Research On The Impact Of Entrepreneurs Spokesperson On Brand Equity

With the constant development of market economy, the competition between enterprises has recently been increasing. When choosing products, most customers pay more attention to the brands which can guarantee high quality and improve their lives. For enterprises, enhancing brand equity has become a favorable way to strengthen their competitive advantages under the new economic situations. Furthermore, choosing an appropriate brand representative is one of the most effective methods to enhance brand equity in a short term.Generally speaking, enterprises tend to choose stars as their brand spokesmen. In recent years, however, some prefer to choose entrepreneurs to represent their products. As entrepreneurs appear more and more frequently in front of the camera, their media exposure has raised significantly, which lets more people know them. What’s more, compared to star representatives, media are more concerned with the enterprises and related economic activities of entrepreneurs, rather than personal privacy information. So there is a lower risk of entrepreneurs being involved in negative news. Moreover, as people pay more and more attention to business, social status of successful businessmen has become higher than before. Therefore, it has been a new trend to select entrepreneurs as brand spokesmen, which can not only arise wide discussion in the society along with gain credibility of enterprises and brands, but also expand the new ways of increasing brand equity. On the other hand, however, as an emerging concept, entrepreneurs spokesmen are lack of adequate theoretical support. Only several factors are taken into consideration when enterprises choose entrepreneurs to represent their products. Besides, researches on the influence of customers and brand equity exerted by entrepreneurs still need to be further improved. Through studies, this article will provide decision supports for whether to choose entrepreneurs as brand spokesmen and theoretical basis for setting up entrepreneurs spokesmen, which can help enterprises to make better use of the right entrepreneurs to enhance brand equity.By setting up a scale system of entrepreneurs spokesmen, this article is aimed to enrich the researches on the influence of brand equity by entrepreneur representatives and to further explain their impact on brand equity. So empirical analysis and document researches are used jointly in the article. First of all, this paper will review related theories and research status of entrepreneurs as well as brand equity through documents. According to the existing achievements and characteristics of entrepreneurs spokesmen, it will put forward hypothesis and research models. Based on the summaries and explorations of previous researches, this study chooses four dimensions as the independent variables, that are fame, coherence, credibility and specialty, while the dependent variable is the brand equity multidimensional model, put forward by Yoo and Donthu in 2001, which consists of popularity or association, perceived quality and loyalty. On the basis of conducting factors analysis, correlation analysis and regression analysis by SPSS on the data collected through questionnaires, this paper comes to conclusions about the influence of brand equity put by entrepreneurs spokesmen. The research has shown positive correlation between entrepreneurs spokesmen and each dimension of brand equity. As factors that go into the regression equation early, fame and credibility of entrepreneurs spokesmen exert an important effect on the brand equity. So entrepreneurs with great fame and high credibility should be firstly choosed when enterprises choose brand representatives. On the other hand, coherence and specialty are the two factors that go into the regression sequence in the end. Unlike fame that can be improved in a short term, coherence and specialty of entrepreneurs have already been identified by audience before they represent the brand. Under the circumstance, it will achieve better effects to choose an entrepreneur whose characteristics are similar to that of products and brands.