THE IMPACT OF CHOCOLATE BRAND IMAGE, SATISFACTION, AND VALUE ON BRAND LOYALTY

Abstract: This paper deals with direct effects ofbrand image, satisfaction and value on consumer loyaltytowards branded chocolates. In the empirical research, a model with these four brand dimensions was established to examine different direct effects - how brand image is related to brand satisfaction and its value, and how brand satisfaction is related to brand value. The research was conducted in Bosnia and Herzegovina andincluded 432 respondents based on a snowball sample. The results show that the established structural model is factual,enabling the acceptance of set hypotheses. It has also been proven that the brand satisfaction has the greatest impact on brand loyalty.Based on the findings, the paper additionally contains practical recommendations for production to creating a brand of chocolate.

Keywords: brand image, brand satisfaction, brand loyalty, chocolate brand, structural equation model.

Apstrakt: Ova studija ispituje direktne efekte imidža brenda, zadovoljstva i vrijednosti na lojalnost potrošača prema brendiranim čokoladama. U empirijskom istraživanju, formiran je model sa ove četiri dimenzije brenda za ispitivanje direktnih efekata, kako imidž se odnosi na zadovoljstvo brend i na vrijednost brenda, i kako zadovoljstvo brend utiče na vrijednosti brenda. Istraživanje je provedeno u Bosni i Hercegovini, na 432 ispitanika, koristeći uzorak uzorka “grudve snijega”. Rezultati su pokazali da je strukturni model ispravan, te su prihvaćene postavljene hipoteze. Takođe, je dokazano da zadovoljstvo brenda ima najveći uticaj na lojalnost brenda. Na osnovu dobivenih rezultata date su i praktične preporuke za proizvođače za kreiranje brenda čokolade.

Ključne riječi: imidž brenda, zadovoljstvo brendom, lojalnost brenda, brend čokolade, model strukturalnih jednačina.