Exploring the Sources of Consumer-Based Brand Equity in the Cryptocurrency Market

Boukis Achilleas ()
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Boukis Achilleas: Associate Professor in Marketing, University of Birmingham, Birmingham Business School, University House, Birmingham, Edgbaston Park Road, B15 2TT, UK, Office G39, UK

Review of Marketing Science, 2022, vol. 20, issue 1, 233-255

Abstract: The present study adopts a qualitative approach to explore the nature and sources of consumer-based brand equity (CBBE) in the cryptocurrency market. Drawing on thirty-two semi-structured interviews with crypto investors in the UK, our findings reveal three main sources of CBBE for crypto brands (i.e. blockchain-based features, crypto brand identity, psychological factors). Also, we supply insights into how the nature and features of blockchain technology shape consumers’ attitude towards crypto brands. Our findings also reveal the key elements of cryptos’ brand identity (i.e. white papers, brand purpose, ICOs) as well as various psychological factors (i.e. psychological distance, escapism, curiosity) that shape consumer perceptions of crypto brands. Our work extends the cryptocurrency and branding literatures in identifying the main sources of CBBE in the crypto market.

Keywords: cryptocurrency; consumer-based brand equity; blockchain; brand identity; technology (search for similar items in EconPapers)
Date: 2022
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DOI: 10.1515/roms-2022-0025

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