Customer-Based brand equity drivers: A leading brand of beer in Estonia

Coudouna is, Da nis N.; Bjö k, Pe e ; Me s, Tõnis; Asadli, Rus am; Bujac, And eea I.
A icle
Cus ome -Based b and equi y d i e s: A leading b and o
bee in Es onia
Adminis a i e Sciences
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Sugges ed Ci a ion: Coudouna is, Da nis N.; Bjö k, Pe e ; Me s, Tõnis; Asadli, Rus am; Bujac, And eea
I. (2024) : Cus ome -Based b and equi y d i e s: A leading b and o bee in Es onia, Adminis a i e
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Ci a ion: Coudouna is, Da nis N.,
Pe e Bjö k, Tõnis Me s, Rus am
Asadli, and And eea I. Bujac. 2024.
Cus ome -Based B and Equi y
D i e s: A Leading B and o Bee in
Es onia. Adminis a i e Sciences 14: 61.
h ps://doi.o g/10.3390/admsci
14040061
Recei ed: 14 June 2023
Re ised: 20 Feb ua y 2024
Accep ed: 7 Ma ch 2024
Published: 22 Ma ch 2024
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adminis a i e
sciences
A icle
Cus ome -Based B and Equi y D i e s: A Leading B and o Bee
in Es onia
Da nis N. Coudouna is 1,2,* , Pe e Bjö k 1, Tõnis Me s 3, Rus am Asadli 3and And eea I. Bujac 4,5
1Depa men o Ma ke ing, Hanken School o Economics, 65101 Vaasa, Finland; pe e [email p o ec ed]
2Global Online MBA P og ammes, Uni e si y o London, London WC1E 7HU, UK
3School o Economics and Business Adminis a ion, Uni e si y o Ta u, 51009 Ta u, Es onia;
[email p o ec ed] (T.M.); [email p o ec ed] (R.A.)
4Depa men o Business and Sus ainabili y, Uni e si y o Sou he n Denma k, 6000 Kolding, Denma k;
[email p o ec ed]
5Aalbo g Uni e si y Business School, Aalbo g Uni e si y, 9220 Aalbo g, Denma k
*Co espondence: [email p o ec ed]
Abs ac : Based on he us /commi men heo y and he cus ome -based b and equi y heo y, his
s udy aims o asce ain which o he b and equi y d i e s o A. Le Coq bee ha e an impac on
a achmen and i s o e all b and equi y in he Es onian b ewe y ma ke . In o de o achie e his
goal, an empi ical s udy was conduc ed based on he 17 cus ome -based/consume -based b and
equi y models: he 15 b and equi y models, including he bee /be e age b and equi y models, he
2 in e nal b and equi y models, as well as 3 o he ela ed models. The s udy u ilised a sample o
con enience o 120 Uni e si y o Ta u s uden s. The ques ionnai e was placed on Google’s online
su ey adminis a ion se ice. Con i ma o y ac o analysis (CFA) h ough AMOS29 was used o
es ing he i o he model and co a iances ( h ough AMOS29) we e used o es ing he hypo heses.
Addi ionally, - es analysis was used o he di e ences in he means be ween he demog aphic
cha ac e is ics and he i ems o he model. The esul s show ha b and meaning has a s ong posi i e
e ec on a achmen s eng h, which signi ican ly in luences ela ionship ac o s—commi men , us ,
and sa is ac ion. Ano he majo inding is ha he ela ionship ac o s—commi men , us , and
sa is ac ion—play a signi ican ole in he de elopmen o he b and equi y o A. Le Coq bee . This
s udy p o ides use ul insigh s o b ewe y ma ke ing manage s by exploi ing he s ong posi i e
ela ionships ound be ween bee b and equi y d i e s, such as he s ong posi i e ela ionships
ound wi hin consume s o bee , i.e., he ela ionships be ween b and epu a ion and b and image,
b and meaning and a achmen s eng h, a achmen s eng h and commi men , a achmen s eng h
and sa is ac ion, a achmen s eng h and us , sa is ac ion and b and equi y, commi men and b and
equi y, and us and b and equi y. This inding con ibu es o he li e a u e on b and equi y ela ed
o he Es onian en i onmen . Fi e di e ences in demog aphic cha ac e is ics seem o play a ole in
designing s a egies by he managemen eams o di e en b ands o inc easing he consump ion o
hei compe ing b ands o bee . A eplica ion o a model p e iously used o a non-p oduc is pa o
he no el y o his pape . In addi ion, all he examined ela ionships a e ound o be posi i e and
signi ican , which p o ides a con ibu ion o he exis ing li e a u e.
Keywo ds: b and equi y; heo y o us /commi men ; heo y o cus ome -based b and equi y;
b ewe y sec o ; A. Le Coq b and o bee ; Es onia
1. In oduc ion
Al hough cus ome -based b and equi y d i e s ha e a ac ed a lo o a en ion om
schola s in ecen yea s, he amoun o esea ch which analyses he impac o b and eq-
ui y componen s on o e all b and equi y based on empi ical da a is qui e di e en . One
pa icula s udy was conduc ed by Aake (1996, p. 118), who measu ed b and equi y
ac oss p oduc s and ma ke s and concluded ha b and equi y consis ed o loyal y (p ice
Adm. Sci. 2024,14, 61. h ps://doi.o g/10.3390/admsci14040061 h ps://www.mdpi.com/jou nal/admsci
Adm. Sci. 2024,14, 61 2 o 40
p emium and sa is ac ion/loyal y among hose who ha e used he b and), pe cei ed qual-
i y/leade ship (pe cei ed quali y and leade ship), associa ions/di e en ia ion (pe cei ed
alue, pe sonali y, o ganisa ion, and di e en ia ion), awa eness (b and awa eness), and
ma ke beha iou (ma ke sha e and p ice and dis ibu ion indices). Pa k e al. (2010,
p. 33) showed “ he uniquely s ong e ec s o b and a achmen ”, and, la e , his pape was
es ablished as he main e e ence o he b and a achmen cons uc . Allaway e al. (2011,
Table 15, p. 198) de eloped cus ome -based b and equi y d i e s in he supe ma ke in-
dus y, which consis ed o e o , se ice le el, p oduc , p og amme p ices, layou loca ion,
and communi y. Fu he mo e, Jillapalli and Jillapalli (2014) cons uc ed, ad anced, and
empi ically es ed he cus ome -based b and equi y o p o esso s. Bo h cus ome -based
b and equi y models by Dennis e al. (2016), who subsequen ly in es iga ed he b and
equi y d i e s o a chosen highe educa ion ins i u e (HEI), and Jillapalli and Jillapalli’s
(2014) cus ome -based b and equi y model o p o esso s a e conside ed as s a ing poin s
o his esea ch. Finally, Kelle (2016) e ealed o he impo an b anding opics, such as
“unde s anding b and pu pose, na a i es, and s o y- elling, unde s anding b and a chi-
ec u e and b ands mo e holis ically, unde s anding how o de elop imeless, inclusi e
b ands, unde s anding how b and elemen s can wo k oge he , and unde s anding how o
e ec i ely and e icien ly ack b ands” (Kelle 2016, pp. 13–14).
This s udy aims o asce ain whe he he b and equi y componen s o A. Le Coq bee
ha e an impac on i s o e all b and equi y in he Es onian b ewe y ma ke .
Rega ding he esea ch gaps o his s udy, ou in es iga ion is based on a single b and,
speci ically A. Le Coq bee , which is he leading b and in Es onia and in he Bal ic coun ies.
A p e ious empi ical in es iga ion o he an eceden s o b and equi y in he be e age
indus y in Tu key (A ilgan e al. 2005) ound only he ela ionship be ween pe cei ed
quali y and b and equi y o be signi ican . Mo eo e , i is wo h men ioning he wo
p e ious s udies ocusing on CEE’s b ewing indus y by La imo e al. (2006) and La imo
e al. (2011). Ano he s udy ocused on he Es onian bee ma ke was pe o med by La imo
e al. (2013), bu no on he an eceden s o he b and equi y o bee s in Es onia. The e o e,
he main esea ch gap o he cu en s udy is o empi ically in es iga e he an eceden s o
he b and equi y o he A. Le Coq b and o bee in Es onia. Mo eo e , he e a e i e s udies
on he dimensions o bee b and equi y in di e en coun ies, such as in Thailand by Aimkij
and Muj aba (2010), in Spain by Po al e al. (2013), in Uganda by Agaba and Emenike
(2019), in Nige ia by Odeleye (2021), and in I aly by F ancioni e al. (2022). The s udy by
Agaba and Emenike (2019) es ed he i e dimensions o b and equi y in oduced by Aake
(1991), including pe cei ed quali y, b and awa eness, b and associa ions, b and loyal y,
and o he p op ie a y b and asse s, in a eg ession analysis. Bo h s udies by A ilgan e al.
(2005, p. 246) and Po al e al. (2013, p. 86) using s uc u al equa ion modelling empi ically
es ed he ou an eceden s o bee b and equi y, namely, pe cei ed quali y, b and loyal y,
b and awa eness, and b and associa ions. The s udy by F ancioni e al. (2022, p. 510) used
s uc u al equa ion modelling o es h ee an eceden s o o e all b and equi y, namely,
b and awa eness/associa ions, pe cei ed quali y, and b and loyal y. The h ee s udies by
A ilgan e al. (2005), Po al e al. (2013), and F ancioni e al. (2022) showed ha he impac
o b and loyal y o b and equi y was impo an , signi ican , and posi i e. Bea ing in mind
hese esul s, he p esen s udy uses he in e nal b and equi y model by Dennis e al. (2016)
o empi ically es he an eceden s o he bee b and equi y o A. Le Coq by u ilising he
s uc u al equa ion modelling o he CFA. Th ough hese in es iga ions, compe ing b ands
o bee can ind a lo o in e es ing esul s when modi ying hei s a egy in hese ma ke s.
None o he exis ing esea ch has ocused on he success ul b and o A. Le Coq bee in he
Es onian ma ke and/o in Bal ic coun ies.
Bee has become he mos popula alcoholic be e age in Es onia, whe e i s consump-
ion was 80 million li es in 2018 o he pe capi a consump ion was 60.51 li es in 2018
(based on he o al popula ion o Es onia in 2018—h ps://www.wo ldome e s.in o/wo ld-
popula ion/es onia-popula ion/), which was highe han he EU-27 a e age (B ewe s o
Eu ope 2020). Es onia held second place in he Bal ic Sea egion and ou anked Finland in
Adm. Sci. 2024,14, 61 3 o 40
bee consump ion in 2016 (B ewe s o Eu ope 2020). As epo ed by he B ewe s o Eu ope,
in 2018, 93.5 million li es o bee was consumed in Es onia, which was 90.5 million and
88.8 million li es o bee in 2017 and 2016, espec i ely. The pe capi a consump ion o bee
in Es onia has emained qui e s able o e he yea s be ween 2015 and 2018, wi h a ound 81
million li es o bee on a e age (B ewe s o Eu ope 2020).
The Es onian b ewe y ma ke is he smalles bo h in Cen al and Eas e n Eu ope (CEE)
and he Commonweal h o Independen S a es (CIS), and is highly concen a ed, wi h wo
majo playe s—A. Le Coq and Saku— oge he possessing a ound 80 pe cen o he ma ke
sha e (La imo e al. 2013).
Ma ke esea ch by Williams and Ma shall S a egy 2020 indica es ha he bee ma ke
in Es onia, which has a high deg ee o compe i ion, was wo h USD 269 million in 2014.
Recen ma ke ends indica e ha he local bee ma ke is expanding, wi h he numbe
o local mic ob ewe ies inc easing by a ound 20 pe cen pe yea (In es in Es onia 2019).
E en hough he ma ke sha e o hese mic ob ewe ies is only a ound 1.5% o he o e all
Es onian bee ma ke , hey can s ill igge compe i ion in he ma ke , and hus bene i
cus ome s in he long un (In es in Es onia 2019).
A. Le Coq has su i ed al eady o mo e han 200 yea s and h ough many wa s.
Du ing his pe iod, A. Le Coq in es ed a lo in o new echnology, inno a ion, and machine y.
The e o e, i can be called a sus ainable b ewe y, managing he wo wo ld wa s, Russian
ule, and, la e , he di icul ansi ion yea s a e he new independence in 1991.
