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| The Innovation Achievement Path and Its Model of Time-Honored Brand |
| XU Wei，YANG Yucheng，LI Yongfa |
| Anhui University of Finance and Economics，Bengbu，Anhui, China |
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Abstract Based on the data collecting from 362 related consumers of China Time-honored Brand in Anhui Province, this study explores the critical configurations of brand innovations that affect brand equity and analyzes the combined and interaction effects of these brand innovations by the method of fuzzy-set qualitative comparative analysis(fsQCA). The results show that the realization of high brand equity is mainly achieved through two different paths with the same goal centered on market innovation and product innovation respectively. Furthermore, market innovation plays a key role in the promotion of established brand equity, and the perfecting business model innovation plays a ‘healthy’ role. Hence, this study proposes three types of brand development models including aggressive market development, prudent product innovation, and conservative business model innovation.
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Received: 31 March 2020
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