مقاله انگلیسی رایگان در مورد ایجاد ارزش برند مبتنی بر مشتری برندهای بومی – Sage 2018

Introduction

Brands are being considered to be the primary capital in many businesses; therefore, branding has become the centre of interest of both academia and industry. Due to significant intangible value of brands, companies of all sizes are focusing on managing and building brand equity1. Brands, therefore, form the core of any marketing strategy2, which is duly supported by the recognition given to the strategic importance of branding in the literature3. The globalization of markets has led to global marketing activities by firms, with a tough competition between global and local brands. The perceptions of consumers are different towards these different brands even in the same category4. This phenomenon has gained momentum in developing countries such as India where consumers prefer international brands over local brands5, primarily because of the symbolic meanings being conveyed by these international brands6. Researchers have discussed Indian consumers’ willingness to pay premium for and high acceptance of global brands, irrespective of the country of origin of these brands7. This preference for global brands is more common if these brands are a symbol of conspicuous consumption and status8. India has recently become a major player in the global economy. Forecasts suggest that by 2020, India will surpass Japanese GDP in terms of purchasing power parity (PPP) and that by 2050, Indian economy will join the leading world economic powers of the world, including the USA and China9. This significant economic resurgence and a prospective future has made the Indian market attractive for new entrants and critical for survival for many existing firms10. The firms in past have been attracted towards India, primarily for acquiring resources, accessing and securing low-cost supplies, etc.101, but the growth in income of local population is changing consumer trends and behaviour. This rapidly expanding Indian middle class, with an increasing purchasing power, is the primary market for global and local brands. Global brands which were earlier available for only rich consumers in India are now available to these middle-class consumers11. Global brands are known to appeal to status conscious Indian consumers, whereas local brands have a competitive advantage of having deep knowledge of the tastes, preferences, and values of Indian consumers. Thus, global marketers need to focus more on understanding Indian consumer behaviour and adapt their branding strategies to local tastes and preferences98, whereas local marketers need to focus on innovation and superior offerings in the Indian market. Both global and local brands need to build and sustain strong brand equity for their brands. In today’s highly competitive retail environment, the brand equity concept is important for scholars and marketers alike. Customer-based brand equity (CBBE) plays an important role for the successful brand management of a firm. Positive CBBE can lead to greater revenues, higher profits, lower costs12, charging premium, extending brands easily, increasing the effectiveness of firm’s communication campaigns, increasing margins, and reducing the company’s vulnerability to competition13, providing a trade leverage14, and designing effective programmes for marketing15.