The Influence of Brand Equity, Brand Identity, and Brand Credibility on Consumers’ Willingness To Pay A Premium For Hoka Running Shoes In Purwokerto
Keywords:
brand equity, brand identity, brand credibility, willingness to pay a premiumAbstract
This research aims to analyze the influence of brand equity, brand identity, and brand credibility on the willingness to pay a premium by consumers of HOKA running shoes in Purwokerto. Using a quantitative approach with survey methods and a sample of 100 respondents. The variables used in this study include brand equity, brand identity, and brand credibility as independent or free variables and willingness to pay premium as the dependent or bound variable. The data used in this research are primary data, obtained from the responses of respondents collected with the help of a questionnaire, distributed online using Google Forms. The sampling method in this research uses non-probability sampling based on specific criteria determined by the researcher, with the purposive sampling technique selecting respondents based on specific criteria relevant to the research objectives. The data analysis technique used in this research is Structural Equation Modeling. (SEM). Statistical testing includes Measurement Model Testing (Outer Model) using Convergent Validity, Discriminant Validity, and Composite Validity, as well as Structural Model Testing. (Inner Model). The result of this study is that brand identity has a positive and significant impact on the willingness to pay premium (WTP premium) for HOKA running shoes, while brand equity and brand credibility do not have an effect. The stronger the HOKA brand identity, the higher the consumer's willingness to pay a premium price. Conversely, brand equity and brand credibility do not influence the consumer's willingness to pay more. This indicates that the willingness to pay a premium (WTP premium) for HOKA running shoes is not affected by the brand equity and brand credibility of the product, but rather by the brand identity that can reflect the consumer's identity.
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