Impact of Effective Factors on the Industrial Brand Equity

The core capital of many businesses is their brand. Today companies not only use the brand to differentiate themselves from competitors in the market, but also use the brand to reach the minds and hearts of customers and create a special emotional relationship with them. In this study, due to the great differences between consumer markets and industrial markets, the factors affecting in industrial brand equity have been investigated. The statistical population includes all companies producing composite products and unsaturated polyester resins and vinyl esters in Iran. Due to the limitations of competitive industrial markets, the Convenience sampling method has been used and to test the research hypotheses, structural equation modeling based on the partial least squares method has been used. Research findings have shown that Consumers’ understanding of brand characteristics, Consumers’ brand evaluation, Consumers’ affective towards the brand and customer behavior towards the brand have a positive and significant effect on the brand equity. Also, brand awareness and brand association have a positive and significant effect on Consumers’ understanding of brand characteristics. Reputation, leadership, quality and distinction or uniqueness of the brand has a positive and significant effect on customers' evaluation of the brand. Brand satisfaction, brand commitment, brand trust and brand identity have a positive and significant effect on consumers’ affective towards the brand. Finally, willing to pay a price premium, Word – of – mouth (WOM) recommendation, brand usage and Acceptance of brand extensions has a positive and significant effect on customer behavior towards the brand.