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How Different Stakeholder Groups Build Brand Value - Research Paper Example
This report discusses the concepts of brand equity and brand value in context of the relevant stakeholders. The present research also identifies the significance of stakeholders apart from the customers…
In this turbulent business environment creation of brand value is not an easy process and is mainly created due to active participation 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 get them established and to become renowned brands of the world. Thus, brand equity and brand value are the essential factors towards the success 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, distributors, business partners, other channel members, government, banks, Ngo’s, media and also competitors plays a major role in the process of brand value creation. The null hypothesis holds true for the project.