The Impact of Brand Equity Dimensions on Purchase Intention: Empirical Evidence from the Vietnamese Life Insurance Market

This study investigates the impact of brand equity dimensions - brand awareness, brand associations, perceived quality, and brand loyalty - on purchase intention in the Vietnamese life insurance market. Drawing upon Aaker’s (1991) and Keller’s (1993) customer-based brand equity framework and the Theory of Planned Behavior, the study employs a quantitative approach using survey data from 350 customers analyzed via SmartPLS 4. The results confirm that all four brand equity dimensions positively and significantly influence purchase intention, with brand loyalty exhibiting the strongest effect, followed by perceived quality, brand awareness, and brand associations. These findings highlight the dual cognitive - affective nature of brand equity, emphasizing that trust and emotional attachment are critical in shaping consumers’ decisions for high-involvement financial services. The study contributes to the literature by validating the multidimensional brand equity model within an emerging Asian market context. Managerially, it underscores the importance of enhancing customer loyalty, ensuring service reliability, and maintaining transparent communication to foster long-term trust and brand sustainability in Vietnam’s competitive life insurance industry.