Family Owned Business Institute

Research Scholar's Abstracts 2010 - Tim Hasso

Inherent Family Business Brand Equity & Consumers' Product Preferences

Tim Hasso
2010

This study proposes that all family businesses have inherent brand equity due to the associations consumers have with the term “family business”. Prior research has indicated that consumers may be willing to pay price premiums for products and services provided by family businesses (Carrigan & Buckley, 2008); furthermore it has also been found that firms that market themselves as family businesses have an increase in performance (Craig, Dibrell, & Davis, 2008). This study further builds upon this previous research by empirically assessing the price premium that is associated with products sold by family businesses through the use of a choice-based conjoint analysis. The price premium is in turn used as a measure for inherent brand equity.