Factors Affecting Brand Equity in Fast Food Restaurants Industry in Egypt

The main aim of this study is to build and test a model that includes determinants of brand equity in fast food restaurants industry. Designed questionnaire was distributed to customers sample in fast food restaurants in Egypt. Data were obtained from 307 respondents and were analyzed using Amos.18 and Spss.16 to test hypotheses established in a research model. The results indicated that there is a positive significant relationship between perceived value and customer satisfaction. The results revealed that there is a positive significant relationship between customer satisfaction and customer trust. It is found that there is a positive significant relationship between customer satisfaction, customer trust and brand equity.


Introduction
The term relationship marketing has become very widely used in recent years Palmer (1998). Sheth et al. (2015) mentioned that relationship marketing is considered the dominant paradigm in both firm practice and marketing research. Morgan and Hunt (1994) mentioned that relationship marketing is building long term relational exchanges. Peck, et al. (1999) indicated that there are four linked dimensions in relationship management process; they are identifying the value propositions, defining appropriate customers' segments, designing the delivery systems of value and maintaining customers' satisfaction. On the other hand, Donaldson and O'Toole (2002) identified several components that are important in implementation of customer relationship management; they are setting realistic targets and assessing performance, maintaining dialogue with customers, measuring customer satisfaction and managing customer service, managing the gap between organization and customer, emphasizing on quality and investing in people. Henning-Thurau et al. (2002) indicated that relationship quality is a construct including main dimensions which describe the nature of relationships between firms and consumers. Dewulf et al. (2001) indicated that relationship quality is a construct that consists of three main dimensions they are commitment, satisfaction and trust. Garbarino and Johnson (1999) defined relationship quality as a total assessment of the depth of relationship between organization and customer. Cheng et al. (2008) mentioned that when the customer's needs and wants are fulfilled, relationship quality will be achieved. Reichheld and Teal (1996) indicated that providing value to the customer is considered the first objective of the firms. Theilemann et al. (2018) mentioned that today customers are seeking the benefit that exceeds the monetary sacrifice they have paid to purchase a good or service. Simon (2015) indicated that customer perceived value must meet or exceed customer expected value. Theilemann, et al. (2018) mentioned that explaining customer perceived value in restaurants is still a target for both researchers and practitioners. Hu et al. (2009) indicated that providing perceived value to the customer is one of the main approaches when serving customers. Many authors set different definitions for perceived value. Babin (2001) mentioned that perceived value is considered a construct consisting of a single dimension by some and as a construct consisting of multiple dimensions by others. Hu et al. (2009) stated that there are a number of distinct definitions of customer perceived value. These definitions can be classified into two main perspectives. The first perspective considers perceived value as a relationship between benefits and sacrifices (Cronin, et al., 2000;Zeithaml, 1988). Hauser and Urban (1986) mentioned that customer assesses the perceived value based on the comparison between functional utility and economical costs related to purchased product or service. Zeithaml (1988) defined value as a benefit that customer receives for the money paid. Zeithaml et al. (1996) defined perceived value as the benefits obtained from a product or service in compared other alternatives. Woodruff, (1997) defined perceived value as customers' evaluations of the results of using the product in different situations. Ryu et al. (2007) explained perceived value as a comparison between perceived benefits related to buying and using the product and perceived sacrifices related to paying the price. Boksberger and Melsen (2011) defined value as the perception of a customer interaction with the firm or of the final result of this interaction. The second perspective considers perceived value as a construct that has multi dimensions (Sanchez, et al., 2006;Sweeney and Soutar, 2001). Sheth, et al. (1991), Sweeney and Soutar (2001) indicated that there are four types of the perceived value; they are functional, monetary, emotional and social. Sheth et al. (1991) suggested five types of consumption perceived value; they are conditional functional, emotional, social, and cognitive. Wang et al. (2004) consider the firm's ability to provide perceived value to the customers as very necessary in fostering a distinctive advantage over competitors.