The A. Le Coq b ewe y ecei ed i s name om Albe Le Coq, whose oo s his o ically
go back o Ge many and England. Impe ial S ou bee expo om London o S . Pe e sbu g
was eplaced by p oduc ion in he hen Russian Tsa is p o ince o Ta u, Es onia, in 1913
(Co nell 2017). Wi h he independence o Es onia in 1918, A. Le Coq’s ma ke became
Es onia. Ha ing su i ed So ie annexa ion in 1940, Ge man occupa ion in 1941–1944, and
So ie ule again, he o me name o he s a e-owned b ewe y subsequen ly disappea ed
om use. When Es onia egained i s independence in 1991, he s a e-owned b ewe y was
soon a e wa ds p i a ised, in 1995. Since 1997, A. Le Coq has belonged o he Ol i G oup
(Finland) (Co nell 2017). O he sis e companies unde hei local names in he Bal ics also
belong o he same g oup. The adema k o he b ewe y A. Le Coq was es o ed in 1999.
So d inks and mainly ligh bee a e now p oduced. The annual sales olume is close o
one hund ed million eu os. Expo s accoun o app oxima ely a qua e o A. Le Coq’s
p oduc ion (A. Le Coq 2021).
E en hough bee has main ained i s leade ship posi ion as he mos popula alcoholic
be e age in Es onia, he e is a lack o academic esea ch on bee b and alue om he
cus ome ’s pe spec i e. A case s udy conduc ed by La imo e al. (2013) in es iga ed
he ac o s ha a ec he ma ke sha e o Es onian b ewe ies, mainly concen a ing on
companies’ ma ke ing s a egies and discussing hei ma ke ing-mix ac i i ies. A he same
ime, i mus be aken in o conside a ion ha consume s’ pu chasing beha iou is s ongly
a ec ed no only by he p ice o quali y o a p oduc , bu also i s b and equi y (Po al e al.
2013). The e o e, in es iga ing he cus ome -based b and equi y d i e s o A. Le Coq bee
will lead o insigh ul indings.
The acquisi ion o A. Le Coq in 1995 by he Finnish company Ol i Oyj b ough back
no only he company’s adema k, which had been changed o Ta u Õlle ehas du ing he
So ie e a, bu also i s heydays, which hen seemed a away because o a long pe iod o
unsuccess ul p i a isa ion a emp s. This hando e was conside ed a miles one o A. Le
Coq, since i played a majo ole in egaining i s ma ke sha e and compe i i eness. As a
esul o immedia e in es men s by he pa en company, Ol i Oyj, bee p oduc ion capaci y
hi 30 million li es in 1999, up om 13.5 million li es in 1995 be o e he acquisi ion (La imo
e al. 2013).
The e o e, he eason behind he selec ion o A. Le Coq o he p esen s udy is he
company’s long- e m exis ence o mo e han wo cen u ies, i s s ong epu a ion o being
he mos inno a i e bee manu ac u e , and being he ma ke leade in Es onia. Howe e ,
in his pape , he au ho s concen a e solely on he b ewe y side o A. Le Coq, and he
Adm. Sci. 2024,14, 61 4 o 40
indings do no ha e ele ance o he co po a e b and o A. Le Coq and o he indi idual
b ands o A. Le Coq o di e en ypes o p oduc s. Acco ding o La imo e al. (2011),
“CEE has played a signi ican ole in he g ow h s a egies o Eu opean b ewe ies. This
p ocess has been la gely helped by he economic and poli ical changes aking place in he
egion since 1989” (La imo e al. 2011, p. 89). Fu he mo e, he d ama ic inc ease in he
consump ion o bee a e he collapse o he USSR in Cen al–Eas e n Eu ope (see La imo
e al. 2006, Table II, p. 374), speci ically in Es onia, has helped A. Le Coq o inc ease i s
p oduc ion o bee alongside he Eu opean b ands which en e ed he coun y.
The ollowing wo esea ch ques ions a e se o his s udy: (i) Wha a e he b and
equi y d i e s o a bee b and, i.e., A. Le Coq bee ? and (ii) Which a e he signi ican and
impo an ela ionships?
In o de o answe he abo e esea ch ques ions, an empi ical s udy was conduc ed
based on Jillapalli and Jillapalli’s (2014) and Dennis e al.’s (2016) cus ome -based b and
equi y models. The objec i es o his pape we e i s ly o compa e he possible di e ences
be ween di e en segmen s o he sample. Secondly, by pe o ming a eg ession analysis,
we un eil he ela ionships be ween b and equi y componen s and he o ma ion o he
b and equi y o a bee b and, and indica e whe he hese ela ionships a e signi ican o
no . Thi dly, he con i ma o y ac o analysis (CFA) app oach was employed o es ing he
badness-o - i o he model o he da a and e alua ing he eliabili y e sus he alidi y.
This esea ch con ibu es o he exis ing li e a u e on bee b and equi y, and speci ically
on he in e nal b and equi y. The pu pose o his s udy is o explo e he signi ican and
impo an ac o s o b and equi y in he bee indus y in Es onia. In pa icula , we ocused
on he A. Le Coq b and in he Es onian ma ke , and we ha e added aluable insigh s o he
cu en body o knowledge in his ield. The managemen eam o A. Le Coq bee b and
should hink mo e cons uc i ely abou how o imp o e he cus ome ’s commi men o,
us in, and sa is ac ion wi h he A. Le Coq bee b and. One can hink ha us in e links
wi h commi men , and he e a e ways o boos his ela ionship by ad e ising wi hin
he ela ionships o he a achmen s eng h–commi men – us –sa is ac ion–bee b and
equi y o A. Le Coq. This s udy e eals ha he e a e impo an , posi i e, and signi ican
ela ionships be ween b and epu a ion and b and meaning, us and bee b and equi y,
commi men and bee b and equi y, and sa is ac ion and bee b and equi y. This s udy
shows he impo ance o he ou an eceden s o a achmen s eng h, eelings owa ds
he bee b and, commi men / us ela ionship o consume s owa ds he bee b and, and
consume s’ sa is ac ion wi h he bee b and and hei impo an , posi i e, and signi ican
ela ionships owa ds he bee b and equi y.
In addi ion, his esea ch es s he ecological alidi y o he cus ome -based b and
equi y model de ised by Jillapalli and Jillapalli (2014) in o de o see whe he he esul s
would hold in a di e en con ex — he Es onian b ewe y ma ke . Since a case s udy
app oach is employed o he example o A. Le Coq, his esea ch con ibu es o he
sca cely in es iga ed a ea o he b and equi y o b ewe ies, as well as p o iding p ac ical
implica ions o b ewe y ma ke ing manage s, such as employing policies wi h use ul
insigh s in o he de elopmen o s ong posi i e ela ionships be ween some cus ome -
based b and equi y d i e s. Addi ionally, a u he con ibu ion o his s udy lies in he
ac ha i uses es ablished cons uc s om o he con ex s—speci ically, measu ing bo h
he b and equi y o uni e si ies, Dennis e al. (2016), and he b and equi y o p o esso s,
Jillapalli and Jillapalli (2014)—and ans e ing hem o he case o A. Le Coq bee in Es onia.
The es o he pape is s uc u ed as ollows. A li e a u e e iew and concep ual
model a e p esen ed and discussed in Sec ion 2, whe e he main b and equi y concep s a e
p esen ed and hypo heses a e in oduced. Then, we explain he adop ed me hodology in
Sec ion 3, alongside da a desc ip ion and desc ip i e s a is ics. Sec ion 4is dedica ed o
he indings and hei in e p e a ion. Mo eo e , Sec ion 5discusses he indings and, in
pa icula , ha he es ed model e eals some in e nal s ong posi i e ela ionships ha
manage s should exploi . Finally, he pape concludes by p o iding an o e iew o he

Adm. Sci. 2024,14, 61 5 o 40
s udy in Sec ion 6, and heo e ical and manage ial implica ions oge he wi h limi a ions
and u u e esea ch a e discussed.
2. Li e a u e Re iew
2.1. Theo e ical Backg ound
The heo y o us /commi men and he cus ome -based b and equi y heo y a e
used in his s udy. The s udy conside s ha b and equi y is a iable, depending on
he us /commi men ela ionship be ween he consume s o A. Le Coq bee and he
speci ic i m.
2.1.1. T us /Commi men Theo y
Wha is mos impo an is how weak o s ong he us /commi men ela ionship is
be ween consume s and he i m. In a s udy by Hwang and Bu ge s (1997, p. 70) on he
p ope ies o us , i is poin ed ou ha us is “a necessa y bu no su icien condi ion o
coope a ion and ha us suppo s coope a ion h ough easing wo e y di e en ypes
o isks, namely, he isk o being ic imized and he isk o losing a us wo hy pa ne ”.
Addi ionally, he au ho s conclude ha : “while us elimina es all ea , ull us does no
elimina e all g eed” (Hwang and Bu ge s 1997, p. 70).
Fu he mo e, Hwang (2006, pp. 423–38) a gues ha he us and ime ho izon a e
impo an in a ela ionship. Acco ding o ha s udy, he ime ho izon depends on he
exis ing and u u e en i onmen al pa ame e s ha he ela ionship may encoun e .
Mo gan and Hun (1994) we e wo o he au ho s who used he heo y o us o
commi men a ec , meaning ha “success ul ela ionship ma ke ing equi es ela ionship
commi men and us ”, and hey conside ed ha “commi men and us a e key media ing
a iables in hei model” (Mo gan and Hun 1994, p. 20). The model by Mo gan and Hun
(1994) shows ha he e is a posi i e and signi ican e ec o us on commi men . Acco ding
o Mo gan and Hun (1994), us and commi men a e a he cen e o any success ul
ela ionship wi h cus ome s. Simila ela ionships exis in ano he model de eloped by
Money e al. (2007, Figu e 2.4, p. 42), showing ha non-ma e ial bene i s a e a media o
be ween commi men and us . This s udy shows a posi i e and signi ican ela ionship
be ween us , non-ma e ial bene i s, and commi men . In a ecen s udy, B own e al. (2019,
p. 155) ound ha while us enhances commi men , commi men can also e ode us .
2.1.2. Cus ome -Based B and Equi y Theo y e sus Consume -Based B and Theo y
In he exis ing li e a u e o b and equi y, he e a e wo simila heo ies, namely, he
cus ome -based b and equi y heo y and he consume -based b and equi y heo y. The
di e ence be ween hem is ha he cus ome s a e speci ic pe sons wi h some dis inc
cha ac e is ics, whe eas he consume s include pe sons om a wide ange o cha ac e is ics.
The cus ome -based b and equi y heo y was de eloped by Aake (1991) and Kelle
(1993). The concep ual model by Aake (1991) includes ou cons uc s/dimensions, namely,
b and awa eness, pe cei ed b and quali y, b and associa ions/di e en ia ion, and b and
loyal y. B and loyal y is conside ed he mos e ec i e dimension o b and equi y.
Kelle (1993), based on Aake ’s (1991) wo k, o e s an al e na i e model. The concep-
ualisa ion o CBBE by Kelle (2003) sugges s ha “cus ome -based b and equi y occu s
when he consume has a high le el o awa eness and amilia i y wi h he b and and
holds some s ong, a ou able, and unique b and associa ions in memo y” (Kelle 2003,
p. 67). Kelle ’s (2003) CBBE is de ined as “ he di e en ial e ec o b and knowledge on
consume esponse o he ma ke ing e o s o he b and”. B and knowledge consis s o
wo dimensions, namely, b and awa eness and b and image. Pa k and S ini asan (1994)
a gued ha b and associa ions a e he ounda ions o b and equi y, and hey di ided b and
equi y in o a ibu e-based and non-a ibu e-based ac o s. Acco ding o E dem and Swai
(1998), CBBE is de ined as he alue o a b and signal o consume s.
Adm. Sci. 2024,14, 61 6 o 40
In hei model, Tolba and Hassan (2009) linked cus ome -based b and equi y wi h b and
ma ke pe o mance based on da a om he US au omo i e ma ke . Thei indings showed
ha cus ome -based b and equi y cons uc s co ela ed wi h b and ma ke pe o mance.
F om he poin o iew o Ch is odoulides and De Che na ony (2010), wo esea ch
s eams, namely, cogni i e psychology and in o ma ion economics, a e complemen a y,
and hey p oposed a de ini ion o CBBE ha con ained elemen s om bo h, i.e., “a se o
pe cep ions, a i udes, knowledge, and beha io s on he pa o consume s ha esul s in
inc eased u ili y and allows a b and o ea n g ea e olume o g ea e ma gins han i could
wi hou he b and name” (Ch is odoulides and De Che na ony 2010, p. 48).
A s udy by Allaway e al. (2011) concluded ha he d i e s o cus ome -based b and
equi y o supe ma ke s a e he se ice le el, p oduc quali y and asso men , p og ammes
o ewa ding pa onage, e o expended in keeping cus ome s, p ices, layou , and loca ion.
