An Analysis of Brand Equity Components in the Context of Cultural Festivals

Abstract

Abstract The objectives of this research are 1) to examine the tourist-based brand equity (TBBE) model for cultural festivals; 2) to analyze the components of brand equity in Loy Krathong Light and Candles Festival at Sukhothai Historical Park in Thailand. In order to verify the validity of the brand equity model for cultural festivals, the conceptual framework of this research was based on the concept of consumer- based brand equity model, namely, brand awareness, brand quality, brand association, brand image, brand loyalty, and brand experience. Questionnaires were used to collect data from 328 Thai tourists, and were analyzed by using the structural equation model. The results showed the correlation between the TBBE model and the empirical data with the significant level of 95. That is to say, brand awareness (BA) has a direct influence on brand quality (BQ) and brand association (BAS). Brand quality (BQ) has a direct influence on brand experience (BEx), and brand experience (BEx) has a direct influence on brand loyalty (BL). This research also found that brand experience (BEx) has an influence on the structure of brand equity for cultural festivals.