Analyzing the impact of brand resonance on consumer purchase intentions for fast moving consumer goods: an empirical study

Abstract

In the dynamic and highly competitive landscape of the Fast-Moving Consumer Goods (FMCG) industry, a multitude of companies are in a constant race, each one striving to outdo the others. This paper aims to delve deeper into the role of brands within this context. It seeks to explore and understand the significance of brands and how they can be leveraged to succeed in the FMCG sector. An extensive examination of the prevailing studies regarding this topic unveils a distinct void in research, especially regarding the notion of brand resonance. Despite its importance, there seems to be a lack of comprehensive research on this topic. It seeks to understand what elements play a crucial role in creating brand resonance and how it, in turn, impacts consumer purchasing decisions. To achieve this, the study employs a quantitative research approach. Data was collected through structured questionnaires, designed to gather relevant information from the respondents. The collected data was then analyzed using robust statistical tools. Confirmatory Factor Analysis (CFA) served to validate the measurement model, while Multiple Regression Analysis was utilized to grasp the connections among the variables. The findings of the study suggest a favourable correlation between brand resonance and intentions to purchase. These findings offer valuable insights for marketers operating in the FMCG sector. Understanding the factors that contribute to brand resonance can help them devise effective branding strategies, ultimately leading to increased sales and market share. Moreover, the study proposes potential paths for future investigation in this domain, thereby enriching the current understanding of the subject matter.