Customer Satisfaction
Many authors set different definitions for customer satisfaction. Hunt (1977) described satisfaction as an evaluation of an emotion. Oliver (1980) defined customer satisfaction as the feeling resulting from the comparison between the expected service and the perceived service. Crosby et al. (1990) defined consumer satisfaction as a feeling resulting from customer's total evaluation of all aspects related to firm over time. Caruana, et al. (1998) defined level of customer satisfaction with the service as a result of customer's evaluation of actual service encounter compared to expected service encounter. Cronin, et al. (2000) defined customer satisfaction as customer's evaluation of the total consumption experiences. Hellier, et al. (2003) defined customer satisfaction as customer's feeling of pleasure related to the ability of the service to fulfill his or her expectations. Kotler (2003) defined customer satisfaction as customer's feeling of delight or disappointment resulted from the comparison between product's perceived performance and its expected performance. (Weiss, et al.,2005) mentioned that customer satisfaction results when a customer's perception of a given service encounter matches his/her expectations for that encounter. Ueltschy et al. (2009) defined customer satisfaction as the response of the customer that is based on his/her evaluation of prior expectations and actual perceptions of the product/service. (Raposo et al. (2009) defined customer satisfaction as customer's feeling which is based on confirmation or disconfirmation of his/her expectations. Chen et al. (2009) mentioned that customer satisfaction is directly influenced by confirmation or disconfirmation resulted between customer's pre-purchase expectations and his/her post-purchase perceptions of a product or service.  defined customer satisfaction as a customer's reaction to long-term service relationship. Nam et al. (2011) defined customer satisfaction as customer's response to the total last purchasing experience. Loureiro, et al. (2014) stated that there are two types of customer satisfaction; they are transactional and cumulative. Anderson et al. (1994) stated that in transactional satisfaction view customers evaluate specific service encounter or consumption situation. Nam et al. (2011) stated that in a cumulative satisfaction view customers evaluate the total experience with a product or service. Johnson and Fornell (1991) defined cumulative satisfaction as total customer evaluation based on all experiences with the firm and the product. Harris and Harrington (2000) stated that customer satisfaction is achieved if the firms exert every effort to meet customer's needs. Ueltschy et al. (2009) stated that many firms considered customer satisfaction an effective intangible asset for gaining competitive advantage globally.

Customer Trust
Some authors set different definitions for customer trust. Moorman, et al. (1992) defined trust as a willingness to rely on a confident exchange partner. Moorman, et al. (1992) defined customer trust as the degree of customer confidence in a business's reliability. Doney and Cannon (1997) defined credibility as the expectancy that institution's promises will be kept. Doney et al. (1998) mentioned that trust is the predisposition to depend on another party. Doney, et al. (2007) defined customer trust as a benevolence which entails a belief in the other party's favorable and positive intentions. Scheer (2012) defined trust as the belief that one's channel partner will fulfill its obligations and will behave in an honest manner. Hoq, et al. (2010) indicated that confidence and reliability of both parties are crucial in building trust. Hurely (2006) suggested six dimensions of trust; they are shared values, beliefs, interests, benevolent intentions, capability, integrity and transparency. Tran and Cox (2009) mentioned that brand equity from the individual consumer perspective is a multidimensional construct including the components of brand awareness, brand associations, perceived quality, ijbm.ccsenet.org International Journal of Business and Management Vol. 15, No. 5;2020 brand trust, brand preference and brand loyalty. Hutton (1997) concluded that brand equity is measured by customers' willingness to pay a premium price to purchase their favorite brand and recommending this brand to others. Davis and Doughlass (1995) defined brand equity as a viable asset for producers. Shocker and Weitz (1988) defined brand equity as the incremental cash flow resulting from revenues of products with a brand name over those of unbranded ones. Lemon, et al. (2001) indicated that customer equity is the sum of profits acquired from current and new customers. So, brand equity can be measured through determinants that affect profits of current and new customers. So, Brand equity can be measured through customer loyalty or repeated purchases, positive word of mouth that helps the firm to acquire new customers and customer's expenditure. Reich, et al. (2006) distinguished between attitudinal and behavioral loyalty. Attitudinal loyalty refers to customer's intentions to repeat the purchasing whereas behavioral loyalty refers to customer's repeated purchasing behaviour. Patterson and Spreng (1997) defined repurchase intention as consumers' evaluation of future purchases from the same company based on their previous experience. Oliver (1999) defined customer loyalty as a deep commitment to re-buy a preferred product or service in the future. Hellier, et al. (2003) mentioned that customer loyalty is the degree of customer's repeating purchase from a certain service company and customer's expenditure on that service. Lee, et al. (2008) defined customer loyalty as the customer's intention to repurchase from the current firm. Palazon and Delgado (2009) mentioned that brand loyalty allows consumers to buy a brand and refuse to switch to another brand. Blackston (1995) concluded that consumers who are highly loyal are willing to pay more to purchase the brand and are less likely to switch to other brands when price is high or when competitors offer promotional price. Blackston (1995) mentioned that strong company's brand can lead to consumer loyalty. Westbrook (1987) defined word of mouth as customer's communications directed at other customers about specific product or its seller. Swan and Oliver (1989) mentioned that word of mouth is the degree to which consumers praise a firm and its products and recommend them to others. Buttle (1998) mentioned that word of mouth is the customers' oral evaluation of a firm's products. Harrison-Walker (2001) mentioned that word of mouth is the personal communication between sender and receiver regarding a product brand. Harrison-Walker (2001) mentioned that word of mouth is the degree of talking to others about advantages of a firm and its products or services. Londono, et al. (2017) mentioned that the tendency to pay for receiving certain product or service is called intention to pay.

