Effects of Brand on Consumer Preferences: A study in Turkmenistan
Using a measurement model of brand name and consumer preferences, this study aims to investigate the effects of brand name on consumer preferences in Turkmenistan. This study sought to investigate specifically, the influence of brand name on consumer’s preferences by utilizing structural equation modeling (SEM) technique. Moreover, all possible correlations between these dimensions or domains of brand name and consumer preferences are also empirically tested. In the context of the study, the introduced model was tested by a questionnaire instrument with 10 items excluding the demographic variables. A total of 422 completed copies of questionnaires were evaluated for analysis. The results suggest that, brand name variable have statistically significant relationships with consumer preferences variable. The findings of the study indicated positive correlations among the two variables with high factor loadings. Brand name of a product has significant impact on the overall preferences of the consumers.