the apt platforms
for brands to create brand equity and establish positive intent among luxury consumers.
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Social media marketing campaigns boost brand equity (Bruhn et al., 2012; Kim et
al., 2018). They might infer that they play an essential role in the contemporary era
promotional mix. Several studies have explored that both online and offline have a
positive effect on creating brand equity. A recent study showed a significant impact of
social media in producing brand equity with a positive impact (Yadav & Rahman, 2018).
Researchers have established a positive association between promotion and brand
equity in the milieu of marketing expenses (Yoo & Lee, 2012; Villarejo-Ramos &
Sanchez-Franco, 2005). It is a general notion that consumers recognize highly publicized
brands as higher quality brands (Bravo et al., 2007). The promotion also produces strong
and exclusive brand relations (Cobb-Walgren et al., 1995). Therefore, SMMEs have a
significant impact on Brand equity.
Elements of the Keller Model

Keller (1993) defines brand equity as when a brand is known and has strong,
favorable, and unique associations in a consumer’s memory. The CBBE model identifies
four steps for building a solid brand. Each step in the branding ladder depends on
successfully achieving the previous - from brand identity to brand meaning, brand
responses, and finally, brand relationships. These steps consist of six brand building
blocks - salience, performance, imagery, judgments, feelings, and resonance. The
ultimate aim is to reach the pinnacle of the CBBE pyramid - resonance - where an utterly
harmonious relationship exists between customers and the brand.
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Keller’s argument is as follows (Keller, 2003). The first step in building a solid
brand is to ensure the correct brand identity. Customers should associate the brand with a
specific product class or need—brand salience must exist, representing aspects of brand
awareness and the range of purchase and consumption situations in which the brand
comes to mind. Therefore, the salience building block comprises two sub-dimensions -
need satisfaction and category identification.
Direct contact with company salespeople allows business-to-business products to
improve; possess image, association, and perceptions of value, but initial awareness and
associations (Gordon et al., 1993). In industrial markets, branding depends on the
surrounding distribution network (Gordon et al., 1993; Rosenbroijer, 2001), making the
role of distributors essential in building equity. Large organizations often have a buying
center consisting of many parties from various departments, specialists, and other interest
groups, all of whom impact the purchase decision (Gordon et al., 1993; Morris et al.,
1999). It makes the process more complex as each member will possess different needs
and view the purchase situation, buying criteria, and alternative suppliers in various ways
(Ghingold and Wilson, 1998). The Keller model is focused primarily on individuals’
perceptions of brands in the assessment of brand equity. Still, in a B2B context, these
other influencers can also impact brand equity.
The second step establishes brand meaning by linking tangible and intangible
brand associations. Brand meaning is either functional (brand performance) or abstract
(image-related) associations. Operational attributes are 1) primary ingredients and
additional features; 2) product reliability, durability, and serviceability; 3) service
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effectiveness, efficiency, and empathy; 4) style and design; and 5) price. Image
associations relate to the extrinsic properties of the product: 1) user profiles; 2) purchase
and usage situations; 3) personality and values; and 4) history, heritage, and experiences
(Keller 2003).
By contrast, industrial research suggests that brand value has other components
including the product, distribution services, support services, and the company, each
possessing both tangible and intangible elements (Low and Blois, 2002; Mudambi et al.,
1997). Keller’s model tends to ignore aspects relating to support services (specifically the
rapport between the service provider and customer) and the company (such as
profitability, market share, and reputation), which may have greater importance in a B2B
context. Similarly, Thompson et al. (1997/1998) identify other brand attributes associated
with the industrial purchasing process. There is some overlap between Keller's brand
meaning construct and these traits, but several notable omissions exist.
Quality, reliability, performance, and service are primary factors for building
brand loyalty in the industrial context, with quality being paramount (Bendixen et al.,
2004; Michell et al., 2001; Thompson et al., 1997/1998). Keller sees it in the higher order
pyramid block judgments but ignores the customer relationship with the sales team due to
his concentration on consumer markets. The sales force is a primary brand-building tool
for B2-B marketers (Lorge, 1998). A buyer’s purchase choice depends on their
assessment of the product’s functional benefits and their evaluation of the company’s
salespeople (Gordon et al., 1993; Michell et al., 2001). These staffs are company
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advocates who can affect the brand's meaning in various ways (Hogg et al., 1998;
Kennedy, 1977; Tilley, 1999).
The Keller pyramid focuses on the individual brand. Still, companies’ market B2-
B products under the manufacturer label or a hybrid brand, using the company’s name
with a specific product name (Gordon et al., 1993; Michell et al., 2001). It makes the
company name a critical decision variable. Factors relating to the company behind the
brand form only a minor part of the Keller model, but they are essential in a B2B context
(Selnes, 1993; Thompson et al., 1997/1998). For example, Abratt (1986) found supplier
reputation more important than price, and Shaw et al. (1989) showed that intangible
attributes are often more important than product performance.
The brand response is the third step in the Keller model and represents opinions
and evaluations of the brand based on a combination of associations identified in brand
meaning. These judgments include quality, credibility, consideration, and superiority.
Brand feelings are customers’ emotional responses and reactions to the brand. Keller
identifies six types: warmth, fun, excitement, security, social approval, and self-respect
(Keller, 2003).
Its approach reflects a customer focus on brands' functional, emotional, and self-
expressive benefits. In contrast, industrial brand management is characterized by
branding at the corporate level, with greater customer emphasis on risk-reduction than on
expressive benefits (Mudambi, 2002). One way to manage and decrease the
organization's risk and uncertainty are to buy leading brands from reputable companies
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(Mitchell, 1995; Mudambi, 2002). It supports the importance of feelings and imagery in
the organizational buying context. Still, it suggests that the B2B brand equity model
requires different textures and imagery than those specified by Keller.
Brand relationships constitute the final step in the pyramid where the brand
response converts to creating an intense, active loyalty relationship between customers
and the brand. The pyramid's pinnacle is resonance, which refers to the relationship
between the customer and the brand. It has four elements: behavioral loyalty, attitudinal
attachment, sense of community, and active engagement (Keller, 2001).
Customer loyalty-generating factors have also been important to industrial brands'
success (Michell et al., 2001). Unlike consumer markets, the gain or loss of a few
customers can significantly impact an industrial manufacturer’s bottom line. It makes
brand loyalty particularly important as it is, in some respects, firm adherence (Gordon et
al., 1993). Changes for one individual product may affect perceptions of all products and
cause a distributor to switch suppliers in all categories after a poor experience with a
different product (Gordon et al., 1993). While there is a lack of research to confirm the
existence of attitudinal attachment and a sense of community in industrial markets, there
is evidence of active engagement. Hutton (1997) found willingness to communicate about
the brand and make brand referrals. He also found that some organizational buyers had
developed a strong relationship with the brand they were willing to extend to other
products with the same brand name.
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To assess the applicability of the Keller model in a B2B environment and identify
insights and challenges of such an application, we undertook a study of the market for
electronic tracking systems for waste management. Electronic tracking systems for waste
management represent an attractive market for investigating Keller’s brand equity model.
Marketing high-technology products are challenging, and brands' use has been minimal
until recently (Zajas and Crowley, 1995). However, an increasing number of these
companies are now undertaking brand-building activities assuming they can create an
asset that generates long-term profits (Aaker and Jacobson, 2001).
The Effects of Brand Equity on the Purchase Intention of Car

Insurance Worldwide
Brand attitude and image are precursors of brand equity, and brand preference and
purchase intent are the results (Chang & Liu, 2006). Brand equity affects customer
preference and purchase intentions. Branding is an innovation strategy for brand equity
that aims to enhance the reputation of stakeholders. In the ever-changing business
climate, insurance companies have recognized the underlying value of goods and now
view them as valuable assets (Hassan et al., 2021). With the increased significance of
brand equity, insurers must monitor and evaluate insurance brands to understand the
relationship between brand equity and purchase intentions.
Insurance companies are looking for ways to strengthen their brands and build
loyal customer bases. Customers are becoming increasingly more sophisticated in
selecting products that satisfy their needs (Thiripurasundari & Natrajan, 2011). Thus,
consumer product companies face increasing competition from rivals while also striving
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to expand into new markets. As a result, many consumer firms are turning toward
branding as a strategy for creating strong relationships with customers.
Brand equity measures a company's reputation or standing in the market. Brand
equity is due to several factors, including quality, image, and trustworthiness (Hassan et
al., 2021). Brand equity may be the essential factor in the customer's car purchase
intention. People tend to buy products rather than brands, and the purchase intention is
related to brand equity. When customers are satisfied with the brand, they are more likely
to consider purchasing the car and the insurance again in the future (Thiripurasundari &
Natrajan, 2011). The stronger their feelings toward a brand, the more likely they will
choose to purchase it again and recommend it to others. When a car insurance company
attains a high level of "loyalty," customers no longer desire it for its functional
characteristics alone but for its emotional factors. It is where the car company offers
assurance through insurance, allowing the customers to feel safe whenever they are
driving. By displaying its brand equity well, a car insurance company will be able to
attract more customers.
According to Thiripurasundari and Natrajan's (2011) research, brand preference
and brand loyalty play a significant part in establishing brand equity in India. The
behavior of these components of brand equity must be constant so that customers see and
value a consistent picture of the business. The company should maximize brand
preference and loyalty by building relationships with clients and serving them well,
making the brand's good reputation, and through extensive advertising and promotion.
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Once customers begin to trust a particular brand, they will likely rate it highly concerning
its quality (Chang & Liu, 2006).
An insurer must develop a cost-effective decision-making process based on the
value of customer relationship management (CRS) (Hassan et al., 2021). The company
can achieve this through brand equity, high customer satisfaction with the brand, loyal
customers, and strong brand loyalty. Brand equity positively impacts customer preference
and purchase intention for car insurance. The higher the level of brand equity is, the more
customers are loyal to the product (Hassan et al., 2021). Satisfied customers can
contribute to building value for the brand. Customer satisfaction is one of the most
crucial marketing factors that help establish a good reputation for brands (Hassan et al.,
2021).
In a nutshell, brand equity positively affects the customer's purchase intention for
car insurance. It is more significant for the brand that the customers' trust and the price is
lower than others.
The Effects of Brand Equity on the Purchase Intention of Car

Insurance in the Philippines
It is essential to have car insurance in the Philippines since driving here is
essentially a form of martial arts, and the weapons are your vehicle and those of other
drivers. Statista (2021) reports that in 2021, there will be 262 traffic accidents every day
in Metro Manila alone. If you are driving a brand-new or pre-owned car, you will want
some assurance and comfort in the event of an accident or other unforeseen
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circumstances. In light of Metro Manila's high rate of car accidents, it may be wise to
invest in health and car insurance. Accidents are impossible to foresee, but the company
must prepare just in case.
The car insurance companies with good brand equity are more likely to receive
positive purchase intent from their target market. The company may build an insurance
company's perceived brand equity on various factors, including the advertising, sales,
promotional, and social media methods used to advertise the company's products.
Filipinos tend to be brand conscious and loyal to the brands they trust. The Philippines
has a robust advertising exposure. Online advertisements are widely seen, with 76.01
million internet users (Kemp, 2022).
Such an active advertising business means customers are more likely to purchase
based on brand equity because they are constantly bound to advertisements. Most car
insurance companies provide that during the first five years of ownership of a new car in
the Philippines, a comprehensive insurance policy typically gives 100% coverage for
collision damage. After five years, the policyholder is responsible for a portion of the
repair or replacement expenses, which climbs annually by up to 55% due to depreciation
(Estabillo, 2021).
When filing a claim for comprehensive automobile insurance in the Philippines,
you will have to pay a cost, or deductible, to expedite the procedure. The fee for
participating in a car insurance policy is generally between 0.5 and 1 percent of the
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vehicle's market value (Estabillo, 2021). The cost is in place as a precaution against the
policyholder claiming for the tiniest possible damages and to deter fraudulent claims.
When your automobile is not ambitious, comprehensive insurance Philippines
provides coverage for any collision damage it might suffer. Malicious acts of third
parties, such as vandalism, are covered by insurance if you leave your automobile in a
secure parking lot while doing business and return to discover it vandalized (Estabillo,
2021).
In a nutshell, Filipinos are loyal, value brand equity, and are concerned with being
secured. The attributes of the Filipino consumer, coupled with the characteristics of the
national car insurance market in the Philippines, all make it a profitable endeavor for
those companies holding substantial brand equity.
Theoretical Frameworks
“Influence of social media advertising on customer’s purchase decision”

