The Effects of
Marketing Mix Elements
on Brand Equity*
The structural model of the effects of marketing mix elements on brand equity is
defined in line with the existing theoretical findings. Research hypotheses are
defined according to the identified structural model. In order to test the defined
structural model and research hypotheses empirical research was conducted on the
sample of undergraduate students of the Faculty of Economics and Business in
Zagreb. Research results indicate that the structural model has an acceptable level
of fit to the empirical data. The estimated structural coefficients and indirect effect
coefficients indicate the direction and intensity of effects of each analysed element
of marketing mix on brand equity. Finally, implications of research results for the
theory and practice of brand management are analysed and discussed.
Keywords: brand equity, brand, strategic brand management, marketing mix
JEL classification: M31
This paper was originally published in Privredna kretanja i eknomska politika (Economic Trends and
Economic Policy) No. 102, 2005, pp. 30-59.
Edo Rajh, Research Associate, The Institute of Economics, Zagreb.
Croatian Economic Survey 2005
The concept of brand equity was first introduced in marketing literature in the
1980’s. During the 90’s this topic received significant attention from both
scientists and marketing practice, which resulted in a large number of articles and
books on the subject (e.g. Aaker and Keller, 1990; Aaker, 1991; Keller and Aaker,
1992; Aaker and Biel, 1993; Keller, 1993; Aaker, 1996; Agarwal and Rao, 1996;
Kapferer, 1998; Keller, 1998). The interest in brand equity is still active (e.g. Yoo et
al., 2000; van Osselaer and Alba, 2000; Dillon et al., 2001; Keller, 2001; Yoo and
Donthu, 2001; Moore et al., 2002).
The importance of brand equity consists in numerous benefits for companies that