Fu he mo e, Nam e al. (2011) in oduced a CBBE model o se ices based on se en
dimensions, namely, physical quali y, s a beha iou , ideal sel -cong uence, b and iden i ica-
ion, li es yle cong uence, b and sa is ac ion, and b and loyal y. This model excluded b and
awa eness, al hough p e ious models by Aake (1991) and Kelle (1993) used his dimension.
In his e lec ions on cus ome -based b and equi y, Kelle (2016) pu emphasis on he
online and digi al de elopmen s ha ha e happened since his a icle in 1993 (Kelle 1993).
A s udy by Velou sou e al. (2013) e ealed a axonomy o measu es/dimensions o
consume -based b and equi y among 13 s udies du ing he pe iod 1993–2010. Mo eo e ,
in a s udy by Ch is odoulides e al. (2015), he dimensions o CBBE, speci ically, b and
awa eness, b and associa ions, and b and loyal y, could no always be clea ly iden i ied
in all na ional con ex s, i.e., he UK, Ge many, and G eece. Fu he mo e, in ano he s udy
by Pham (2019), companies in Vie nam showed ha c ea ing b and awa eness, as well as
b and loyal y and inc easing pe cei ed quali y, we e he mos in luen ial an eceden s o
he consume -based b and equi y o consume goods e aile s.
Acco ding o Cha zipanagio ou e al. (2016), “Consume -based b and equi y ocuses
on consume s and ep esen s posi i e business ou comes” (Cha zipanagio ou e al. 2016,
p. 5479). The i o hei con igu al model (Cha zipanagio ou e al. 2016, Figu e 1, p. 5481),
which was composed o a b and building block, b and unde s anding block, b and e-
la ionship block, and CBBE, was no es ed, and one wonde s i i is p ac ically possible
o es i wi h one o many se s o da a, and wha he eliabili y and alidi y is o his
model. Addi ionally, Cha zipanagio ou e al. (2019) es ed, in G eece and Ge many, hei
i e-cons uc concep ual amewo k om 2016 (Cha zipanagio ou e al. 2016), including
he b and building block (b and pe sonali y, b and nos algia, b and he i age, b and quali y,
b and compe i i e ad an age, and b and leade ship), b and unde s anding block (b and
awa eness, b and associa ions, b and epu a ion, and b and sel -connec ion), b and ela-
ionship block (b and us , b and ele ance, b and in imacy, and b and pa ne quali y),
o e all b and equi y, and consume s’ beha iou al ou comes (in en ion o pay mo e o he
b and, in en ion o ecommend he b and, and in en ion o epu chase he b and). Mo e
ecen ly, Velou sou e al. (2020) es ed hei ini ial model om 2016 (Cha zipanagio ou
e al. 2016) consis ing o ou dimensions, i.e., he b and building block (b and pe sonali y,
b and nos algia, b and he i age, b and quali y, b and compe i i e ad an age, and b and
leade ship), he b and unde s anding block (b and awa eness, b and associa ions, b and
epu a ion, and sel -b and connec ion), he b and ela ionship block (b and us , b and
ele ance, b and in imacy, and b and pa ne quali y), and he o e all b and equi y, o
unliked b ands. Thei indings showed ha sel -b and connec ion and pa ne quali y we e
he key links o he decons uc ion and es o a ion o CBBE.
In ecen yea s, a ious s udies ha e in es iga ed p oduc ca ego ies and b ands,
and commen ed on consume -based b and equi y (Hakala e al. 2012;Çi ci e al. 2016;
Cha zipanagio ou e al. 2016; and Sa ke e al. 2021).
Hakala e al. (2012) explo ed he ela ionships be ween consume s’ awa eness o
b ands, a i udes ela ed o b and equi y, and changes in cul u al con ex . They ound ha
he ou dimensions o b and equi y co- a y depending on he cul u al con ex .
Adm. Sci. 2024,14, 61 7 o 40
Çi ci e al. (2016) compa ed he alidi y o he models o Yoo and Don hu (2001) and
Nam e al. (2011) and ound ha Nam e al.’s (2011) model had be e alidi y han Yoo
and Don hu’s (2001) model. Kuma (2013) ound ha he b and expe ience dimensions
(senso y, a ec i e, beha iou al, and in ellec ual) posi i ely in luenced he i e b and
equi y dimensions (b and awa eness, b and associa ion, pe cei ed quali y, b and us , and
b and loyal y).
Finally, h ee au ho s, namely, Velou sou, Ch is odoulides, and Cha zipanagio ou,
ha e, in ecen yea s, de eloped a i e-cons uc model indica ing he dimensions o CBBE
(Cha zipanagio ou e al. 2016,2019;Velou sou e al. 2020). I is wo h no ing ha he s udy
by Velou sou e al. (2013) includes a able wi h he a ious dimensions o CBBE in ela ion
o 13 s udies du ing he pe iod 1993–2010.
2.2. CBBE in Di e en Concep ual and Empi ical Models du ing he Pe iod 1993–2021 and O he
Rela ed Cons uc s
Table 1 e eals he e olu ion o cus ome -based b and equi y e sus consume -based
b and equi y since he seminal wo k o Kelle (1993) on cus ome -based b and equi y.
Among he 37 a icles included in Table 1, he e a e a leas 17 which e e o CBBE (see
A/A: 1, 4–6, 8–13, 16, 18–19, 28–29, 33, and 37), 9 on b and equi y (see A/A: 20–22, 25–26,
30, and 34–36), 5 on bee b and equi y (2–3, 7, 17, and 23), 1 on be e age b and equi y (31),
2 on in e nal b and equi y (see A/A: 14 and 23), and 3 on ela ed issues (see A/A: 15, 27,
and 32). In ou esea ch in Table 1, he e a e ou esea ch s eams, including s udies on
CBBE, in e nal b and equi y, b and equi y, and o he s on ela ed issues. Howe e , none o
hem ha e s udied he success ul b and o A. Le Coq in he Es onian ma ke .
Table 1. De e minan s o models on cus ome -based b and equi y e sus consume -based b and
equi y, in e nal b and equi y, and ela ed cons uc s du ing he pe iod 1993–2023 *.
A/A Au ho s and Yea
o Publica ion
Name o
Jou nal Sample Size Key Cons uc s in he
Model Commen s on he Model
1. Velou sou (2023)Jou nal o B and
Managemen Concep ual
B and-building and
audience esponse
amewo k
Consume -based b and equi y:
b and-building block
2. F ancioni e al.
(2022)
B i ish Food
Jou nal
401 I alian s uden
bee consume s
Dimensions o o e all
b and equi y we e b and
awa eness/associa ions,
pe cei ed quali y, and
b and loyal y.
COO image, WOM, and
b and dis inc i eness
we e in luencing b and
awa eness/associa ions,
pe cei ed quali y, and
b and loyal y
B and loyal y was he mos
impo an dimension impac ing
signi ican ly and posi i ely on
o e all b and equi y. The COO
image was he mos impo an
cons uc , impac ing
signi ican ly and posi i ely on
he pe cei ed quali y
3. Odeleye (2021)
In e na ional
Jou nal o
Business,
Economics &
Managemen
175 employees o
Guinness Nige ia
Plc (100), Edo S a e
(52), and Nige ian
B ewe ies Plc (23)
The e ec o b and
equi y on ma ke ing
pe o mance
B and loyal y and b and
associa ions we e posi i e and
signi ican ac o s o ma ke ing
pe o mance
4. Sa ke e al. (2021)
Jou nal o
Re ailing and
Consume
Se ices
A sel -adminis e ed
ques ionnai e was
dis ibu ed o
ai line passenge s;
778 su eys we e
e u ned
A consume -based
se ice b and equi y
(CBSBE) model in he
ai line indus y
Se ice b and equi y
Adm. Sci. 2024,14, 61 8 o 40
Table 1. Con .
A/A Au ho s and Yea
o Publica ion
Name o
Jou nal Sample Size Key Cons uc s in he
Model Commen s on he Model
5. Velou sou e al.
(2020)
Jou nal o
Business
Resea ch
300 ques ionnai es Consume -based b and
equi y
Fi een measu es o b and
cons uc s, namely, b and
he i age, b and pe sonali y,
b and nos algia, b and
pe cei ed quali y, b and
leade ship, b and compe i i e
ad an age, b and awa eness,
b and associa ions, b and
epu a ion, b and
sel -connec ion, pa ne quali y,
b and in imacy, b and us ,
b and ele ance, and o e all
b and equi y
6. Zollo e al. (2020)
Jou nal o
Business
Resea ch
326 ollowe s o
luxu y ashion
b ands on social
media
Social media ma ke ing
o consume -based
b and equi y
ela ionship
Social media ma ke ing
ac i i ies, b and expe ience, and
social media bene i s associa e
wi h consume -based b and
equi y
7. Agaba and
Emenike (2019)
In e na ional
Jou nal o
Managemen
and Ne wo k
Economics
312 esponden s
using di e en
bee b ands (Eagle,
Nile, Club, Sena o ,
and local bee s)
The e ec o b and
equi y (b and awa eness,
b and associa ion,
pe cei ed quali y, b and
loyal y, and o he
p op ie a y b and asse s)
on compe i i e
ad an age
B and awa eness, b and
associa ion, pe cei ed quali y,
and b and loyal y ha e
signi ican and posi i e e ec s
on he compe i i e ad an age
8. Iglesias e al.
(2019)
Jou nal o
Business
Resea ch
1739 cus ome s
Senso y b and
expe ience in luence
b and equi y
Senso y b and expe ience,
cus ome a ec i e commi men ,
and cus ome sa is ac ion
associa e wi h b and equi y
9. Cha zipanagio ou
e al. (2019)
In e na ional
Business Re iew
Samples om
G eece (312) and
Ge many (301)
Consume -based b and
equi y p ocess in
di e en coun ies
The model includes a b and
building block, a b and
unde s anding block, a b and
ela ionship block, he o e all
b and equi y, he in en ion o
pay mo e, b and
ecommenda ion, and he
in en ion o epu chase
10. Augus o and
To es (2018)
Jou nal o
Re ailing and
Consume
Se ices
280
A ull media ion o
consume -based b and
equi y be ween b and
a i ude and he
willingness o cus ome s
o pay p emium p ices
The model includes b and
a i ude, elec onic
wo d-o -mou h,
consume –b and iden i ica ion,
and consume -based b and
equi y, which in luence he
willingness o pay a p emium
p ice
11. Kelle (2016)
Academy o
Ma ke ing
Science Re iew
Concep ual Cus ome -based b and
equi y
B and esonance model: i
includes, in a py amid,
esonance, judgmen s, eelings,
pe o mance, image y, and
salience
Adm. Sci. 2024,14, 61 15 o 40
ma ke . Simila esea ch was conduc ed by Vinh (2017) in in es iga ing he b and equi y
o Heineken in he Vie namese bee ma ke . The esul s om bo h s udies seem o be
in line wi h p eceding ones, as he impac o b and equi y dimensions on he o e all
b and equi y is no ewo hy. Vinh e al. (2019) in es iga ed empi ically he impac o social
media communica ion on b and equi y. Acco ding o hem, b and awa eness/associa ion,
pe cei ed quali y, and b and loyal y di ec ly in luence o e all b and equi y.
Resea ch by Be y (2000) on he b anding ac i i ies in se ice companies s essed
how c ucial i is o ha e s ong “b and equi y”, as hese companies do no ha e any
angible asse s ha can be used o communica e wi h po en ial consume s. The au ho
demons a ed he b and-building e o s by using he “se ice-b anding model”, which
displays he building blocks o he se ice b and and how hey a e connec ed o each o he ,
emphasising ha b and building is no speci ic o only angible p oduc s, whils se ice
companies bene i om b anding ac i i ies in o de o each cus ome s in p o iding hem
wi h assu ance abou he se ice.
While mos concep ual and empi ical s udies concen a e on he p oduc side o he
b anding, some schola s y o d aw a en ion o he concep o “co po a e b and” (Balme
1995;Ha ch and Schul z 2001;Ind 1997;Syed Alwi and Da Sil a 2007). The co po a e b and
seems o ha e a signi ican e ec on he cus ome ’s pu chasing beha iou , whe e i can be a
sign o high quali y and sa is ac ion (Balme and G ay 2003;Syed Alwi and Da Sil a 2007).