Shubhangam et al., (2020)
Figure 1. Influence of social media advertising on customer’s purchase decision
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Social media usage in today's world is getting bigger and bigger, and social media
is modifying the traditional ways of advertising and marketing. In its journal, it talks
about the effect of electronic word of mouth (e-WOM) in building brand equity. The
common qualities of social media advertisement are information, entertainment, rewards,
trust, and satisfaction, and these qualities significantly affect Electronic Word of Mouth
(e-WOM). Its findings revealed that Electronic Word of Mouth (e-WOM) has a
significant effect on Brand equity and, at the same time, brand equity on a consumer's
purchase intention. Additionally, negative and positive e-WOM can result in both gain
and loss to an organization; by incorporating it in their social media advertising,
companies can attract many patrons. Secondary data was from several journals and
articles. The study gives the idea of building substantial brand equity through e-WOM.
Additionally, it ratifies the strong positive relationship between brand equity and
purchase intention. (Kumar et al., 2020).
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“The impact of brand equity drivers on consumer-based brand equity in

sports service selling”
Gordon, B. S., James, J. D., (2017)
Figure 2. Impact of Brand Equity Drivers on Consumer-based Brand Equity in Sport
Service Selling
According to past studies, brands with high equity help enterprises establish
pricing, win market share, sustain customer loyalty, give successful brand extension
options, and even persuade consumers to promote positive word-of-mouth about their
products and services. For as long as people have known about the value of a company's
brand, they've paid little attention to how customers' actual behavior affects those
projected drivers. Understanding the impact of brand equity, such as brand awareness and
brand associations, is essential to empirically assess the numerous reasons for the
consumers' behavioral intentions (Gordon and James, 2017). The study conceptualized
and tested a consumer-based brand equity model based on Keller’s brand equity pyramid
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that explains how consumer perceptions affect brand resonance. The consumer-based
brand equity pyramid is a sequential framework for how organizations can build a strong
brand and includes four steps, each of which needs to be to reach the next. The survey
questionnaire contained several sections of service brand-related measures. They selected
a service brand (New York Yankees) due to the high awareness of the sports service
brand within their target sample, which allowed for a more accurate comparison across
contexts. To validate the consumer-based brand equity model, they gathered usable data
with an example of (n=787) general consumers in a mid-sized southeastern community.
The study's findings prove that brand association is essential to the overall brand-building
process. Hence, brand association influences consumers’ cognitive evaluations and
affective responses to the brand rather than behavioral intentions. In the study, they found
out that the brand association does not directly affect the level of brand resonance of the
consumers. Therefore, the study provides a “brand barometer” to deeply understand the
more remarkable progress a company has made in its attempts to manage and build its
brand.
Furthermore, the study has operationalized a new set of consumer behavioral
outcomes. The study provides evidence that consumers actively connect to the brand
regularly and make an effort to connect with other consumers on behalf of the brand.
(Gordon, S. & James, J) The researcher used sample data of 787 respondents to acquire
the research results.
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“Factors Influencing Consumer Purchasing Decision of Used Car

Insurance in Bangkok”
Techasurin, W., Nuangjamnong, C. & Dowpiset, K. (2020)
Figure 3. Factors Influencing Consumers Purchasing Decision of Used Car Insurance in
Bangkok”
Currently, The advanced car insurance market has almost reached full penetration
ratios, but emerging markets like the Asia market still have the potential to grow.
Thailand has continued growth in car insurance. Thailand is the second largest car
insurance market in ASEAN and has a lot of opportunities to grow. Therefore, its study
aims to analyze and identify the factors influencing consumer purchasing decisions of
used car insurance in the Bangkok area. The target populations are people who live or
work in Bangkok, Thailand. The variables included in the conceptual framework were
consumer purchasing decision (dependent variable) and price, brand name, and brand
image (independent variable). The researcher collected the data by applying non-
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probability sampling consisting of convenience sampling and snowball sampling with
400 respondents via an online questionnaire survey. They used multiple linear regressions
to find the influence of independent variables on a dependent variable. As a result, price,
brand name, and brand image significantly influence consumer purchasing decisions of
car insurance in Bangkok. Techasurin, W., Nuangjamnong, C. & Dowpiset, K. (2020)
Exploring the impact of marketing mix on brand equity in the

insurance industry
(ASIA INSURANCE FIRM, IRAN)

Hosseini M., Moezzi H., (2015)
Figure 4. impact of marketing mix on brand equity in the insurance industry
This study explores the impact of marketing mix on the brand equity in the
Insurance Industry, such as price, firm image, distribution, promotion, and propaganda in
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Iran. According to them, to build a stronger brand, you should set customer-perceived
brand equity elements (Perceived Quality, Brand Loyalty, Brand Awareness, and
Association) as a guide and criteria to enhance its potential choosing by customers. Due
to easy access to the statistical population, particularly Asia Insurance Firm customers in
Shiraz, Iran. Out of 950 customers during a week, only a statistical sample (n=275) was
selected using Kergsy-Morgan Table and a simple random method. The scale of the
questionnaire is on a 5-point Likert’s model. The assessment of the valid questionnaire
distributed among 30 respondents and data analysis Cronbach's alpha was 0.791, which is
higher than 0.7. The findings revealed a direct relationship between the marketing mix's
five (5) elements (price, firm image, distribution intensity, propaganda, and promotion) to
3 brand equity. The relationship between brand image and perceived quality, as well as
the relationship between brand image and awareness, were established. Three brand
equity dimensions boost brand value. Substantial brand equity (recognition, affiliation,
perceived quality, and commitment) can influence a customer's purchase intention.
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“Factors Affecting Consumer’s Purchase Intention toward Japanese

Cars in Bangkok.”
Thanomsub, M. (2015)
Figure 5. Factors Affecting Consumer’s Purchase Intention toward Japanese Cars in
Bangkok
The journal is about the Components of Brand Equity: brand awareness, brand
association, perceived quality, and brand loyalty that affect the consumers' purchase
intention toward Japanese cars in Bangkok, Thailand. Its research methodology is
quantitative research utilizing questionnaires to examine the effect of the four
components of Brand Equity on the consumers' purchase intentions toward Japanese cars.
The researchers used data from 400 respondents to acquire the research results. The
finding revealed that brand awareness, association, perceived quality, and loyalty, which
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are the four factors building brand equity, directly affect consumer purchases. The study
shows that brand loyalty is the highest level that affects the consumer's purchase
intention, followed by brand association, then brand awareness. The least among the four
factors building brand equity is the perceived quality. (Morradok Thanomsub). The study
supports the current research by establishing a framework between the four components
of brand equity and purchase intention (Morradok, 2015).
Conceptual Framework
Figure 6. Conceptual framework
(Adopted from Factors Affecting Consumer’s Purchase Intention toward Japanese Car in
Bangkok. M Thanomsub)
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The brand equity factors affecting the purchase intention of car insurance
customers in Metro Manila are brand awareness, brand associations, perceived quality,
and brand loyalty. The framework shows the relationship between the four factors of
brand equity, which are independent variables, and the purchase intention, which is a
dependent variable. This relationship is affected by the demographic profile of the
respondents.
The concept of "brand equity" is based on the idea that well-known firms can
make more money providing goods under their brand name than lesser-known ones.
Because of the reliability and dependability that come with buying from a famous brand,
consumers place a high value on it.
One of the initial variables, known as brand awareness, focuses on how well a
brand is understood and recognized by consumers—the effect of a carbohydrate
instruction corporation on its customers. Second, brand association significantly impacts
brand equity since it increases the brand's visibility and ubiquity. As a result, the value of
a brand improves as its link with the brand grows. Next, customers' buying intentions
impact the perception of quality. The product's packaging and celebrity endorsement are
two more aspects that significantly impact buyers. Lastly, brand equity and brand loyalty
are linked or associated. Brand loyalty comes with a lot of brand equity, which makes it
easier for people to choose between brands that are similar.
By linking the independent variable (brand equity), the moderating variables
(brand awareness, brand association, perceived quality, and brand quality), and the
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dependent variable (customer's intention to buy a car), the researcher is able to study the
relationships between the elements while combining and studying the variables.
The study focuses on the brand equity factors affecting the car insurance purchase
intention of car insurance customers in Metro Manila. Brand equity differs from brand
awareness, brand association, and perceived quality or quality as it focuses on how much
these three variables impact car insurance purchase intention. The effect of demographic
profiles is changed by the effect of these four independent variables.
The customer's purchase intention dependent variable is a choice between two
options. "Yes" if the respondent chooses to apply for car insurance, and "no" if the
respondent does not intend to use car insurance. The overall effect of all independent
variables (brand equity) is determined by analyzing their contribution to the customer's
choice. The moderating effect of demographic profiles balances the variables by
comparing the relationship between brand equity and purchase intention among the
groups.
It implies that brand equity affects customers' intentions to purchase car
insurance. However, it also shows a moderating effect of demographic profiles on brand
equity. Brand equity indirectly affects car insurance purchase intention via demographic
profiles.
The reputation of a car insurance company is also a factor in shaping its image.
Reliability reflects well on a company's public image when the majority verifies it.
Clients who see its sincerity and competence as a sign of quality are more likely to
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become repeat customers. Many auto insurance companies advertise their products or
brands to show customers that they can be trusted.
CHAPTER 3
RESEARCH DESIGN AND METHODOLOGY
Research Design
This study applied a descriptive research approach with a correlation method that
includes informal interviews. Through its process, it provided a better understanding of
consumers' purchase intentions in availing of car insurance.
The interpretation of the study has three (3) phases. The first phase is the validation
of the questionnaires done by three official validators. The second phase involves the
actual data gathering of information through online and face-to-face survey
questionnaires and interviews. Furthermore, conducting clarifications to the questionnaire
for respondents to fully understand the question during the interview. And lastly,
presented the data and analysis of the result to measure the respondents' compliance.
Population and Sample

