Brand equity, processed food, Brand resonance
Empirical studies on consumption patterns provide important insights into the theoretical aspects of consumer demand, through highlighting the changing habits and preferences of consumers over the years. After seventh five year plan when the Indian economy had crossed the Hindu growth rate and especially after the implementation of GLP (Globalization, Liberalization, and Privatization), the economy has been experiencing a healthy growth of per capita income. This has given a boost to the food processing industries to grow since the Engel’s elasticity of demand for processed food has been found to be more than one (Mukund 2010). The more than one Engel’s elasticity of demand categorises processed food items as luxurious items and it further tells that Indian consumers will expend more and more on processed food items as their income increases. The present study examines the determinants of brand equity in the perspective of processed food products in India. The finding suggests that the Indian consumers have started recognizing the processed food brands and are showing their preferences towards certain brand fulfilling their appetite. However for different determinants of brand equity, the magnitudes of preferences are varying significantly.
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