Syed Alwi and Da Syed Alwi and Da Sil a (2007) conduc ed an empi ical s udy in o de o
ind ou he locomo i e ac o s o co po a e b and image in he online en i onmen by using
De Che na ony and Ch is odoulides’s (2004) “ iangle amewo k o co po a e b ands”.
The au ho s summa ise hei esea ch by emphasising he impo ance o pe sonalisa ion
and secu i y, which can help he company o enhance he co po a e b and image in an
online se ing, while also men ioning he no able impac o cus ome ca e and ease o
use. In ano he s udy, Da Sil a and Alwi (2008) e ealed ha co po a e b and image can
also ha e a di ec posi i e ela ionship wi h consume loyal y. Mo eo e , Sandbacka e al.
(2013) discussed co po a e b and-building ac i i ies in he business- o-business con ex ,
and modelled hese ac i i ies in sepa a e bu ela ed blocks. The main ocus o he esea ch
(Sandbacka e al. 2013) is mic o-indus ial se ice companies, whe e he con ibu ion and
pa icipa ion o all s akeholde s in he co po a e b and-building p ocess a e emphasised.
B and-building ac i i ies a e applicable no only o p oduc s o se ices, bu also
people, e en s, poli ical pa ies, places, o e en concep s o isions (Ko le and Kelle
2012;Kuhn e al. 2008). While mos o he li e a u e ocuses on b anding s a egies in
he business- o-consume (B2C) con ex , Kuhn e al. (2008) endea ou ed o unco e he
impo ance o b anding in a business- o-business se ing and i s easibili y. This pape
a emp s concep ualise he b and equi y model in a B2B con ex using Kelle ’s (2003)
cus ome -based b and equi y model as a basis. We emphasise he obse ed di e ences in
he pu chasing beha iou s o o ganisa ional buye s, and p esen a modi ied e sion o he
CBBE model in o de o con ibu e o b anding e o s in he B2B con ex .
In o de o pe o m success ul b anding ac i i ies, manage s should answe he ollow-
ing ques ion: Will hese ac i i ies posi i ely a ec he consume ’s pu chasing beha iou ,
o will he e be any signi ican imp o emen in he b and–buye ela ionship? This is
because no e e y b and esponds in he same way o b anding e o s depending on i s
ca ego y cha ac e is ic, as a gued in he esea ch by Fische e al. (2010). These au ho s
discuss whe he b anding-making ac i i ies hold he same deg ee o impo ance o e e y
b and, and meanwhile examine hei ( e e ing o b and-making ac i i ies) impac on
he company’s economic si ua ion. While explaining why b ands a e impo an o bo h
consume and company, wo elemen s a e emphasised: he b and’s isk educ ion and
sel -exp ession aspec s. Fische e al. (2010) sugges a new concep ual amewo k, namely,
BRiC (b and ele ance in ca ego y), and s eng hen i wi h empi ical da a ele an o
20 di e en p oduc ca ego ies. Based on he indings, some manage ial ecommenda ions
a e se ou ha can be bene icial o posi ioning he company’s b and-building e o s.

Adm. Sci. 2024,14, 61 16 o 40
2.4. Hypo heses Building and he Concep ual Model
The p esen ed concep ual model o un eiling he b and equi y o A. Le Coq bee ,
which is based on he s udy by Dennis e al. (2016) and pa ly on Jillapalli and Jillapalli
(2014), con ains 12 hypo heses and 9 cons uc s. Jillapalli and Jillapalli (2014) buil his
concep ual model on he basis o Kelle ’s CBBE model (Kelle 1993,2001) and ela ionship
ma ke ing heo y, and pe o med i in he con ex o p o esso b ands in o de o elici i s
an eceden s and he ela ionships be ween b and cha ac e is ics. In he esea ch o his
s udy, we u ilise an adap a ion o his concep ual model by Dennis e al. (2016), whe e
he b and cha ac e is ics—b and image, b and meaning, and b and iden i y—a e added
as an eceden s o he a achmen s eng h and emphasise he impac o epu a ion on
b and cha ac e is ics. O cou se, he model by Dennis e al. (2016) was no assessed on
p oduc s. Howe e , ou s udy adap ed he model o Dennis e al. (2016) on he p oduc
o he leading b and o bee in he Es onian ma ke . Also, he connec ions be ween he
a achmen s eng h and ela ionship ac o s, namely, commi men , us , and sa is ac ion,
a e depic ed in ou concep ual model and a e easy o disce n. The concep ual model shown
in Figu e 1is inalised by displaying he e ec o he ela ionship ac o s on he b and
equi y o A. Le Coq bee .
Adm. Sci. 2024, 14, x FOR PEER REVIEW 17 o 42
Figu e 1. P oposed concep ual model o b and equi y o A. Le Coq bee —adap ed om he s udy
by Dennis e al. (2016, p. 3051).
2.4.1. The Impac o Repu a ion on B and Cha ac e is ics
Repu a ion can be de ined as a a ou able iew ha cus ome s hold, whe e hey di -
e en ia e a ce ain b and om ano he by e alua ing i s o e all alue and u ili y
(Bha acha ya and Elsbach 2002; Jillapalli and Jillapalli 2014). Rope and Fill (2012) explain
epu a ion as a summa y ha combines a ious iews and pe cep ions sha ed by di e en
people. In o he wo ds, b and epu a ion can be seen as an impo an indica o ha dis-
plays how well he b and pe o ms in he ma ke in compa ison wi h i s compe i o s (Den-
nis e al. 2016). Dennis e al. (2016) ound posi i e e ec s o epu a ion o b and image,
b and meaning, and b and iden i y. I is wo h men ioning ha Dennis e al. (2016, Table
4, p. 3054) ound ha epu a ion had a s ong posi i e e ec on b and meaning.
Chaudhu i (2002) emphasises he impo ance o b and epu a ion and e e s o i as an
impo an ool, since i plays an immense ole in making s a egic manage ial decisions.
I is men ioned ha cul i a ing a posi i e epu a ion is i al in o de o become success ul
and p o i able in he ma ke (He big and Milewicz 1993) whils equi ing p ope b anding
and o e all ma ke ing ac i i ies. Repu a ion has an impac on he de elopmen o b and
image by c ea ing b and awa eness, which boos s b and image (Jillapalli and Jillapalli
2014; Kelle 2001). Ano he explana ion o b and epu a ion is gi en by Van Vugh (2008),
who alks abou i as a cumula i e ou come o se e al ac i i ies in o de o gene a e an
ex e nal image. Repu a ion is discussed by Bosch e al. (2006) as a a iable ha c ea es a
b and iden i y, whe e he posi i e impac o epu a ion on b and iden i y is empi ically
es ed and con i med. Velou sou and Mou inho (2009) s ess he impo ance o b and
meaning in a decision-making p ocess whe e cus ome s de elop he symbolic meaning o
b and h ough i s epu a ion. Escalas and Be man (2005) also sugges ha he epu a ion
o a ce ain b and among he e e ence g oup plays a signi ican ole in i s selec ion, whe e
he au ho s ega d e e ence g oups as a sou ce o b and meaning. Fu he mo e, he s udy
by Jillapalli and Jillapalli (2014, Table 3, p. 35) e ealed ha epu a ion was nega i ely
ela ed o a achmen s eng h, and he e o e his ela ionship was no suppo ed. Addi-
ionally, he s udy by Dennis e al. (2016, Table 4, p. 3054) ound ha epu a ion o he
b and image, he b and meaning, and b and iden i y we e posi i e and signi ican .
The e o e, he ollowing hypo heses a e posi ed:
H1a: A. Le Coq bee ’s b and epu a ion is signi ican ly and posi i ely ela ed o he b and image
o A. Le Coq bee .
B and Equi y
o A. Le Coq
bee
Commi men
T us
Sa is ac ion
A achmen
s eng h
B and Image
B and
Meaning
B and Iden i y
Repu a ion
H1a
H1c
H1b
H2b
H2a
H2c
H4b
H4c
H3c
H3a
H4a
H3b
Figu e 1. P oposed concep ual model o b and equi y o A. Le Coq bee —adap ed om he s udy by
Dennis e al. (2016, p. 3051).
2.4.1. The Impac o Repu a ion on B and Cha ac e is ics
Repu a ion can be de ined as a a ou able iew ha cus ome s hold, whe e hey
di e en ia e a ce ain b and om ano he by e alua ing i s o e all alue and u ili y
(Bha acha ya and Elsbach 2002;Jillapalli and Jillapalli 2014). Rope and Fill (2012) explain
epu a ion as a summa y ha combines a ious iews and pe cep ions sha ed by di e -
en people. In o he wo ds, b and epu a ion can be seen as an impo an indica o ha
displays how well he b and pe o ms in he ma ke in compa ison wi h i s compe i o s
(Dennis e al. 2016). Dennis e al. (2016) ound posi i e e ec s o epu a ion o b and image,
b and meaning, and b and iden i y. I is wo h men ioning ha Dennis e al. (2016, Table 4,
p. 3054) ound ha epu a ion had a s ong posi i e e ec on b and meaning. Chaudhu i
(2002) emphasises he impo ance o b and epu a ion and e e s o i as an impo an ool,
since i plays an immense ole in making s a egic manage ial decisions. I is men ioned
ha cul i a ing a posi i e epu a ion is i al in o de o become success ul and p o i able
in he ma ke (He big and Milewicz 1993) whils equi ing p ope b anding and o e all
ma ke ing ac i i ies. Repu a ion has an impac on he de elopmen o b and image by
c ea ing b and awa eness, which boos s b and image (Jillapalli and Jillapalli 2014;Kelle
2001). Ano he explana ion o b and epu a ion is gi en by Van Van Vugh (2008), who
alks abou i as a cumula i e ou come o se e al ac i i ies in o de o gene a e an ex e nal
Adm. Sci. 2024,14, 61 17 o 40
image. Repu a ion is discussed by Bosch e al. (2006) as a a iable ha c ea es a b and
iden i y, whe e he posi i e impac o epu a ion on b and iden i y is empi ically es ed
and con i med. Velou sou and Mou inho (2009) s ess he impo ance o b and meaning
in a decision-making p ocess whe e cus ome s de elop he symbolic meaning o b and
h ough i s epu a ion. Escalas and Be man (2005) also sugges ha he epu a ion o a
ce ain b and among he e e ence g oup plays a signi ican ole in i s selec ion, whe e he
au ho s ega d e e ence g oups as a sou ce o b and meaning. Fu he mo e, he s udy by
Jillapalli and Jillapalli (2014, Table 3, p. 35) e ealed ha epu a ion was nega i ely ela ed
o a achmen s eng h, and he e o e his ela ionship was no suppo ed. Addi ionally,
he s udy by Dennis e al. (2016, Table 4, p. 3054) ound ha epu a ion o he b and image,
he b and meaning, and b and iden i y we e posi i e and signi ican .
The e o e, he ollowing hypo heses a e posi ed:
H1a: A. Le Coq bee ’s b and epu a ion is signi ican ly and posi i ely ela ed o he b and image o
A. Le Coq bee .
H1b: A. Le Coq bee ’s b and epu a ion is signi ican ly and posi i ely ela ed o he b and meaning
o A. Le Coq bee .
H1c: A. Le Coq bee ’s b and epu a ion is signi ican ly and posi i ely ela ed o he b and iden i y
o A. Le Coq bee .
2.4.2. B and Cha ac e is ics and Thei Impac on A achmen S eng h
As is al eady clea , b and cha ac e is ics ha e he abili y o a ec and change cus ome
beha iou signi ican ly, and his in luence can s a be o e he ac ual pu chasing p ocess
and las a e wa ds.
I has been obse ed ha cus ome s make hei pu chasing decisions no only based on
a ional a gumen s, such as he p oduc ’s unc ionali y and u ili y, bu also hei subjec i e
unde s anding o wha a b and means o hem (Le y 1959). In hei empi ical esea ch,
Escalas and Be man (2005) discuss he impo ance o b and meaning on an indi idual’s sel -
pe cep ion and how he/she exp esses him/he sel in he su oundings by using b ands
as an ins umen . The au ho s also d aw a en ion o he ac ha cus ome s de elop
hei sel -iden i ies based on hei b and selec ion and build up s ong b and–cus ome
ela ionships (Escalas and Be man 2005).
The nex b and cha ac e is ic, which is also pa o he concep ual model, is b and
iden i y, which is de ined as a se o dis inc i e b and associa ions ha ma ke ing manage s
endea ou o de elop in o de o di e en ia e hei p oduc om o he s in he ma ke
(Aake 1996;Kap e e 2008). The main pu pose behind iden i y-building ac i i ies is o
secu e a compe i i e ad an age and o su i e in he ma ke place by showing wha he
b and is capable o o e ing o cus ome s (Da Sil ei a e al. 2013). The de elopmen o a
s ong and clea b and iden i y can enable deep b and–cus ome a achmen and accele a e
he o e all b and equi y (Ghodeswa 2008).
