Time-honored Brand Attribute And Its Influence On Consumers’ Purchase Intention

The time-honored brands such as Quanjude,White rabbit,Phoenix,and Hui li have influenced the life style of a generation or several generations,and are the window for China’s brand strength and the image of the Chinese nation to show to the world.In 1949,there were about 16,000 time-honored brands in China,mainly distributed in catering,food processing,medicine,silk and other industries.However,as the global economic integration and China’s reform and opening up deepened constantly,a large number of modern brand occupy sharply the Chinese market,the development of Chinese time-honored brands in the local Chinese market encounter cold: in September 2018,according to data from the Ministry of Commerce brand "China time-honored brand" enterprises in our country only 1128,90% of them old brand management in trouble!Numerous time-honored brands are waiting for being saved,Chinese retro brand—Pechoin,the market performance is good.In 2012,Tmall’s flagship store sold more than 15 million yuan on singles’ day.According to the data from taobao in 2013,"Pechoin" has jumped to the top of the list of popular search terms since March 29.In recent years,it has also been active in the public eye with retro products and promotional posters.Therefore,this paper takes nostalgia as the entry point to study the brand attributes of time-honored brands and their influence on consumers’ purchase intention.This paper studies two questions: 1.What are the attributes of time-honored brands?2.How can the attributes of time-honored brands influence consumers’ purchase intention by stimulating consumers’ nostalgia?The research finds that: first,there are four connotation concepts in the attributes of time-honored brands: era culture in urban,traditional fashion on image,public praise in quality and product affinity;Secondly,the attributes of time-honored brands partly affect consumers’ purchase intention through the nostalgic tendency.The positive effects are from large to small: product affinity,era culture in urban,traditional fashion on image and public praise in quality.Among them,product affinity,era culture in urban,traditional fashion on image was supported in statistics;public praise in quality was only partially supported by statistics.This paper enriches the "time-honored brand activation" theory from thefollowing three points: Firstly,in terms of the research content,it discusses the unique differences between time-honored brands and other modern brands,that is,the brand attributes of time-honored brands.Secondly,in terms of research objects,the attributes of time-honored brands can stimulate consumers’ nostalgia to make young and middle-aged consumers have purchase intention.Thirdly,This paper proposes a research model of how the attributes of time-honored brands affect consumers’ purchase intention through the mediation of nostalgia and passes the empirical test.In addition,the practical implications of this study on brand activation management are as follows :(1)time-honored brands in cosmetics,skin care and other related industries can retain the classic and popular products and keep the prices affordable as always;(2)time-honored brands related to catering and food processing industry can focus on mining urban cultural elements of the age,create nostalgic consumption scenes,stimulate nostalgic feelings,and then prompt consumers to have purchase intention;(3)for time-honored brands in related industries,such as clothing,silk cases and bags,the image of time-honored brands can be designed with Chinese style elements,and fashion and literary propaganda words can be injected to arouse the young consumer group’s pursuit of the retro trend and thus generate the purchase intention.