Forecasting Future Trends in Managing Investment in Brand Using a Dynamic Model for Brand Equity
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Abstract:
Because of the increased competition at the market, the researchers, in order to respond to the rising marketing expenses, have started to study the brand investment rate which results in the achievement of the competitive advantage, especially in the service industries. Furthermore, the new data sources in the constantly changing world makes the scholars to focus on the dynamic functions of the different kinds of the investment in brand management to improve the decision-making process. The goal of this study to design a dynamic model for the brand management investment through the influential factors on the brand equity (Brand Awareness, Brand Association, Perceived Quality, Brand Loyalty) in Alborz Insurance Company to predict the behavior of these factors in a spectrum of a 6-year time period using Vensim Software. In this article, after drawing the flow-accumulation map, model's sensitivity and policy will be analyzed and the result will be used to prepare the improvement scenario. In this model, with changing the different kinds of investment (media advertisement, public relations, direct marketing and price promotion) three scenarios of basic, optimistic and pessimistic will be compared which the optimistic scenario shows that with increasing the percentage of the total investment, the band equity will have 7 percent increase.
Article Type:
Research/Original Article
Language:
Persian
Published:
IRANIAN JOURNAL OF TRADE STUDIES (IJTS), Volume:23 Issue:91, 2019
Pages:
125 - 152
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