According to the 2021 LTO Annual Report, the total number of registered vehicles
in Metro Manila is 2,926,338. Below is the computation of the total respondents of the
study utilizing Slovin's formula using the standard error of.05, which is equivalent to a
95% confidence level.
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Research Instrument
The data gathering instruments consisted of parts, namely:
Part I seeks information on the demographic profile of the respondents in terms of
age, sex, highest educational attainment, monthly personal income, and car insurance
brand ownership.
Part II gathering information on the level of brand awareness of the respondents,
level of brand association of the respondents in terms of perceived value and brand
personality, level of perceived quality of the respondents in terms of product quality and
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leadership, level of brand loyalty of the respondents in terms of price premium and
satisfaction, and status of brand equity of the respondents.
Part III elicits data regarding the purchase intention needed to provide based on
the findings of its study.
Validity
A researcher uses validity in qualitative research. It is the central aspect of the
design of any assessment of the instrument education research (Muij 2004:67). It refers to
the process of testing how well the test measure it claims to be. Creswell & Miller (2000)
propose that a researcher stirs validity through discernment of truth in the study and its
preference for paradigm assumption. Two industry experts and one academician
thoroughly analyzed and validated the research.
Reliability
Reliability refers to the degree of preciseness on the result of the assessment
representing the actual skill level of the researcher. For the instrument to be consistent, it
should undergo reliability (Latief 2011). In this case, the researcher conducted 15 pretest
samples to know how far the reliability of the instrument was. Cronbach’s Alpha
measured the internal consistency with a .70 and above to signify that the test design
accurately measured the variable of interest
Cronbach’s Internal
Alpha Consistency
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.90 and above Excellent
0.80 - 0.89 Good
0.70 - 0.79 Acceptable
0.60 - 0.69 Questionable
0.50 - 0.59 Poor
below 0.50 Unacceptable

https://www.statisticssolutions.com/cronbachs-alpha/
Data Gathering Procedures

The researcher used a survey methodology to collect the primary data by
distributing questionnaires through email, social media platforms, and online forms in
Metro Manila. The method used for the population selection was convenience sampling.
The researcher did a face-to-face survey with people from different important places and
business districts with a lot of car owners.
Statistical treatment
The researcher analyzed the data using the following statistical tools:
a. Frequency count and percentages to describe the demographic profile of
the respondents in terms of age, sex, highest educational attainment, monthly
household income, and car insurance brand ownership.
b. Mean to determine the level of brand awareness of the respondents, level
of brand association of the respondents in terms of perceived value and brand
personality, level of perceived quality of the respondents in terms of product
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quality and leadership, level of brand loyalty of the respondents in terms of
price premium and satisfaction, and status of brand equity of the respondents.
c. Simple Linear Regression Analysis determined the effect of brand
awareness on the purchase intention of the respondents, the impact of brand
association on the purchase intention of the respondents, the result of
perceived quality on the purchase intention of the respondents, the impact of
brand loyalty to the purchase intention of the respondents.
d. Multiple Linear Regression Analysis determined the effect of components
of brand equity which are brand awareness, brand association, perceived
quality, and brand loyalty, on the purchase intention of the respondent as
moderated by their demographic profile.
Ethical Considerations
The conduct of the primary research employed ethical considerations.
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Conflict of Interest. There was no conflict of interest in the conduct of the study
because the researcher was just interested in the participants' lived experiences for
research purposes.
Privacy and Confidentiality. The researcher maintained the privacy and
confidentiality of the participants by assigning codes/pseudonyms to the respondents. The
researcher put the participants' information in a lockable and secure filing cabinet.
Shredding destroyed documents, and the researcher removed interviews after conducting
the study.
Informed Consent. The researcher gave the participants proper orientation on the
purpose of the study. The researcher explained the benefits that they get from the
research. Their willingness to participate by answering the questions during the interview
is tantamount to implied consent.
Recruitment. The researcher solicited voluntary participation from the
respondents. They are informed that they can withdraw their participation anytime.
Risk. The researcher ensured that respect for dignity, autonomy, and the
participants' involuntariness was compromised during the research.
Benefits. The participants benefit from the study because it was used to develop
suitable support programs.
Compensation. No compensation was given to the respondents for participating in
the interview.
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CHAPTER 4
PRESENTATION, ANALYSIS, AND INTERPRETATION
OF DATA
The chapter presents and discusses the analysis and interpretation of the data
gathered from the participants’ responses in answering the specific questions of the study.
We have collected 480 respondents, and 42 of those we’re not valid. The sequence of the
data presentation, analysis, and interpretation is arranged according to the problem
statement.
In our statement on the problem, “What is the effect of brand equity on the
purchase intention of car insurance customers in Metro Manila as moderated by their
demographic profile?” We have used the survey methodology to collect data by
distributing questionnaires through online and face-to-face surveys. We have gathered
480 respondents and asked them if they own car insurance. Out of the 480 respondents,
36 stated that they don’t own car insurance, leaving us a total of 444 qualified
respondents for the study. To quantify the respondent who resides in Metro Manila, we
have asked them what city they live in, and from the 444 qualified respondents, 6 of those
were living outside Metro Manila, which gives us a total of 438 final and qualified
respondents to the study. In its study, we were able to get a respondent from all cities in
Metro Manila, and the majority of the respondents in the study were from Quezon city,
which had 15.30%, followed by Manila which had 11.64%, and Caloocan city, 10.05%.
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RO1: To determine the demographic profile of the respondents.
1.1 Age
Table 1.1 Age of the Respondents
Age f %
19-below 15 3.42%
20-24 38 8.68%
25-29 94 21.46%
30-34 70 15.98%
35-39 63 14.38%
40-44 51 11.64%
45-49 19 4.34%
50-54 42 9.59%
55-59 21 4.79%
60-above 25 5.71%
TOTAL 438 100.00%
The first demographic profile of the respondents is age. Based on the data gathered,
21.46% of the respondents belong to the 25–29-year-old age bracket, which is followed
by the 30–34-year-old age bracket with 15.98% of the respondents. These results may be
linked to the data gathering method used by the researcher. In addition, it may also be
linked with the data on car ownership in the Philippines. The majority of the respondents
came from the age range of 25 to 29 years old. It is directly correlated to their ability to
purchase a car since that age range is also the range of the population who have jobs and
businesses.
In line with that, it is necessary to have a consistent flow of income to be able to
afford a car. According to the data provided by the Philippine Statistics Authority, in the
year 2022, wage and salary workers will make up 61.2% of the total population.
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Furthermore, according to Statista (2022) data, approximately 84.6 percent of Filipinos
owned a conventional automobile. Gasoline and diesel fuel are used in conventional
types of vehicles. Some of the country's most reputable automobile manufacturers offer
them for sale, and customers have various payment options to choose from when making
a purchase (Statista, 2022). Therefore, when looking at car ownership based on age,
customers between the ages of 25 and 54 are the ones who acquire the newest vehicles
and own at least one (Hedges Company, 2019).
The following age range we observe is from 30 to 34 years old. The group is also
considered a young adult age group. It is also the second peak period for car purchases
after 25–29 years old, with an average annual income of 313,000 PHP (PSA, 2022) and
money to spare for a down payment and monthly installments; in 2022, one can start
driving. Hence, despite the pandemic, sales increased by 11.4 percent in the first quarter
of 2022, with 154,874 vehicles sold compared to last year. The researcher concluded that
the age groups of 25–29 and 30–34 years old are likely to purchase more cars.
1.2 Sex
Table 1.2. Sex of the respondents
Sex f %
Female 239 54.57%
Male 199 45.43%
TOTAL 438 100.00%
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In terms of sex, the researcher was able to have a better representation of both
sexes. As shown in the table, there are 239 female respondents in the study, which is a
little higher than the 199 male respondents.
1.3 Highest Educational Attainment
Table 1.3. Highest educational attainment of the respondents

Highest Educational
Attainment f %
Highschool Undergraduate 14 3.20%
Highschool Graduate 40 9.13%
Technical Vocational 32 7.31%
Bachelor's Degree 287 65.53%
Master's Degree 45 10.27%
Doctoral 20 4.57%
TOTAL 438 100.00%
The third demographic profile of the respondents is their highest educational
attainment. The results show that the majority of the respondents, which is equivalent to
65.53%, have a bachelor’s degree. Its concentration may be related to the data gathering
method of the researcher.
1.4Monthly Household Income
Table 1.4. Monthly household income of the respondents

Monthly Household Income f %
Less than PHP 11,690 18 4.11%
PHP 11,690-PHP 23,381 28 6.39%
PHP 23,381-PHP 46,761 156 35.62%
PHP 46,761-PHP 81,832 119 27.17%
PHP 81,832-PHP 140,284 68 15.53%
PHP 140,284-PHP 233,806 49 11.19%
PHP 233,807 and higher 0 0.00%
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TOTAL 438 100.00%
The researcher also asked about the monthly household income of the respondents,
which may play an important part when it comes to their purchases. Based on the results,
the respondents are concentrated within the PHP 23,381–PHP 81,832 income brackets.
Specifically, 35.62% of the respondents have a monthly household income of PHP
23,381–46,761. On the other hand, 27.17% of the respondents have a monthly household
income of PHP 46,761–81,832. The data may be linked with the highest educational
attainment of the respondents, which showed that the majority of the respondents
received a bachelor’s degree, which may be an opportunity for them to be employed and
receive this income.
1.5 Car Insurance Brand Ownership

Table 1.5. Car Brand Ownership of the respondents
Car Insurance Brand f %
Prudential Guarantee and Assurance, Inc. 78 17.81%
Malayan Insurance Company 61 13.93%
Pioneer Insurance and Surety
9.82%
Corporation 43
FPG Insurance 40 9.13%
Standard Insurance 34 7.76%
MAPFRE Insular Insurance Corporation 23 5.25%
Philippine British Assurance Company 22 5.02%
Charter Ping An Insurance Corporation 21 4.79%
Commonwealth Insurance Company 16 3.42%
Fortune General Insurance 15 3.65%
Mercantile Insurance Corporation 14 3.20%
Sterling Insurance Company Inc. 12 2.74%
BPI/MS Insurance 11 2.51%
Bethel General Insurance and Surety
2.28%
Corporation 10
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UCPB General Insurance Company 9 2.05%

BDO Unibank Insurance 6 1.37%
PNB General Insurers Co. 5 1.14%
Alpha Insurance & Surety company inc. 4 0.91%
Oriental Assurance Corporation 3 0.68%
Perla Insurance 3 0.68%
Intra-Strata Assurance Corporation 2 0.46%
Milestone Guaranty and Assurance Corp. 2 0.46%
Western Guaranty Corporation 2 0.46%
Corporate Guarantee and Insurance 1 0.23%
Stronghold Insurance Company, Inc. 1 0.23%
TOTAL 438 100.00%
One of the screening questions included in order for a respondent to be considered
a valid respondent is whether they currently have car insurance. After screening, there are
a total of 438 valid respondents. These respondents have specified the type of car
insurance they have, as shown in the table above. Among the different car insurance
providers, the top 5 brands owned by the respondents are Prudential Guarantee and
Assurance, Inc. (17.81%), Malayan Insurance Company (13.93%), Pioneer Insurance and
Surety Corporation (9.82%), FPG Insurance (9.13%), and Standard Insurance (7.76%).
These top 5 brand insurance companies are also the pioneers in the industry, which
means that most consumers look at how long the company has been in the market.
RO2: To determine the level of brand equity of the respondents.
Table 2 Level of Brand Equity of the respondents

CONSTRUCT MEAN SD INTERPRETATION
Very High Level of
Brand Association 4.50 0.2869
Brand Association
Very High Level of
Perceived Quality 4.38 0.2372
Perceived Quality
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High Level of Brand

Brand Awareness 4.10 0.3181
Awareness
High Level of Brand
Brand Loyalty 4.04 0.274
Loyalty
Very High Level of
OVERALL 4.26 0.1953
Brand Equity
Perceived Quality, Brand Awareness, and Brand Loyalty are considered in the
study as the constructs of brand equity. Refers to a value premium that a company
generates from a product with a recognizable name when compared to a generic
equivalent. Companies can create brand equity for their products by making them
memorable, easily recognizable, and superior in quality and reliability. Mass marketing
campaigns also help to create brand equity. When a company has positive brand equity,
customers will willingly pay a high price for its products, even though they could get the
same thing from a competitor for less. Customers, in effect, pay a price premium to do
business with a firm they know and admire. Because the company with brand equity does
not incur a higher cost than its competitors to produce the product and bring it to market,
the difference in price goes to their margin. The firm's brand equity enables it to make a
bigger profit on each sale. The positive ratings on the constructs resulted in a very high
level of brand equity.
A trusted brand is a brand that consistently meets its promises to customers
through superior performance. Doing it that way implies that customer brand loyalty is
ensured (Chiou and Droge, 2006). It implies that brand trust leads to brand loyalty as
well. Moorman, Zaltman, and Deshpande (1992) suggested that trust and loyalty have to
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be interrelated since trust is an important key to developing a consumer’s commitment or
loyalty to the enterprise.
Deheshti et al. (2016) say that building and keeping customers' trust in a brand is
one of the most important marketing programs for businesses. This is especially true in a
market that is competitive, unpredictable, and where products are not very different from
each other.It is necessary to develop consumers' intentions through brand trust and
organizational trust. Brand trust leads to brand loyalty (Delgado-Ballester & Munuera-
Aleman, 2001). It is particularly true because brand trust can create a valuable
relationship (Chaudhuri & Holbrook, 2002). It shows that brand loyalty is a part of a
valuable and long-lasting relationship that comes from brand trust. Wu et al. (2008) and
Berry (1983) show that other researchers agree that brand trust is what makes people
loyal.
2.1 Brand Awareness
Table 2.1. Level of brand awareness of the respondents

