Effect of Cultural Values on Brand Equity of Nigerian Breweries PLC Products in Lagos State, Nigeria

This paper examined the effect of cultural values (CLV) on brand equity (BDQ), using consumers of Nigerian Breweries PLC products. The study was carried out on consumers in Ojo Local Government Area of Lagos State. The paper adopted descriptive research design, using primary data for the study. As a result of the heterogeneous and infinite nature of the population, Cochran (1977) infinite sample size determination method was adopted. With the aid of convenience sampling techniques, structured questionnaires were used to collect the data needed from 384 customers. Data were analyzed using simple percentages, mean, standard deviation and simple linear regression analyses (SLRA). Findings revealed that cultural value explained 41.4% of brand equity. The proposed regression model reaches statistical significance at F (1, 332) = 234.566, p < 0.001 such that there is a statistically significant relationship between the predictor and outcome variable; [t = 15.316, p < 0.001, β = 0.618]. This study made contributions in the following areas. Theoretically, the study added to literature by testing the empirical relationship between cultural values and brand equity. Practically, it suggests to organizations the significance of showcasing their brands with cultural symbolism, values, and associations that resonate with consumers' cultural identities and beliefs. It also informed marketing experts that cultural values influence consumer preferences, behaviors, and purchasing decisions, thereby positively impacting sales revenue. The option of a cross-sectional data collection was adopted in this study which may have limited its outcomes. Hence, the identification of future areas of research has been highlighted.