Measuring Customer-Based Brand Equity in Traditional Herbal Medicine Market in Kumasi, Ghana

Building strong brands with positive equity in a highly competitive traditional herbal medicine market is crucial to having an edge over the competition. However, the concept of brand equity is relatively new to the traditional herbal medicine market as there is relative scarcity of empirical research to uncover its significance. This paper examines customer-based brand equity in the traditional medicine market in Kumasi. Guided by Aaker's four-dimensional brand equity model, four hypotheses were proposed and tested by structural equation modelling. The study utilized a sample of 348 customers in the traditional medicine market in Kumasi, Ghana. It confirmed the proposed fourdimensional brand equity model in the traditional medicine industry in Kumasi. The research, therefore, recommends that traditional medicine companies should develop brand awareness, association, loyalty and perceived quality to enhance brand equity to gain competitive distinctiveness in the market.