Country Brand Equity: The Role of Image and Reputation

ABSTRACT Country brand equity (CBE) is expanding in theory and in practice; however, little has been published on its conceptualization. By incorporating ‘reputation’ into the place brand equity construct at a country level, we provide a theoretical multidimensional framework for CBE. Seventeen interviews with international researchers were undertaken for theory building. A seven-dimensional CBE framework was developed according to the interpretations of two constructs - country brand reputation (‘share of experience’) and country brand image (‘share of mind’) - along with country brand associations, country brand awareness, country brand loyalty, country brand perceived quality, and channel relationships. We conclude by outlining potential further research avenues and implications for managerial practice. These contributions may guide policymakers, government officials, executives, and scholars in maximizing the value of a place brand (e.g., country, region, or city) by focusing on ‘reputation’ as an added (qualitative and/or quantitative) construct. This study may also inspire insights into joint efforts of public and private strategies and actions on economic performance, consumer welfare, and business decisions for national prosperity.