WHAT INSPIRES CONSUMERS TO PAY MORE: MEDIATING EVIDENCE OF BRAND PREFERENCE

Abstract

The recent developments in branding have changed the market trend, and people are willing to pay more for branded products. The basic aim of this research work is to investigate the impact of brand image on the customer's willingness to pay more/ price premium for the branded products. This study also focuses on how customers brand preferences mediate this relationship. A deductive approach has been used for this study. The population of this research is the consumers of the fast-food industry. To evaluate the hypothesized relationship, the data is collected from 550 students from three different universities in Lahore, Pakistan. The SPSS Amos software has been used to analyze the data through correlation coefficient and regression analysis. This research study provides useful information to policy-makers in identifying and analyzing the factors that can play an essential role in building a favorable brand image in the minds of customers.