The Impact Of Customer Psychological Engagement On Brand Equity Of International Brands From The Perspective Of Value Co-creation

Under the trend of globalization,China’s rapid economic development has attracted many multinational enterprises to enter the Chinese market.Under the impetus of fierce competition and brand-new market environment,multinational enterprises must adopt appropriate brand localization marketing strategy to adapt to the local market.However,some international brands did not perform well in brand localization.How to improve brand equity is an urgent problem for international brands in the context of brand localization.At present,in the academic research field,there are still some theoretical defects and deficiencies,such as scattered research,lack of systematic research framework,black box of influence and lack of empirical test.In this context,from the perspective of customers,this paper proposes a model of the relationship between customer psychological engagement and brand equity in the context of brand localization of international brands.Through empirical research,this paper draws the following conclusions.In the context of international brand localization,customer psychological engagement(including cognitive engagement and affectional engagement)positively affects brand equity(including brand awareness/association,perceived quality,and brand loyalty),and the value co-creation behavior partially mediates the relationship between customer psychological engagement and brand equity.In other words,customer psychological engagement positively drives value co-creation behavior,which can further improve brand equity.In addition,brand local icon value positively moderates the relationship between customer psychological engagement and value co-creation behavior,in which brand local icon value positively moderates the relationship between cognitive engagement and value co-creation behavior,but has no significant moderating effect on affectional engagement and value co-creation behavior.Finally,based on the above conclusions,this paper puts forward management suggestions for multinational enterprises to implement brand localization strategies in the future.