STATEMENT MEAN SD INTERPRETATION
My insurance company comes up first in my
4.64 0.5912 Strongly Agree
mind when I want to purchase car insurance.
When I see an advertisement about car
insurance, I always think of my car 4.27 0.6918 Strongly Agree
insurance company first.
I can differentiate my insurance company
4.10 0.5343 Agree
from others.
I can recognize some characteristics of my
3.74 0.6234 Agree
insurance company.
When I think of my insurance company, I
3.73 0.7848 Agree
can recognize the brand name immediately.
High Level of Brand
TOTAL 4.10 0.3181
Awareness
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The first variable included in its research is brand awareness. It represents how
familiar the target audience is with the brand and how well they recognize it. Thus,
establishing brand awareness is valuable when marketing and promoting the company
and its products or services, especially in the early stages of a business. In line with that,
the respondents strongly agreed that their insurance company comes to their mind
whenever they want to purchase car insurance. Stated by three (3) respondents, when it
comes to brand awareness on auto insurance, “it is where advertising amounts of money
are most worthwhile, the advertising content that leads us, consumers’ increased
awareness is of non-informational nature on brand names and funny/entertaining
content.” Moreover, the respondents also agreed that whenever they see an advertisement
for car insurance, they always think of their car insurance company first. Overall, the
respondents have a high level of brand awareness with regard to car insurance. It implies
that the effort of the study was made and analyzes the usage pattern of car insurance
attributes to attract customers' opinion towards the car insurance marketing efforts of the
company in terms of creating awareness about the various policies offered to
the customers by the company. Usually, people believe in the publicity and service
provided by the company rather than the brand of the company when it comes to vehicle
insurance. The customer shows different satisfaction levels for different aspects, which
are either in terms of service or different policies offered by the company, and that differs
from customer to customer. Customers are always loyal to the company during the time
of purchasing an insurance policy, and on the other hand, the company always focuses on
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retaining customers from the customer’s point of view by getting feedback from them
and providing effective service to them.
2.2 Brand Association
The next variable included in its research is brand association. It is when company
traits are rooted in customers’ minds. The goal of brand association is to have a brand
linked with positive attributes. The brand association builds value and equity for a
company's brand. It ultimately makes consumers aware of brand quality. This variable
will be measured through two main constructs, which are perceived value and brand
personality.
Table 2.2 Level of Brand Association of the respondents

Very High Level of
Perceived Value 4.53 0.3543
Perceived Value
Very High Level of
Brand Personality 4.48 0.3604
Brand Personality
Very High Level of
AVERAGE 4.50 0.2869
Brand Association
Based on the assessment of the constructs, it can be concluded that the
respondents have a very high level of brand association with their car insurance
providers. It implies that consumers feel comfortable when they feel that brands fit their
self-awareness; thus, brand association helps create the value of businesses and customers
and increases brand value as well by helping customers distinguish different brands,
creating positive feelings and attitudes in the consumers' memories, and providing
reasons for consumers to buy them.
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Aaker and McLoughlin (2010) explain that brand associations have linkage to the
brand in the consumers’ minds. Brand associations are significant in that they enable
consumers to process and retrieve brand-related information and the creation of attitudes
(Aaker, 1991; Yoo, Donthu, & Lee, 2000). They also provide a critical understanding of
diverse consumer-related aspects (Christodoulides, Michaelidou, & Li, 2009). Brand
associations are said to be a key element in consumer intentions, consumer loyalty to the
brand, and creating value for the business. So, brand association is a part of brand equity,
and it affects brand loyalty (Bang, 2016) and consumer buying intentions (Nghi et al.,
2014).
2.2.1 Perceived Value

Table 2.2.1 Level of the Perceived value of the respondents
I am proud to own car insurance from its
company.
What I get from it insurance company is
worth the cost.
The quality service of it company is reliable. 4.53 0.6184 Strongly Agree
It company provides good value for the
money.
It insurance company is dependable. 4.36 0.7360 Strongly Agree
Very High Level of
TOTAL 4.53 0.3543
Perceived Value
The first construct of brand association is perceived value. Perceived value refers
to the perspective or opinion of a customer towards a product or service, which is often
influenced by how the goods and services meet the needs and expectations of the
customer. Perceived value, which comes from a customer's view of a product, helps
marketers choose the proper marketing methods. Respondents are proud to have
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automobile insurance with their supplier, they say. They agree that their insurance is
worth the expense. Respondents value auto insurance highly with these.
2.2.2 Brand Personality

Table 2.2.2 Level of Brand Personality of the respondents
I can quickly recall the symbol or logo of it
insurance company.
I can remember advertising it car insurance
company.
I believe that getting it car insurance
company can reflect my image.
It insurance company matches my
personality.
I have a clear image of the type of person
who would buy from it insurance company.
Very High Level of
TOTAL 4.48 0.3604
Brand Personality
The other construct of brand association is brand personality. It is a framework
that helps a company or organization shape the way people feel about its product, service,
or mission. A company's brand personality is meant to make a certain group of customers
feel something in order to get them to do something good for the company. Among the
statements listed, the respondents strongly agreed that they could quickly recall the
symbol or logo of their insurance provider. Five (5) respondents stated in the interview
that “personality dimensions should have ‘responsibility,’ ‘activity’ and, to a lesser
extent, ‘simplicity’ have both a direct and indirect effect through extension attitudes on
brand attitudes after extension.” In addition, the respondents also strongly agreed that
they could remember the advertisement for their car insurance provider. In summary, the
respondents have a very high level of brand personality for their car insurance provider. It
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implies that the brand personality of the consumer increases the personal meaning of the
services for the consumer and ensures that the consumer is synonymous with the services.
On the other hand, it increases the size of the relationship between the consumer and the
band, thereby increasing the consumer’s preference rate for the brand.
The extent to which a brand is perceived to possess certain personality characteristics
more than oneself is more predictive of brand evaluations than the mere absolute
difference between a brand’s personality and one’s own. It means that, when evaluating
brands, consumers do not so much have actual self-brand congruity in mind but rather
desire self-brand congruity (Berger and Heath, 2007; Bhattacharya and Sen, 2003). It is
in line with research that demonstrates that brands are mainly used for self-enhancement,
especially for publicly-consumed products like cars (Malär et al., 2011). Malär et
al. (2011) found that brand personality fit with the actual self is more important than
desired personality fit, especially for high-involvement products. The authors explain it
by arguing that when a brand represents something that is out of reach, its need for
distancing could result in a decreased emotional brand attachment. However, it may be
true for, say, cosmetics, but it is probably less true for cars or electric extensions of car
brands, as these are usually more realistic and less out of reach than the positioning of
certain other products.
2.3 Perceived Quality
The next variable included in the study is perceived quality. The quality of a
product or service is determined by the customer’s perception. It is a subjective criterion
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and does not have to coincide with the actual or objective quality, which is based on
tangible data such as raw materials, manufacturing process, warranty or after-sales
service, etc. Perceived quality will be assessed based on product quality and leadership.
Table 2.3. Level of perceived quality of the respondents

Very High Level of
4.48 0.2875
Product Quality Product Quality
Very High Level of
4.29 0.2989
Leadership Leadership
Very High Level of
AVERAGE 4.38 0.2372
Perceived Quality
Overall, respondents rated their car insurance providers as having a very high
level of perceived quality. Product quality refers to how the product meets the standards
of the industry and satisfies its clients, and leadership refers to the ability of a product or
a company to be superior in its field. A car insurance company that has great product
quality and leadership standing will lead consumers to purchase their services.
2.3.1 Product Quality

Table 2.3.1 Level of Product Quality of the respondents
The service quality of it brand is very high. 4.55 0.5288 Strongly Agree
In terms of overall service quality, I would
rate it car insurance company high.
I can expect superior services from it
insurance company.
The service quality of a car insurance
company is the most important in 4.40 0.5523 Strongly Agree
purchasing car insurance
It car insurance company is reliable. 4.40 0.5477 Strongly Agree
Very High Level of
TOTAL 4.48 0.2875
Product Quality
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Product quality is defined as how well a product satisfies customer needs, serves
its purpose, and meets industry standards. When evaluating product quality, businesses
consider several key factors, including whether a product solves a problem, works
efficiently, or suits customers' purposes. In line with that, the table above shows that the
respondents strongly agreed that the service quality of their insurance provider is very
high. In addition, they have also agreed that in terms of overall service quality, they
would rate their car insurance provider highly. Overall, the respondents assessed that
their car insurance providers have a very high level of product quality. It means that the
consumer's subjective opinion of a product is the basis for a product's uniqueness and
growth, and is an important part of building brand assets.
Aaker (1991) argued that perceived quality could show the striking difference
between a product or service and becoming a selective brand in the minds of consumers.
Perceived quality is a sign of achieving a distinctive brand position. For several
consumers, it is the basis on which their purchasing decisions are made (Aaker &
McLoughlin, 2010). Product quality dimensions include performance; conformance to
specifications; features; customer support; process quality and aesthetic design, etc.
(Aaker & McLoughlin, 2010; Yoo et al., 2000). According to Atilgan et al. (2009),
perceived quality forms the basis for differentiation and expansion and is an important
element of brand asset building. The quality of sentiment directly affects the intention to
purchase and loyalty to the brand (Bang, 2016), especially in the case of consumers who
are not motivated or unable to conduct a detailed analysis first (Aaker, 1991; Bick, 2011;
Buil, Martinez, & Dechernatony, 2013). Therefore, it plays an important role in consumer
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awareness of the value of car brands. In particular, the perceived quality affects the
intention of buying consumer cars (Thanomsub, 2013).
2.3.2 Leadership
Table 2.3.2 Level of Leadership of the brand
It car insurance company is reliable. 4.41 0.5813 Strongly Agree
I don't have difficulties in finding the
information that I need from it insurance 4.38 0.5555 Strongly Agree
company.
It car insurance company is a service quality
leader within its service quality category.
Its car insurance company is better
compared to others in terms of its service 4.22 0.6127 Agree
features.
It car insurance company always develops
4.15 0.4507 Agree
new services.
Very High Level of
TOTAL 4.29 0.2989
Leadership
The other construct of perceived quality is leadership. It serves as the ability of an
individual or a group of individuals to influence and guide followers or other members of
an organization. It involves making sound--and sometimes difficult--decisions; creating
and articulating a clear vision; establishing achievable goals; and providing followers
with the knowledge and tools necessary to achieve those goals. Regarding the variable,
the respondents strongly agreed that their car insurance provider is reliable. As stated by
two (2) respondents, “we take a step back to look at a fundamental capability that can
help insurers navigate the new decade, and that is through leadership.” Furthermore, the
respondents also agreed that they do not have any difficulties in finding the information
they need from their insurance provider. Mentioned by four (4) respondents, stated that
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“the art and science of leadership is to inspire people." It’s all about generating an
environment where people are compelled to engage and to achieve.” As a result, the
respondents assessed that their car insurance providers have a very high level of
leadership. As said by four (4) respondents, “the next ten years are bringing change, and
so leaders—successful leaders, high-impact leaders—over the next ten years, they need
to be skilled at change.”
2.4 Brand Loyalty

The last independent variable in its study is brand loyalty. It is when a customer
continues to purchase from your company, not because you’re the only option, but
because they trust your company. It is exhibited by the customer's repeated purchase of a
given product, despite there being other alternatives in the market. In other words, brand
loyalty is when a customer repeatedly purchases a product from only one manufacturer,
leaving out other suppliers’ brands. Brand loyalty is of value to businesses because
repeated purchases generate higher revenues as well as customer referrals. Analysis of
this variable will be done using price premium and customer satisfaction as a guide.
Table 2.4 Level of Brand Loyalty of the respondents

Very High Level of
Satisfaction 4.37 0.3363
Satisfaction
High Level of Price
Price Premium 3.71 0.3263
Premium
High Level of Brand
TOTAL 4.04 0.274
Loyalty
Given the positive ratings on satisfaction and price premium, the respondents
have a high level of brand loyalty to their current car insurance providers. Customers
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with brand loyalty perceive those certain services have superior service to other players.
Respondents from our survey express their willingness to spend more as long as they are
satisfied with the quality of services they will get from the company.
2.4.1 Price Premium

