![]() ![]() These past studies have defined CBE in a consolidated deductive-hypothetic approach for each of its stakeholder groups, markets, or country of origin. Most CBE research conducted thus far has been quantitative in nature (Bose et al., 2020 Mariutti & Giraldi, 2019 Pappu et al., 2006 Pappu & Quester, 2010 Zenker, 2014 Zeugner-Roth et al., 2008). However, research on CBE remains in its infancy in the marketing literature (Bose, Roy, Alwi, & Nguyen, 2020 Pappu & Quester, 2010 Zeugner-Roth, Diamantopoulos, & Montesinos, 2008). Moreover, just as the marketable scope of the country brand has expanded, so has academic interest. Specifically, CBE has gained broad attention since 2000 and has gradually advanced in both the theoretical and methodological levels-as has the significance of a country's brand per se (Giraldi, 2016 Papadopoulos & Heslop, 2002 Papadopoulos & Hamzaoui-Essoussi, 2015). In this scenario, we identify an ongoing debate among scholars regarding the conceptualization of CBE. Thus, the country brand can be one of the most valuable intangible assets of a country, for brand equity represents a 'relational' type of market-based intangible asset (Veloutsou, Christodoulides, & Chernatony, 2013). CBE, as a conceptual extension of the theory of brand equity, refers to the value of a country's brand (Zeugner-Roth, Diamantopoulos, & Montesinos, 2008) and acts as an outcome of referred value (Davcik, Silva, & Hair, 2015). Therefore, sustaining CBE for the long term requires strategic brand management (Kapferer, 1992 Pappu, Quester & Cooksey, 2006). Indeed, any of these geographic-spatial places holds multifaceted tangible and intangible features that may influence place reputation, due to the many stakeholders and communication channels involved (Warnaby & Medway, 2013). ![]() 19) observed that "the brand name is relatively fixed by the actual name of the location," which is relevant when considering the branding of a geographical location (such as a city, region, or country). Historically, branding of place has been considered a robust marketing research domain in academia (Bastos & Levy, 2012 Warnaby & Medway, 2013) since the earliest theoretical concepts to support strategies in positioning, advertising, communication, and sales (Kotler & Levy, 1969), which provided the onto-epistemological starting point for place marketing and place branding (country, region, or city) as a core interest-context unit of analysis. Within the setting of international business, country branding has become necessary to build, manage, and monitor the value of the brand at this stage of the global development of branding (Steenkamp, 2017), because of the strategic function of country branding for any country's competitiveness (Foroudi, Gupta, Kitchen, Foroudi, & Nguyen, 2016). 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. 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. ![]() ![]() We conclude by outlining potential further research avenues and implications for managerial practice. 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. Seventeen interviews with international researchers were undertaken for theory building. By incorporating 'reputation' into the place brand equity construct at a country level, we provide a theoretical multidimensional framework for CBE. Country brand equity (CBE) is expanding in theory and in practice however, little has been published on its conceptualization. ![]()
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