Browse > Article
http://dx.doi.org/10.13106/jafeb.2020.vol7.no10.149

Place Brand Equity and Domestic Investors' Choice: A Case Study in Vietnam  

PHAM, Huong Thi Thu (Faculty of Economics and Business Administration, Hung Vuong University)
PHAM, Nga Thi (Thai Nguyen University of Economics and Business Administration)
Publication Information
The Journal of Asian Finance, Economics and Business / v.7, no.10, 2020 , pp. 149-159 More about this Journal
Abstract
Selecting an investment location is one of the most crucial decisions of investors as it has a great influence on the operation and development of the business in the future. At the same time, the attraction of localities will bring advantages for socio-economic development for the localities invested. Investors are interested in localities that have the potential to invest. The study focused on analyzing and testing the influence of place brand equity on the choice of investment locations of domestic investors through a regression analysis using 425 survey samples of investors in Phu Tho province, one of the northern industrial zones in Vietnam. Research results showed that 56.5% of investment decisions depended on factors from place brands. In addition, in the decision-making process for choosing investment locations, brand awareness factor had the greatest impact on investor's decisions, followed by brand image and brand personality, and finally brand confidence had the smallest impact. Therefore, in the coming time, in order to retain and attract domestic investors to choose Phu Tho as an investment and business destination, it is necessary to increase the value of place brand equity and implement solutions to promote place brands to investors.
Keywords
Place Brand; Place Brand Equity; Domestic Investors; Phu Tho Province; Vietnam;
Citations & Related Records
Times Cited By KSCI : 6  (Citation Analysis)
연도 인용수 순위
1 Baxter, J., & Kerr, G. (2010). The meaning and measurement of place identity and place image. In: The 50th European regional science association congress (pp. 19-23).
2 Bose, S., Roy, S. K., & Tiwari, A. K. (2016). Measuring customerbased place brand equity (CBPBE): an investment attractiveness perspective. Journal of Strategic Marketing, 1(1), 17-32.
3 Brymer, C. (2003). Branding a country. Retrieved July 20, 2020, from: http://www.cuts-citee.org/CDS02/pdf/CDS02-Session3-02.pdf.
4 Chekalina, T., Fuchs, M., & Lexhagen, M. (2016). Customer-Based destination brand equity modeling: The role of destination resources, value for Money, and value in use. Journal of Travel Research, 57(1), 31-51.   DOI
5 Cleave, E., Arku, G., Sadler, R., & Gilliland, J. (2016). The role of place branding in local and regional economic development: bridging the gap between policy and practicalit. Regional Studies, Regional Science, 3(1), 207-228. https://doi.org/10.1080/21681376.2016.1163506
6 Comrey, A. & Lee, H. (1992). A first course in factor analysis. Hillsdale, MI: Erlbaum.
7 Dinnie, K. (2008). Nation Branding-Concepts, Issues, Practice. Oxford, UK: Butterworth-Heinemann.
8 Florida, R. (2002). The rise of the creative class and how it's transforming work, Leisure, community and everyday life. New York, NY: Basic Books.
9 Zenker, S. (2011). How to catch a city? The concept and measurement of place brands. Journal of Place Management and Development, 4(1), 40-52.   DOI
10 Risitano, M. (2005). The role of destination branding in the tourism stakeholders system: The Campi Flegrei Case. Faculty of Economics - University of Naples Federico II, Via Cinthia - Campus of Monte S. Angelo, Naples, Italy.
11 Tabachnick, B. G., & Fidell, L. S. (2007). Using multivariate statistics (5thEd.). Upper Saddle River, NJ: Pearson Publishing.
12 Tho, L. D., & Trang, N. T. M. (2009). Locality and Business Satisfaction, Scientific Research in Business Administration (pp. 73-145). Hanoi, Vietnam: Statistical Publishing House.
13 Tung, L. T., & Thang, P. N. (2020). Impact of FDI on Private Investment in the Asian and African Developing Countries: A Panel-Data Approach. Journal of Asian Finance, Economics, and Business, 7(3), 295-302. https://doi.org/10.13106/jafeb.2020.vol7.no3.295   DOI
14 Trong, H., & Ngoc, C.N.M. (2008). Analyzing research data with SPSS. Hanoi, Vietnam: Hong Duc Publisher.
15 Tuan, N. A., & Long, L. K. (2013). The influence of local attributes on the satisfaction of tourism businesses in Nha Trang. Journal of Economic Development, 271, 36-50.
16 Usakli, A., & Baloglu, S. (2011). Brand personality of tourist destination; An application of selfcongruity theory. Tourism Management, 32, 114-127.   DOI
17 Zenker, S., & Braun, E. (2010). The place brand centre - A conceptual approach for the brand management of places. In: 39th European Marketing Academy Conference. Copenhagen, Denmark.
