Improving business performance through brand management practice

Veljković, Saša; Kalicanin, Djordje

doi:10.2298/eka1608137v

Cited by 12 publications

(15 citation statements)

References 28 publications

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“…Similar results were obtained by Verbeteeten and Vijn (2010), when they noticed in their research paper a close tie between equity, brand management and business performance. Thus, it is possible to state that different activities of brand management are very important to attain more and better levels of business performance in all enterprises from different sizes, sectors and industries (Veljkovic & Kalicanin, 2016).…”

Section: Methodsmentioning

confidence: 99%

“…To sum up, small enterprises that have brand activities and brand management as an important part of business strategies will have more opportunities to achieve a higher level of business performance (Veljkovic & Kalicanin, 2016). This can be seen in the investigations carried out by different researchers, academics and professionals in the field of marketing, such as the research made by Harter et al (2005), who proved that the good brand management of European banks enabled an investment return of 19% in comparison to the one obtained by the financial sector which averaged 18% whereas the excellent brand management of manufacturing enterprises, especially the small ones, obtained a profitability margin of 17% in comparison to the enterprises of the sector which was around 10%.…”

Section: Methodsmentioning

confidence: 99%

“…In this set of ideas, it is very important that researchers, academics and professionals in the field of marketing commit themselves to carry out studies or investigation projects that provide sound knowledge about the importance and relation of brand management (Aaker & Joachimsthaler, 2000), with all the components that improve significantly both the brand and business performance (Dunes & Pras, 2013;Coleman et al, 2015). In this regard, considering that are few published investigations in the literature that analyze the link between brand management and business performance, the main contribution of this empirical research is the analysis and discussion of brand management in the business performance of small business in a developing country, as it is the case of Mexico, just as recommended by Park et al (2013), Veljkovic and Kalicanin (2016), as well as Dunes and Pras (2017).…”

Section: Introductionmentioning

confidence: 96%

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Brand Management and Business Performance in Mexican Small Business

Maldonado-Guzmán¹,

Mellado-Siller²,

Reyes-Ruiz³

2018

JMS

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Brand management is a relatively new topic in marketing literature and it is considered by several researchers, academics and professionals, as one of the most important business strategies that allow not only a significant growth of the business performance of small enterprises, but also their continuity in the market where they participate. Similarly, brand management has also been analyzed and discussed at the core of enterprises and there are relatively few investigations that focus on small enterprises, and there are even less researches carried out in developing countries. For these reasons, the main goal of this empirical research is the analysis and discussion of the effects of brand management on the level of business performance in small enterprises, by using a sample of 300 small firms and by implementing a model of structural equations of second order, that can provide a deeper understanding of the current relation between brand management and business performance. The results obtained show that brand management has a positive and significant in the level of business performance in small enterprises.

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Section: Methodsmentioning

confidence: 99%

Section: Methodsmentioning

confidence: 99%

Section: Introductionmentioning

confidence: 96%

See 1 more Smart Citation

Brand Management and Business Performance in Mexican Small Business

Maldonado-Guzmán¹,

Mellado-Siller²,

Reyes-Ruiz³

2018

JMS

View full text Add to dashboard Cite

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“…However, the findings of the study were limited to brand management but not brand equity. Veljković and Kaličanin (2016) established that organizations were likely to experience a decrease in profits if they distorted advertisement messages. On the other hand, it was also noted that customer brand equity was directly linked to firm profitability.…”

Section: Empirical Literaturementioning

confidence: 99%

“…Topic Gaps Veljković and Kaličanin (2016) Improving business performance through brand management practice…”

Section: Authormentioning

confidence: 99%

Critical Review of Literature on Brand Equity and Customer Loyalty

Kegoro

Justus

2020

International Journal of Business, Economics and Management

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Brand equity is recognized as the driving force of customer loyalty in the competitive firms operating in the changing business environment. The culture of attracting and retaining customers is dependent on which organization can enhance the value of their products to conform and exceed customer needs. By extension, brand equity is regarded as a multi-dimensional facet that comprise of brand loyalty, brand awareness, brand association, perceived quality, brand association and proprietary assets. Theories and models which have been discussed extensively and inform the basis of arguments of this study include; brand equity theory, consumer utility theory, customer based brand equity model, service branding dominant logic model and brand evolution model. Despite conflicting ideologies and evolving nature of brand equity based on psychological aspects of consumers like attitudes and perceptions, it is noted that that there is a positive correlation between brand equity and customer loyalty. Based on the existing literature, it can be concluded that brand equity is the only strategic marketing initiative companies can enhance customer relations and sustainability. Therefore, it is recommended that companies should always strive to enhance their image in the mind of consumers by repositioning their brands in the market. Contribution/Originality:This study contributes to existing literature by developing the link between brand equity, company attributes, customer attributes and customer loyalty. INTRODUCTIONIn a world of global competition and changing consumer needs, brands have continued to remain strategic drivers among competitive firms operating in the global and local marketplaces (Kapferer, 2008). Organizations are using brand management strategies to achieve their goals in the changing business environment (Kotler & Keller, 2009). Increased competition in multiple industries has resulted to enhanced brand management techniques which focus on enhancing customer loyalty (Martens & Hilbert, 2011). With changing customer needs and wants, brand management has continued to evolve since 1980s. Companies operating in the 21 st century have continued to invest in brand management in order to increase their productivity. Calvo and Calvo (2012) suggest that a brand is understood by customers based on different perspectives that range from psychological aspects and organizational attributes. Product and services can receive a distinct identity in the mind of consumers by fulfilling the expectations of the consumer. Argues that consumers are likely to have a permanent memory stick of brands that exceed their expectations and vice versa. Internal and external stakeholders are likely to have a strong attachment

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