B and image is a concep which has been well esea ched by schola s o e ime, and
i is desc ibed as a cus ome ’s pe cep ion o a b and ha is s ongly a ec ed by b and
associa ions ha ha e eme ged and de eloped in hei mind o e ime (Kelle 2003). These
b and associa ions include all kinds o belie s, ideas, isuals, and hough s (Ko le and Fox
1995) which a e held in he cus ome s’ memo y and ha e a no able impac on cus ome
beha iou (Kuhn e al. 2008). Companies p io i ise hei b and image ac i i ies in o de
o de elop a s ong ela ionship wi h he cus ome s in he ma ke , hus inc easing b and
loyal y and maximising p o i .
A e de ining and explaining he b and cha ac e is ics in b ie , he signi ican e ec o
hem on b and–sel connec ion can be unde s ood, and he e o e on a achmen s eng h.
Pa k e al. (2010) sugges ha cus ome s de elop an a achmen o he b and, whe eby
hey a e connec ed emo ionally and cogni i ely o he b and, e en ually conside ing i
Adm. Sci. 2024,14, 61 18 o 40
as pa o hemsel es. I can be a gued ha accu a e and comple e b anding ac i i ies
s eng hen he a achmen be ween he b and and he sel . The s udy by Dennis e al.
(2016) showed ha he ela ionship be ween b and meaning and a achmen s eng h was
impo an , posi i e, and signi ican . Howe e , he ela ionships be ween b and iden i y
and a achmen s eng h and b and image and a achmen s eng h we e posi i e, bu no
signi ican . These conside a ions a e cap u ed in he ollowing hypo heses:
H2a: A. Le Coq’s b and meaning is signi ican ly and posi i ely ela ed o a cus ome ’s a achmen
s eng h o he b and o A. Le Coq bee .
H2b: A. Le Coq’s b and iden i y is signi ican ly and posi i ely ela ed o a cus ome ’s a achmen
s eng h o he b and o A. Le Coq bee .
H2c: A. Le Coq’s b and image is signi ican ly and posi i ely ela ed o a cus ome ’s a achmen
s eng h o he b and o A. Le Coq bee .
2.4.3. The Impac o A achmen S eng h on Rela ionship Fac o s
The no ion o a achmen s eng h plays a signi ican ole in o de o un eil he quali y
o he ela ionship be ween a cus ome and b and (Thomson 2006). Feelings ha eme ge
alongside a achmen a e essen ial o he b and–cus ome ela ionship (Fou nie e al.
1998), and he mo e his a achmen in ensi ies, he mo e endu ing he ela ionship becomes
cul i a ed. In he s udy by Pa k e al. (2010), he au ho s men ion he impo ance o
a achmen s eng h ha can lead o posi i e emo ions, such as commi men , sa is ac ion,
e c. In he s udy by Jillapalli and Jillapalli (2014, Table 3, p. 35), i was ound ha a achmen
s eng h was posi i ely ela ed o sa is ac ion, commi men , and us . Howe e , a achmen
s eng h was signi ican ly ela ed o only sa is ac ion and commi men , bu no o us .
Addi ionally, he s udy ound ha a achmen s eng h had a s ong posi i e e ec on
commi men . I can be s a ed ha a achmen o he b and is i al o de eloping a b and–
cus ome ela ionship which is us ul, commi ed, and sa is ied. The s udy by Dennis e al.
(2016, Table 4, p. 3054) showed ha bo h ela ionships be ween a achmen s eng h and
commi men and a achmen s eng h and us we e posi i e and signi ican . Howe e , o
he same s udy, he ela ionship be ween a achmen s eng h and sa is ac ion was nega i e
and non-signi ican . In addi ion, bo h s udies by Jillapalli and Jillapalli (2014, Table 3, p. 35)
and Dennis e al. (2016, Table 4, p. 3054) e ealed ha he ela ionship be ween a achmen
and b and equi y was posi i e and signi ican . The e o e:
H3a: The cus ome ’s a achmen s eng h o A. Le Coq bee is signi ican ly and posi i ely ela ed
o his/he commi men o he b and o A. Le Coq bee .
H3b: The cus ome ’s a achmen s eng h o A. Le Coq bee is signi ican ly and posi i ely ela ed
o his/he us in he b and o A. Le Coq bee .
H3c: The cus ome ’s a achmen s eng h o A. Le Coq bee is signi ican ly and posi i ely ela ed o
his/he sa is ac ion in he b and o A. Le Coq bee .
2.4.4. Rela ionship Fac o s and Thei Role in he Fo ma ion o he B and Equi y o A. Le
Coq Bee
A e e iewing he li e a u e, we de ine us as he willingness o one pa y o en e
he si ua ion o being open o he ac ions o ano he pa y, whe he o no his/he ac ions
can be inspec ed (Maye e al. 1995). Con idence plays an impo an ole in he p ocess
o de eloping us , and Mo gan and Hun (1994) desc ibe us as ha ing con idence in
ano he pa y’s c edibili y and ai ness. Fu he mo e, i can be said ha us eme ges in he
ci cums ance whe e he us ing pe son expec s posi i e ou comes om he coun e pa ’s
ac ions (Ande son and Na us 1990) and holds a belie ha he o she will no be aken
Adm. Sci. 2024,14, 61 19 o 40
ad an age o . In conclusion, he alue o us in he b and–cus ome ela ionship should
be emphasised, since c edibili y and us wo hiness accele a e b and loyal y and b and
ad ocacy, which a e indica o s o s ong and desi ed b and equi y (Jillapalli and Jillapalli
2014;Kelle 2001).
Commi men can be concep ualised as a p ocess o p ese ing an exis ing ela ionship
which is aluable and wo h sus aining. One o he mos well-known de ini ions o
commi men is in oduced by Mo gan and Hun (1994), whe e hey desc ibe i as one
pa y’s u mos e o s and desi e o p o ec an ongoing ela ionship wi h an exchange
pa ne . Mo eo e , a en ion can be d awn o he ac ha s ong commi men can lead o
b and loyal y (Hennig-Thu au e al. 2002), whe eby cus ome s end o pe o m epea ed
pu chasing. Since i is known ha b and loyal y is one o he essen ial blocks o he CBBE
model in o de o de elop s ong b and equi y (Kelle 2001), he ollowing s a emen can
make sense: he mo e s ongly commi men is de eloped be ween cus ome and b and, he
g ea e is he g ow h o b and equi y.
Sense o sa is ac ion e e s o he cus ome ’s pe cep ion o he di e ence in expec ed
and expe ienced pe o mance esul ing om he u ilisa ion o ce ain p oduc s o se ices
(Hennig-Thu au e al. 2002;Jillapalli and Jillapalli 2014). The sa is ac ion le el o a cus ome
is ela ed o how well his o he needs a e ul illed. Sa is ied cus ome s end o be mo e
engaged in he ela ionship wi h he b and, and hey a e also keen o sha e hei posi i e
expe ience wi h o he s h ough wo d-o -mou h (File e al. 1994;Yi 1990). The e a e se e al
ins ances o esea ch s a ing ha he no ion o sa is ac ion plays an impo an ole in
he eme gence o b and loyal y and in de eloping an emo ional bond wi h he b and
(Ande son e al. 1994;Rus and Zaho ik 1993). Thus, he conclusion can be made ha
sa is ied cus ome s a e likely o exhibi s onge le els o b and equi y.
Kelle (1993) s esses he necessi y o cus ome s ha ing posi i e, s ong, and dis inc i e
b and associa ions in o de o main ain a ou able cus ome -based b and equi y. Desi able
b and associa ions a e de eloped when cus ome s genuinely belie e ha he b and is
capable o mee ing hei expec a ions and ul illing hei needs (Kelle 1993). The e o e, i
cus ome s a e sa is ied wi h he b and, show a s ong commi men o he b and, and belie e
ha he b and can be us ed, i will lead o s ong and desi ed b and equi y. The s udy
by Jillapalli and Jillapalli (2014, Table 3, p. 35) ound ha he ela ionships be ween us
and b and equi y, commi men and b and equi y, and sa is ac ion and b and equi y we e
posi i e and signi ican . Simila ly, he s udy by Dennis e al. (2016, Table 4, p. 3054) ound
ha he same h ee ela ionships we e posi i e and signi ican . Since hese a o emen ioned
ela ionship ac o s ha e a signi ican e ec on he occu ence o b and equi y, we p esen
he ollowing hypo heses:
H4a: The cus ome ’s us in A. Le Coq bee is signi ican ly and posi i ely ela ed o he b and
equi y o A. Le Coq bee .
H4b: The cus ome ’s commi men o A. Le Coq bee is signi ican ly and posi i ely ela ed o he
b and equi y o A. Le Coq bee .
H4c: The cus ome ’s sa is ac ion wi h A. Le Coq bee is signi ican ly and posi i ely ela ed o he
b and equi y o A. Le Coq bee .
3. Me hodology
3.1. Scale De elopmen
We assessed 9 cons uc s wi h he help o 7-poin mul i-i em Like - ype scales o
examine he p esen ed hypo heses and concep ual model. These mul i-i em scales we e
adop ed om a ious sou ces and ailo ed o his esea ch. E en hough he s udy uses
es ablished scales aken om esea ch in a highe educa ion con ex by Dennis e al. (2016),
hey i app op ia ely in o his esea ch, since hey we e no de eloped speci ically o
Adm. Sci. 2024,14, 61 20 o 40
ce ain indus y con ex s, excep o he scales o b and iden i y by Goi e al. (2014), which
also show compa ibili y.
Appendix A(Table A1) shows he ope a ionalisa ion o he s udy, o example, he
measu emen scales and hei sou ces as well as he cons uc s and i ems u ilised o he
e alua ion o he b and equi y o A. Le Coq bee . Fo he sake o cla i y, he 9 mul i-i em
scales ha a e men ioned in he concep ual model will now be ocused on and a b ie
explana ion o each o hem is gi en in he same Appendix A(Table A1).
3.2. Explo a ion o Biases
The s udy checks o di e en biases, such as he non- esponse bias, he common
me hod bias, and he endogenei y bias. Fi s , he non- esponse bias is he me hod ollowed
by A ms ong and O e on (1977). Acco ding o hem, la e esponses a e expec ed o be
simila o non- esponden s. When pe o ming a - es unde he assump ion o equal and
unequal g oup a iances o h ee g oups (ea ly and la e pa icipan s), he s udy ound no
signi ican di e ences be ween he means o any o he a iables associa ed wi h ea ly and
la e esponses.
Based on he indings o he - es , he e we e no signi ican di e ences be ween he
ea ly cases ( he i s 60 cases) and la e pa icipan s ( he inal 60 cases). Wi hin he o al
sample o 120 pa icipan s and he wo g oups (ea ly and la e pa icipan s), he e we e no
signi ican di e ences be ween he means o he i ems in he - es analysis. The e o e, he
non- esponse bias was no an issue.
Second, he s udy explo ed he common me hod o a iance. A CFA was pe o med,
in which all indica o s included in he s uc u al model we e es ic ed o load on a single
ac o (Podsako and O gan 1986;Podsako e al. 2003;Podsako e al. 2012). The es o
he i o he model showed a poo model i , which implies ha he common me hod o
a iance was no a p oblem in his s udy.
Thi d, based on he wo-s age leas -squa es me hod, he s udy checked o he endo-
genei y bias. The ins umen al a iables, i.e., epu a ion, b and image, b and meaning,
b and iden i y, a achmen s eng h, commi men , us , and sa is ac ion, we e co ela ed
wi h hei espec i e endogenous explana o y a iables, bu no wi h b and equi y. F- es s
(S ock and Wa son 2011) e ealed he s eng h o ins umen al a iables, and we compu ed
ano he model. The indings o he es o Du bin–Wu–Hausman indica ed ha epu a ion,
b and image, b and meaning, b and iden i y, a achmen s eng h, commi men , us ,
and sa is ac ion we e exogenous o b and equi y, wi h all a iables ha ing F s a is ics
g ea e han 10 (S ock and Wa son 2011). The e o e, i was e iden ha he e was no
endogenei y bias.