Table 2.4 Level of Price premium of the respondents
I would purchase car insurance on the next
opportunity.
It car insurance company would be my first
choice.
I will definitely purchase it car insurance
company, although its price is higher than 3.69 0.9839 Agree
other companies that offer similar benefits.
I intend to purchase from it car insurance
company and anything from the product 3.48 0.6687 Agree
category that the company belongs to.
I will not purchase from other insurance
Neither
companies if my car insurance company is 2.63 0.7350
Agree/Disagree
available.
High Level of Price
TOTAL 3.71 0.3263
Premium
A price premium relates to strategically inflating the price of your product or
service to make it higher than that of your immediate competition. It is also referred to as
image or prestige pricing. Premium pricing aims to create favorable consumer
perceptions based purely on the price. Its strategy aims to instill a sense of prestige in the
consumer by making expensive goods or services more appealing.Most people
automatically assume that a highly-priced good or service is of superior quality to a
cheaper alternative. With it, the respondents strongly agreed that if there was the next
opportunity for them, they would still be purchasing it from their car insurance provider.
Furthermore, they have also agreed that their car insurance company would be their first
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choice. In conclusion, the respondents rated their car insurance providers as having a high
level of premium.
The present finding is consistent with the reports of researchers (Kotler & Keller,
2016; Azzaddina et al., 2012) who explore the influence of product price on consumers’
purchasing decisions. Consumers consider price as a factor that improves purchasing
decisions, and it can help the company in setting prices in accordance with the products
and services, especially when it comes to fixed prices and the relative price policy. It can
be done by stating the price information clearly. This finding is also in line with Alfred's
(2013) and Amron's (2018) consumers' belief that affordable prices would strengthen
consumers' confidence in buying products or services.
2.4.1 Satisfaction
Table 2.4.1 Level of Satisfaction of the respondents
I am very satisfied with my current car
insurance.
I am likely to select the same car insurance
when purchasing a new car.
I am delighted with my experience with it
car insurance.
If it car insurance is not available, I can wait
for it without switching to another car 4.26 0.6679 Strongly Agree
insurance company.
I would recommend it car insurance to
4.18 0.5553 Agree
others.
Very High Level of
TOTAL 4.37 0.3363
Satisfaction
The other construct of brand loyalty is satisfaction. With it, the respondents have
strongly agreed that they are very satisfied with their current car insurance provider. As
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mentioned by seven (7) respondents, “longer term, it may be the catalyst to significant
adoption of usage-based insurance, which may be the only way insurers can navigate the
financial realities while still managing to engage with customers and build loyalty by
meeting their specific needs.” In addition, they also strongly agreed that when they
purchased a new car, they would still purchase insurance from the same provider. Thus,
the respondents have a very high level of satisfaction with regard to their current car
insurance provider. The interview reveals that five (5) respondents said, “It is extremely
rewarding to see the insurance industry’s exceptional work being recognized by its most
important critic." During the pandemic, the nation’s auto insurers worked non-stop to
provide relief and economic security to policyholders who had to file a claim. It is in
keeping with their role as society’s financial first responders.”
RO3: To determine the level of purchase intention of the

respondents
Table 3 Level of purchase intention of the respondents
If I plan to purchase a car, I intend to
4.18 0.6264 Agree
repurchase it from its insurance company
I intend to purchase it car insurance again
4.09 0.6057 Agree
than others.
I intend to get car insurance from it
4.07 0.3633 Agree
company.
I would like to purchase it car insurance
4.07 0.6028 Agree
again.
If I have an opportunity, I would suggest my
relatives, friends, or acquaintances purchase 3.57 0.8654 Agree
car insurance.
High Level of
TOTAL 4.00 0.4321
Purchase Intention
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The dependent variable of its study is purchase intention. The willingness of a
customer to buy a certain product or a certain service. Purchase intention is a dependent
variable that depends on several external and internal factors. Purchase intentions are a
measure of the respondent’s attitude toward purchasing a product or availing of a service.
The intent of a customer can make it very easy to iterate what kind of content should be
displayed in an advertisement. Intentions can reflect information about the knowledge
levels of the consumer’s mind. On the basis of its measurement, the design of marketing
activities can be formed. As assessed by the respondents, they agreed that they intend to
repurchase from the same car insurance company if they plan to purchase a new car. In
addition, the respondents also agreed that they intend to purchase the same type of car
insurance as others. Hence, it can be concluded that the respondents have a high level of
purchase intention when it comes to car insurance. It implies that consumer purchase
intentions represent consumers' perceptions of the brand. Moreover, it states what image
the product or service possesses in the customer’s mind. It is necessary for the brand to
maintain a positive and favorable image of the brand throughout the engagement of
customers to attain the organization's success.
RO4: To determine the effect of brand awareness on the purchase

intention of the respondents
Model Summary
Adjusted R Std. Error of
Model R R Square Square the Estimate
1 .102a .010 .008 .43035
a. Predictors: (Constant), Brand Awareness
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The table above shows that brand awareness has a weak correlation with purchase
intention. It is based on the R Score of 0.102. According to a respondent, the reason why
there is a weak correlation between brand awareness and purchase intention is that most
of the car agents set their specific car insurance, not the owners. In addition, brand
awareness will only be able to predict 1% of purchase intention, as shown in the R
Square of 0.010. Hence, there are several other factors that will be able to predict
purchase intention.
The fact that the brand is known gives consumers a lot of chances to act and think
in a positive way, just like the other dimensions of CBBE (Grewal et al., 1998; Pappu &
Quester, 2016; Foroudi et al., 2018): quality perception, brand associations, and brand
loyalty.When consumers are more aware of a brand, they are more confident and able to
become loyal to that brand, whereas brands with a low level of awareness may find it
harder to penetrate the market (Keller, 1993). Brand recognition is seen as a precursor to
brand loyalty (Keller, 1993; Pappu & Quester, 2016). Empirical studies by authors in
different fields, like cosmetics (Chinomona & Maziriri, 2017), hospitality (Xu, Li, &
Zhou, 2015), and smartphones (Jing, Pitsaphol, & Shabbir, 2014), showed a positive link
between brand awareness and brand loyalty.
ANOVA
Sum of
Model Squares df Mean Square F Sig.
1 Regression .845 1 .845 4.565 .033b
Residual 80.749 436 .185
Total 81.594 437
a. Dependent Variable: Purchase Intention
b. Predictors: (Constant), Brand Awareness
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According to the table above, the model is a good predictor for hypothesis testing
in its study at a.033 significance level or a 95% confidence level.
Coefficients
Standardized
Unstandardized Coefficients Coefficients
Model B Std. Error Beta t Sig.
1 (Constant) 3.430 .266 12.898 .000
Brand Awareness .138 .065 .102 2.137 .033
Both constant and brand awareness have a significant effect on purchase intention
based on their significance scores. Brand awareness has a significant effect on purchase
intention at a 95% confidence level. With it, the researcher was able to formulate the
regression equation below:
Purchase Intention=3.430Constant +.138 Brand Awareness
The regression equation shows that brand awareness has a significant positive
effect on purchase intention. The coefficient means that a unit increase in brand
awareness will result in a.138 increase in purchase intention. According to the
respondents, brand awareness refers to being familiar with the company's services, and
the familiarity will lead them to avail their product.
Consumer behaviors may shed light on where opportunities exist but need to
provide richer insights into what it takes to actually win share. While the need for a
strong brand is the most potent differentiator across consumer segments, other important
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factors include the propensity to shop, preference for a personal relationship, and access
to a local agent. Low price, it turns out, is a more modest differentiator (McKinsey &
Company, 2013).
RO5: To determine the effect of brand association on the purchase

Model Summary
1 .191 a
.036 .032 .42514
a. Predictors: (Constant), Perceived Value, Brand Personality
The effect of brand association on purchase intention is assessed using both
perceived value and brand personality. These two variables showed a weak correlation to
purchase intention, as shown by the R Score of.191. One of the respondents says that
brand association, which is perceived value and brand personality, shows a weak
correlation to intentions because most car agents are the ones who choose their car
insurance, especially when the transaction of car purchase will be under inhouse and bank
finance. As such, these constructs of brand association may only predict 3.6% of
purchase intention based on the.036 R Square. Hence, it may be concluded that there are
other predictors for purchase intention.
In Pakistan, it is evident that the purchase of cars has reached its highest level, so
that also explains the behavior of Pakistani consumers towards automobiles. The impact
of price, brand, and store information on consumers’ judgments about the product quality
and their willingness to buy was assessed (Dodds et al., 1991). Consumers are influenced
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by word-of-mouth communications and make purchase decisions. The study on e-word
(electronic-word) of mouth was conducted to examine its influence on brand image and
purchase intentions (Jalilvand et al., 2012). On the other hand, Sadiq and Gokhan (2010)
analyzed the variables, i.e., country of origin and the critical function of the country of
origin, and assessed their impact on the consumers’ automobile purchase decisions. The
variables used in his study were price, quality requirements of the product, risk, and
social factors.
ANOVA
Sum of
1 Regression 2.969 2 1.485 8.214 .000b
Residual 78.625 435 .181
Total 81.594 437
b. Predictors: (Constant), Perceived Value, Brand Personality
Even though the variables have a weak correlation with purchase intention, the
model may still be considered a good indicator for hypothesis testing. It is based on a
significance level of.000 or 99% confidence level.
Coefficients
Standardized
1 (Constant) 2.723 .320 8.508 .000
Perceived Value .181 .060 .149 3.025 .003
Brand Personality .101 .059 .084 1.710 .088
By assessing the significance of the variables’ coefficients, the table above shows
that perceived value has a significant effect on purchase intention at a 99% confidence
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level, while brand personality has a significant effect at a 90% confidence level. Thus, the
researcher was able to formulate the regression equation below:
Purchase Intention=2.723Constant +.181Perceived Value +.101 Brand Personality
The equation shows that both perceived value and brand personality have a
significant positive effect on purchase intention. In the case of perceived value, every unit
increase in its variable results in a.181 increase in purchase intention.On the other hand, a
unit increase in brand personality will result in a.101 increase in purchase intention. One
respondent says he purchased his car insurance from a certain company because of its
brand personality. This car insurance company shows that their services are fast and
reliable, especially during accident insurance claims.
The variables attitude, subjective norms, perceived ease of use, and perceived risk
were analyzed to identify their impact on purchase intentions (Altaf and Hashmi, 2016).
It has also identified and assessed the key variables that have a significant impact on the
purchase intentions of passenger cars among consumers in Pakistan. The variables of
their study were the product, price, and after-sale service. Consequently, Sajjad and Butt
(2012) investigated Aaker’s consumer-based brand equity model and expanded it. The
independent variables used in the study were brand association, brand product quality,
brand loyalty, and after-sale service. Another study inculcated country image, product
quality, and brand familiarity as independent variables in the study (Yunusa et al., 2016).
Another research (Yasin and Shamim, 2013) showed that brand experience, brand trust,
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and affective commitment influence purchase intentions. Moreover, in other research, the
mediating role of product judgments has also been tested before, along with consumer
ethnocentrism and animosity as independent variables (Ferrin et al., 2015). Another study
investigated the effect of attitude, social pressure, perceived behavior control, and
perceived self-identity on purchase intention (Tan, 2013).
RO6: To determine the effect of perceived quality on the purchase

