The Effects of Personal Values on Brand Equity in the Hospitality Industry

Personal values research in consumer behaviour has received a substantial amount of attention from both academics and practitioners. Although the literature reflects an emerging interest, personal values do not have as wide application to direct examinations of consumer behaviour as might be expected. Accordingly, the purpose of this research is to investigate the effects of personal values on brand equity in the hospitality industry. The specific objectives of this research are: 1) to identify the underlying dimensions of personal values and brand equity, and 2) to examine the effects of identified dimensions of personal values on the identified dimensions of brand equity. A large sample of consumers (n=378) who are familiar with hotel and restaurant brands in the UK provided the data. The research resulted in significant findings. First, five dimensions of personal values ("competence values," "conformity values," "compassion values," "self-oriented values," and "hedonism values") and five dimensions of brand equity ("physical quality," "staff behaviour," "brand identification," "lifestyle-congruence," and "self-congruence") were found to be valid and reliable. Second, a complex set of positive relationships appeared between the confirmed dimensions of personal values and confirmed dimensions of brand equity. The key contribution of this research is that it provides insights into the relationships between the confirmed dimensions of personal values and confirmed dimensions of brand equity in the hospitality industry. Furthermore, the results of this study are useful for identifying the role of personal values in estimating brand equity and the strategies for strengthening brand equity for hospitality brands.