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: 10.5220/0010522100003153

In Proceedings of the 9th Annual Southeast Asian International Seminar (ASAIS 2020), pages 65-71

ISBN: 978-989-758-518-0

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

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

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

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

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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Brand Equity and Brand Image as Direct and Indirect Determining Factors of Small Business Growth