3.3. Sample Selec ion and Fieldwo k
In o de o collec he empi ical da a o his esea ch, he au ho s conduc ed sel -
adminis e ed s uc u ed online and o line su eys among consume s o A. Le Coq bee
in Es onia. The s udy used a sample o con enience om bachelo ’s, mas e ’s, and Ph.D.
s uden s, as well as g adua es om he Uni e si y o Ta u, who a e consume s o A. Le
Coq bee . Google’s online su ey adminis a ion se ice—Google o ms—was used o
he online esponse ga he ing p ocess, since i has se e al o he ollowing bene i s: he
esponses can be expo ed o Google shee s, which can be downloaded as .xlsx iles o
u u e usage, he su ey can be accessed and modi ied easily in case o need, he e is a
sel -made summa y mode o be e iew, and so on.
Ini ially, we pe o med a pilo s udy wi h 10 ques ionnai es among s uden s a he
Uni e si y o Ta u o ensu e he eliabili y and alidi y o he scales. These ques ionnai es
we e used in he analysis. The online su ey was sen ou o bo h s uden s and g adua es
li ing in Es onia and ecei ed 100 alid esponses. An o line su ey was also conduc ed
among s uden s a ha ime in Ta u, and 20 alid answe s we e ob ained. Fo bo h o hese
su eys, li e assis ance was p o ided o he pa icipan s, i needed, in o de o make su e
ha e e y ques ion was well unde s ood. The gende b eakdown o he esponden s was

Adm. Sci. 2024,14, 61 21 o 40
almos equal, ep esen ing he gene al popula ion e y well. E en hough i is belie ed
ha s uden samples canno ep esen he gene al popula ion and he e is a ques ion ma k
o e he alidi y o hese samples, ne e heless, s uden samples can be used o some
si ua ions whe e hey ac ually a e ecognised as majo consume s o he chosen p oduc
(A ilgan e al. 2005;Yoo e al. 2000). Se e al s udies (Ka am e al. 2007;S ock e al. 2009)
ha e discussed he alcohol consump ion habi s o s uden s, and a high le el o alcohol
consump ion was obse ed. A su ey o uni e si y s uden s in he USA abou hei alcohol
consump ion concluded ha 70% o he esponden s had consumed alcohol du ing he
las 30 days (O’Malley and Johns on 2002), and Kido e al. (1995) obse ed ha his
consump ion mos ly ook he o m o d inking bee (as ci ed in Ba h 2013). Addi ionally,
empi ical s udies on he demog aphics o bee consump ion show ha younge people
be ween he ages o 19 and 34 d ink mo e bee pe mon h han olde people (Ke e al.
2004). Conside ing he ac ha all o he esponden s—bo h Es onians and o eigne s—a e
consume s o A. Le Coq bee and ha e li ed o a e li ing in Ta u, whe e A. Le Coq has
signi ican popula i y, his sample g oup can be ega ded as app op ia e.
The su ey ins umen consis ed o wo pa s: he esponden s answe ed ques ions
abou hei socio-demog aphic and economic s a us in he i s pa , and he second pa
consis ed o 9 cons uc s wi h 33 a iables/i ems/s a emen s ela ed o a ious aspec s and
consequences o he b and equi y o A. Le Coq bee . In he second pa , he esponden s
we e asked o s a e hei ag eemen o disag eemen wi h ques ions based on a 7-poin
Like scale, wi h 1 meaning s ongly disag ee and 7 meaning s ongly ag ee.
Ins ead o a simple yes/no- ype o assessmen , we chose a Like - ype scale in o de
o ob ain mo e sophis ica ed and speci ic da a, since his ype o scale helps o measu e
eelings mo e p ecisely. In he end, we managed o ob ain 120 alid esponses in o al. The
in es iga ion o his s udy, and, in pa icula , he collec ion o da a h ough a su ey ins u-
men , ook place du ing he i s six mon hs o 2021. Table 2indica es he equencies and
he pe cen ages ela ed o gende , age, loca ion, educa ion le el, occupa ion, and na ionali y.
Table 2. P o ile o he pa icipan s.
Va iables F equency Pe cen age
Gende
Male 62 51.7
Female 58 48.3
To al 120 100.0
Age
F om 18 o 24 90 75
25–34 30 25
To al 120 100.0
Loca ion
Ta u 84 70
Tallinn 22 18.3
O he 14 11.7
To al 120 100.0
Educa ion
(Highes le el
comple ed)
Ph.D. 1 0.83
Mas e ’s 60 50
Bachelo ’s 53 44.1
Seconda y 5 4.24
O he 1 0.83
To al 120 100.0
Occupa ion
Employed 26 21.7
Non-employed 94 78.3
To al 120 100.0
Na ionali y
Es onian 26 21.7
Fo eigne s 94 78.3
To al 120 100.0
No e: Compiled by he au ho s.
Adm. Sci. 2024,14, 61 22 o 40
4. Findings
4.1. P o ile o he Pa icipan s1
Analysis o he pa icipan s in he su ey showed ha he majo i y we e male (62)
compa ed o emale (58). The pa icipan s we e young, all be ween 18 and 34 yea s old.
The majo i y we e in he age g oup 18–24 (90) as compa ed o 25–34 (30). In addi ion,
mos o he pa icipan s we e om Ta u (84) as compa ed o Tallinn (22) and o he places
(14). The majo i y o he pa icipan s had a mas e ’s deg ee (60) compa ed o a bachelo ’s
deg ee (53), seconda y ce i ica e (5), Ph.D. (1), and o he educa ion (1). The majo i y o he
pa icipan s we e uni e si y s uden s (94) compa ed o employees (26). Finally, he e we e
26 Es onians and 94 pa icipan s om o he coun ies.
4.2. Di e ences be ween Gende G oups, Age G oups, Loca ion, Educa ion Le el,
Employmen /Non-Employmen , and Na ionali y
An independen samples - es was pe o med o e eal whe he he e we e s a is ically
signi ican di e ences be ween di e en popula ions based on he es ed a iables. The
- es analysis was pe o med on six di e en popula ion cha ac e is ics, which a e shown
in Table 3, among 9 cons uc s including 33 i ems ha belong o he concep ual model.
Table 4shows which i ems/ a iables a e s a is ically signi ican ly di e en be ween each
o he six di e en popula ion cha ac e is ics, i.e., males s. emales, 18–24 s. 25–34 age
g oups, Ta u s. Tallinn, Ph.D. s. mas e ’s s. bachelo ’s s. seconda y educa ion,
employed s. non-employed, and Es onians s. o eigne s.
Table 3. T- es analysis o di e ences be ween di e en popula ion segmen s.
Va iables I em p-Value * Signi ican Di e ences be ween
Di e en Segmen s
X1, Gende X15 0.015 Whe e 1: male, 2: emale
X37 0.037
X2, Age - no s a is ically
signi ican di e ences
Whe e 1: 18–24, 2: 35–34
X3, Loca ion
X7 0.072
Whe e 1: Ta u, 2: Tallinn
X8 0.003
X10 0.077
X12 0.082
X33 0.048
X4, Educa ion X23 0.087 Whe e 1: bachelo ’s, 2: mas e ’s
X5, Occupa ion
X20 0.084
Whe e 1: s uden , 2: employed
X33 0.035
X35 0.038
X6, Na ionali y
X16 0.027
Whe e 1: Es onian, 2: o he
X19 0.016
X28 0.055
X37 0.084
X38 0.080
No e *: Signi ican a p< 0.10.
The independen samples es was pe o med wi h he use o SPSS 29, and he s udy
e ealed he ollowing signi ican di e ences, as ollows.
Rega ding gende g oups, he e was a signi ican di e ence be ween males and e-
males ega ding he ollowing wo s a emen s: I consume A. Le Coq bee o communica e
who I am o o he people (X15), and e en i ano he bee had he same ea u es as his one,
I would p e e o pu chase A. Le Coq bee (X37). Females ag eed wi h bo h s a emen s as
compa ed o males, who disag eed wi h bo h s a emen s.
Rega ding age g oups, he e we e no signi ican di e ences among he s a emen s
o he model be ween he wo age g oups, 18–24 and 25–34 yea s old. The e o e, all age
g oups beha ed in he same way.
Adm. Sci. 2024,14, 61 23 o 40
Rega ding loca ion, he e we e some signi ican di e ences in ela ion o s a emen s
X7, X8, X10, X12, and X33 be ween pa icipan s om Ta u s. Tallinn. Pe sons om Ta u
ag eed wi h he ollowing s a emen s: A. Le Coq bee has a good s a us (X7), A. Le Coq bee
has a good epu a ion (X8), he b and image o A. Le Coq bee is suppo i e (X12), and A.
Le Coq bee keeps i s p omises (X33), as compa ed o pe sons om Tallinn, who disag eed
wi h hem. Pe sons om Ta u disag eed wi h he s a emen ha he b and image o A. Le
Coq bee is s aigh o wa d (X10), as compa ed o pe sons om Tallinn, who ag eed wi h
his s a emen .
Rega ding he educa ion le el, pe sons wi h a mas e ’s deg ee ag eed wi h he s a e-
men o wha ex en do you eel emo ionally bonded o A. Le Coq bee (X23), as compa ed
o pe sons wi h a bachelo ’s deg ee, who disag eed wi h he s a emen .
Rega ding occupa ion engagemen , s uden s (non-employees) ag eed wi h he s a e-
men ha he membe s o he s a a e well ained in hei oles (X20), as compa ed o
employees, who disag eed wi h his. Addi ionally, s uden s disag eed wi h he s a emen
ha A. Le Coq bee keeps i s p omises (X33), and wi h he s a emen ha , o e all, I am
sa is ied wi h consuming A. Le Coq bee (X35), as compa ed o employees, who ag eed
wi h bo h s a emen s.
Finally, ega ding na ionali y, Es onians ag eed wi h he ollowing h ee s a emen s,
namely, his is a isible b and name wi h pe sonali y (X19), e en i ano he bee had he
same ea u es as his one, I would p e e o pu chase A. Le Coq bee (X37), and i he e
was ano he bee as good as his one, I would s ill p e e o pu chase A. Le Coq bee (X38),
as compa ed o o he na ionali ies, who disag eed wi h hese s a emen s. In addi ion,
Es onians disag eed wi h he s a emen , I hink A. Le Coq bee helps me become he ype
o pe son I wan o be (X16), and he s a emen , I eally ca e abou A. Le Coq bee , as
compa ed o o he na ionali ies, who ag eed wi h bo h s a emen s (X28).
Table 4. Mean alues o a iables e ealed om - es o di e en pai s o g oups *.
Popula ion
Cha ac e is ics
I ems
Re ealed om
he -Tes
Male s.
Female
Ta u s.
Tallinn
Bachelo ’s s.
Mas e ’s
Unemployed s.
Employed
Es onians s.
O he
X1, Gende X15
2.98 MD/2.22 D
X37
3.44 MD/4.09 N
X2, Age None
X3, Loca ion
X7 5.19 MA/
4.41 N
X8 5.44 MA/
4.46 N
X10 5.08 MA/
4.5 N
X12 4.69 MA/
4.09 N
X33 4.46 N/
3.68 N
X4, Educa ion X23 . 3.32 MD/2.73 MD
X5, Occupa ion
X20 4.35 N/3.92 N
X33 4.52 MA/3.73 N
X35 4.70 MA/3.89 N
X6, Na ionali y
X16 3.23 MD/2.23 D
X19 5.0 MA/4.12 N
X28 3.35 MD/2.58 MD
X37 4.31 N/3.60 N
X38 4.27 N/3.61 N
No e *: Based on a scale o he ange s ongly disag ee (1) o s ongly ag ee (7) whe e D = disag ee = 2;
MD = mildly
disag ee = 3; N = neu al = 4; MA = mildly ag ee = 5.
Adm. Sci. 2024,14, 61 24 o 40
Ini ially, he s udy spli he da a iles in o di e en da a iles, i.e., male and emale,
18–24 yea s and 25–34 yea s, Ta u and Tallinn, bachelo ’s and mas e ’s s uden s, unem-
ployed and employed, and Es onians and o he s.
In addi ion, he s udy calcula ed he means o he a iables ound in he - es based
on desc ip i e s a is ics, and he esul s a e compa ed be ween he dual g oups in Table 4.
Table 4shows ha , o emales, he mean alue o X15 was lowe compa ed o males,
and he mean alue o X37 was highe compa ed o males. Addi ionally, i shows ha
he e is no s a is ically signi ican di e ence ega ding age g oups o 18–24 yea s old and
25–34 yea s old. Rega ding he loca ion, he mean alues o X7, X8, X10, X12, and X33 we e
lowe o pa icipan s coming om Tallinn compa ed o hose om Ta u. Addi ionally, in
e ms o educa ion, he mean alue o X23 was lowe o pa icipan s ha ing a bachelo ’s
deg ee compa ed o hose wi h a mas e ’s deg ee. Fu he mo e, ega ding he occupa ion
o he pa icipan s, he mean alues o X20, X33, and X35 we e lowe o employed pe sons
compa ed o unemployed ones. Finally, in e ms o na ionali y, he mean alues o X16,
X19, X28, X37, and X38 we e lowe o o he na ionali ies compa ed o Es onians.
