Brand Equity and Brand Image as Direct and Indirect
Determining Factors of Small Business Growth
Fatimah, Darna, Nurul Hasanah and Elisabeth Y. M.
Accounting Department of Politeknik Negeri Jakarta, Jl. Prof. G. A. Siwabessy, Depok, Indonesia
Keywords: Brand Equity, Brand Image, Small Business, Repeat Purchase
Abstract: This study aims to analyze how brand equity (BE) and brand image (BI) affect the Small/Medium
Enterprises growth (“Naik Kelas”, i.e., NK) either directly or through a repeated buying process (PB). We
use Structural Equation Model (SEM) analysis with data samples collected from 211 participants. The
results of the study show that BI has a significant direct effect on SMEs to level up with the coefficient of
determination r2 = 0.769, while the indirect effect is only r2 = 0.09 or 9%. Brand equity has a negative
direct effect on SME's leveling up by r2 = 0.528, while its indirect effect is only r2 = 0.09 or 9%. Repeated
purchases have a positive and significant direct effect of r2 = 0.482, while BE and BI have a small or very
weak effect on repeat purchases. These results illustrate that brand image and brand equity play a significant
role in leveling up SMEs, but on the other hand, they have a very weak effect on repeat purchases
1 INTRODUCTION
Small and medium enterprises (MSMEs) are
people's businesses that have a dominant role in
Indonesia's economic growth. According to data
disclosed by the Deputy for Macroeconomics and
Finance (Merdeka.com, 2018), the UMKM sector is
able to contribute 60.34 percent of GDP, consisting
of 93.4 percent of micro and small entrepreneurs, 5.1
percent of medium-sized entrepreneurs, and
entrepreneurs only 1 percent. To maximize this role,
micro and small businesses must upgrade to the
middle class and large businesses. It's just that not
all small and micro businesses in Indonesia can
develop and advance in class. Many weaknesses
have become obstacles so that this business group is
in a difficult condition to develop to move up a
grade. According to Pro Indonesia CEO Isman
(2017), six main problems prevent SMEs from
advancing: low business knowledge,
underdeveloped marketing, weak capital, too simple
technology, legality, and limited business networks.
Based on the six main problems that prevent
Small and Micro Enterprises (SME) from advancing
in class, weak capital, business legality, and
underdeveloped marketing are the three factors most
often researchers find in the field. Credit access to
banks or cooperatives has not been able to reach
SMEs as a whole. Several SMEs that the researchers
interviewed directly said that they had difficulty
getting credit from banks because of the conditions
they were unable to meet. As a result, when order
exceeds its production capability, so as not to
disappoint customers, orders are transferred to other
SMEs. Limited business capital also makes it
difficult for SMEs to have business legality, such as
brands for their products. Consumers can determine
the brand and design according to their individual
wishes. The researchers' findings in the field were
confirmed by the Head of UMKM, Bogor Regency,
who said that 90 percent of micro-class
entrepreneurs in Bogor district with an average
capital of IDR 50 million had problems in human
resources, marketing, product quality, and business
management. Another problem is that many micro-
entrepreneurs do not have an entrepreneurial
mentality. Meanwhile, the Dramaga Bogor District
UMKM Forum Chairperson said that many MSMEs
in the area did not yet have business legality such as
labels and packaging (Gunawan, 2017). Business
actors do not think about labels or brands, they focus
more on the quality and quantity of production. In
fact, in the field, not all SMEs have these
characteristics. Even though the percentage is very
small, in the city of Bogor, we can find a micro-
business that has advanced and is widely recognized
by the public, namely the Bogor Taro Layer
Fatimah, ., Darna, ., Hasanah, N. and Y. M., E.
Brand Equity and Brand Image as Direct and Indirect Determining Factors of Small Business Growth.
DOI: 10.5220/0010522100650071
In Proceedings of the 9th Annual Southeast Asian International Seminar (ASAIS 2020), pages 65-71
ISBN: 978-989-758-518-0
Copyright
c
2021 by SCITEPRESS Science and Technology Publications, Lda. All rights reserved
65
Business with the brand "Sangkuriang". This taro
layer is said to be a typical Bogor food because
Bogor is synonymous with taro producers. Lapis
Bogor Sangkuriang was launched in 2011, and at
this time, it is well known by residents of Bogor and
its surroundings and has quite a number of outlets
and many flavors. The distinctive feature of this
layer is that apart from the use of taro, it is also
known for its softness and not being too sweet. The
purple packaging, which is equipped with a
matching color outer packaging, makes this taro
layer very suitable to be used as a souvenir or typical
souvenir of Bogor City. Marketing has used social
media such as Facebook and Twitter, and the owner
Rizka Wahyu R has received several awards from
the government for the success of the product
"Sangkuriang", a word reminiscent of the legend of
West Java.
