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The Importance Of Brand Awareness In Consumers’ Buying Decision And Perceived Risk Assessment

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  • Ovidiu I. MOISESCU

    (Babes-Bolyai University of Cluj-Napoca)

Abstract

Brand awareness, as one of the fundamental dimensions of brand equity, is often considered to be a prerequisite of consumers’ buying decision, as it represents the main factor for including a brand in the consideration set. Brand awareness can also influence consumers’ perceived risk assessment and their confidence in the purchase decision, due to familiarity with the brand and its characteristics. On the other hand, brand awareness can be depicted into at least two facets – unaided (brand recall) and aided (brand recognition) – each of the two facets having its more or less effective influence on buying decision and perceived risk assessment. This paper tries to reveal, on one hand, the importance of unaided brand awareness when it comes to consumers’ buying decision and, on the other hand, the importance of aided brand awareness when assessing the perceived risk associated with the purchase. The analysis is conducted in a comparative manner, considering the case of durable versus non-durable products, and with focus on urban Romanian consumers.

Suggested Citation

  • Ovidiu I. MOISESCU, 2009. "The Importance Of Brand Awareness In Consumers’ Buying Decision And Perceived Risk Assessment," Management and Marketing Journal, University of Craiova, Faculty of Economics and Business Administration, vol. 0(1), pages 103-110, November.
  • Handle: RePEc:aio:manmar:v:vii:y:2009:i:1:p:103-110
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    File URL: http://www.mnmk.ro/documents/2009/10_Moisescu_FFF.pdf
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    References listed on IDEAS

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    1. Keller, Kevin Lane, 2003. " Brand Synthesis: The Multidimensionality of Brand Knowledge," Journal of Consumer Research, Oxford University Press, vol. 29(4), pages 595-600, March.
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    Cited by:

    1. Ovidiu I. MOISESCU & Andrej BERTONCELJ, 2010. "A Comparative Study Of The Relationship Between Brand Loyalty And Market Share Among Durable And Non-Durable Products," Management and Marketing Journal, University of Craiova, Faculty of Economics and Business Administration, vol. 0(1), pages 137-145, May.

    More about this item

    Keywords

    brand aided and unaided awareness; brand choice; perceived risk;

    JEL classification:

    • M30 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Marketing and Advertising - - - General

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