Perceived Value and Customer Satisfaction
McDougall and Levesque (2000) concluded that perceived value is the main determinant of customer satisfaction. Hellier, et al. (2003) indicated that perceived value affects positively customer satisfaction. Qin, et al. (2010) pointed out that customer perceived value affects directly customer satisfaction. Hume and Mort (2010) found that perceived value has a direct and positive relationship to customer satisfaction. Chang, et al. (2010) found that customer perceived value affects significantly customer satisfaction. Ryu, et al. (2012) concluded that customer perceived value is a significant factor affecting customer satisfaction. Chang (2013) indicated that perceived value is a significant predictor of customer satisfaction. Gallarza, et al. (2013) concluded that customer satisfaction is an outcome of customer perceived value. Roig, et al. (2013) found that customer satisfaction is affected directly and positively by functional value, emotional value and social value. Singh (2015) indicated that customer evaluation process includes three stages; they are perceived image, perceived value and customer satisfaction. Gallarza, et al. (2016) concluded that customer satisfaction is influenced significantly and positively by quality value, monetary value and emotional value. Liu and Tse (2018) indicated that price and value of full-service restaurants affect significantly and positively customer satisfaction. Mahmoud, et al. (2018) pointed out that customer satisfaction is influenced significantly by customer value. Lee and Phau (2018) found that monetary value, quality value, emotional value and social value have a significant impact on total perceived value which has a significant impact on customer satisfaction. According to the above discussion, this study suggests the first hypothesis: H1: There is a positive significant relationship between perceived value and customer satisfaction.

Perceived value and customer trust
Dedeoglu, et al. (2019) found that brand trust was affected positively by both hedonic and functional values. Berraies, et al. (2017) found that customers' e-trust is explained by quality value, monetary value and emotional value of mobile banking applications. Moliner, et al. (2007) concluded that the formation of customer trust is influenced by emotional value. According to the previous discussion, this study suggests the second hypothesis: H2: There is a positive significant relationship between perceived value and customer trust.

Customer Satisfaction and Customer Trust
Moliner , et al. (2007) concluded that customer trust is an outcome of customer satisfaction. Jalilvand, et al. (2017) ijbm.ccsenet.org International Journal of Business and Management Vol. 15, No. 5;2020 concluded that consumer trust is affected positively by consumer satisfaction. Song, et al. (2019) found that customer satisfaction influences positively customer trust. According to the above discussion, this study suggests the third hypothesis: H3: There is a positive significant relationship between customer satisfaction and customer trust.

