Interpretive structural modeling of brand performance with an approach to improve financial performance in industrial markets with a focus on the petrochemical industry

Today, heavy competition in the petrochemical industry among countries requires that attention to the brand issue be given priority, especially companies related to the petrochemical industry in Iran due to the sanctions issues, can move by creating a strong industrial brand to protect their customers. In the present research, the design of the brand performance model in the petrochemical industry was discussed.

The research was conducted in a mixed method. The statistical population of the research included sales and marketing experts of 7 petrochemical companies, and 7 experts from these companies and 238 sales and marketing experts were considered as members of the statistical sample. By conducting interviews with brand experts in the petrochemical industry, as well as library studies, concepts and basic components of brand performance were identified. Among the 28 components identified from library studies, 11 components were identified in the expert analysis as components of the brand performance model, which were the basis of the analysis.

The results of the confirmatory factor analysis showed that among the 11 components mentioned, only 7 components significantly explain the performance of the brand. These 7 components are: sales efficiency, innovation in response, modeling, brand-oriented organizational capital, organizational competitive strategies, product quality, production and sales volume. Also, the results showed that the performance of the brand in the petrochemical industry is not in a favorable state in terms of innovation in customer response and production and sales volume.

One of the consequences of improving the performance of the brand in this industry, according to the research model, can be mentioned the improvement of the quality level of the products, meeting the market expectations, increasing the commitment and loyalty of customers, favorable financial performance and the development and prosperity of the industry.