High Brand Equity in Sportswear Drives Increased Purchase Volume and Premium Pricing
Strong consumer-based brand equity in tracksuits directly correlates with a greater willingness to purchase and pay more for a brand.
Baltic Journal of Sport and Health Sciences · 2017
Key Findings
- 01Consumer-based brand equity for tracksuits did not differ significantly by gender, age, usage purpose, or purchase timing.
- 02Consumer-based brand equity was significantly influenced by the number of tracksuits owned and the amount consumers were willing to pay.
- 03Higher brand equity is associated with a greater willingness to pay a premium price.
Application
Design takeaway
Prioritize strategies that build and reinforce consumer-based brand equity, as this directly translates to increased sales volume and higher profit margins through premium pricing.
How to apply
Conduct market research to understand current brand equity levels for your target audience and develop marketing campaigns that enhance brand awareness, perceived quality, and brand loyalty.
Project actions
- 01When researching a product, consider how the brand name itself influences consumer choices, not just the product's features.
- 02Think about how you can measure or demonstrate the value of a brand in your design project.
Method & Evidence
Variables
Strengths & Limitations
Strengths
- +Focuses on a specific, under-researched product category (tracksuits).
- +Uses a validated scale to measure brand equity.
Limitations
The study's findings might not apply to all product categories or demographics. The research didn't delve into the specific marketing tactics that build this equity.
Reliability & validity
The use of a validated scale enhances reliability and validity. However, self-reported purchasing behavior can be subject to recall bias.
Think critically
To what extent does brand equity influence purchasing decisions compared to product functionality or price point in different consumer markets?
Design Principles
"Brand equity is a key driver of consumer purchasing behavior and willingness to pay."
Understanding and cultivating brand equity is crucial for sportswear brands aiming to enhance sales and market share. This insight highlights that investing in brand perception can lead to tangible financial benefits through increased customer loyalty and premium pricing strategies.
What This Means for Your Design
If people really like a tracksuit brand and think it's valuable (high brand equity), they'll buy more of it and be willing to pay more money for it.
How to use in your project
- 1.Use this research to justify focusing on branding and marketing strategies in your design project, especially if your product aims for a premium market segment.
Add to My Project
Quick Cite
(2017). Investigation of Consumer Attitudes from the Perspective of Consumer Based Brand Equity on Tracksuit Brands. Baltic Journal of Sport and Health Sciences. https://doi.org/10.33607/bjshs.v2i105.27 Retrieved from https://designdex.org/study/5a80a6e4-fcaf-4c63-a2b0-bac1657a4aaa/high-brand-equity-in-sportswear-drives-increased-purchase-volume-and-premium-pricing
Paragraph starter
Research indicates a strong correlation between consumer-based brand equity and purchasing behaviors in the sportswear sector, suggesting that brands with higher perceived value are associated with increased purchase frequency and a greater willingness to pay premium prices. This highlights the strategic importance of brand building in driving market success.
Source
Baltic Journal of Sport and Health Sciences
Investigation of Consumer Attitudes from the Perspective of Consumer Based Brand Equity on Tracksuit Brands
journal · 2017
View sourceQuestions about this research
- What does the research say about high brand equity in sportswear drives increased purchase volume and premium pricing?
- Prioritize strategies that build and reinforce consumer-based brand equity, as this directly translates to increased sales volume and higher profit margins through premium pricing. Evidence: Baltic Journal of Sport and Health Sciences (2017).
- Why does "High Brand Equity in Sportswear Drives Increased Purchase Volume and Premium Pricing" matter for design?
- Understanding and cultivating brand equity is crucial for sportswear brands aiming to enhance sales and market share. This insight highlights that investing in brand perception can lead to tangible financial benefits through increased customer loyalty and premium pricing strategies.
- How can designers apply this research?
- Prioritize strategies that build and reinforce consumer-based brand equity, as this directly translates to increased sales volume and higher profit margins through premium pricing.
- What were the main findings?
- Consumer-based brand equity for tracksuits did not differ significantly by gender, age, usage purpose, or purchase timing.. Consumer-based brand equity was significantly influenced by the number of tracksuits owned and the amount consumers were willing to pay.. Higher brand equity is associated with a greater willingness to pay a premium price.
- What research method was used?
- Quantitative Survey with 250 participants.
- How strong is the evidence?
- Evidence strength is rated Strong effect, based on a 2017 journal from Baltic Journal of Sport and Health Sciences.
- What should I do differently in my next project?
- Conduct market research to understand current brand equity levels for your target audience and develop marketing campaigns that enhance brand awareness, perceived quality, and brand loyalty.
- What are the limitations?
- The study focused solely on athletes, which may not represent the broader consumer market for tracksuits. The research did not explore the specific attributes contributing to brand equity.
- Is there evidence that brand equity affects design outcomes?
- The study found that while factors like gender and age didn't affect brand equity for tracksuits, the number of tracksuits owned and how much people were willing to spend were strongly linked to their perception of a brand's equity. Essentially, brands with higher equity are more likely to be bought more often and at a Source: Baltic Journal of Sport and Health Sciences (2017).
- Where does this premium pricing research apply?
- Sportswear market, specifically tracksuits It sits within innovation & markets research on designdex.org.
Related research topics
brand equity design research · evidence on brand equity · does brand equity improve design outcomes · premium pricing studies for designers · brand equity and premium pricing findings · innovation & markets research evidence