4.3. Va iance In la ion Fac o and Con i ma o y Fac o Analysis Using AMOS 29
4.3.1. Va iance In la ion Fac o
In he ollowing pa ag aphs, he s udy uses con i ma o y ac o analysis h ough
AMOS 29 in o de o (a) examine he collinea i y s a is ics, (b) es he model i , (c) illus-
a e he pa h coe icien s, o al e ec s, and ou e weigh s, and (d) e alua e he cons uc
eliabili y and alidi y, as well as he disc iminan alidi y.
Ini ially, he s udy uns he collinea i y s a is ics— he Va iance In la ion Fac o (VIF)
(Hai e al. 2014, pp. 157, 200)— o assess he collinea i y issues o he model. Pe o ming
collinea i y s a is ics is c ucial, since i ells us whe he any a iables should be ex ac ed o
combined oge he in o de o a oid mul icollinea i y p oblems (Wong 2013).
The alue o he VIF needs o be less han i e o each a iable in he model o p e en
mul icollinea i y (Hai e al. 2011). Based on he alues o he VIF (see Table 5), he s udy
e eals ha wo a iables, X22 and X23, ace he p oblem o mul icollinea i y. Howe e , he
s udy has no ex ac ed hese wo a iables om he model due o he high s anda dised
eg ession weigh s o all i ems o he model, which we e all abo e he c i ical alue o 0.500
(see Table 6). I is wo h men ioning ha we ha e calcula ed he VIF s a is ic o all i ems,
e ealing ha i ems X22 and X23 had alues o 5.376 and 5.398, espec i ely. The emaining
i ems had VIF alues o be ween 1.483 and 4.431.
Table 5. Collinea i y s a is ics (VIF).
Va iables VIF Va iables VIF Va iables VIF Va iables VIF
X7 2.586 X16 3.057 X25 3.218 X34 2.578
X8 2.586 X17 1.525 X26 2.454 X35 3.980
X9 1.486 X18 2.004 X27 3.834 X36 3.071
X10 1.761 X19 1.483 X28 3.721 X37 3.429
X11 1.605 X20 1.799 X29 2.613 X38 4.431
X12 1.898 X21 3.693 X30 2.295 X39 3.333
X13 2.781 X22 5.376 X31 2.471
X14 2.446 X23 5.398 X32 2.405
X15 2.788 X24 4.341 X33 2.136
No e: Compiled by he au ho s.
4.3.2. Con i ma o y Fac o Analysis Using AMOS 29
A con i ma o y ac o analysis (CFA) using AMOS 29 was pe o med o es he model
i o he model. A CFA has abou he same indings as he pa ial leas squa es–s uc u al
equa ion modelling (PLS-SEM) Sma PLS3, he indings o which a e no included, as his
me hod does no calcula e he co a iances o es ing he hypo heses. Fu he mo e, he
CFA s a is ics a e sa is ac o y o he model i o he da a. The inal imp o ed e sion o
Adm. Sci. 2024,14, 61 31 o 40
ag eed ha A. Le Coq bee is a isible b and name wi h pe sonali y, and hey would
pu chase A. Le Coq bee e en i o he bee s ha e he same cha ac e is ics o a e as good as
his b and. Fu he mo e, he Es onians disag eed wi h o he na ionali ies ha A. Le Coq
bee helps hem become he ype o pe sons hey wan o be, and hey disag eed ha hey
eally ca e abou A. Le Coq bee .
The abo e indings on he i e ca ego ies o demog aphic di e ences could assis he
CEOs o A. Le Coq bee and o o he b ands o se up app op ia e s a egies o a ac
di e en g oups o consume s o pu chase hei b ands o bee .
6. Conclusions, Limi a ions, and Fu u e Resea ch
6.1. Conclusions
The no ion o b and equi y has ecei ed signi ican a en ion om schola s in he pas
wo decades and many concep s and models conce ning b and equi y ha e been p oposed.
Howe e , he e a e ew s udies ha analyse he impac o b and equi y componen s on
o e all b and equi y based on empi ical da a. This pape has empi ically examined he
b and equi y componen s o A. Le Coq bee in o de o con ibu e o his spa sely examined
a ea. Re e ing o he heo e ical unde pinnings o he s udy, we adop ed Jillapalli and
Jillapalli’s (2014) cus ome -based b and equi y model, which is, in u n, based on Kelle ’s
(1993;2001) b and esonance model, and also employed Dennis e al.’s (2016) empi ical
esea ch. The ocus o his s udy was in un eiling an unde s anding o A. Le Coq bee in
he minds o cus ome s. In his sec ion, we p o ide a summa y o he esul s ob ained om
he mul iple analyses and commen on he hypo hesised ela ionships o he b and equi y
o A. Le Coq bee .
The p esen esea ch con ibu es o he exis ing li e a u e on bee b and equi y, and
speci ically in e nal b and equi y. We did no ollow Aake ’s cons uc s uc u e in he
model, bu used, o he i s ime, a p oduc such as he alcoholic be e age o A. Le Coq
bee , pa o he s uc u e o he cons uc s ollowed by Jillapalli and Jillapalli (2014), and
he whole s uc u e o cons uc s used by he s udy o Dennis e al. (2016). Bo h models
ha e engaged he impo an ou cons uc s o a achmen s eng h, commi men , us ,
and sa is ac ion. I is wo h men ioning ha he model o Jillapalli and Jillapalli (2014,
Figu e 2, p. 34) includes he cons uc o compe ence as one o he h ee dimensions o
b and cha ac e is ics (pe cei ed quali y, compe ence, and epu a ion). In compa ison o
his s udy, he in es iga ion by Dennis e al. (2016, Figu e 1, p. 3051) included pe cei ed
quali y, epu a ion, b and image, b and meaning, and b and iden i y, wi h he las h ee
being new, as well as compe ence, which was no included. Bo h s udies by Jillapalli and
Jillapalli (2014) and Dennis e al. (2016) used h ee o he cons uc s u ilised by Aake
(1991), namely, pe cei ed quali y, epu a ion, and b and equi y, as he dependen a iable.
Addi ionally, he p esen s udy inds ha all he examined ela ionships a e posi i e and
signi ican . Compa ed o bo h s udies by Jillapalli and Jillapalli (2014, Table 3, p. 35) and
Dennis e al. (2016, Table 4, p. 3054), which ound some ela ionships ha we e nega i e
and non-signi ican o posi i e and non-signi ican , he cu en s udy ound only posi i e
and signi ican ela ionships. The e o e, he applica ion o he model by Dennis e al. (2016,
Figu e 1, p. 3051) on he cu en se o da a in ela ion o he bee b and equi y o A. Le Coq
bee is e y success ul, as all hypo heses a e suppo ed. All he hypo heses a e ound o be
posi i e and signi ican .
The s udy e ealed ha some ela ionships a e s ong and posi i e, and iden i ied
he s ong b and equi y d i e s o bee in Es onia. These s ong and posi i e ela ion-
ships a e be ween b and meaning and a achmen s eng h, a achmen s eng h and us ,
a achmen s eng h and commi men , and a achmen s eng h and sa is ac ion.
In addi ion, he s udy e ealed some signi ican di e ences be ween gende , i.e., male
s. emale, adequa e con e gence o loca ion, i.e., Ta u s. Tallinn, educa ion, i.e., pa ici-
pan s wi h a bachelo ’s deg ee s. a mas e ’s deg ee, occupa ion, i.e., uni e si y s uden s
s. employees, and na ionali y, i.e., Es onians s. o he s. The e was no signi ican di e ence
be ween he pa icipan s o he di e en age g oups, i.e., 18–24- and 25–34-yea -olds.

Adm. Sci. 2024,14, 61 32 o 40
In he concep ual model, he e is he sugges ion ha A. Le Coq’s epu a ion has a
signi ican and posi i e impac on he b and cha ac e is ics (b and image, b and meaning
and b and iden i y) o A. Le Coq bee , which is alida ed by he indings. Fu he mo e, he
esul s o he s udy e eal ha b and meaning as one o he b and cha ac e is ics causes a
sense o a achmen , whe eas he o he wo b and cha ac e is ics—b and image and b and
iden i y—do no ha e an impac on a achmen s eng h. As an icipa ed, he a achmen
s eng h has an impac on cus ome s in de eloping commi ed, us ul, and sa is ying
ela ionships wi h A. Le Coq bee . One o he majo indings is ha he ela ionship ac o s—
commi men , us , and sa is ac ion—play a signi ican ole in he de elopmen o he
b and equi y o A. Le Coq bee . Commi ed, us ing, and sa is ying ela ionships shape
he cus ome ’s pe cep ion o he b and equi y o A. Le Coq bee and s eng hen he o e all
b and equi y.
The goodness o i o he CFA model e eals ha , gene ally, he model i s e y well
wi h he da a, and, based on he calcula ions, he model has e y good eliabili y and
alidi y. In addi ion, he impo an ela ionships o he model ha he CEOs o b ands
should pay a en ion o a e speci ically six ela ionships in e ms o impo ance based
on hei pa h coe icien s, including a achmen s eng h o commi men , b and meaning
o a achmen s eng h, epu a ion o b and image, a achmen s eng h o sa is ac ion,
epu a ion o b and iden i y, and a achmen s eng h o us .
The esul s indica e ha he concep ual model o b and equi y o A. Le Coq bee
is alid and mos ly in line wi h he indings o Dennis e al. (2016) and pa allel o he
cus ome -based b and equi y model o Jillapalli and Jillapalli (2014). The esul s a e
cong uen wi h hose o Dennis e al. (2016), who concluded ha epu a ion has a posi i e
and signi ican impac on b and cha ac e is ics bu a non-signi ican impac on a achmen
s eng h. Addi ionally, he ela ionship be ween b and cha ac e is ics and a achmen
s eng h in his s udy shows consis ency wi h Dennis e al.’s (2016) indings. On he o he
hand, Dennis e al. (2016) disco e ed a nega i e ela ionship be ween a achmen s eng h
and sa is ac ion; howe e , his s udy shows he ela ionship be ween hem o be posi i e
and s a is ically signi ican . Meanwhile, Jillapalli and Jillapalli (2014) indica ed ha he
impac o a achmen s eng h on us is non-signi ican , which is con a y o he indings
o bo h Dennis e al. (2016) and his s udy. Finally, Jillapalli and Jillapalli (2014) ound
ela ionship ac o s o ha e a posi i e and signi ican impac on b and equi y, whe eas
his s udy indica es ha commi men has a non-signi ican impac on b and equi y, which
pa allels he indings o Dennis e al. (2016).
Aake (2009) emphasises he ole o cul i a ing b and equi y in de eloping a s ong
b and in o de o di e en ia e a p oduc om i s compe i o s and gain compe i i e ad an-
age in he ma ke place. S ong b and equi y can be achie ed in he long e m h ough
igo ous ma ke ing e o s, and hus leads o compe i i e ba ie s agains compe i o s (Yoo
e al. 2000). B ewe ies in Es onia, he e o e, should pu mo e emphasis on cul i a ing and
managing b and equi y, since i plays a signi ican ole in he eme gence o s ong b ands.
6.2. Theo e ical and Manage ial Implica ions
Rega ding he heo e ical implica ions, one could say ha he i o he model is e y
good, showing he model o be qui e sa is ac o y, wi h all ela ionships being signi ican
and posi i e. On he o he hand, ega ding manage ial implica ions, his s udy p o ides
impo an insigh s o he managemen eams o compe i i e b ands o bee , which should
ocus on he impo an ela ionships, namely, a achmen s eng h and commi men , b and
meaning and a achmen s eng h, sa is ac ion o b and equi y, commi men o b and
equi y, a achmen s eng h o sa is ac ion, us o b and equi y, a achmen s eng h o
us in he b and, and b and epu a ion o b and image. I is wo h men ioning ha bo h
us /commi men heo y and CBBE heo y a e suppo ed by he indings; o example,
he e a e s ong posi i e ela ionships wi hin he es ed model be ween us , commi men ,
and sa is ac ion o b and equi y and he de e minan s o CBBE a e associa ed wi h s ong
posi i e ela ionships.
