Components of art exhibition brand equity for internal and external visitors Carmen Camarero a, * , Marı ´a Jose ´ Garrido a,1 , Eva Vicente b, 2 a Department of Business and Marketing, University of Valladolid, Avenida del Valle Esgueva, 6, 47011 Valladolid, Spain b Department of Applied Economics, Avenida del Valle Esgueva, 6, 47011 Valladolid, Spain article info Article history: Received 20 June 2008 Accepted 22 May 2009 Keywords: Brand equity Art exhibitions Cultural organizations abstract This paper aims to explore determinants of brand equity for cultural activities from the perspective of internal as well as external visitors. Our analysis advocates four elements for brand equity in artistic and cultural activities (loyalty, brand image, perceived quality and brand values) and assesses them for the case of an itinerant art exhibition staged over the past twenty years in a region of Spain. Building on extensive literature, a model of the relationship is developed and empirically tested using survey data collected from 406 visitors. Data are analysed through Partial Least Squares. Findings suggest that external visitors attach greater importance to brand image as a determinant of value than do internal visitors, whereas for the latter brand values are the main source of value. Ó 2009 Elsevier Ltd. All rights reserved. 1. Introduction Image, brand and brand equity are becoming increasingly important concepts for arts and cultural organizations. Until fairly recently cultural organizations shunned the idea of engaging in any kind of marketing, preferring to focus their efforts on the custodial and educational side of their work. Today, however, such institu- tions are very much aware that visitors are led by the image they associate to the brand, and that a positive link may prove a key strategic asset and provide competitive advantage. Clear examples of the value attained by certain brands are found in museums such as the Tate Gallery, Guggenheim or MOMA. The Guggenheim museums, to quote one instance, are a prime example of a bold initiative to create a universally recognised and clearly distin- guishable museum brand based on a distinctive and prestigious architecture and style. Since arts and cultural organizations merge non-profit social goals and commercial objectives linked to attracting visitors, the study of brands in such institutions ties in with literature in both the non-profit as well as the tourist sector. Until recently non-profit organizations were fairly reluctant to create and promote their own brands due to the risk of being considered over-commercial (Richie, Swami, & Weinberg, 1998) or immoral (Sargeant, 1999). This lack of interest is mirrored in the scant amount of research which has thus far addressed the topic. The works we have examined focus on assessing corporate image as a driver of brand equity in non-profits (Johnson & Zinkhan, 1990; Venable, Rose, Bush, & Gilbert, 2005; Webb, Green, & Brashear, 2000), exploring the link between brand personality and brand image and how these institutions attract donors (Faircloth, 2005), and analysing the positive impact which ascertaining equity has on revenue, reputation and increased numbers of sponsors for these organizations (Quelch, Austin, & Laidler-Kylander, 2004). For the area of tourist marketing, however, the brand image of tourist destinations has been the subject of research for over thirty years (Hunt, 1975; Gallarza, Gil, & Calderon, 2002; Pike, 2002; amongst others), as has tourist loyalty – repeating visits or the intention to recommend the tourist destination (Bigne ´ , Sa ´ nchez, & Sa ´ nchez, 2001; Oppermann, 2000). More recently, research has started to take an interest in the brand equity of tourist destinations (Konecnik, 2006; Konecnik & Gartner, 2007). If we focus on the issue of brand equity in the area of cultural marketing and museums, virtually no research has been conducted (a notable exception being Caldwell, 2000). Yet, despite this lack of attention, the role of the brand in engendering value and creating preferences as well as loyalty towards the brand is no doubt of interest to the managers of cultural institutions, museums and exhibitions. Our study therefore addresses brand equity from the standpoint of visitors to cultural organizations and, more specifi- cally, art exhibitions. In recent years, museums and other arts and cultural organizations have begun to show particular interest in staging temporary exhibitions focusing on a particular artist, school or period. These exhibitions, which may eventually become blockbusters, very often become the cornerstone on which the activity of certain museums is founded. According to Heilbrun and * Corresponding author. Tel.: þ34 83 423332; fax: þ34 83 423899. E-mail addresses: camarero@eco.uva.es (C. Camarero), mariajo@eco.uva.es (M.J. Garrido), evicente@eco.uva.es (E. Vicente). 1 Tel.: þ34 83 4233321; fax: þ34 83 423899. 2 Tel.: þ34 83 423376; fax: þ34 83 423378. Contents lists available at ScienceDirect Tourism Management journal homepage: www.elsevier.com/locate/tourman 0261-5177/$ – see front matter Ó 2009 Elsevier Ltd. All rights reserved. doi:10.1016/j.tourman.2009.05.011 Tourism Management 31 (2010) 495–504