Measuring consumer‐based brand equity of prestigious mass brands using masstige mean score scale.

This study aimed to explore the two aspects of the masstige mean score scale (MMSS) in the mobile payment system (MPS) context. The aspects included measuring the masstige value of MPS and validating MMSS as a measure while predicting the brand equity of prestigious mass brands. The research framework was developed by synthesizing the past literature on masstige marketing and brand equity theory. Responses were obtained using a survey of 438 mobile payment application users in India using a structured questionnaire. Masstige mean value of MPS brands was obtained through MMSS. Covariance‐based structure equation modelling established the association between masstige value obtained through MMSS and overall brand equity (OBE). Non‐compensatory data analysis method, artificial neural network (ANN), was used to predict the brand equity of prestigious mass brands with MMSS items as predictors. The analysis of masstige mean value indicated the existence of mass prestige for MPS brands. Furthermore, the path analysis indicated that the masstige value positively contributed to OBE. The ANN's predictive analysis established that MMSS items as predictors are 93% accurate in predicting brand equity for prestigious mass brands. The validation of the prestigiousness of the technology‐based fintech MPS would be helpful to brand managers to target prestige‐seeking consumers and charge a high price for premium and customized services. In addition, the methodology promulgated to predict CBBE of prestigious mass brands based on MMSS items would be helpful to managers in determining brand equity of prestigious mass brands in the emerging economies. This study is the first to empirically validate the MMSS as a measure of brand equity for prestigious mass brands. It would help future researchers propagate the use of MMSS in the study of brand equity in varied contexts; also, this study significantly contributes to the literature on masstige explaining the masstige value of MPS brands in emerging markets. [ABSTRACT FROM AUTHOR]