The Role of Influencing Factors on Brand Equity and Firm Performance with Innovation Culture as a Moderator: A Study on Art Education Firms in China

Presently, particularly in China, the market for art education is still in the growth stage of industrial development. Nevertheless, there is a huge number of art education businesses competing for a share of China’s art education industry, which is of a very modest size. Given the evolution of the...

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Bibliographic Details
Published in:Sustainability 2023-01, Vol.15 (1), p.519
Main Authors: Li, Ming, Chin, Chee Hua, Li, Shangke, Wong, Winnie Poh Ming, Thong, Jun Zhou, Gao, Kang
Format: Article
Language:English
Subjects:
Art education
Baseline studies
Brand equity
Brand loyalty
Brands
Colleges & universities
Competition
Education
Educational services industry
Elementary schools
Entrance examinations
Growth stage
Hypotheses
Industrial development
Influence
Innovations
Literature reviews
Market positioning
Marketing
Mathematical models
Performance management
Profits
Statistical analysis
Sustainability
Citations: Items that this one cites
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Summary:Presently, particularly in China, the market for art education is still in the growth stage of industrial development. Nevertheless, there is a huge number of art education businesses competing for a share of China’s art education industry, which is of a very modest size. Given the evolution of the economy and innovative culture, it is of the utmost necessity to comprehend both brand equity and corporate success in the present day. This study explored the relationship between brand equity and company performance under the adjustment of innovation culture using Chinese art education businesses as the baseline study. The present study examined the relationship between the five components of brand equity that are primarily comprised of brand awareness, brand association, perceived quality, brand loyalty, brand relevance, and brand equity with the moderating impact of innovation culture. A total of 300 respondents, including art education firm managers, teachers, and other key employees, participated in the survey and WarpPLS 8.0 was used to evaluate the proposed model. Subsequently, the statistical findings revealed a significant positive relationship between the brand equity components (i.e., perceived quality and brand relevance) and a firm’s performance, while a firm’s innovation culture was discovered to moderate the said relationship. The implications of these findings are further discussed.
ISSN:2071-1050
2071-1050
DOI:10.3390/su15010519