Analysis of the factors influencing brand value among young people in the city of Machala, textile sector

Abstract

The modern consumer distinguishes themselves through their high expectations towards a brand when acquiring a product, considering sociocultural, psychological, and past experiential elements. This is why companies update strategies to strengthen their brand in the market. The textile sector in Ecuador is immersed in a competitive market, requiring them to generate value for their products through brand management. Numerous factors influence brand value, especially among the younger population, linked to brand perception, as consumers generally choose those that enhance their self-esteem. This research aims to identify the key factors influencing brand value among young individuals in the city of Machala in the textile sector. The methodology employed is grounded in a quantitative approach. A structural model was designed comprising five constructs: attitude and satisfaction, quality and perceived value, trust, positioning, and brand value. To evaluate this model, the PLS-SEM technique was applied, maximizing the explanation of variance in endogenous variables, involving a sample of 189 individuals aged 18 to 35, encompassing both genders. Sample selection was based on data provided by the National Institute of Statistics and Censuses (INEC). The findings indicate that customer attitude and satisfaction, along with quality and perceived value, coupled with positioning, significantly influence brand value for the young segment of the population in Machala's textile sector. However, concerning the trust variable, the results suggest a weaker relationship, possibly because the segment values brands with media presence, a solid image, and prestige more highly.