Identifying non-monetary promotions affecting brand equity in cosmetic industry in case of Innisfree
Abstract
The business using the promotion mix like a set of tools to communicate effectively the benefits of their products and services to their customers with the main purpose is to attain the targeted consumers and convince them to buy. Sale promotion is the vital factor of promotion mix having been studied very extensively and progressively become one of the essential instrument for marketing. Its importance has been increasing significantly over the years.
Monetary promotions and non-monetary promotions are two types of sale promotions. This study only captures the non-monetary promotions aspects and reciprocal influence between non-monetary promotions and customer decisions through brand equity including brand loyalty, brand association and brand awareness, perceived quality. The data was collected and gathered from target populations are those living in Ho Chi Minh city with the age from 18 to 50. The results show that managers should seriously consider suitable promotions, as they are proven to be effective in specific cases under certain circumstances – the cosmetic industry in this case.
Key words: sale promotion, non-monetary promotions, brand equity, brand loyalty, brand association, brand awareness, perceived quality, cosmetic industry.
Paper type: Research paper