Model Summary
1 .387 a
.150 .146 .39934
a. Predictors: (Constant), Leadership, Product Quality
As for perceived quality, leadership and product quality were the constructs used
to assess it. Based on the results, leadership and product quality have a moderate
correlation with purchase intention. It is based on the R Score of.387. Respondent states
that they will always choose the product of the industry's leader and superior. On the
other hand, the above constructs can predict 15% of people's plans to buy.
According to Davis et al. (2003), perceived quality is directly related to the
reputation of the firm that manufactures the product. However, the National Quality
Research Center (NQRC) (1995) defined perceived quality as the degree to which a
product or service provides key customer requirements (customization) and how reliably
these requirements are delivered (reliability). At the same time, Aaker (1991) and
Zeithaml (1988a) said that perceived quality is not the actual quality of brands or
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products. Rather, it is the consumers’ judgment about entities or a service’s overall
excellence or superiority.
Consumers often judge the quality of a product or service on the basis of a variety
of informational cues that they associate with the product. Some of these cues are
intrinsic to the products, whereas others are extrinsic. As defined by Zeithaml (1988b),
cues that are intrinsic concern the physical characteristics of the products themselves,
such as product performance, features, reliability, conformance, durability, serviceability,
and aesthetics. On the other hand, extrinsic attributes are the cues that are external to the
products themselves, such as price, brand name, brand image, company reputation,
manufacturer’s image, retail store image, and the country of origin. Perceived quality has
a direct impact on customer purchase decisions and brand loyalty, especially during the
time when customers have little or no information about the products that they are going
to purchase (Aaker, 1991; Armstrong and Kotler, 2003).
ANOVA
Sum of
1 Regression 12.225 2 6.112 38.330 .000b
Residual 69.369 435 .159
Total 81.594 437
b. Predictors: (Constant), Leadership, Product Quality
With a moderate correlation, the ANOVA for these variables was also computed
by the researcher. As a result, it shows a significance level of.000, which means that the
model is a good indicator for hypothesis testing at a 99% confidence level.
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Coefficients
Standardized
1 (Constant) .959 .354 2.707 .007
Product Quality .473 .070 .315 6.767 .000
Leadership .215 .067 .149 3.197 .001
The table above shows that both product quality and leadership have a significant
effect on purchase intention at a 99% confidence level. With this information, the
researcher was able to come up with a regression equation that showed what effect these
variables had.
Purchase Intention=.959Constant +.473 Product Quality +.215Leadership
The equation shows that both product quality and leadership have a significant
positive effect on purchase intention. A unit increase in product quality will result in
a.473 increase in purchase intention. On the other hand, a 1% increase in leadership will
lead to a.215 increase in purchase intention.
RO7: To determine the effect of brand loyalty on the purchase

Model Summary
1 .274a .075 .071 .41656
a. Predictors: (Constant), Satisfaction, Price Premium
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Lastly, brand loyalty was analyzed using its constructs, which are satisfaction and
price premium. Based on the results of Pearson Correlation, these constructs have a weak
correlation between purchasing intention and R Score, as shown by the R Score of.274.
In reality, choosing car insurance depends on the car's dealer. Most car brand dealers, like
choosing Toyota, already have a partner insurance company with which they lock their
clients to purchase. The correlation also shows that only 7.5% of purchase intention may
be predicted by satisfaction and price premium.
If consumers have heard of a brand at some point and have even had indirect
experiences with it, the possibilities of generating brand associations emerge (Chan,
Boksem & Smidts, 2018). Thus, after consumers are aware of the brand, some images
and perceptions of the brand can rise in consumers’ minds (Tariq, Abbas, Abrar, & Iqbal,
2017). According to Shafiri (2014), brand awareness has a direct link with cognitive
thinking and cognition, which can be considered dimensions of brand associations. Pitta
& Katsanis (1995) argue that brand awareness allows brand and product associations to
be built and incorporated into consumer memory. There is evidence of the connection
between awareness and brand associations in which the former precedes the latter
(Keller, 1993; Dew & Kwon, 2010; Foroudi et al., 2018).
ANOVA
Sum of
1 Regression 6.112 2 3.056 17.611 .000b
Residual 75.482 435 .174
Total 81.594 437
b. Predictors: (Constant), Satisfaction, Price Premium
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Despite the weak correlation among the variables, the model is still a good
indicator for hypothesis testing of its study. It is based on a significance level of.000,
which translates to a 99% confidence level.
Coefficients
Standardized
1 (Constant) 2.269 .296 7.675 .000
Price Premium .130 .066 .098 1.978 .049
Satisfaction .285 .064 .222 4.477 .000
As for the coefficients, both price premium and satisfaction have a significant
effect on purchase intention. A price premium has an effect on purchase intention that is
significant at a 95% confidence level. On the other hand, 99% of the time, satisfaction
has a big effect on whether or not someone plans to buy.
Purchase Intention=2.269Constant +.130 Price Premium +.285Satisfaction
Specifying the effects of each variable, the regression equation presented above
shows that both price premium and satisfaction have a significant effect on purchase
intention. A unit increase in price premium will result in a.130 increase in purchase
intention. At the same time, a unit increase in satisfaction will result in a.285 increase in
purchase intention.
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RO8: To determine the effect of brand equity on the purchase

The research also aimed to establish the relationship between brand equity and
purchase intention. To accomplish this, the researcher used both multiple linear
regression and simple linear regression.
A. Multiple Linear Regression
Model Summary
1 .392a .152 .146 .39927
a. Predictors: (Constant), Brand Loyalty, Brand Awareness,
Brand Association, Perceived Quality
As for the multiple linear regression, the different constructs of brand equity –
brand loyalty, brand awareness, brand association, and perceived quality – have a
moderate correlation with purchasing intention. It is based on the R Score of.392. These
constructs may only predict 15.2% of purchase intent with it.Hence, it can be concluded
that there are other predictors of purchase intention that are not included in the study.
Most car insurance companies have a partnership with a specific car dealer and car agent
where they give certain commissions on every car insurance policy. They will sell,
forcing all car buyers to use the insurance company with which they have already
contracted.
In turn, brand associations may have a significant impact on consumer buying
behavior (French & Smith, 2013) since associations generate value in different ways,
such as helping to process and find information, establishing brand differentiation and
positioning, and creating positive feelings about the brand (Dew & Kwon, 2010; Jyothsna
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et al., 2016). Paço, Rodrigues, and Rodrigues (2015) argue that some specific positive
dimensions of brand association, such as utility and affect, impact consumer purchase
intention.
ANOVA
Sum of
1 Regression 12.568 4 3.142 19.710 .000b
Residual 69.026 433 .159
Total 81.594 437
b. Predictors: (Constant), Brand Loyalty, Brand Awareness, Brand Association,
Perceived Quality
Using the MLR, the model is considered to be a good indicator for hypothesis
testing of its study at a.000 significance level or at a 99% confidence level.
Coefficients
Standardized
1 (Constant) .709 .421 1.684 .093
Brand Awareness .005 .063 .004 .087 .931
Brand Association -.062 .081 -.041 -.758 .449
Perceived Quality .616 .103 .338 5.978 .000
Brand Loyalty .209 .077 .132 2.694 .007
Among the different constructs of brand equity, only perceived quality and brand
loyalty have a significant effect on purchase intention. The effects of these variables are
significant at a 99% confidence level. On the other hand, brand awareness and brand
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association do not have a significant effect on purchase intention. Hence, the researcher
was able to prepare a regression equation regarding these findings.
Purchase Intention=.709Constant +.616 Perceived Quality +.209 Brand Loyalty
The regression equation showed that both perceived quality and brand loyalty
have a significant positive effect on purchase intention. A unit increase in perceived
quality will result in a.616 increase in purchase intention. In addition, a unit increase in
brand loyalty will result in a.209 increase in purchase intention. Most of the respondents
say that they are willing to spend more on a top-notch car insurance company that can
offer a higher level of customer service.
Quality perception enables consumers to reduce their uncertainty in decision-
making. The fact that one brand has higher quality than others makes the purchase risk
lower, and it increases the expectation of satisfaction when using the product (Calvo-
Porral & Lévy-Mangin, 2017). In addition, perceived quality also allows organizations to
make use of premium pricing. That is, they can apply a higher price in relation to the
market without having a disadvantage in competing with competitors (Kim & Kim,
2005). Also, a higher perception of quality is related to a positive effect on brand value
(Wang, 2017). Thus, it might improve consumers' purchase intention (Petrick, 2004).
B. Simple Linear Regression
Model Summary
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1 .318a .101 .099 .41020

a. Predictors: (Constant), Brand Equity
The researcher also treated brand equity as a single variable. By doing so, it
showed that brand equity still has a moderate correlation with purchase intention.
Furthermore, brand equity can predict only 10.1% of purchase intentions.One respondent
stated that he transferred to another car insurance company because they offered more
flexible terms of payment than his previous insurance provider, thus making it another
variable that could affect purchase intention.
ANOVA
Sum of
1 Regression 8.231 1 8.231 48.920 .000b
Residual 73.363 436 .168
Total 81.594 437
b. Predictors: (Constant), Brand Equity
Just like the result of the MLR, its model is also a good indicator when it comes to
hypothesis testing of its study at a.000 significance level or at a 99% confidence level.
Coefficients
Standardized
1 (Constant) 1.003 .428 2.342 .020
Brand Equity .703 .100 .318 6.994 .000
Treating brand equity as a single variable resulted in it having a significant effect
on purchase intention. It is based on a significance score of.000 or equal to a 99%
confidence level.
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Purhcase Intention=1.003Constant +.703 Brand Equity
The equation above shows that brand equity has a significant positive effect on
purchase intention. A unit increase in brand equity will result in a.703 increase in
purchase intention. Most of the interviewed respondents say that the prime element of
their purchase intention is its brand equity. The value of service they see in the car
insurance company depends on how reliable the company is, especially during accident
claims.
RO9: To determine the effect of brand equity on the purchase

