Estimating stakeholder-based place brand equity: one place, multiple perspectives
DOI:
https://doi.org/10.5585/remark.v21i1.21102Keywords:
Branding, Place Brand equity, Stakeholder-based Place brand equity, Stakeholders, Regional brands.Abstract
Purpose: This study’s objective is to develop and test a stakeholder-based place brand equity (SBPBE) measure on the perspective of multiple stakeholders.
Methodology/Approach: SBPBE is estimated through CB-SEM, using MANOVA to compare the differences and similarities between those who have different interests and behaviors towards the place. Results were based on a survey conducted with the stakeholders of Vale dos Vinhedos, a wine region in Southern Brazil.
Findings: In this place brand equity model, brand loyalty had the greatest effect on place brand equity, followed by perceived value and then brand awareness, that had a negative effect. Stakeholder groups were distinguished based on interest and behavior (frequency of visit and proximity). There was a significant difference in all SBPBE dimensions when comparing the ones with high frequency of visit with the ones with low frequency. In contrast, there were limitations in the SBPBE differentiation among other two grouping approaches.
Theoretical / methodological contributions: There is a predominance of the use of subjective criteria to group stakeholders in previous literature, that limits the performance of comparative studies between different groups and places. This gap is addressed with the development of a framework that considers behavior to form independent groups of stakeholders: community, locals, and tourists.
Relevance / originality: The results support a model proposition to evaluate the perspective of multiple stakeholders on place brand equity based on behavioral data.
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