The relationship of lovemarks with brand experience and brand equity

Brands are the most valuable assets of businesses in today's world. Marketing researchers as well as business owners focus on how to create strong brands with high familiarity, positive associations, high perceived quality and loyal customers. In order to achieve these goals, brands need to establish strong emotional, love-like bonds with their customers, moreover they must be respected. High respect and love by customers convert brands into "lovemarks". Brands that aim to be loved and respected should concentrate on creating positive and unique brand experiences. The purpose of the current study is to understand the relationship among lovemarks, brand experience and brand equity, their dimensions and exploring the associations among their dimensions. Data were collected through an online survey and a snowball sample of 388 respondents. Structural Equation Model (SEM) was used to test the conceptual model which examines the relationship among brand experience, lovemarks and brand equity. Secondly, correlations among dimensions were calculated. As expected, lovemarks had a positive significant association with brand experiences. Lovemarks were positively and strongly associated with brand equity as well. Findings also supported that brand experience and brand equity had a positive relationship. Among dimensions, there are positive significant relationships between brand love and sensory experiences, brand love and affective experiences, brand respect and intellectual experiences, brand respect and behavioral experiences, brand love and brand awareness, brand respect and brand awareness, brand associations and brand love, brand respect and perceived quality, brand love and brand loyalty, brand respect and brand loyalty. Keywords: Brand, Lovemarks, Brand Experience, Brand Equity, Brand Love