How Different Stakeholder Groups Build Brand Value Research Paper

How Different Stakeholder Groups Build Brand Value - Research Paper ExampleThe concept of instigator building has witnessed a striking change from the last decade. Traditionally the role of grasss was just to provide a name or an identity to a product (Baehrens, 2012). away from being an identity is also the linkup which satisfies emotional and functional needs of the consumers (Glynn, 2009). A brand also helps to distinguish one company from the separate (Dunn, 2004). However the modern concept of branding is a step of the entire marketing and selling process. harmonize to Kotler (2008) branding is defined as the name which is associated with the product line of the companies and is used to recognize the product (Kautish, 2011). Apart from this Ameri fuck Marketing Association (AMA) defined brand as symbol, term, name, sign or design, or an union of all which atomic number 18 proposed to recognize the products and services of one company to that of the other. In other words b rand helps to distinguish a product of a company from that of another company. However many authors have condition that brands are much more than just a mere mark of identification. Brands also act as the element which enhances the societal cheer of a company and the communal value of the user of a mark product. Kotler also mentioned brands as the major(ip) area of concern in the context of the product strategy. Since brand was save a part of the product strategy, the communication strategy also worked with it in the process of exploring the brand value and creating brand awareness. The brand development process is lengthy and there are a number of factors associated with it. too there are a number of people starting from the employees and customers, who help in the process of creating brand. therefrom there is a part played by the stake holders towards the... In this turbulent business surround creation of brand value is not an easy process and is mainly created due to active familiarity of the stakeholders. The situation worsens for the new companies who enter into a market. To cite an example it took many years for Pepsi, Coca Cola, Volkswagen, and Toyota, to hasten them established and to become renowned brands of the world. Thus, brand equity and brand value are the essential factors towards the victory of an organization. Brand value is mainly used to define the association during the process of value creation, while on the other hand brand equity is imperative for the evaluation of the brand value that is also termed as the result for the relationship. After conduction the research about the impact of stakeholders on the creation of brand value, it can be concluded that the stakeholders plays the most essential role towards the development of a brand. The study also revealed that customers are an important group of stakeholder, but are not the sole responsible group for the development of a brand. Other stakeholders such as suppliers, distribut ors, business partners, other channel members, government, banks, Ngos, media and also competitors plays a major role in the process of brand value creation. The null hypothesis holds true for the project.