The Role of Brand Equity in Influencing Consumer Behavior in the FMCG Sector: A Literature Review

Abstract

This paper provides a comprehensive literature review on the role of brand equity in influencing consumer behavior within the fast-moving consumer goods (FMCG) sector. Brand equity, a critical company asset, encompasses elements such as brand loyalty, awareness, perceived quality, and associations, which collectively shape consumer perceptions and purchasing decisions. The review synthesizes findings from various studies, highlighting the significant impact of brand equity on consumer behavior, particularly in the personal care product segment. Furthermore, it explores the effectiveness of FMCG marketing techniques in building and managing brand equity, including advertising, promotions, and packaging strategies. The paper identifies key research gaps, notably the limited exploration of how brand equity influences consumer behavior in personal care products, the role of online channels in emerging markets, and the impact of cultural and social factors on consumer decisions. A conceptual framework is proposed to address these gaps, emphasizing the need for future research to deepen our understanding of these relationships. The insights from this review are crucial for both academic research and practical applications, providing a foundation for developing more effective marketing strategies in the FMCG sector.