Customer Satisfaction and Brand Equity
Some previous studies emphasized that there is a positive significant relationship between customer satisfaction and dimensions of brand equity (customer loyalty-customer word of mouth -customer spending). Alves, et al. (2019) confirmed that customer loyalty is influenced positively by total customer satisfaction. Song, et al. (2019) found that customer satisfaction has a positive impact on customer loyalty. Gallarza, et al. (2016) concluded that customer loyalty is influenced significantly by customer satisfaction. Loureiro, et al. (2014) concluded that loyalty intentions are affected significantly and directly by satisfaction. Chang (2013) found that customer satisfaction affects significantly customer loyalty. Gallarza, et al. (2013) found that customer satisfaction has a strong positive impact on customer loyalty. Roig, et al. (2013) found that the effect of customer satisfaction on customer loyalty is direct and positive. Ou, et al. (2011) confirmed that customer satisfaction influences positively on customer loyalty. Edward and Sahadev (2011) concluded that customer retention is influenced directly by customer satisfaction. Chang, et al. (2010) concluded that consumer loyalty is influenced positively by consumer satisfaction. Hume and Mort (2010) concluded that repurchase intentions are affected positively by consumer satisfaction. Molinari, et al. (2008) concluded that there is a positive link between customer satisfaction and repurchase intentions. Moliner, et al. (2007) found that customer satisfaction has a significant impact on customer loyalty. Ball, et al. (2004) indicated that customer satisfaction firstly explains customer loyalty. Kitapci, et al. (2013) concluded that both repurchase intention and positive word of mouth are influenced positively by customer satisfaction. Dolarslan (2014) concluded that customer satisfaction has positive effects on repurchase intentions, positive word of mouth and willingness to pay more. According to the previous discussion, this study suggests the fourth hypothesis: H4: There is a positive significant relationship between customer satisfaction and brand equity.

Customer Trust and Brand Equity
Some previous studies emphasized that there is a positive significant relationship between customer trust and dimensions of brand equity (customer loyalty-customer word of mouth-customer spending). Brown, et al. (2019) indicated that trust affects loyalty significantly and positively. Alves, et al. (2019) confirmed that customer loyalty is influenced positively by customer trust. Song, et al. (2019) found that there is a positive relationship between customer trust and customer loyalty. Esterik-Plasmeijer and Raaij (2017) concluded that customer loyalty is explained by customer trust. (Arcand, et al., 2017) indicated that customer trust significantly impacts customer loyalty. Jalilvand, et al. (2017) indicated that customer trust affects significantly and positively customer loyalty. Chinomona (2016) concluded that brand trust influences positively on brand loyalty. Loureiro, et al. (2014) found that customer trust directly impacts loyalty intentions. Chang (2013) concluded that customer trust influences significantly customer loyalty. Ou, et al. (2011) confirmed that customer loyalty is affected positively by customer trust. Moliner, et al. (2007) concluded that customer trust has a significant impact on customer loyalty. Ball, et al. (2004) found that customer trust influences directly on customer loyalty. Jalilvand, et al. (2017) indicated that customer trust is significantly associated with customer intention to disseminate positive word of mouth. Chaudhuri and Holbrook (2001) demonstrated that customer behavioral intentions are influenced by customer trust. Zeithaml, et al. (1996) mentioned that behavioral intentions have three key dimensions; they are willingness to repurchase products or services from a company, to recommend the company and to say positive comments about its services and to pay a premium price for its products or services. According to the above discussion, this study suggests the fifth hypothesis: H5: There is a positive significant relationship between customer trust and brand equity.

Perceived Value and Brand Equity
Previous studies emphasized that there is a positive significant relationship between perceived value and dimensions of brand equity (customer loyalty-customer word of mouth-customer spending). Gill, et al. (2007) found that customer behavioral intentions are influenced significantly, directly and positively by customer perceived value dimensions. Molinari, et al. (2008) concluded that perceived value influences significantly and positively on repurchase intentions. Edward and Sahadev (2011) found that customer retention is influenced significantly and positively by perceived value. Roig, et al. (2013) concluded that social value influences directly and positively customer loyalty. Senic and Marinkovic (2014) indicated that emotional value is the strongest antecedent of attitudinal loyalty. Tarus and Rabach (2013) concluded that customer loyalty is explained by perceived service value. Jahanzeb et al. (2013) found that customer based brand equity is influenced significantly and positively by perceived value. Dolarslan (2014) found that repurchase intentions, positive word of mouth and willingness to pay more are influenced positively by perceived value. Hanaysha (2018) found that a purchase decision (customer loyalty-customer word of mouth-customer spending) is influenced positively by perceived value. According to the above discussions, this study suggests the following hypotheses: H6: There is a positive significant relationship between perceived value and brand equity.
H7: Customer satisfaction mediates the relationship between perceived value and brand equity.
H8: Customer trust mediates the relationship between perceived value and brand equity. Figure 1 illustrates the proposed model of the study. It includes the hypothesized relationships. The factors under investigation are perceived value, customer satisfaction, customer trust and brand equity. Accordingly the researcher aims to examine the mentioned relationships on fast food restaurants in developing context namely Egypt.