Consistency to highlight product excellence, as is
done by Lapis Bogor Sangkuriang products, is one
way to maintain marketing communications to
customers in the form of sustainable promotions.
Product excellence can be used as a characteristic
that forms a positive image in consumers'
minds/minds, which are expected to generate
consumer loyalty. Research from Yulianti (2017)
states that the Lapis Bogor Sangkuriang product is in
a growth position so that every year it continues to
increase in sales. The target market segments are the
upper-middle class and the lower middle class. In
contrast, the target market is adolescent and adult
age groups, as well as tourist groups visiting Bogor
city. The most significant opportunity for this
product to develop is the increasing number of
tourists visiting Bogor Regency and the city of
Bogor. However, the threat remains, namely the
emergence of competitors with very similar types of
products and packaging.
Maintaining product excellence is essential to
creating brand equity and brand image. Dimitrieska
(2017) states that products with well-known brands
can become favorite products because they have
several advantages: high product quality, continuous
availability, and proper promotion. These three
advantages form consumer loyalty. Adetunji (2017)
suggests that marketing communication using social
media has a positive and significant impact on
product brand image and significantly affects
consumer purchase intentions. This research shows
that the promotion that has been carried out by
companies conventionally will be more effective if it
is also done through social media. In other studies, it
is said that advertising and personal selling are quite
effective in providing information, creating
awareness, and changing consumer attitudes. It's just
not very effective in building corporate image and
creating brand loyalty (Alorunleke, 2010). From this
research, it is observed that although advertising and
personal selling are part of the way a company is
promoted, it is not always able to build an image.
Consistency in promoting excellence and brand
characteristics can be said to play a more important
role in building a brand image. Meanwhile, Chung
(2012) states that the brand image of a product can
significantly influence brand equity and brand equity
significantly affects consumer purchase intentions.
Pradipta (2016) said that simultaneously brand
equity has a significant influence on purchasing
decisions, and partially the variables of brand equity
show significant results on purchasing decisions
except for brand awareness. Besides that, it is found
that brand association has the most dominant
influence. In another study, Tresna (2018) said that
brand equity has a significant positive effect on
brand loyalty. Besides that, customer satisfaction has
a significant positive effect on brand loyalty. Other
studies say that there is an influence between brand
equity on purchasing decisions. In addition, there is
an effect of brand association on purchasing
decisions, and there is an effect of perceived quality
on purchasing decisions (Zulkarnain, 2015). In
another study by Marisa (2019), it is said that the
product brand image has a significant effect on the
decision to repurchase. Buybacks are made because
millennials will always fulfill their hedonistic
lifestyle. When the product's brand image is able to
realize the desired lifestyle, consumers will make
repeated purchases.
According to several studies, it shows that the
brand equity and brand image of a product is very
important in influencing consumers' intention to buy
the product repeatedly so that SMEs can move up in
class. The Lapis Bogor Sangkuriang product can
already have brand equity, and a brand image that
can be seen with the increasing sales of this product,
and the more people outside Bogor know it. This
product also has many competitors that are made
very similar to the Sangkuriang Taro Layer product.
Buyers who are not careful will buy this competitor's
product and feel they are consuming the
Sangkuriang brand layer.
ASAIS 2020 - Annual Southeast Asian International Seminar
66
Figure 1 CFA Model 2nd Order Exogeneous Construct
Based on this background, we formulate the
problem in this study as to how the influence of
brand equity (BE) and brand image (BI) of SME
products on repeat purchases (PB) and SME growth
(NK). This study aimed to examine and analyze that
brand equity and brand image can directly influence
repeat purchases and indirectly influence growth of
small and micro enterprises.