Adm. Sci. 2024,14, 61 33 o 40
Addi ionally, ega ding he manage ial implica ions o his s udy, he managemen
eam o A. Le Coq bee b and should hink abou how o boos he quad a ic ela ionship
o a achmen s eng h–commi men – us –sa is ac ion, which in u n posi i ely in luences
he bee b and equi y. This can be achie ed o a high deg ee by ad e ising he s a egic
cha ac e is ics o he bee b and and he posi i e eac ions o consume s o he bee b and,
being a leade in he Es onian ma ke and Bal ic coun ies’ ma ke s. Wha is new o he
li e a u e is ha he quad a ic ela ionship o a achmen s eng h–commi men – us –
sa is ac ion posi i ely in luences he bee b and equi y, and wha manage s can lea n om
hese inding is ha he managemen eam should apply di e en me hods/p oposals o
boos hese ela ionships. Such me hods could include he applica ion o a package o
ad e ising echniques o achie e his objec i e.
6.3. Limi a ions and Fu u e Resea ch
This esea ch con ibu es o he spa sely examined a ea o b and equi y and is use ul
o unde s anding he b and equi y o A. Le Coq bee , e en hough he e a e se e al limi a-
ions ega ding he esea ch. The sample size could be conside ed one o he limi a ions,
since he concep ual model was es ed wi h a sample size o 120 people. Addi ionally, he
b and equi y o A. Le Coq bee was s udied wi h e e ence only o home coun y cus ome s
and no expo ma ke s.
Based on he cha ac e is ics o he p o ile o he pa icipan s discussed ea lie , he
sample was based on young consume s aged 18 o 34 yea s, loca ed in Ta u and Tallinn,
wi h he majo i y o pa icipan s being om o eign coun ies (94) as compa ed o Es onians
(24), and mos o he pa icipan s being uni e si y s uden s (94) as compa ed o employees
(26). All hese cha ac e is ics limi he gene alisabili y o he s udy. A simila limi a ion
was ound in ano he s udy ocused on ano he con ex , namely, ha o Ka sika i e al.
(2020). The e o e, a u u e su ey should be based on a s a i ied sample o include olde
pa icipan s aged 35 o 65 yea s, a highe pe cen age o employees, a mo e ep esen a i e
sample o Es onians s. o eigne s, and a mo e geog aphically ep esen a i e sample
based on he popula ion o he coun ies o Es onia. The size o he sample (120 su eys)
cons i u es ano he limi a ion o he s udy. Mo e eliable and comp ehensi e esul s can be
achie ed by simply employing a bigge and mo e di e se sample size. The issue o a small
a ge popula ion (based on a sample o s uden s om he Uni e si y o Ta u) is ano he
limi a ion o his s udy. Fu he mo e, he con enience sampling used in he s udy can lead
o he lack o gene alizabili y o he da a and he esul s. Mo eo e , we ha e used he scale
de eloped o HEI a he han o he s es ed in p oduc s, as we could no use many o o he
app oaches in same in es iga ion due o a ime limi a ion. Ano he possible limi a ion o
his s udy was he ac ha we ha e pe o med gende g oup and age g oup di e ences
wi h he use o a - es analysis ins ead o using ANOVA, which is a mul ig oup analysis.
The e o e, he e was no need o un ANOVA using SPSS29. Fu he mo e, since we ha e
ob ained a good esul o he EFA and CFA by using SPSS29 and AMOS29, espec i ely,
and we we e amilia wi h hem, he e was no need o in en and lea n o use new so wa e,
o example, using Ma zi e al.’s (2023) so wa e. Acco ding o McNeish and Go don (2020),
he issue o a misalignmen in he ep esen a i i y o he cons uc s can be e ec i ely
assessed by using Ma zi e al.’s (2023) alidi y measu e o la en a iables by u ilising he
CLC es ima o .
Ano he limi a ion is ela ed o he c oss-sec ional na u e o his esea ch, whe e causal
ela ionships can be de i ed. This limi a ion can p o ide an oppo uni y o u u e esea ch,
whe e a longi udinal s udy would bene i he in-dep h unde s anding o he dynamic
na u e o b and-building ac i i ies. And, las ly, a compa a i e s udy in ol ing ano he
majo bee b and in Es onia may e eal di e en aspec s o b and equi y o ma ion in he
b ewe y ma ke .
Finally, one o he limi a ions o his s udy is ha he esul s o he esea ch a e use ul
only o he managemen o A. Le Coq and o he CEOs o he compe ing b ands. Mo eo e ,
Adm. Sci. 2024,14, 61 34 o 40
local compe ing b ands could possibly ind he esul s o his s udy e y in e es ing in
e ms o he decision-making o hei own managemen .
Fu u e esea ch should ocus on he indings o he EFA, in which bo h he cons uc s
o sa is ac ion and b and equi y we e no iden i ied. Resea ch should be ca ied ou in
o he coun ies o ind ou whe he di e en cul u es can in luence he s uc u e o he
sugges ed model. Fu he mo e, esea che s should assess models which ha e been es ed
on p oduc s.
I is wo h men ioning ha u u e s udies should ocus on a sys ema ic li e a u e e iew
(see Coudouna is and A idsson 2019,2022), on con en analysis o ind he po en ial
hemes (see Coudouna is e al. 2009;Leonidou e al. 2010), on a me a-analysis o ind
he me a-analy ic co ela ions (see Coudouna is 2017,2018;Coudouna is e al. 2020),
o on a bibliome ic analysis o he dimensions o CBBE, which a e missing om he
exis ing li e a u e.
As he his o y o A. Le Coq in Es onia is in iguing and po en ially speci ic, u u e
esea che s should conside he he i age o he b and (Hudson 2011;Rose e al. 2016;
Peco e al. 2018) in he con ex o he p o ound change in he Es onian ma ke since 1912,
in ol ing Wo ld Wa I, he i s independence, Wo ld Wa II, So ie ule, and he new
independence. This company is one o he ew which ha e managed o su i e. In his
con ex , he e a e in e es ing pa hs o be es ed, e.g., b and he i age, b and pe sonali y,
b and nos algia, b and quali y, b and leade ship, and b and compe i i e ad an age (Cha zi-
panagio ou e al. 2016, Figu e 1, B and Building Block, p. 5481). Finally, b and au hen ici y
(P ayag and Del Chiappa 2021) could be ano he an eceden ac o o he b and building
block.
Finally, u u e esea che s should hink o engage, in hei u u e models, wi h he
b and building block, b and unde s anding block, and b and ela ionship block, as dis-
cussed by Cha zipanagio ou e al. (2016), Cha zipanagio ou e al. (2019), Velou sou e al.
(2020), and Velou sou (2023).
Au ho Con ibu ions: Concep ualiza ion, D.N.C. and R.A.; me hodology, D.N.C.; so wa e, D.N.C.;
alida ion, R.A.; o mal analysis, D.N.C.; in es iga ion, R.A.; esou ces, D.N.C., P.B., T.M. and
R.A.; da a cu a ion, D.N.C.; w i ing—o iginal d a p epa a ion, D.N.C., T.M. and R.A.; w i ing—
e iew and edi ing, D.N.C.; isualiza ion, R.A.; supe ision, D.N.C., P.B., T.M. and A.I.B.; p ojec
adminis a ion, D.N.C. All au ho s ha e ead and ag eed o he published e sion o he manusc ip .
Funding: The au ho s ecei ed no inancial suppo o he esea ch, au ho ship, and/o publica ion
o his manusc ip .
Ins i u ional Re iew Boa d S a emen : No applicable.
In o med Consen S a emen : In o med consen was ob ained om A. Le Coq b and o bee .
Da a A ailabili y S a emen : No applicable.
Con lic s o In e es : The au ho s decla e no po en ial con lic s o in e es .
Appendix A
Table A1. Cons uc s and hei de ini ions.
Cons uc s
and Con ibu o s I ems in Each Cons uc * De ini ions
Repu a ion
(Chaudhu i 2002)
X7: A. Le Coq bee has a good s a us
X8: A. Le Coq bee has a good epu a ion
In o de o assess A. Le Coq bee ’s
epu a ion, a wo-i em scale (Chaudhu i
2002) is u ilised which e eals he
cus ome ’s a i ude owa ds he b and.
Adm. Sci. 2024,14, 61 35 o 40
Table A1. Con .
Cons uc s
and Con ibu o s I ems in Each Cons uc * De ini ions
B and image
(Syed Alwi and Da Sil a 2007)
X9: The b and image o A. Le Coq bee is
eassu ing
X10: The b and image o A. Le Coq bee is
s aigh o wa d
X11: The b and image o A. Le Coq bee is open
X12: The b and image o A. Le Coq bee is
suppo i e
The ou -i em scale (Syed Alwi and Da
Sil a 2007) cap u es he cus ome ’s
pe cep ion o he b and o A. Le Coq bee
and measu es he b and image.
B and meaning
(Escalas and Be man 2005)
X13: A. Le Coq bee e lec s who I am
X14: I eel a pe sonal connec ion o A. Le Coq
bee
X15: I consume A. Le Coq bee o communica e
who I am o o he people
X16: I hink A. Le Coq bee helps me become he
ype o pe son I wan o be
The ou -i em scale is sou ced om Escalas
and Be man (2005) and measu es he
b and meaning by linking angible and
in angible b and associa ions.
B and iden i y
(Goi e al. 2014)
X17: A. Le Coq has a help ul websi e
X18: A. Le Coq has an ou s anding mission and
ision
X19: This is isible b and name wi h pe sonali y
X20: The membe s o he s a a e well ained in
hei oles
The ou -i em b and iden i y scale (Goi
e al. 2014) desc ibes how well cus ome s
dis inguish he b and o A. Le Coq bee
om i s compe i o s.
A achmen s eng h
(Pa k e al. 2010)
X21: A. Le Coq bee is pa o me and who I am
X22: I eel pe sonally connec ed o A. Le Coq
bee
X23: I eel emo ionally bonded o A. Le Coq bee
X24: A. Le Coq bee is pa o me
X25: A. Le Coq bee says some hing o o he
people abou how I am
The i e-i em scale (Pa k e al. 2010)
measu es how s ongly cus ome s a e
a ached o A. Le Coq bee and gi es
insigh in o he in ensi y o he
b and–cus ome ela ion.
Commi men
(Jillapalli and Jillapalli 2014)
X26: I am e y commi ed o A. Le Coq bee
X27: A. Le Coq bee is e y impo an o me
X28: I eally ca e abou A. Le Coq bee
X39: I belie e ha A. Le Coq bee dese es my
e o in main aining a ela ionship
The ou -i em commi men scale (Jillapalli
and Jillapalli 2014) de e mines he
impo ance o he ela ionship o he
cus ome o he b and o A. Le Coq bee
and he dedica ion o p ese e i .
T us
(Jillapalli and Jillapalli 2014)
X30: A. Le Coq bee can be us ed
X31: A. Le Coq bee is expec ed o do wha is
igh
X32: A. Le Coq has high in eg i y
X33: A. Le Coq bee keeps i s p omises
The ou -i em scale (Jillapalli and Jillapalli
2014) shows how con iden he cus ome s
a e abou hei ela ionship wi h he b and
o A. Le Coq bee and measu es us in he
b and.
Sa is ac ion
(Jillapalli and Jillapalli 2014)
X34: I am deligh ed wi h A. Le Coq bee , as i
sa is ies my hi s
X35: O e all, I am sa is ied wi h consuming A.
Le Coq bee
X36: I hink I did he igh hing when I decided
o consume A. Le Coq bee
The h ee-i em sa is ac ion scale (Jillapalli
and Jillapalli 2014) measu es he cus ome s’
esponse o how well A. Le Coq bee does
in mee ing cus ome expec a ions.
B and equi y
(Yoo e al. 2000)
X37: E en i ano he bee had he same ea u es
as his one, I would p e e o pu chase A. Le Coq
bee
X38: I he e was ano he bee as good as his one,
I would s ill p e e o pu chase A. Le Coq bee
X39: I ano he bee was simila o A. Le Coq
bee in any way, i would s ill seem sma e o
pu chase A. Le Coq bee
The inal h ee-i em scale (Yoo e al. 2000)
measu es whe he cus ome s espond
posi i ely o he ma ke ing ac i i ies o A.
Le Coq bee and cap u es he b and
associa ions o A. Le Coq bee ha
cus ome s keep in hei minds.
No e *: Adap ed om Dennis e al. (2016, p. 3053).
Adm. Sci. 2024,14, 61 36 o 40
No es
1The igu es in pa en heses indica e he numbe o esponden s.
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