The Impact of Social Media Marketing on Instagram Towards Brand Equity of Fashion Micro, Small and Medium Enterprises: A Quantitative Study of Parira Clay
The fashion industry has been going through continuously increasing competition. This phenomenon serves as an obstacle, especially for fashion Micro, Small and Medium Enterprises (MSMEs) in building positive and strong brand equity. In this context, brand equity is defined as assets and liabilities that the brand produces to develop a competitive advantage. With the growing usage of social media for business purposes, enterprises start to rely on social media marketing as an attempt to build their brand equity, Parira Clay as a newly established micro fashion enterprise in Indonesia is no exception. This study aims to evaluate whether social media marketing has an impact on the brand equity of Parira Clay. A quantitative approach was applied for this study. The data was collected through online survey distribution to respondents who followed Parira Clay on Instagram and have purchased its products. Data processing methods used were validity and reliability test and assumption test based on Ordinary Least Square requirement. Then, simple and multiple linear regression analysis through Adjusted R-Squared, F-test, and t-test was conducted to analyze the data. The result of this study indicates there is a significant impact of social media marketing on the brand equity of Parira Clay. This study suggests that Parira Clay can rely on its social media marketing use and functionalities in strengthening its brand equity. Social media marketing should be and considered an important tool when building a strong and positive brand equity