Veselinova, Elena and Gogova Samonikov, Marija (2018) Radical Transparency and Brand Equity as Key Factors for Successful Business Strategy. In: Digital Marketing and Consumer Engagement: Concepts, Methodologies, Tools, and Applications. IGI Global, Hershey, PA, USA . ISBN DOI: 10.4018/978-1-5225-5187-4.ch071
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Abstract
This chapter analyzes the phenomenon of branding and the related process of creating new value, and thus a sustainable competitive advantage through recognition of the concept of radical transparency. The brand equity is a common denominator of all tangible and intangible resources of the company, the amount of its abilities, of any activity indicating a slightly higher value, any attempt to be better and to achieve more. Therefore, in addition the brand equity is elaborated as a source of value for the business. This chapter examines the role of brand equity in providing greater market share, creating entry barriers for new competitors, achieving production and market expansion, providing a price premium, attracting quality workforce, ensuring consumers loyalty and stimulating innovation. For the brand equity to truly provide value it should be more than the company's image or position of the product – the brand should be a unifying force across the company, providing the business with direction and purpose.
| Item Type: | Book Section |
|---|---|
| Subjects: | Social Sciences > Economics and business |
| Divisions: | Faculty of Economics |
| Depositing User: | Elena Veselinova |
| Date Deposited: | 19 Nov 2018 13:52 |
| Last Modified: | 19 Nov 2018 13:52 |
| URI: | https://eprints.ugd.edu.mk/id/eprint/20833 |
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