2 METHODOLOGY
The research technique used is a field survey method
(field research) by selecting consumers of the Taro
Layer Cake product, Bogor "Sangkuriang" brand as
respondents. We conduct the research in several
locations in Bogor City, Regency of Bogor, and the
town of Depok from May to August 2020. The
population in this study were consumers who were
over 17 years of age, and respondents were selected
randomly by referring to the terms and
characteristics that had been determined. The
number of samples used refers to the central
boundary theory, which requires that a large number
of samples (n> 30) will spread normally. The
participants are interviewed using a purposive
method, selected based on the respondents'
willingness to cooperate in this study.
This study's primary data consisted of brand
equity variables with the dimensions of brand
awareness, perceived brand quality, brand
association, and brand loyalty. Variables of brand
image with dimensions include logo design, logo
design consistency, main brand values, brand
strengths, brand uniqueness, and consumer loyalty to
the brand. The SME variable is upgraded with the
dimensions of the distribution network and support
network. Repeat purchase variable with dimensions
of post-purchase and product evaluation. The model
used in this study is a model of causality or an
interplay of relationships to test the proposed
hypothesis. The data analysis technique used the
SEM (Structural Equation Models) method. The
SEM analysis method is used because SEM can
identify the indicators of a construct and, at the same
time, be able to measure the effect or degree of
relationship between the factors that have been
identified in its dimensions.
There are seven hypotheses to be tested in this
study, namely:
H1: There is a direct positive and significant
effect of BE on UKM-NK
H2: There is a direct positive and significant
effect of BI on UKM-NK
H3: There is a direct positive and significant
effect of BE on PB
H4: There is a direct positive and significant
effect of BI on PB
H5: There is a direct positive and significant
effect of PB on UKM-NK
H6: There is a positive and significant effect of
BE on UKM-NK through PB
H7: There is a positive and significant effect of
BI on UKM-NK through PB
3 RESULTS AND DISCUSSIONS
Brand equity, which consists of brand awareness,
perceived quality, brand association, and loyalty, is
able to influence the class upgrading of
Sangkuriang's Bogor Kue Lapis cake products.
Specifically, three factors affect the upgrading of the
Sangkuriang brand, namely: 1) the ability of
respondents to remember Sangkuriang's brand; 2)
the Sangkuriang brand is the main choice among the
various brands of Bogor taro layer products that
exist; and 3) the Sangkuriang brand is the most
popular according to respondents.
The Bogor Sangkuriang taro layer began to be
marketed in 2011. The right Sangkuriang brand
marketing strategy made 50 percent of respondents
able to recognize, remember, and associate with
certain products. Currently, this brand is the market
leader compared to its competitors. Research from
Yulianti (2017) states that the taro layer of Bogor
Sangkuriang is in a growth position, even though
many competitors have emerged with similar
products and packaging. The popularity achieved by
Brand Equity and Brand Image as Direct and Indirect Determining Factors of Small Business Growth
67
the Sangkuriang brand indicates that this brand is in
the position of "top of mind awareness" which
means that consumers immediately remember the
Sangkuriang brand spontaneously without the help
of props such as banners/advertisements when their
mind wants something to be consumed or something
for souvenirs. . The specialty of Sangkuriang is that
the basic ingredient is taro which is the original
garden product of Bogor district/city. For a long
time, taro has been a typical Bogor food that is often
bought by tourists both in the form of raw and taro
chips. The development/diversification of taro
products in the form of layers is something new that
can attract consumers' interest, plus other features of
the Sangkuriang brand, namely its dominant level of
tenderness and not excessive sweetness, which is
very suitable for consumer tastes.
Table 1. Results of the hyphothesis tests
Hipotesa Estimasi CR (Uji t) Prob Caption
BE UKM NK
- 0.727 -2,345 0.019 Ho rejected Ha accepted
BI UKM NK
0.877 3.168 0.002 Ho rejected Ha accepted
BE PB
0.369 2.472 0.013 Ho rejected Ha accepted
BI PB
0.391 2.579 0.010 Ho rejected Ha accepted
PB UKM NK
0.694 2.579 0.010 Ho rejected Ha accepted
BI PB UKM NK
0.308 2.031 0.008 Ho rejected Ha accepted
BE PB UKM NK
0.308 2.031 0.004 Ho rejected Ha accepted
The relationship shown in this study is that brand
equity has a significant but negative effect on SME
growth. This growing of SMEs is assessed from 2
dimensions, namely: a) Sangkuriang outlets are easy
to find around the respondents' residences, b) Bogor
Sangkuriang taro layer products are obtained at
souvenir shops. The form of this negative
relationship shows that the main consumers of the
Sangkuriang brand are local tourists who come from
areas around Bogor such as Depok, Jakarta, Bekasi,
and Tangerang, so an increase does not follow the
increase in brand equity in outlets. Consumers buy
Bogor Sangkuriang tiered products at official outlets
in Bogor City, be it in the center of Bogor city such
as Jalan Pajajaran or on Jalan Soleh Iskandar.