Sample and Data Collection
Data was collected from customers of fast food restaurants located in Cairo, the capital of Egypt, through distributing designed questionnaire to visiting customers. Sample size was 384 customers of fast food restaurants in Egypt. Sample size was calculated by sample size calculator according to the following assumptions: population size = 20,500,000 customers, confidence level = 95%, allowed margin error = ± 5% and level of accuracy = 50%.

Research Measures
To measure perceived value the researcher used measures which were used in previous studies (Zeithmal, 1988;Turley and Milliman, 2000;Lee, et al., 2004;Petrick, 2002;Itani, et al., 2019;Boo, et al., 2009;Kabadayi, et al., 2017). To measure customer satisfaction the researcher used the measures which were used in previous studies (Song, et al., 2019;Cronin, et al., 2000;Spreng, et al., 1996;Fornell, 1992;Laroche, et al., 2004). The (Gansan and Hess, 1997) scale was used to measure customer trust. To measure brand equity the researcher used measures which were used in previous studies (Oliver, 1997;Pritchard, et al., 1999;Lewis and Soureli, 2006;Reith, et al., 2006;Yi and Gong, 2013;Hellier, et al., 2003). Measurement items are shown in the appendix. Table 2 shows that all constructs exhibited acceptable composite reliability values exceeding the minimum limit 0.7 suggested by Bagozzi (1994 Table 3 shows that AVE (average variance extracted) for all constructs were equal or greater than 0.5 confirming internal consistency and convergent validity Fornell and Larcker (1981

Results
The proposed hypotheses in the proposed model (H1-H6) were tested by using structural equation modeling technique (SEM) through path analysis. Table 6 shows the results of bath analysis for the research model.  Vol. 15, No. 5;2020 Figure2. Tested model It was concluded that there is a positive significant relationship between perceived value of fast food restaurant products and customer satisfaction with them. So, H1 was supported. It was found that there is no significant relationship between perceived value of fast food restaurant products and customer trust in them. So, H2 was rejected. Results indicated that there is a positive significant relationship between customer satisfaction and customer trust. So, H3 was supported. Results revealed that there is a positive significant relationship between customer satisfaction and brand equity. So, H4 was supported. It was concluded that there is a positive significant relationship between customer trust and brand equity. So, H5 was supported. It was found that there is no significant relationship between perceived value and brand equity. So, H6 was rejected. Results indicated that customer satisfaction mediates the relationship between perceived value and brand equity. So, H7 was supported. Table 7 shows the mediating effect of customer satisfaction on the relationship between perceived value and brand equity. Results revealed that customer trust doesn't mediate the relationship between perceived value and brand equity. So, H8 was rejected.

Discussions and Conclusions
According to the results of the study, positive perceived value of good and service of a restaurant leads to high level of customer satisfaction which leads to high level of customer trust. Both high level of customer satisfaction and high level of customer trust lead to high brand equity which means high customer loyalty to the restaurant, positive word of mouth about a restaurant and high spending for purchasing products of restaurant.

Managerial Implications
The main role of management of a restaurant is to determine customers' expectations and to provide customers with suitable products that meet or exceed these expectations to achieve high level of customer satisfaction. Management of a restaurant should consider that offered products' benefits are greater than prices of these products to achieve high positive customer perceived value. The customers of the restaurant use some criteria to  Business and Management Vol. 15, No. 5;2020 evaluate the restaurant as whole. These criteria are called dimensions of restaurant quality. These criteria are fresh, tasty, safe and healthy food; lower prices of meals; variety of menu items; appropriateness of interior design and background music and lower waiting time to get the meals. The management of restaurant should provide its customers with these expectations at the highest level.

Limitations and Future Research
The current study explained how brand equity can be formed in fast food industry. There is a need to implement other researches to explain how brand equity can be formed in other industries.

Copyrights
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