THE IMPACT OF BRAND EQUITY ON BRAND PREFERENCE OF PHARMACEUTICAL PRODUCTS: THE CASE OF PRIVATE HEALTH SECTOR

Abstract

This study was aimed at examining and identifying the major factors that determine brand equity and preference among pharmacists, druggists and physician working in private clinics and hospitals in Addis Ababa. The study was an explanatory type of study applying quantitative methods. A total of 522 pharmacists, physicians and druggists working in private clinics and hospitals were involved in the study. The factors that the study focused as determinants of brand equity are brand awareness, brand association, brand loyalty, perceived quality, availability, packaging, price and promotion. The findings of the study revealed that brand association, promotion and packaging are the major determinants of brand equity. Whereby specific recommendations towards the focus areas of execution are given. Based on the result, the author of the study put recommendations that should be implemented by regulatory authority, pharmaceutical companies and product users towards the highly influencing factors. For pharmaceutical companies in order to have a successful marketing activities they should rely on the above mentioned three factors and regulatory body should intensify their quality control procedures and implementation of quality guidelines and health care professionals should highly act in ethical and technically acceptable manner so as to find a balance between all the factors of brand equity.