The brand image of the Bogor Sangkuriang taro
layer product is formed by several dimensions,
namely: a) easily recognizable logo, b) attractive
logo, c) easy to recognize brand writing, d) logo has
been known for a long time, e) harmonious
Sangkuriang brand color combination, f) consumers
do not want to try a competitor's product, g) have
been consuming it since it was marketed. The brand
image that is formed from the Sangkuriang product
has a direct and significant effect on the upgrade of
SMEs. This influence shows that Sangkuriang's logo
has been embedded in the minds of consumers. The
logo serves as an entrance into the consumer's mind
for a reminder of the product's existence and
differentiation from competitors' products.
Respondents agreed and strongly agreed that the
Sangkuriang brand logo was attractive and easily
recognizable. The logo is in the form of a young
man in a regional dress with a mountainous
background reminiscent of the West Java legend
"Sangkuriang". According to respondents, the color
combination, which is dominated by purple, is very
harmonious. Besides, the consistency of the shape
and color of the logo since it was marketed until
now makes respondents who have been consuming
for a long time have no desire to try competing
products. All these things make the brand image
affect SMEs to upgrade in a positive and significant
way. Until now, respondents/consumers have high
loyalty to the Sangkuriang brand. This is evidenced
by its market position as a market leader and in a
growth position (Yulianti, 2017). The company's
ability to maintain consumer loyalty is based on
several things, such as: a) being able to maintain
consumer trust. Maintaining consumer confidence is
done by maintaining product quality. One of the
advantages of Sangkuriang Taro Layer is the
softness of the product, and this has been maintained
since the beginning of the product market until now;
b) maintaining continuous marketing
communications either through conventional means
or by using social media; c) giving discounts and
special offers; d) quality service. One form of
service that makes consumers satisfied is that when
this product was marketed, the amount of production
ASAIS 2020 - Annual Southeast Asian International Seminar
68
that was not sufficient for market demand made the
company impose a purchasing restriction policy. The
goal is that consumers from outside the city who
come during the day can still enjoy this product.
In this study, the product brand equity of
Sangkuriang has a positive and significant effect on
repeat purchases. Respondents made Bogor's
Sangkuriang their top choice even though there were
many competitors, such as the Arasari brand, the
Barokah brand, the Kabayan brand, and the Amor
brand. The advantages of the product are: soft, not
too sweet, complete variants, and always make
promotional programs tailored to the moments that
occur. For example, in order to welcome the month
of fasting, a promo was made "Breaking the Fast for
more Favors with a 30% discount via Goofood".
When the 75th Independence Day, a Red and White
Lapis promo, and a "buy one get one free" daily
promo was made for the first 200 buyers. Some of
the marketing activities that make up brand equity
positively and significantly impact repeat purchases.
Tresna G et al. (2018) found that brand equity
positively and significantly affects consumer loyalty.
Meanwhile, research by Pradipta D and Hidayat K
(2016) states that brand equity, except brand
awareness, has a positive and significant effect on
purchasing decisions and brand associations show
the most dominant influence. Based on these two
studies, it can be said that consumers of the Bogor
Sangkuriang layer have high loyalty, so they are
willing to make repeated purchases. In this study,
brand image affects repeat purchases positively and
significantly. Consumers who have kept the
Sangkuriang taro layer logo in their mind, then when
they are going to buy a taro layer product
spontaneously decide to buy the Sangkuriang brand
and even voluntarily recommend it to close friends
and family. Rusandy (2018) states that brand image
has several benefits, including: 1) it can increase
customer loyalty; 2) can increase customer
satisfaction; 3) customer satisfaction can increase
customer loyalty; and 4) customer satisfaction
mediates the relationship between brand image and
loyalty.