intention of the respondents as moderated by their demographic
profile
Model Summary
1 .334a .112 .101 .40963
a. Predictors: (Constant), Monthly Household Income,
Gender, Age, Highest Educational Attainment, Brand Equity
The last objective of its research is to measure the moderating effect of the
demographic profile of the respondents on the relationship between brand equity and
purchase intention. Based on the results, brand equity and the demographic profile of the
respondents have a moderate correlation with purchase intention. As such, 11.2% of
purchase intention may be predicted by these variables. One respondent states that his
purchase intention depends on the economic factors, especially now that we have a low
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economy where prices of all basic commodities increase. As per him, instead of
purchasing car insurance, he will just allocate it to buying their needs like food.
ANOVA
Sum of
1 Regression 9.105 5 1.821 10.852 .000b
Residual 72.489 432 .168
Total 81.594 437
b. Predictors: (Constant), Monthly Household Income, Gender, Age, Highest
Educational Attainment, Brand Equity
Like the other models in its study, its model is also a good indicator for
hypothesis testing. It is based on the ANOVA’s significance score of.000, which is
translated to a 99% confidence level.
Coefficients
Standardized
1 (Constant) 1.229 .445 2.763 .006
Brand Equity .698 .101 .315 6.924 .000
Age -.007 .008 -.040 -.879 .380
Gender -.022 .039 -.025 -.554 .580
Highest Educational -.037 .020 -.084 -1.828 .068
Attainment
Monthly Household -.004 .016 -.012 -.253 .800
Income
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Among the different demographic variables, only the highest educational
attainment showed a significant effect on purchase intention. It has a significant effect at
a.068 significance level, which corresponds to a 90% confidence level.
Purhcase Intention=1.229Constant +.698 Brand Equity −.037Highest Educational Attainment
Based on the formulated regression equation, brand equity still has a significant
positive effect on purchase intention. A unit increase in brand equity will result in a.698
increase in purchase intention. On the other hand, the highest educational attainment has
a significant negative effect on purchase intention. A unit increase in the highest
education attainment will result in a.037 decrease in purchase intention. According to one
of our respondents, who has a doctorate degree, if the bank that finances his car loan
doesn’t require him to get car insurance, he will not purchase it because he has never had
a claim on the car insurance of his two cars until the date of expiration because he has
never been in an accident.
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CHAPTER 5
SUMMARY, CONCLUSIONS, AND RECOMMENDATIONS
The chapter presents and discusses the summary of findings, conclusions, and
recommendations of the study.
Summary of Findings
The demographics moderate brand equity's impact on purchasing intent. Age and
gender demographics were studied. Brand equity affects purchasing intention, with 25–
54-year-olds being more sensitive. They can afford car insurance because they're salaried.
Respondents said that the trustworthiness of the brand, the value of the service, and the
reliability of the accident claim affected their decisions to buy.
The regression equation says brand equity impacts purchase intent. Brand equity
increases buying intent, whereas education reduces purchase intent. Women's increased
accident risk influenced buying intent more than men's. The group with high brand equity
is more sensitive to brands than the group with low brand equity because most of the
people in the high brand equity group said they had high brand awareness, brand
association, brand loyalty, brand equity, and purchase intention.
Demographics can affect ad outcomes for insurers. When consumers know and
like a brand, they are more likely to buy car insurance. The poor brand image leads to
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fewer purchases, reduced prices, and price-sensitive consumers. Most consumers would
pay extra for a new car insurance brand with similar advantages. The more a company
promotes, the more customers it gets. Equity helps parties negotiate and price by
establishing trust. Insurance companies develop their market through advertising.
Contextualizing the findings into the current state of the car insurance industry in
the Philippines, the prevalence of brand equity is high. However, the potential for brand
equity to be a better predictor of purchase intention varied substantially across
demographic groups. It is important for brands to identify which demographics to target
and which to ignore.
The insurance companies should capture the youth market. People over 50 years
old are relatively more price-sensitive than younger ones. The car insurance market
should not ignore female drivers. They tend to buy more car insurance than males, but
they are less sensitive to brands than men. Men of all ages should be targeted as they tend
to buy more car insurance than women.
In addition, insurance companies should develop brand equity conversion
programs. They should include car and accident claim information to increase the use of
brand-related products and services. They should help people compare the price of their
insurance by linking the different carriers' rates.
Therefore, companies should develop brand equity conversion programs to help
create connections with consumers. It can be done through information sharing about the
plans that are available to consumers. The information is then used to create brand equity,
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which can be an important factor in influencing the decisions of the customers, thus
improving customer satisfaction and loyalty in the car insurance market.
Conclusions
In light of the findings of the study, the researcher was able to answer the question
of the study: “What is the effect of brand equity on the purchase intention of car
insurance customers in Metro Manila as moderated by the demographic profile of the
respondents?” The following conclusions were drawn based on the findings of the study:
TABLE OF SUMMARY AND CONCLUSION
Research Questions Findings
What is the demographic profile of the
respondents in terms of?
1.1 Age 1.1 Age - 21.46% belong to the 25-20 age
group.
1.2 Gender 1.2 Gender: The majority is female, which
has 54.57% of the total respondents.
1.3 Educational attainment - 65.53% of
1.3 Highest educational attainment the respondents have a bachelor’s degree.
1.4 Monthly household income: 35.62%
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of the respondents earn PHP 23,381-PHP
1.4 Monthly household income 46,761.
1.5 Car insurance brand ownership: The
majority of the respondents own
1.5 Car insurance brand ownership Prudential Guarantee and Assurance, Inc.,
which comprises 17.81% of the total
respondents.
2. What is the level of brand equity of the The respondents have a very high level of
respondents? brand equity. As per (3) of the
respondents, they have very high brand
equity in their insurance company since
they only know a few companies in the
market and they have already experienced
good services from it.
3. What is the level of brand awareness of The respondents have a high level of
the respondents? brand awareness. Most of the respondent’s
state that their insurance company comes
first in their mind because that brand has
been in the industry for a long time and
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they know that the company is committed
to customer satisfaction.
The respondents have a very high level of
4. What is the level of brand association perceived value and a very high level of
of the respondents in terms of perceived brand personality. Four of the respondents
value and brand personality? strongly agreed that whatever they get
from their insurance provider is worth the
cost, and the framework of the
organization views the quality of service
and product they have.
5. What is the level of perceived quality product quality and a very high level of
of the respondents in terms of product leadership. One of the respondents said his
quality and leadership? insurance company was one of the
pioneers. That makes them one of the
leaders, and being in the market for so
long proved that the quality of service to
their consumers was impeccable.
The respondents have a high level of price
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6. What is the level of brand loyalty of the premium and a very high level of
respondents in terms of price premium satisfaction. Five of the respondents stated
and satisfaction? that they're loyal to the company because
they are satisfied with the product and
service and are willing to pay a higher
price.
7. What is the level of purchase intention purchase intention. Most of the
of the respondents? respondents agreed that they have a very
high level of purchase intention because
they value their cars, and it is required
when you apply for a financial loan to
purchase your car.
In the regression equation, brand
8. What is the effect of brand awareness awareness positively significantly affects
on the purchase intention of the purchase intent. One unit of brand
respondents? awareness increases purchase intention by
138. Brand awareness is knowing the
company's offerings, which leads them to
buy their product.
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Both perceived value and brand
personality positively affect purchasing
9. What is the effect of brand association intention. Increasing perceived value by 1
on the purchase intention of the unit increases buying intention by.181.
respondents? One unit of brand personality increases
purchase intention by.101. One
respondent said that he bought his car
insurance from that company because
their brand shows that they will help with
claims quickly and reliably.
When it comes to purchasing intent, the
equation shows that both product quality
and leadership play an important role. For

10. What is the effect of perceived quality
every unit of product quality
on the purchase intention of the
improvement, there is a.473 increase in
respondents?
purchase intention.
The regression equation shown above
illustrates that both price premium and
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customer satisfaction have a considerable
11. What is the effect of brand loyalty on impact on purchase intention. There will
the purchase intention of the respondents? be a.130 increase in intention if the price
premium rises by one unit. At the same
time, a.285 rise in purchase intention
results from an improvement in
satisfaction per unit.
The equation illustrates that brand equity
increases purchasing intent. An increase in
brand equity increases purchase intention
by.703 units. The respondents said their

12. What is the effect of brand equity on
purchase intention is based on the vehicle
the purchase intention of the respondents?
insurance company's brand equity, service
value, and reliability during accident
claims.
According to the regression equation,
brand equity still affects purchase
intention. An increase in brand equity

13. What is the effect of brand equity on increases purchase intention by 698. The
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the purchase intention of the respondents highest educational attainment has a
as moderated by their demographic negative effect on buying intention. An
profile? increase in the highest education
attainment decreases buying intention
by.037.
The demographic profile of the respondents moderates the effect of brand equity on
purchase intention. Based on the results gathered, the majority of the car insurance
holders in Metro Manila are females from the age bracket of 25 to 29 years old. The
interconnection between the gender and the age of the car insurance holders and its effect
on brand equity and their purchase intention is that brand equity may differ among males
and females due to the awareness and interest in car insurance among the younger
generation. The younger generation is more interested in "new things" and, thus, has a
higher inclination toward alternative insurance options. On the other hand, females are
usually more brand-aware than males. They would rather choose products that are known
to them or have been tried by them before. Further, the majority of car insurance holders
are degree holders and earn between 23 and 46, 761 PHP. The interconnection between
the educational attainment and monthly income of the car insurance holders and its effect
on brand equity and purchase intention is that the car insurance holders with higher
monthly income are more willing to buy an insurance product that is innovative and
created by a company that they have confidence in. The insurance product should also be
aligned with their socioeconomic and cultural backgrounds. These individuals usually
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Metro Manila
have short-term goals. As a result, they place a premium on convenience in terms of
insurance coverage, particularly when renting cars. Their other priorities are mainly
regarding value for money as well as the quality of services, among others.
Considering that most respondents have a high level of brand awareness, brand
association, brand loyalty, brand equity, and purchase intention, it is evident that there is
a difference between the two groups, the high and low brand equity groups, with the high
brand equity group being more sensitive to brands than their counterparts in the low
brand equity group. In this regard, advertisers of car insurance products should be aware
of demographic variables that may affect advertising outcomes. Further, it implies that a
consumer's purchase intention for car insurance is higher if they have a higher level of
awareness and association with the car insurance brand. Its effects are higher when it
comes to low or high equity. A poor brand image will result in consumers making fewer
purchases, those made at lower prices, and those made tend to be more price sensitive
than customers with a positive brand image.
The importance of equity is a well-known issue in the insurance industry. Most of the
populace would pay more for a new brand offering the same benefits as their current
insurer, which is true of car insurance. The more a company invests in advertising its
brand, the more customers will be attracted to it. The equity provides an attractive image
to potential customers and creates trust between the two parties, which may help
negotiate and price. Every time an insurance company advertises, it can reach out to more
people and expand its market potential.
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Therefore, the findings of its study lead to a better understanding of the car insurance
market and its various aspects. An insurance company's performance can be improved to
increase the number of customers who choose to purchase their policies.
Recommendations
According to research results, brand loyalty is a factor affecting consumers' intention
to avail of services. Therefore, producers need to have a medium and long-term
production plan to create qualified services. In particular, manufacturers need to regularly
investigate and design services to meet the expectations of customers. In addition, car
insurers should pay attention to the issue of “competitive prices” in order to increase the
buying intentions of consumers.
Companies should promote the element of brand awareness (BA) through a
combination of tools such as advertising, direct sales, promotions, and public relations
(PR) activities to convey information and sales promotion. It is especially important to
promote activities such as sponsoring events, conferences, sports, and environmental
protection in order to increase brand recognition and create a positive attitude among
consumers toward their brands. For many new cars approaching the Philippine market,
together with advertising the brand-new cars of the company, it is necessary to promote
the brand identity of the automaker.
The value of self-expression of products to consumers should be increased, such as by
creating a brand that is consistent with the characteristics of consumers for each age
group and personalities of each customer group in order to attract more consumers than
other brands. Companies need to emphasize the specificity, advantages of design, quality,
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technological advantages, fuel saving, etc., to enhance the brand associations and
perceived quality factors for consumers. Moreover, the infrastructure system in the
Philippines is still limited compared to many developing countries, so consumers pay
attention to the maintenance system of manufacturers. Companies should also put a lot of
effort into creating a warranty and customer support service to improve the quality factor.
The researcher proposed conducting similar research in a different region and
conducting additional research studies.The researcher suggests that if further researchers
have enough time and budget, they are able to use qualitative research methods such as
interviews to gain deep information, experiences, feelings, and knowledge from the
respondent. It is this way that it is able to reduce biases in research results and help the
researcher analyze information precisely.
Strategic Recommendations
Findings Recommend Action Person Involved
Most of the people who answered say The insurance firm should consider The Director of
they are loyal customers of the directly communicating with the Marketing,
insurance company, which has a mean respondents and thanking them for Operations, and
score of 4.10. This is because the their loyalty. They could also Customer Service
company has been in the business for a award loyalty points to every needs to come up
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long time and is committed to customer who renews their policies with and carry out
customer satisfaction. every year. a big-picture plan.
With a mean of 4.48 (product quality) The insurance firms should come The research team
and 4.29 (leadership), the respondents up with a survey asking what would need to set
considered the price they paid for a factors influence the price of their up another survey
product or service. They almost always services to their customers. A and conduct it in-
consider their own insurance. survey would help them determine house to see what
the best ways to communicate with values customers
their customers, such as through consider when
pamphlets, website banners, and buying insurance.
TV commercials at the right time.
With mean scores of 4.53 for The insurance company should The Directors of
perceived value and 4.48 for brand think about throwing a customer Marketing,
personality, respondents are happy to appreciation party as soon as Operations, and
have a vehicle insurance policy from possible to give customers different Customer Service
their provider. This makes the services incentives to keep coming back. will be
more important to the consumer and responsible for
makes the consumer synonymous with planning and
the services. hosting the event
with their unique
ideas.
With a mean of 3.71 (price premium) If the insurance firm has a large The Director of
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and 4.37 (satisfaction), the respondents customer base, it can consider Marketing and
are willing to pay more because they offering a percentage discount to its Client Services
are satisfied with the goods and customers who refer someone to will be
services they receive from the their products and services. responsible for
business. communicating
with the
customers and
informing them of
the procedures of
the program.
With a very high level of equity, The insurance firm should consider The Director of
having a mean of 4.26, respondents hiring a marketing consultant and Client Services
responded that their insurance produce a position paper that and Marketing
company has high brand equity since outlines the future challenges the can work together
they only know a few other companies firm is going to face in the market. to come up with
in the market and have had only ways to stay
positive experiences with them. ahead of the
competition.
Respondents agreed that they had a The insurance company might want The Director of
very high level of purchase intention, to tell their customers about the Client Services
with a mean of 4.00. This is because benefits of getting car insurance and Marketing
they care about their cars, and a high from them before they get loans to Department will
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level of purchase intention is required buy cars. need to be
when you apply for a loan to buy your informed of the
car. initiative so they
can implement it
quickly.
Brand loyalty, brand awareness, brand The insurance firms should The Director of
association, and perceived quality had consider breaking off their Marketing,
a moderate link to purchase intention partnership with car dealers and Customer
in multiple linear regression (R start directly communicating with Service, and
Score=.392). Thus, most car insurance their customers. It will cost the firm Operations should
companies had partnerships with commissions at first, but in the be in charge of
specific car dealers and car agents long run, they will have a loyal talking to
where they gave commissions on customer base. customers about
every vehicle insurance they sold, thus the strategy.
making car dealers and agents enforce
all car customers to the certain
insurance company they had
previously linked up with.
Brand awareness and buying intent are The insurance firm should consider A research team
unrelated (R score:.102). Brand designing an experiment to focus would need to be
knowledge and purchase intention on brand awareness and purchase established to
have a minimal association because intention of vehicle brokers. The conduct
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vehicle brokers establish car insurance, company could just make ads to experiments and
not owners. Brand awareness can find out what works best for getting design ads.
barely predict 1% of purchasing in touch with vehicle brokers.
intention (.010 R Square). Several
factors can indicate buying intent.
Perceived value and brand personality The insurance firm needs to The Director of
are used to measure brand association consider that auto agents are the Marketing and
and purchase intent. The R Score for peripheral agents who are also Operations
these two variables was 1. 192. The going to be aware of other channels department will
brand association has a minimal which can help them interact with need to work
correlation to intention because most consumers. together with the
auto agents choose their own car client services
insurance, especially when the department.
transaction is under in-house or bank
finance.
Perceived quality was measured by The insurance firm needs to The Director of
leadership and product quality. consider that they do not really Marketing and
Leadership and product quality have any competitors in the market. Client Services
correlate moderately with purchasing will need to work
intent (R score:.387). The respondents together to
always prefer the industry leader's conduct a survey
product. of the auto dealers
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and ask them if
they know of any
other firms.
Satisfaction and price premium were The insurance firm needs to The Director of
used to analyze brand loyalty. The R consider that auto dealers often the Marketing and
score between these components and have products of their own and can Client Services
buying intention is.274. Hence, most choose their own insurance firms. department will
vehicle dealers, like Toyota, have a need to create a
partner insurance firm that ties their survey of the auto
clients into buying. dealers and ask
them if they have
any other
partners.
Purchase intention is moderately The insurance firm needs to The Director of
correlated with brand equity and consider that the economy is still Marketing and
respondent demographics. These good, so buying car insurance Operations
characteristics predict 11.2% of would not hurt. There are other department would
purchasing intent. Purchase intention things that people buy when the need to create a
depends on the economy, especially economy is not good, like food. survey for the
now that basic commodity costs are consumer so they
rising. Instead of buying car insurance, can ask them if
most people most likely buy food. they bought car
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insurance in hard
economic times
and which firm
they preferred.
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Questionnaire
Good day! I am John Paul G. Cosculla, 2nd Year MSc student from the University of
Asia and the Pacific (UA&P). I am currently conducting a survey on “The effect of
brand equity on the purchase intention of car insurance customers.” In line with it, I
would like to seek your help and support by answering a short survey. Rest assured that
all answers and information that will be gathered will be treated with the utmost
confidentiality and for its academic purpose alone.
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All the information gathered and provided will be for the purposes of my study only, and
all of the information provided shall be treated with the utmost confidentiality, in
compliance with the Data Privacy Act of 2012. Your participation in the survey is
completely voluntary. Continuing with its survey shall mean that you have given us your
consent to use the information you have provided for the sole purpose of its study.
I understand that my personal information is protected by RA10173, Data Privacy Act of

