Brand Equity and Brand Loyalty: Focusing on the Moderating Role of Value for Money

다국어 초록 (Multilingual Abstract)

Although past researchers investigated brand equity, value for money and brand loyalty, an integration of these variables into a single model is not apparent. Accordingly, the purpose of this research is to examine the moderating effects of value for money on the relationship between brand equity and brand loyalty. This research adopted Baron and Kenny's(1986) method using moderated regression analysis to examine the moderating effect of value for money, and large sample of consumers (n=378) who are familiar with hotel and restaurant brands in the UK provided the data. The results revealed that the effect of brand equity on brand loyalty is not just direct but is also moderated by value for money. However, among the five dimensions of brand equity, only the “brand identification" dimension appeared to be significantly influenced by the moderating effect of valuer for money. The key contribution of this research is that it provides insights into the inter-relationships among brand equity, value for money and brand loyalty in the hospitality industry. Furthermore, the results of this research are useful for identify the role of value for money and strategies for strengthening brand loyalty for hospitality brands.

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