The Sangkuriang brand product's brand image
affects repeat purchases positively and significantly,
indicating that consumers are satisfied with the
Sangkuriang Bogor tiered product, and this
satisfaction makes consumers loyal. Loyal
customers will automatically make repeated
purchases. Syoaleha et al. (2016) stated that brand
image, which includes company image, user image,
and product image has a positive influence on
consumer loyalty, and the biggest influence is
company image. Abidin (2018) states that brand
image and consumer trust in the company have a
positive and significant impact on customer loyalty.
Based on these two studies, it can be said that
Sangkuriang's brand image makes consumers loyal
to the product and affects repeat purchases.
Consumers of Sangkuriang have loyalty to the
product, so they make repeat purchases. Repeated
purchases have made Sangkuriang's taro layer
product reach a growth position, and it can be said
that this company has experienced an upgrade to a
higher class. Several things that indicate that this
company has undergone a gradual upgrade are a) it
already has several large outlets in the city of Bogor
such as Soleh Iskandar street, Pajajaran street,
Cibinong, and Puncak area. b) assets have reached
IDR 500 billion.
The movement of UKM to level up is a priority
of the government, to strengthen the foundation of
the national economy so that there is no too big gap
between large businesses and MSMEs. The strategy
undertaken by the government is to open the widest
possible market access, both domestic and foreign
markets. For this reason, SME products must meet
global quality standards so that they can compete
with both local products and imported products
(Masduki, 2020). Siagian (2020) there are 5
strategies that can be carried out in order to
accelerate SME's Grading: 1) opening access to the
domestic market and export markets, 2) increasing
the competitiveness and capacity of SMEs through
digital marketing, 3) providing financing and
investment support, 4) developing management and
business capacity through training and mentoring, 5)
providing business opportunities and facilities such
as licensing.
The brand equity of the taro layer product in
Bogor Sangkuriang, which has been established and
has generated high loyalty to consumers, has grown
this business into the middle class. Upgrading can be
shown from several things, namely assets that have
reached 500 billion, as well as product sales turnover
from small outlets that can reach 50 to 80 boxes per
day, and the profit margin reaches 20% of sales.
This position is able to be achieved by the company
through repeated transactions by consumers. From
the results of interviews with respondents, the
reasons put forward for repeated purchasing
activities are: a) a good relationship with SME
producers/entrepreneurs, b) satisfaction obtained
after consuming the product, c) satisfactory service
from the perpetrator UKM. These three things make
consumers make repeated purchases. This is what
causes the Sangkuriang to have a brand image that
Brand Equity and Brand Image as Direct and Indirect Determining Factors of Small Business Growth
69
makes consumers buy back frequently and in the end
this business is able to move up in class.
Particular strategies can be applied to consumers
who only make one-time purchases, for example, by
contacting them personally to offer special promos
so that consumers make a repurchase. Several
companies undertake a points incentive strategy.
Consumers who make transactions within a certain
limit will get points that can be accumulated for the
next purchase. Another way that can be done is by
providing special discounts for customers who have
successfully brought in new customers. UKM can
also use advertisements through social media and
inform attractive offers directly via email customers.
Another thing that can be done is to ask for feedback
from customers directly about the product or service
received. Consumers who are asked for their opinion
tend to feel valued so that they are loyal to the
product.
4 CONCLUSIONS
Brand Equity (BE) has a negative direct effect on
SME growth (NK), meaning that this is contrary to
the hypothesis which states that brand equity has a
positive and significant effect on SME's growth.
Brand equity (BE) has a positive and significant
direct effect on repeat purchases (PB) with a strong
relationship, and brand equity has a positive and
significant effect on grown SMEs (NK) through
repeated purchases with a weak relationship level
(<0.5). Brand image has a direct and positive effect
on repeat purchases with a weak level of
relationship. Brand image has a positive and
significant direct effect on SME growth with a weak
level of relationship. Repeat purchases have a direct
and positive effect on SMEs' leveling up with a
correlation coefficient of 0.694, while the brand
image has a positive and significant effect on the
SMEs through repeated purchases with a correlation
coefficient of 0.308.
ACKNOWLEDGEMENTS
The researchers thank the Accounting Department
and the Jakarta State Polytechnic Research and
Community Service Unit (UP2M), which has
provided opportunities and facilitated researchers to
conduct this research. Furthermore, the researcher
also expressed his deep gratitude to the Jakarta State
Polytechnic Director, who had provided funding for
this research activity.
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