18 Zenker, S., & Martin, N. (2011). Measuring success in place marketing and branding. Place Branding and Public Diplomacy, 7(1), 32-41.   DOI
19 Kien, D. T., Toan, T. M., Tuyen, B. Q., Duy, N. V., & Lien, T. N. (2014). The impacts of local properties on investor’s satisfaction: Evidence from Hai Duong, Vietnam. Journal of Economics and Development, 210(1), 43-52.
20 Keller, K. L. (1998). Strategic Brand Management: Building, Measuring and Managing Brand Equity. Upper Saddle River, NJ: Prentice Hall.
21 Kotler, P., Asplund, C., Rein, I., & Haider, D. H. (1999). Marketing Places Europe: How to Attract Investments, Industries, Residents and Visitors to European Cities, Communities, Regions and Nations. London, UK: Pearson Education Ltd.
22 Kubacki, K., & Skinner, H. (2006). Poland: exploring the relationship between national brand and national culture. Journal of Brand Management, 13(4/5), 284-299.   DOI
23 Metaxas, T. (2010). Place marketing, place branding and foreign direct investments: Defining their relationship in the frame of local economic development process. Place Branding and Public Diplomacy, 6(3), 228-243.   DOI
24 Nguyen, H. H. (2020). Impact of Foreign Direct Investment and International Trade on Economic Growth: Empirical Study in Vietnam. Journal of Asian Finance, Economics, and Business,7(3), 323-331. https://doi.org/10.13106/jafeb.2020.vol7.no3.323   DOI
25 Nguyen, V. T. (2020). The Role of Foreign Direct Investment and Trade on Environmental Quality in Vietnam. Journal of Asian Finance, Economics, and Business, 7(3), 289-294. https://doi.org/10.13106/jafeb.2020.vol7.no3.289   DOI
26 Rainisto, S. K. (2003). Success factors of place marketing: A study of place marketing practices in Northern Europe and the United States. Doctoral Dissertation, Helsinki University of Technology, Institute of Strategy and International Business.
27 Hankinson, G. (2001), Location branding: a study of twelve English cities, Journal of Brand Management, 9(2), 127-142.   DOI
28 Hankinson, G., & Cowking, P. (1993). Branding in Action. London, UK: McGraw-Hill.
29 Hayter, R. (1997). The Dynamics of Industrial Location-The Factory, the firm and the Production System. Chichester, UK: John Wiley & Sons.
30 Ho, D. P. (2011). Factors affecting investment attraction in industrial zones. In: Quantitative research methods and practical studies in development economics - agriculture (pp. 67-91). Hanoi, Vietnam: Phuong Dong Publishing House.
31 On, P. V., & Khanh, T. P. D. (2015). Factors affecting investment attraction in industrial parks and industrial complexes in Tien Giang province.Economics & Forecasting Journal, 9, 23-25.
32 Pantzalis, J., & Rodriguez, C. A. (1999). Country names of brands: symbolic meaning and capital flows. Retrieved December 12, 2019, from: www.sba.muohio.edu/abas/1999/pantzajo.pdf.
33 Jansson, J., & Power, D. (2006). The image of the city: Urban branding as constructed capabilities in Nordic city Regions. Copenhagen, Denmark: Nordic Council of Ministers.
34 Jacobsen, B. (2009). Investor-based place brand equity: a theoretical framework, Journal of Place Management and Development, 2(1), 70-84.   DOI
35 Jacobsen, B. (2012). Place brand equity: a model for establishing the effectiveness of place brands, Journal of Place Management and Development, 5(3), 253-271.   DOI
36 Ghosh, C., Rodriguez, M., & Sirmans, C. F. (1995), Gains from corporate headquarters relocations: evidence from the stock market, Journal of Urban Economics, 38, 291-311.   DOI
37 Kavaratzis, M. (2004). From City Marketing to City Branding: An Interdisciplinary Analysis with Reference to Amsterdam, Budapest and Athens. PhD Thesis, University of Groningen, The Netherlands. Available at: http://dissertations.ub.rug.nl/faculties/rw/2008/m.kavaratzis/
38 Kavaratzis, M. (2005). Place branding: a review of trends and conceptual models. The Marketing Review, 5(4), 329-42.   DOI
39 Kavaratzis, M. (2007). City marketing: the past, the present and some unresolved issues. Geography Compass, 1(3), 95-712.   DOI
40 Alli, K. L., Ramirez, G. G., & Yung, K. (1991). Corporate headquarters relocation: evidence from the capital markets. Journal of the American Real Estate and Urban Economics Association, 19(4), 583-599.   DOI
41 Bang, N. V., Nghi, L. Q., & Vi, L. C. (2016). Factors affecting FDI attraction inindustrial zones in Dong Nai. Science and Technology Development Journal, 19(2), 5-18.