2012 and that I am required to provide truthful information.
a. Yes, I agree and give consent. Proceed to answer the survey form
b. No, I do not agree, and I do not give my consent. Decline to answer the survey
form. (End of Survey)
Direction: Please fill the blanks with the needed information or put a check (✔) mark on
the space before the item that corresponds to your appropriate answer.
Part 1 - Demographic Profile
Name (Optional):_______________________________________
1. Age of the respondents (PSA 2020)
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____19 below
____20 - 24
____25 - 29
____30 - 34
____35 - 39
____40 - 44
____45 - 49
____50 - 54
____55 - 59
____60 above
2. Gender
____ Male
____ Female
3. Highest educational attainment (PSCED 2017)
____ Highschool Undergraduate

____ Highschool Graduate
____ Vocational Courses
____ Bachelor’s degree
____ Masteral degree
____ Doctoral degree
4. Monthly household Income (FIES 2018)
_____ Less the PHP 11,690

_____ Between PHP 11,690 – PHP 23,381
_____ Between PHP 23,381 – PHP 46,761
_____ Between PHP 46,761 – PHP 81,832
_____ Between PHP 81,832 – PHP 140,284
_____ Between PHP 140,284 – PHP 233,806
_____ At least PHP 233,807
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5. Do you own car insurance? Yes or No. If yes, please specify.
Alpha Insurance & Surety Bethel General Insurance and Charter Ping An Insurance
company inc. Surety Corporation Corporation
Cibeles Insurance Commonwealth Insurance Corporate Guarantee and

Corporation Company Insurance
Country Bankers Insurance Empire Insurance company FPG Insurance

Corporation
Fortune General Insurance Intra-Strata Assurance Malayan Insurance Company

Corporation
MAPFRE Insular Insurance Mercantile Insurance Milestone Guaranty and

Corporation Corporation Assurance Corp.
New India Assurance Oriental Assurance Pacific Union Insurance

Corporation Company
Paramount Life and General Perla Insurance Philippine British Assurance

Insurance Corporation Company
Pioneer Insurance and Surety PNB General Insurers Co. Prudential Guarantee and
Corporation Assurance, Inc.
BE Seaboard Insurance SGI Philippines General Standard Insurance

Insurance Co. Inc.
Sterling Insurance Company Stronghold Insurance UCPB General Insurance

Inc. Company, Inc. Company
Western Guaranty Others, please specify.

Corporation
_____________________
Part II: Brand Equity
Direction: Please answer each item and put a check (✔) mark on the box that best reflects
your level of agreement or disagreement with the statement.
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Neither
Brand Equity Components Strongly Disagree Agree Agree Strongly
Disagree or Agree
Disagree
Brand Awareness: Awareness
I can recognize some characteristics

of my insurance company.
I can differentiate my insurance

company from others.
My insurance company comes up

first in my mind when I want to
purchase car insurance.
When I see an advertisement about

car insurance, I always think of my
car insurance company first.
When I think of my insurance

company, I can recognize the brand
name immediately.
Brand Association: Perceived

Value
The company provides good value

for the money.
The quality service of its company

is reliable.
I am proud to own car insurance

from its company.
What I get from the insurance

company is worth the cost.
The insurance company is

dependable.
Brand Association: Brand

Personality
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The insurance company matches

my personality.
I can quickly recall the symbol or

logo of its insurance company.
I have a clear image of the type of

person who would buy from its
insurance company.
I can remember advertising its car

insurance company.
I believe that getting a car

insurance company can reflect my
image.
Perceived Quality: Product

Quality
I can expect superior services from

its insurance company.
The service quality of its brand is

very high.
In terms of overall service quality, I

would rate it car insurance
company high.
The car insurance company is

reliable.
The service quality of a car

insurance company is the most
important in purchasing a car i
insurance.
Perceived Quality: Leadership
The car insurance company is a

service quality leader within its
service quality category.
This car insurance company is
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reliable.
I don't have difficulties in finding

the information that I need from the
insurance company.
Its car insurance company is better

as compared to others in terms of
its service features.
A car insurance company always

develops new services.
Brand Loyalty: Price Premium
I will definitely purchase a car

insurance company, although its
price is higher than other
companies that offer similar
benefits.
I will not purchase from other

insurance companies if my car
insurance company is available.
I intend to purchase from its car

insurance company and anything
from the product category that the
company belongs to.
A car insurance company would be

my first choice.
I would purchase from it car

insurance on the next opportunity.
Brand Loyalty: Satisfaction
I am very satisfied with my current

car insurance.
I am likely to select the same car

insurance when purchasing a new
car.
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I would recommend it car insurance

to others.
If car insurance is not available, I

can wait for it without switching to
another car insurance company.
I am delighted with any of my

experience with it car insurance.
Part III: Consumer Purchase Intention
Direction: Please answer each item and put a check (✔) mark on the box that best reflects
your level of agreement or disagreement with the statement.
Consumer’s purchase
intention toward car
insurance
I intend to get car insurance

from the company.
If I have an opportunity, I would

suggest my relatives, friends, or
acquaintances purchase car
insurance.
If I plan to purchase a car, I

intend to repurchase it from the
insurance company
I intend to purchase car

insurance again than others.
I would like to purchase car

insurance again.
Thank you!
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Metro Manila
127

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MASTER OF SCIENCE IN MANAGEMENT

THE EFFECTS OF BRAND EQUITY ON THE PURCHASE INTENTION OF

Karina Clara Claveria-Romero, PhD.

Date: July 28, 2022

To: DR. ANNA MARIA E. MENDOZA

From: PATRICK SAMSON ZETA

Ms. Lota Kristine San Juan - Nable

Dr. Maria Steffi Manhit

Dr. Anna Maria E. Mendoza

THE EFFECTS OF BRAND EQUITY ON THE PURCHASE INTENTION OF

MA. ALLIAH MAE T. VELASCO

To thrive in today's competitive business environment, insurance firms must have

of brand assets affect consumers' intention to purchase, helping insurance companies

car owners using a questionnaire and an interview guide as part of a mixed-methods

quality, brand loyalty, and brand equity.

equity modified by demographics affect purchase intention negatively. The equity

consumer's brand associations and perceived quality factors.

brand awareness, perceived quality, brand loyalty

and development. I appreciate his generosity and encouragement.

help to keep my development on track.

and encouragement throughout my study.

provided emotional support while making the study.

will keep trusting you for my future.

To succeed in the competitive business world, organizations need efficient tools

consequences of multiple brand strategies. BE has a customer and firm-based perspective

“consumer mindset," which includes structures such as attitude, awareness, associations,

perspective stresses “employing product-market outcomes such as price premium, market

subsidized cash flow of licenses and royalties” (Liu et al., 2017).

Given the prevailing competitive environment, firms and companies spend

Algharabat et al., 2020).

Insurance firms play an essential role in an economy’s growth and development.

as an economic instrument critical to other companies' success. Insurance gives stability

underdevelopment, insecurity, illness, illiteracy, unemployment, negative trade balances,

and other economic features prevalent in underdeveloped countries. Similarly, Hussein

deregulated and liberalized (Takaful, 2019). Consumers’ perception of insurance

products in Pakistan is low. Therefore, the insurance sector’s contribution to GDP is

It will investigate which brand assets affect consumers' intention to purchase,

loyalty and boost their intention to purchase insurance services.

Rationale of the Study

insurance company based on their conception of the company.

they can improve their brand equity.

Scope and Limitations

respondents in terms of age, sex, highest educational attainment, monthly personal

Significance of the Study

intentions for a car insurance company.

become more customer-oriented by providing individually adjusted services according to

Line Managers/Supervisor, Leaders, and Company Stakeholders. The study

formulating the right strategy based on the study's findings.

will affect the consumer in making a decision about purchasing a product.

Statement of the Problem

demographic profile of the respondents?"

RESEARCH OBJECTIVES RESEARCH QUESTIONS

1. To determine the demographic profile of the 1. What is the demographic profile of

respondents in terms of age, sex, highest the respondents in terms of:

educational attainment, monthly household 1.1 age,

income, and car insurance brand ownership. 1.2 sex,

1.3 highest educational attainment,

1.4 monthly household income,

1.5 car insurance brand ownership.

respondents in terms of: the respondents in terms of:

2.1 brand awareness, 2.1 brand awareness,

2.2 brand association 2.2 brand association